Selling a house in this market is a bit precarious. While the market is skyrocketing with the real estate prices on a boom, it is important to know about the right tools to successfully sell your property and get a bang for your buck. Getting the right exposure for your house is a guaranteed way to ensure a host of buyers and bidding wars. So, how does one guarantee that? The answer is simple. Get it listed on Multi Listing System (MLS).
The traditional route to go about this is to hire a full-service traditional real estate agent who charges a 2-3 percent commission for this service along with an additional 2-3 percent as a buyer commission which is incurred from the seller. Hiring an agent is expensive and individuals are now looking at other ways to effectively sell their property.
Table of Contents
Table Of Contents:
A: Who can list on MLS?
B: How to list on MLS without a Realtor
C: Advantages of MLS listing without a realtor
D: Pitfalls of listing on MLS without a realtor
E: Final Word
A: Who can list on MLS?
MLS is a platform created by realtors to list properties on a regional level. At present, there are more than 800 MLS in the United States, and each one is maintained and regulated by licensed real estate agents. MLS is not regulated but a national body but locally, licensed real estate agents maintain it by paying annual fees. Also, there are similar rules so that there is uniformity maintained.
An individual without a real estate license cannot list on MLS. So, for this, a seller needs a real estate agent to do the needful. If the seller is keen on saving thousands of dollars of commission to be paid to the agent, the other option is to go for a Flat Fee MLS.
B: How to list on MLS without a Realtor
Many realtors offer MLS listings with low commission rates or at a discount. But the best bet here is to go for a Flat Fee MLS company that would do your MLS listing at a pre-decided fee. In addition to this, they also offer other services on an a-la-carte basis. It is all a part of the package, depending on what you choose and pay for.
Services like Houzeo give you an MLS listing for a flat fee of $329 and then, you can pay for more services as you take a higher package which is up to $999. Houzeo reviews claim that the service is excellent when it comes to customer support, there are no additional charges levied on the sellers after closing and they have excellent technology to aid the sale.
MLS listing might constitute the major portion of selling a home but that is not the only factor. One needs the experience to navigate through the real estate jungle and take care of everything from managing showings, pricing, staging, photography, marketing, and closing. Flat Fee MLS companies offer these services at an additional rate.
Here are a few steps to list a property without a realtor, on a flat fee MLS platform.
Here’s a perfect solution to “How to list on MLS.”
1: Choose a package, according to your need
2: Fill out some basic questions about the property which is up for sale
3: Add in good quality photographs and create an album to go with your listing
4: Complete the online paperwork
5: Finish the online payment and voila, your listing will be live at lightning-fast speed, especially with companies like Houzeo who make the listing live in two business days or even sooner.
Houzeo, Redfin, Fizber, Congress Realty, Homecoin, and FSBO.com are a few noteworthy companies to offer flat fee MLS listings without a realtor. These websites also automatically syndicate the listing on other real estate sites like Zillow/Trulia and enjoy massive traffic on an everyday basis.
C: Advantages of MLS listing without a realtor
One of the major advantages of listing on MLS without a realtor is, of course, saving thousands of dollars that would otherwise be paid as a commission to the traditional full-service real estate agent.
It also gives the seller autonomy to control the sale without interference from a middleman. If one is experienced with all the paperwork and can handle showings and closings on their own, then one can go for For Sale By Owner (FSBO) MLS listing without a realtor.
It also helps if the market is hot and the property is covetable and in a good location. Then, it does not matter if an agent is involved or if, it is going to be sold like hotcakes.
D: Pitfalls of listing on MLS without a realtor
Flat Fee MLS companies charge low at the onset but there are hidden clauses and charges which could be levied later, after the sale. For this, choosing a Flat Fee MLS service that caters to your needs is very important.
Also, the house may be sold for a lesser price, without the experience of real estate agents and their buyer base.
Someone who does not have much experience with documentation, might face an issue with this and get into legal issues over incomplete or incorrect paperwork.
Furthermore, FSBO sellers could also get drained with the whole experience of doing everything on their own.
E: Final Word
To get a bang for your buck, you must keep in mind certain things before investing in a flat fee MLS service.
Sellers need to have professional-level photos to help their listings stand out from the rest. Importantly, they also price their property well to attract buyers. It is also important that they are well-versed with all the rules and regulations in the agreement by the MLS listing company they have chosen so that there is no discrepancy or confusion later.
Individuals listing their house without a realtor need to also be prepared to verify the authenticity of the buyer and get their papers checked as well.
Closing negotiations are very crucial and FSBO sellers need to be very efficient in doing this because they will have no representation.
But will a-la-carte package services that the flat fee MLS services offer could be managed.
