So you’re planning to sell your home. Maybe it's time to move to a bigger house, a different city, or even a different state. Whatever your case may be, it is essential to have the proper knowledge about selling your home.
Many homeowners come across this situation in their lives and are left with little to no knowledge about selling their home properly. Since we understand the significance of this problem, we decided to explain everything you need to know about using the MLS (Multiple Listing Service) and the advantages this service offers.
What is a Multiple Listing Service, and what are its benefits?
Before we dive deep into the advantages of using the MLS, we have to know what an MLS is first.
MLS is a property listing database used by licensed real estate agents and brokers to list their seller’s properties to agents, brokers and their buyers.
There are over 700 MLS's in The United States. Each MLS covers a particular area.
"Why can't I sell my home by simply posting it on various real estate sites? Is MLS really that necessary for an average seller?“
The biggest advantage of MLS is that it is the most powerful marketing tool available if you’re planning to sell your home. The way it works is that every listing on the platform is automatically posted to hundreds of real estate websites such as Realtor.com, Redfin and Zillow. This gives your listing massive exposure and exponentially increases the probability of success when selling your home.
To know more about what to expect after listing your FSBO at Zillow, read this article written our real estate expert, David Bartels: What To Expect After Listing Your FSBO on Zillow
As already mentioned, the catch here is that only licensed real estate agents can access the platform to list houses for sale. A plethora of people think that accessing the Multiple Listing Service without paying a commission from the sale to an agent is not possible, but that couldn’t be further from the truth.
How can you access MLS if you’re taking the for sale by owner path?
When you’re selling your home, you generally have two options:
- Hire a Full Fee, Full Service Real Estate Agent
- Selling without representation as a For Sale By Owner (FSBO)
Ninety-two percent of home sellers hire a real estate agent to help them sell their home. ,. However, most home sellers do not want to pay a big commission to an agent, and want to be a little more involved in the transaction. These sellers are choosing to sell by owner, otherwise known as FSBO.
The reason most home sellers opt to overpay to hire an agent for a big percentage of the sale price versus FSBO is because the sale of a house is a big, complex, time consuming legal transaction. The idea of making a mistake in the negotiations, contracts, and legal disclosure that cost them money or create liability is why a growing number of homeowners are choosing to hire a full service agent for a low flat fee to give them massive exposure and properly represent their interests in the transaction.
What steps do you need to take to list your home on the Multiple Listing Service?
Here are four easy steps:
1. Research to find the best flat fee MLS broker in your area
This step is very self-explanatory. The easiest way to do your research is by either asking for a reference from your acquaintances and friends or simply searching for a flat fee agent on the internet.
2. Acquire an MLS listing for a flat fee
One thing we also want to emphasize is that you should definitely do your own research on the pricing of the fee. Many people tend to get tricked and eventually end up overpaying due to their lack of knowledge. A typical price range of a flat fee is around a few hundred dollars.
3. Provide an in-depth property description with all the information
Your property description is what sells your home, apart from the obvious pictures. It is essential to take some time and write a compelling and detailed description so that you expose your listing to the best chances of success when it comes to selling it. If you know you don't have the capabilities of writing a professional listing, it is better to outsource your work to someone who knows what they do.
After all, writing a professional property listing isn’t as easy as it may seem at first glance. Once you have your property description, it’s time to take some pictures of your home.
4. Include professional exterior & interior photos
Description and pictures are what sell a property. Many sellers make the mistake of taking pictures of their properties themselves. However, usually, that leads to poor listings since not everyone knows how to capture space in its best beauty, as well as not every homeowner knows how to stage their property.
For this reason, we again recommend hiring a professional in its field to ensure your listing consists of the best quality; It is an investment that clearly pays off.
Once you've done all the above-mentioned steps, all you need to do is to sign a listing agreement with the flat fee agent, and your property will then be listed on the MLS. After reading our article, you now have all the necessary knowledge about Multiple Listing Service, its advantages, and ways of accessing the platform when choosing the for sale by owner option.
You no longer have to look for any revolutionary sell my home methods since you now have access to the most powerful multiple listing service. Get your free MLS listing now by clicking this link: Free MLS Listing
If you have any questions, feel free to reach out to us at 805-379-3330. Our team will be more than happy to help you.