How To List on MLS
For homeowners who want to conduct a private sale, listing on MLS can be the difference between a quick sale for your asking price and a months-long listing that results in a reduced price. The reason? Most buyers rely on a buyer’s agent to find their dream homes, and buyer’s agents, in turn, rely on MLS. As a result, if FSBO sellers want to lure more buyers, they need to focus their efforts on targeting the buyer’s agents, with the most effective method to this is to know how to list on MLS.
How To List on MLS Without A Realtor
Traditionally, sellers only had one option to access an MLS: a listing agent. The cost of this rather straightforward task was 3% of your property’s sale price in addition to the 3% industry average for the buyer’s agent – a total of 6% as a commission of your sale price. To avoid these exorbitant fees, most savvy sellers learn how to list on MLS without a realtor.
Select a Flat-Fee Service Provider
Sellers can access an MLS through a flat fee MLS platform. Platforms – like Houzeo, HomeCoin, Fizber, etc. – charge reasonable rates for worthwhile exposure. However, not all flat fee MLS platforms are equal. On the contrary, there are several factors to consider when ascertaining which platform serves your purpose.
Listing Term
To determine if a flat fee MLS platform offers the best value, you need to consider the length of the listing term. Is it enough time to surpass the average number of days on the market in your region? If not, it’s not worthwhile.
Changes to Listings
Sellers overlook this, but if you recognize an error in your description or want to highlight additional features in your home, can you make necessary changes? If yes, how much will each change cost, and how quickly will the updates be made?
Syndication to MLS
Without adequate syndication on preferential MLS, even the low cost of flat-fee platforms is a waste. For a fast sale, you need syndication to the best MLS in your state – the ones buyer’s agents frequent. This is where such platforms stand out. As one of the only flat fee service providers that syndicate to the biggest MLS, you’re guaranteed prime exposure.
Upload Pictures and Property Details
After selecting a flat-fee service, you need pictures and property details that are enticing. Using FSBO sellers’ preferred option, sellers who list with MLS listing websites are allowed to upload six photos on the basic tier and the limitless photos on their premium tier. Depending on the size of your home, the standard six pictures are enough to photograph critical rooms in your home – kitchen, bathrooms, living space, and bedrooms – in addition to the facade. But on higher tiers, this allows you to hone in on unique features and showcase your home’s size.
Sign The Listing Agreement
Before your home appears on MLS, you need to agree to the terms & conditions of the flat-fee platform you’ve selected. This listing agreement outlines the responsibilities of the respective parties. But it serves another purpose – without a listing agreement, your home cannot be listed on an MLS, since the agreement is mandatory. This is one of the reasons why even if you know how to list for sale by owner on MLS, you can’t access an MLS directly.
That said, if you’re thorough in your research and choose the best platform, the above-mentioned steps detailing how to list a property on MLS are so much simpler.