Selling your home on the MLS is easy, unfortunately, you are extremely limited on options because only real estate agents can legally add properties to the MLS (multiple listing service).
Option 1: List your home the conventional way with a full-service real estate agent/broker.
According to the National Association of Realtors 2018 Member Report, there are 1.3 million agents in the United States! With a number that high, odds are you have a friend or family member who would urge you to hire them, but is it really worth 3-6% of your home's value? According to Zillow, the average home in America sell for roughly $223k. That means the average seller pays $6,690-$13,380 in real estate commissions! And that's only for the seller's agent! When you list on the MLS, you are required to offer a commission to buyer's agents as well!
Option 2: List your home on the MLS using a limited service, flat-fee broker, like us.
You get the benefit of the same exposure to buyers at a fraction of the cost (generally between $199 and $634, plus buyer's agent commission) depending on the additional products and services you purchase.
If it's so much cheaper, why doesn't everyone sell their own home with a flat-fee MLS listing?
It's hard to say no to a friend or family who wants you to hire them.
Let's just say..."never mix business with pleasure" or "never go into business with family". It's not a good idea to get into a situation where thousands of dollars could drive you and a loved one apart.
It seems like everyone is selling their home with a full-service agent.
"If everyone jumped off a bridge.."
Google "Flat-Fee MLS listing" and you can find a plethora of articles written by agents designed to scare you into hiring them. They'll say "you get what you pay for", "we're experienced, you're not", and "it could end up costing you a fortune if you make a mistake".
Did you know It only take a few months to become an agent?
Selling your home isn't as hard as you'd think, and you can always attain legal counsel during the process (at a much lower cost than paying a seller's agent commission).
You really only need to do a few things:
1) Answer leads.
2) Schedule tours and/or an open house.
3) Accept and negotiate offers.
4) Choose your best offer/buyer.
5) Work with the buyer to schedule inspection(s)
6) Make any necessary repairs to your home to conform with the purchase agreement.
7) Pick a title company and work with them to get the home closed.
A lot of people just aren't comfortable trying new things.
If this is your first time, get in touch. We love what we do, and we want to help you succeed and save! We also have several blog posts, and even an ebook to help you through the process.
Someone may be very busy and can't commit to showing their home or dealing with offers.
Hire an assistant for $10/hour. Get a lockbox and let buyer's agents show your home while you're away. There are much cheaper alternatives to hiring a seller's agent. Any one of them can save you thousands of dollars, and allow you to continue to live your life.
Published on 01/22/19