Tip To Save You Thousands When Selling A Home
Nearly every home sold today is found on the internet. Now, people looking for homes online are able to view the same homes for sale as are available to real estate agents on the MLS through IDX feeds. Most of the time now, it’s the buyers who tell their agents what homes they want to look at. Because the internet is so essential for home selling, the #1 thing to do to sell your home is have it show up on the MLS.
It used to be that the only way to have your home appear on the MLS was to hire a full service real estate brokerage to list your home at 5-7% of the gross sales price. The listing brokerage gets paid the entire commission, regardless of where the buyer comes from. Now, it’s possible to get the same incredible home selling marketing exposure for a fraction of the cost with flat fee MLS listings.
Flat free MLS listings allow you to list homes by your self, and retain the right to sell by owner if you can find a buyer yourself. Most of the buyers who will view your home are already represented by a buyers agent. Too have your home listed on the MLS, you will have to be willing to pay these buyers agents a 3% commission. This still saves you almost 3% by not having to pay the listing side of a real estate commission. A lot of the time buyers approach for sale by owner sellers first, even if they found your home on an IDX feed Realtor website. Most of the time buyers are also reluctant to call a real estate agent, because they want to save on commissions too. A lot of the time they go to check out the exterior of the home, and the neighborhood, before they call a real estate agent. When this happens, your total real estate savings will be closer to 6%, as you will have no real estate commission to pay.This is a savings of almost $12,000 for a $200,000 house. Not exactly chump change.
Listing with a flat fee brokerage can save you a lot of money, but it also doesn’t offer the support and advise full time Realtor’s give. Companies that sell flat free MLS listings generally don’t offer much service, advice, or help. Flat fee mls service is only recommended for people with a good understanding of real estate transactions and contract law.
Tags: home selling, mls, real estate, selling tips
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