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How
the MLS Works for For Sale By Owner Sellers
As a seller, your
home is listed in the Multiple Listing Service (MLS)
by a participating member of the MLS (like FlatFeeMLSListing.com
and our affiliates). Your listing includes a color
photo, detailed information about your home (bedrooms,
square feet, and much more), and the cooperative commission
being offered to the agent helping the buyer.
MLS
is the Most Powerful Tool for Selling Homes
Agents that are
working with buyers check the MLS many times a day looking
for homes in a particular area, price range, and amenities.
The MLS sorts the homes and shows only the homes that
meet the buyers criteria.
How
MLS Works with Commissions
The agent will
then show your home at the scheduled time and contact
you if the buyer has questions or wishes to make an
offer. Should you choose to accept an offer from
that buyer, you will pay the commission amount you have
listed in the MLS. The commission amount is listed
in the MLS, so it is not generally negotiated in the
transaction. Often, the commission is not even
discussed by the agent because the agent knows that
homes listed in MLS pay the commission amount listed
on the listing. The agents know they don't need to confirm
that they are receiving a commission (this is part of
what motivates the agents to show and sell your home).
If you accept an
offer from a buyer, and the buyer is not involved with
an agent in any way, you do not pay any percentage commission.
You are not required to accept any offers. You
are free to advertise your home in newspapers, other
places, and hold open houses if you wish. (Consult
local MLS rules for specific information).
Sell
As Fast As Full Priced Agent Listed Homes
This listing process
is the same regardless of whether you list your home
with us or a full priced real estate agent. Because
of the cooperating commission you are offering, your
listing looks the same as other homes for sale listed
by full priced agents. Agents
are just as motivated to sell your home as any other
home for sale.
Nearly every local real estate company participates
in the MLS, so an MLS listing puts thousands of agents
to work on selling your home.
Secure,
Convenient Agent Showings
Lockboxes
are not required, but they are ideal for having secure
and convenient home showings controlled by the seller.
They also make it more likely that agents will show
your home, as they know buyers spend more time in homes
where the seller is not around, and that makes the buyer
more likely to buy. Sellers like key lockboxes because
they don't need to run home for every showing or
feel trapped in their home waiting to open the door
for the agent and buyer. Key lockboxes also enable last-minute
and short notice showings, which often are the best,
most motivated buyers (such as relocation buyers in
town for a short time who need to buy a home quickly).
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Customer Feedback Ticker:
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Avoid the problems a "by owner" sign causes when
you are in the MLS with our Agent Friendly Sign
