Individuals interested in selling a home may want to list it on a Multiple Listing Service (MLS), as defined by Investopedia. This service allows you to list your home on multiple sites online, increasing the chance that a potential buyer will see it. However, only realtors have been able to list homes on an MLS.
You may be interested in a For Sale By Owner (FSBO) sale. In this case, you may wonder how you can get on MLS without a realtor. Review your options to put your home on the MLS right here.
Your Options to Get on MLS Without a Realtor
Let’s say that you want to place your property on an MLS, but you don’t want to have to pay high fees to a realtor. In this situation, you may be able to work with other real-estate professionals to place your property on an MLS. You may decide to:
Hire a Discount Broker
A discount broker is a real-estate professional who handles only some parts of the sale of property. You agree to work with a discount broker and they may list your property as long as you pay them a percentage of the cost for the sale of your home. Note that you may have to pay around one to two percent of the overall sales price of your home to a discount broker.
Work with a Flat-Fee Agent
You may also work with a flat-fee agent. These real estate professionals provide certain services for a flat-fee. You do not have to pay a commission to flat-fee agents, so you know up-front how much you will pay for their services. However, you may still have to pay a fee to the buyer’s agent if the individual who buys your home is working with a real estate agent.
Use Per-Day Pricing
Some MLS sites allow you to pay a daily fee in order to list your property using their service. You may be able to pay this fee in order to access:
- The MLS
- Market data
- Sales comparisons
- A yard box and lockbox
- Marketing flyers
- And more
You may even pay extra to get help from a licensed real estate agent. This method to use the MLS may be useful if you believe you can sell your home quickly. However, per-day pricing may become very costly if it takes time to sell your property.
To consult with an experienced for sale by owner lawyer today, call 855-780-9986
Reasons to List Your Home on an MLS
You may be wondering about the benefits of placing your property on an MLS. The MLS serves as an easy-to-access listing that contains a wide range of properties. Instead of being a single database, there are around 700 different databases for different regions.
Many individuals interested in buying a property will end up looking on an MLS. Many different websites draw content from an MLS, allowing people to access listings that interest them. For example, you may find listings from an MLS on sites like:
Getting your property listed on these major sites may increase the odds that it will sell quickly. Potential buyers may find your property quicker if it is visible on an MLS.
Pros and Cons of Getting on MLS Without a Realtor
You may be able to get your property listed on an MLS without a realtor. There are a number of potential benefits for handling your property listing without a realtor. For example, if you list your property with a flat-fee or discount broker, you may:
- Save money on your commission for selling your property.
- Have more control over the sale of your property.
However, there could be some drawbacks to listing your property without the assistance of a realtor. Realtors are trained to help you get the most money possible for your property. This means that if you work without a realtor, you may end up selling your property for less than it is worth.
Additionally, your property may not be viewed by as many potential buyers, as realtors often handle marketing for their clients. Realtors handle marketing because they get a percentage of the price for your home, so they are motivated to work hard to sell it. You may also have no legal representation during the sales process if you do not work with a realtor.
Find Out How You Can Get on MLS without a Realtor
So, how can you get on MLS without a realtor? You may work with a discount or flat-fee broker instead of a realtor. You may also pay a per-day fee for your listing in some cases. However, you may want to consider the pros and cons of working with a realtor before deciding to list on your own.
You may discuss the legalities of selling your home with or without a realtor with the team at Bogin, Munns & Munns. Contact us by completing our online contact form or by calling (407) 578-1334.