In this digital age, MLS has eased property transactions. The buyers can browse through several real estate and brokerage websites. Also, the sellers who list their homes on MLS get maximum response and usually sell their homes faster than the others. Other than intimating the buyers about what is on the offer, it also ensures that the quality of leads is good. This ensures better chances of the transaction, and the productivity is enhanced too. If you also want to list your home in MLS, then here is a comprehensive guide to know how to list on MLS. Go through the tips below to learn how to make your MLS listing process successful and the mistakes to avoid.
Listing your home in MLS: Here is what to do!
Now that you have planned to list your home, here is what you need to do.
Real estate Agency – Yes or No?
MLSs have been helping real estate professionals to share information and services. This leads to better knowledge, reduced costs, and more value for the clients. Member brokers also operate MLS. To list a home on the MLS, you may need a licensed real estate agent most of the time. But there are options when you want to work without any agent. You can list using a flat-fee service or post on the website that allows sale by owner listings.
MLS listing with a Real Estate Agent
This is the most common way to list on the MLS. The real estate agent will help to ensure that the listing attracts buyers and agents in that area by creating an interesting listing on the MLS. The more people view the listing, the faster the sale will close. Firstly, you will have to hunt a licensed and qualified agent. You can do so by exploring the internet and seeking references from friends and family. When you get a real estate agent, he will help you create a listing. You must communicate your needs and preference to him and settle the terms. If you want to list your home on the MLS using the services of a licensed real estate agent, here is what you need to do:
- Explore similar homes for sale in your vicinity
- Determine the correct amount of money you want from the sale
- Schedule a pre-listing appointment with the real estate agent
- Allow the agent to click pictures of your property.
- You need to provide correct information about your property to the agent for the listing
- Confirm the listing price to the agent
- Decide the agent’s commission
- Decide the listing period with the agent
- Sign the listing agreement and add the listing to the MLS
MLS listing without a Real Estate Agent
How to list on MLS without using the services of a real estate agent is also important to know. To create a listing, you will have to find a flat-fee service or à la carte firm. You will need to click panoramic photos and provide home details on your own other than completing other essential paperwork. Though it may be a bit more hassle for you, it is also a viable and low-cost option to list your home on the MLS. A flat-fee service will allow you to self-list your home on the MLS for a one-time payment. Ala carte firm in the case of for sale by owner websites can also simplify your selling process.
Flat-Fee Service MLS listing
A “flat fee MLS Listing” is offered by a state-licensed real estate broker, who allows you to set up an “Entry Only” service on MLS. As per Showcase IDX, there are about 600 MLSs in the U.S. You can list your house, but they may not provide you with any other services. This service is less expensive than the commission you pay to the full-service listing agent. To list a home on the MLS using a flat-fee service, you must keep all the essential information about your house ready. You will also need to take pictures of your property to add to the listing. Then, after completing all the required forms for the listing and submitting the asked fee, the company will allow you to list your home on the MLS. If you are familiar with the home-selling process, it makes sense for you to go for a flat-fee service. A flat-fee service may still need you to pay some of the commissions. Houzeo provides one of the best Flat Fee MLS services in the United States Of America. You should check out Houzeo reviews for more information. Here is how you can list a home on the MLS with a flat-fee service:
- Keep the information about your home handy to fill in the form
- Take several pictures of your home, including the rooms and exterior.
- Find a flat-fee service on the internet or referral
- Create an account
- Complete the listing
- Review the listings
- Pay fee
- Complete all the paperwork
- Check whether the company has added your listing to the MLS
Selling By Owner MLS Listing
To list a home on the MLS for sale by owner websites, you must pay the brokerage. You can create your listing and choose your package of services. Many brokerages offer à la carte services to list the home on the MLS. Here is how you can list a home on the MLS with an à la carte brokerage:
- Keep the information about your home ready
- Take pictures
- Find a brokerage that offers à la carte services
- Decide package of services
- Review the listing
- Complete the paperwork
- Check whether the broker has added the listing to the MLS
Listing your home in MLS: Here is what NOT to do!
The above information was all about what you needed to do about listing your home on MLS. However, it would help if you are mindful of not committing mistakes. Here is the list of things you need to avoid.
#1 Expecting unrealistic price
Setting the right price is critical whether you have an agent or you are doing it alone. A comparative market analysis is necessary to determine a fair offering. Set a realistic price based on other homes in the area. Overpriced homes do not sell. As per a survey done by HomeLight.com, 70% of real estate agents shared that overpricing is the top mistake most sellers make.
#2 Leave room for negotiation.
Most of the buyers negotiate. However, the people list their homes at a price that can catch the buyer’s interest but still leave room for negotiation.
#3 Poor Listing Photos
Buyers look the homes online these days. Your listing must have beautiful photos of your home. Consider using a high-quality camera to capture the right visuals of the house. Poor images of homes end up with lesser views and low interest. Ensure that the photos are crisp and clear. Take pictures during the day with plenty of natural light. Showcase your home’s best attributes using a wide-angle lens. You can also hire a professional real estate photographer to get the best results.
#4 Hiding Issues
It is a bad idea to hide major problems with the property. Hiding the issues will certainly invite the buyers to your property but be ready for the embarrassment and awkward moment during the buyer’s inspection. Hence, it is suggested that you deal with these issues well ahead of time. Either fix the problem or price the property accordingly.