Real estate market prices in the United States appreciated by around 20% in the last two to three years. With this, the real estate agent commission rates increased too. Sellers now look for hybrid ways to crack the deal, not relying entirely on the agents. Currently, the mortgage rates have been increased which is made affordable housing challenging for buyers.
Here is how you can easily list on MLS by owner in 2022.
1: What is MLS
Before going into the nitty-gritties of how to easily list on the MLS, here is what this concept means. MLS or Multi Listing System is a platform created by the local realtors based on the guidelines of the National Association of Realtors (NAR). Though MLS is local, they all are uniform in their function and scope.
To honor the NAR’s Code of Ethics, all 800+ local MLS function on similar principles on a national level. According to the Code Of Ethics, only a licensed realtor or real estate agent can list a property on MLS. Additionally, only buyer agents have access to the platform. This ensures that the integrity of the platform is preserved.
2: Significance of listing on MLS
Now, can FSBO sellers can process a house sale? Yes, they can but it is preferred not to. The main advantage of listing on the MLS is maximum exposure. Another benefit of course is that the visibility of the property automatically increases once it is listed on the MLS. Every seller has to go through the rite of passage of MLS listing if he wants a quick and effective sale.
It is important to look at the time of the listing, to ensure maximum buyer interest in the property. Buying a Flat Fee package often helps if you are an FSBO seller.
Listing with a Flat Fee company will ensure that you save thousands of dollars and sell speedily yet effectively.
3: Disadvantages of not listing on MLS
Is it possible for FSBO sellers to not list on MLS and still carry on with the transaction? Yes, it is. But, there is no guarantee that you will get the best price it is more likely that the seller will get less than the market rate due to limited buyer interest.
It is important to note that more than 70% of the interested buyers go online to search for properties. In this case, it is not prudent to miss out on listing on MLS. This also ensures that you save up on real estate agent commission and get the right price for your house while pocketing maximum profits.
4: Flat Fee MLS – How to list on MLS by owner
FSBO sellers are often discouraged from going down that way because of the red tape and legal factors involved in making a successful sale but signing up for an MLS service with a Flat Fee MLS listing option is highly workable.
Property can be listed easily on MLS with just a few clicks online. If you sign up for a service like Houzeo which is known for its technologically advanced interface, here is the solution for your question of how to list on MLS by owner.
You fill out basic details to register on the site, choose a plan which you could benefit you, and add in all your property mentioned as mentioned, add the number of photographs according to the plan chosen, and complete documentation by attaching requested papers, a few more clicks to dot the i’s and cross the t’s and you are done. Your listing is live within a few hours.
5: Pros and Cons of listing with a realtor
It may be alluring to want to list on MLS for FSBO sellers but here sellers have preferred full-time real estate agents for the longest time. Everything from MLS listing to closing is taken care of by the agent. They are responsible for setting the right listing price, negotiating a correct selling price, getting all the important disclosures, permits, and documents in order, and verifying buyers’ documents to ensure no irregularities or discrepancies.
They also handle showings and finally the closing. Doing all of this yourself is sure daunting. But shelling out 6% commission from your pockets is a lot. Hence, easy listing with a Flat Fee MLS service works the best.
6: Can you list on MLS for free?
The quick answer is No. Essentially, no one without a realtor license can list on MLS. Therefore, either you go via a full-service realtor or list through a Flat Fee MLS service but there is no way to list on MLS for free by the owner.
But the FSBO seller can syndicate the listing on other sites enjoying greater traffic like Zillow and Trulia. But having said this, the listing on such sites usually is hidden away in inner pages and hence gets lost with less visibility.
7: Selling a house as is the FSBO way
Selling a house as-is is legal but it is less preferred because of the perception that they are hard to sell and get a much less price. But Selling a house as-is could be achieved with correct timing and effective listing on MLS.
Selling a house as is in distress or the need of a cash buyer is possible if the FSBO sellers sign up for a Flat Fee MLS option.
Listing on MLS is very important if you want to ensure effective sales as an FSBO seller. The seller must rely on a Flat Fee MLS service to achieve this easily. Popular companies in the country providing this service are Houzeo, FSBO.com, Fizber, Redfin, Homelight, and Beycome, among others.
The packages start from $75 to $999+. They are highly customizable, easy to work with, and technologically advanced. These tailor-made plans give a whole lot of services— including marketing, staging, pricing, 4D visual tours, closing assistance, and Comparative Market Analyses (CMA)—other than MLS listing.
This is a great way to easily list on MLS and walk away with maximum profit.