Quick and Easy Steps to List on the MLS In 2022
So you’ve decided to sell your home. It’s time to move up, downsize, relocate, sell your investment property, or even sell the fixer-upper you just completed patching up.
Whatever the reason, you’ve decided it’s time to sell your home and go to better pastures. You’ve been through the purchasing process previously and understand what it’s like to work with a real estate agent.
Whether you’ve sold a house before or not, you’re aware that a commission will be required if you hire a real estate agent to list the house for sale, advertise your property, and represent you and your home to purchasers (aka the listing agent).
Real estate agents are beneficial and maybe the best option for individuals who are less knowledgeable about the process.
However, as a wise homeowner, you may sell your house as a “For Sale by Owner” or “FSBO.” Especially if saving money on the agents’ commission is a consideration while considering how to sell your house. There are several For Sale By Owner Websites available to list your home for sale, easily and conveniently.
However, there is a catch if you opt to sell your property on your own. Your house will not be listed in the Multiple Listing Service.
This causes issues for you and for your home selling process.
In most circumstances, listing a house on the MLS necessitates the use of a licensed real estate agent.
However, for individuals operating without an agent, there are a few additional possibilities, such as listing with a flat-fee service or a website that allows for sale by owner listings.
MLSs are intended to assist real estate agents in sharing information and services in order to cut costs and provide greater value to clients. MLSs are owned and operated by their member brokers as well.
As a result, MLSs are frequently hesitant to allow members of the public to list a house if they are not working with one of its members.
Let’s take a deeper look and understand the quickest and easiest way to get your house listed on the MLS in 2022.
What is MLS All About?
First and foremost, there is no one MLS throughout the country and you will need to list your home on the MLS for your specific location.
MLS is an abbreviation for Multiple Listing Services. It’s essentially a vast database of available properties. Cooperating real estate brokers in each local region agree to list their homes in the same huge database (the MLS) and to keep it up to date as properties come and depart.
However, while individual realtors collaborate to pool data for their respective regions, there is no single huge database that covers the whole country.
This may appear strange if you’re looking for listings online because you can go to a website like Zillow or Realtor or Redfin and enter the address of a house for sale anywhere in the country and discover its listing straight immediately.
However, what these sites do is compile data from all of the local MLS databases into one searchable webpage.
However, each regional MLS has its own set of listing guidelines. Real estate agents often pay dues to be able to enter homes for sale into the database and search for information on other listed properties. You cannot just enter your home into the database if you are not a realtor who pays to list on the MLS.
Many of the guidelines established by the National Association of Realtors have been accepted by most regional databases.
These include restrictions for how fast a property’s status must be altered when it has a pending offer, as well as a requirement that every property for sale disclose the amount of commission the seller must pay to sell a home.
How Does Listing On The MLS Benefit You?
While there are many benefits of listing your property on the MLS, check out some of these below listed below for you:
Your property will be featured on established platforms like Zillow, Trulia, Realtor.com, Redfin, and hundreds of more websites that have a torrential pour of visitors each month ensuring you better exposure when you list on the MLS.
More exposure attracts more offers and assures you of the bag at the best price possible. According to one survey, MLS listings sold faster and for 17% more than those property listings which chose alternative routes.
Attract Cash Deals
Most of the cash buyers are searching for properties on the MLS. These iBuyers, investors, and house-flippers are ready with cash if they find an attractive listing.
Competitive Buyer Agent Commission
Buyer agents are involved in 95% of all home sales. The most effective technique to market to buyer agents is through the MLS. The MLS enables you to compensate buyer agents with a competitive commission. Given that most transactions involve the active participation of the buyer agents, this will help you to command top money for your home.
How to List On MLS without Approaching an Agent?
It is impossible to list on the MLS without a real estate professional. Remember that the MLS operates because collaborating real estate agents all agree to use the same database — and they pay dues to do so. This is a problem if you’re selling your home on your own and want an MLS listing.
You cannot just pay the MLS to advertise your property, nor can you register to list a home on the MLS if you are not a certified realtor. That means you’ll need to hire outside aid if you want your property included in the most searchable database of homes in your region.
Also, there is no need to hire a realtor only to list your house on the MLS. You can use a service known as “flat fee MLS” for a minimal charge. These firms will list your house on the MLS for you, giving it the exposure it requires – and they often do so for a set cost ranging from $100 to $1,000.
How to List On MLS with Flat Fee Service?
If you’re on your home selling journey and finding a perfect solution on “How to list on MLS” then a state-licensed real estate broker is there to provide “flat charge MLS Listing.” This real estate broker will collaborate with you to establish an “Entry Only” service on the local MLS platform.
You list your home with a real estate broker, but they just supply you with an MLS listing and no further services. You can still sell your house as a for-sale-by-owner.
This service is far less expensive (a few hundred dollars) than the commission you would have to pay to a full-service listing agent. Keep in mind that you must still pay a commission to a buyer’s agent; more on that later in this piece.
Follow these steps to get your property listed on the MLS with the help of a flat fee MLS listing service:
Search for the best one
It’s important to choose which flat fee MLS listing services suit your needs. Do your due diligence and ask around before locking down on anyone.
Select a package
Most providers provide both a DIY and a virtual full-service package. In a virtual full-service package, the broker is accessible to assist you if you require it.
Submit property information and pictures
After choosing a package that suits your needs, you will be prompted to provide information about your property. A few insides and exterior images of your house are also necessary to submit for the listing. Depending on the MLS, users can post up to 24 photographs to their listing.
You will be asked to sign the applicable disclosures and agreements for the listing. The listing agent will be identified as the real estate broker that entered the information you submitted into the MLS.
Which Flat Fee MLS Listing Company Should You Choose?
While putting your home on the MLS may seem like a no-brainer, it’s also important to understand what to expect from the flat-price MLS listing service.
To begin, remember that the real estate broker providing this service will serve as your “listing agent” (without the commission, of course).
The MLS listing company will submit the given information to the MLS and will be identified as the listing agent.
The average amount of time your home will be listed in the MLS is 6 to 12 months, but you may confirm this with the listing service you choose.
Once the home is posted in the MLS, you will be in charge of staging and showing it, planning and carrying out extra marketing, holding open houses, negotiating with purchasers, and more.
Keep in mind that you are the seller. The flat price MLS listing service serves as a lead generator for you, directing potential buyers’ agents to you so you can follow up and schedule appointments to show them your home. Everything else is your responsibility.
Once you’ve found a buyer and accepted an offer, you’ll go through the closing procedure, pay the buyer’s agent’s commission, and submit the closing information to the MLS listing service.
One of the best companies to rely on is Houzeo.
- Flat fees ensure you don’t get ripped off with hefty commissions.
- Better exposure as your listings will be featured on websites like Redfin, Zillow, Trulia, and more.
- Everything is online. From paperwork to payment.
- Best-in-class technology to cater to all your business requirements.
- Dedicated customer service team.
To know more, check out Houzeo reviews on various review websites like Google and Trustpilot and get a better picture of how transparent Houzeo really is.