List On MLS

You can list on the MLS in two ways. First, we have the traditional way when you contract with an agent to represent you in the sale of your home, to market, advertise and show your home.

The second way which is gaining popularity rapidly, is to do a Flat Fee MLS listing.

What this means is that you will contract with a licensed agent or broker, to list your property on the MLS, (multiple listing service) for a flat fee. This agent will not show your home, or represent you, they will just place you listing in a place that will ensure you maximum exposure.

In a typical real estate transaction there will be two agents involved. The sellers agent and the buyers agent. They typically split a comission of about 6% (will very depending on location - check the going rate for you area)

Should you  List on MLS?

By listing on the MLS for a flat fee, you bypass using your own agent, thus saving you the comission that would have been due.

This can amount to a substantial amount of savings. If your property is sold for $300,000 the comissions due to the sellers (your) agent would have been $9000. Not a small sum!

When you are listed on the MLS you most likely will have your home shown by agents who found you in the database. Thus, you will pay the buyers agent a percentage that you decide yourself. And this is one great advantage of liting on the MLS...

By saving on the comission you would have had to pay your own agent, you can now offer the buyers agent a slightly higher rate to sell your home faster.

Agents will scan the amount of comissions paid on the variety of properties they show, and it makes sense that they would rather show a $300,000 property where they receive a 4% comission versus an equally valued property where they make 2.5% comission.

The difference between 4% and 2.5% is $4500! That is a serious incentive for an angent to show your home.

Saving on the comission can also mean that you can be more flexible on the price. Pricing your property well can mean a fast sale as well.

Flat fee MLS listings are gaining quickly in popularity. It is easy to gain the necessary information online, including where to get the legal documents such as seller and buyer agreement. Most flat fee listing agents will provide the standard documents at no extra charge. Ask your agent before entering into an agreement with them.

List on MLS