List on MLS: Ways and Alternatives!

Listing your house on MLS can help you sell your home quickly and efficiently. But to list on the MLS, you need to know that only a licensed real estate agent can list your house on MLS. Though you can sell the property on your own without needing a real estate agent, it is also important to get listed.

So, if you want to use the “Sale by owner” approach but at the same time also want your property to get maximum exposure by listing on the MLS, then here we suggest you the best ways and alternatives to do so. Let us begin by knowing how to List on MLS.

What is MLS?

If want to sell your home, then you would have heard about the term multiple listing service or MLS. You might have seen the term either online or from the realtor. The MLS is a database in which there are several homes listed for sale. It also includes other significant details such as the details of the property, price of the property, description of the house, number of rooms, any upgrades made to the house recently, and more.

Let us know how to “List on MLS”

How to List on MLS?

Real estate agents use the MLS to list properties. It also allows them to measure real estate comps and hunt for suitable properties for their clients. The properties listed on the MLS can be seen on the realtor sites and hence, your property gets full exposure to the public.

The traditional way of marketing with a “for sale” sign on your lawn may let your neighbors know that your property is up for sale. But listing your property on the MLS makes the home life to a broader audience including the broker as well as realtors. This way, you can get a potential buyer faster.

Listing on MLS with a Realtor or agent

If you are planning to work with an agent, then they will take care of your home listing and make it live on the MLS, as per the listing agreement. Hiring an agent and listing your home on the MLS is not a challenging process. However, you need to research and interview the agents well who are from your area. To know them better, schedule a pre-listing appointment.

Then, have a conversation about the marketing approach they use and also about the listing price of the property. Then, you need to negotiate the listing agreement and its terms such as the tenure of the listing agreement, its commission, the ambit of marketing activities, etc.

Once you are convinced, you need to sign the listing agreement and then the agent will start preparing your home for sale. The activities offered may include decluttering, cleaning, staging, marketing, photography, suggesting repairs, etc. After all this, the agent will make your listing live on the MLS.

MLS listing without a Realtor or agent

Want to head the sale process on your home and allow yourself considerable savings? Many sellers choose to list without needing an agent by going for “for sale by owner” or FSBO. There are two ways to list on the MLS. One is through the discounted broker who charges a low commission and another one is through the Flat Fee real estate websites.

Low commission brokers

MLS needs you to list your property for maximum exposure. The broker needs to take care of this for you. Even limited-service brokers in your locality can help you with MLS listing and charge a fee in return.

In this category, the agent websites charge a discounted or low commission compared to the full-service realtor commission of the total home’s sale price.

The sellers need to pay this commission to both the buyer’s and full-service seller’s agent which comes to be 5% to 6%. Paying this much amount eats away a lot of money you can take home from the sale. If you go through the FSBO, then you can cut this commission by a significant margin and get your home listed on the MLS too.

So, now you know that it is possible to list on the MLS without a traditional agent. The sellers can opt for the discount brokerage and allow their property to be listed on the MLS.

Flat fee real estate companies

Many websites such as Houzeo offer to list MLS on the Flat Fee service model. They post your listing on the MLS as a part of the basic package and charge a low flat fee in return. In case you want more services, you can choose a higher amount package and sign up for any ala carte services such as professional photography, marketing home, unlimited listing changes, staging, open house, etc.

If you choose the limited-service package, then you may not get professional advice as it will come with a full-service package. You will have to manage the entire home sale process on your own.

Cash Home Buyers

You might not know that there are companies that like to buy houses for cash. The homeowners who need urgent cash to buy a new home or who want to sell a distressed home, often prefer cash home buying companies.

Now when we talk about cash home buyers, you must know that there are two main types of cash buyer companies:

We Buy Houses for Cash company

These are the companies that buy homes at a discounted price. They make an offering that provides a low sale price for your home than the value of the home in the open market. But these properties buy the home as it is. If you have a distressed home or are stuck in foreclosure, and your home is in the worst condition, then this cash home buyer is the company to look for.

iBuyers

This is the other type of cash-buying company. The iBuyers companies make competitive offers and provide a price point that matches what your home is worth in the open market. However, these companies operate in select areas, and also, they have very strict buying criteria. So, if you don’t have a good house or are old or dilapidated, these companies will not make an offer to you.

If you want to contact the best cash home buyers companies, then these are the options for you. You can also contact a professional home valuation expert. They will help you know what your home is worth. So, you can compare the cash offers and ensure that you get a fair price for your home.

So, if you were wondering how to list your house on the MLS, now you have an answer. You can easily find discount brokers or Flat fee MLS listing companies who can handle your listing for a fee.