Homes listed on the MLS tend to sell faster and for 13% more than non-MLS properties. So, whether selling a ranch in Los Angeles or a condo in Miami, using the MLS can be the key to securing top dollar for your property.
Realtors would typically charge you a 3% listing commission. You’d also need to budget an additional 2.5% to 3% for the buyer’s agent. It’s a significant chunk of your home equity.
However, this has changed. Some of the best Flat Fee MLS services and For Sale By Owner websites can now get you listed on the MLS within 24 to 48 hours, all for just a few hundred dollars.
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What is MLS in Real Estate?
MLS, or Multiple Listing Service, is a local database real estate agents use to showcase properties available for purchase. Real estate agents have exclusive access to the MLS.
Across the United States, there are over 600 local MLS databases; listing your property on your specific local MLS is essential. This allows local buyer agents to find your listing easily.
Should I Choose a Full-Service Realtor for the MLS Listing?
No. You should not go with a full-service Realtor. Their 3% listing agent commission can burn a hole in your pocket. Instead, you can get MLS listing via Flat Fee MLS services. They charge a small fee to get you on the MLS, saving you thousands in real estate commissions.
How to Get an MLS Listing Without a Realtor?
It’s essential to understand that only licensed real estate agents get MLS access. There’s no direct way to list on the MLS on your own. However, you don’t need huge listing commissions for MLS access.
As mentioned earlier, you can choose an affordable option like a Flat Fee MLS listing service. This alternative allows you to pay a small fee instead of the full listing agent commission. It’s the easiest route to get your property listed on the MLS and onto the market.
High-tech Flat Fee MLS services like Houzeo can get you listed up faster than the traditional full-service Realtor while maximizing your savings!
Steps For MLS Listing Your Home
1. Research and identify your area’s top Flat Fee MLS listing services.
2. Secure a Flat Fee MLS listing plan that suits your needs.
3. Share the details of your property.
4. Include high-quality professional photographs with your listing.
5. Sign the listing agreement to formalize the process.
6. Review the draft of your listing and get listed on the MLS.
▶️ How to List a House On MLS Without Agent: Check out this 6-step guide to list your home.
What is a Flat Fee MLS Listing?
Flat Fee MLS is a listing service that lists your home on the MLS for a small flat fee. Unlike traditional Realtors, Flat Fee MLS listing services do not charge 3% commission.
Here’s a 4-step guide to get your home listed on the MLS:
1. Find the Right Flat Fee MLS Service: Talk about researching local FFM services and specify the reason for research. Researching these services is important, as some may have hidden fees.
2. Choose Your Listing Plan: Most services offer two options: a DIY MLS listing plan and a virtual full-service plan. The latter involves a licensed real estate broker assisting virtually.
3. Share Property Photos and Details: Enhance your listing by attaching high-quality photos of your property, preferably taken by a professional real estate photographer. Professionally photographed homes sell 32% faster and attract more online clicks.
4. Sign the Listing Agreement: Complete the listing agreement and seller disclosures. If there are no major changes in the paperwork, the Flat Fee broker will list your home within 24 to 48 hours!
How Much Does MLS Listing Cost?
The MLS listing cost varies depending on whether you’re working with a full-service agent or a For Sale By Owner MLS listing service. Full-service agents usually charge a commission ranging from 2% to 3%. On the other hand, Flat Fee MLS listing services charge only a couple of hundred dollars.
Here’s a breakdown of the costs associated with a For Sale By Owner MLS listing:
1. Upfront Flat Fee: This is the initial fee to get your property listed on the MLS, typically ranging from $300 to $500.
2. Closing Fees: Most Flat Fee MLS services won’t charge additional fees unless you’re in a minimum service state.
3. Beware of Hidden Charges: Be cautious of brokers who pitch a low listing fee of about $99. During the transaction, they may charge you more, and you may end up paying more than $500. For instance, a $ 50-yard sign might be sold to you for $135. Some brokers may spring additional charges from you at closing when it’s too late to back out.
▶️ Free Websites to o List Homes For Sale By Owner: Check out these FSBO sites to skip the listing fee.
How Quickly Can You List a House on MLS?
After submitting all the necessary paperwork and listing contract, an MLS listing typically takes around 2 days to go live.
Many Flat Fee MLS services forward your listing request to local real estate brokers. These brokers then provide you with paperwork that needs manual completion. Your listing goes live within 2 days of submitting all the required documents.
However, with Houzeo, the process is 100% digital. Once you’ve submitted all your documents, your home can be listed within 24 hours, often even sooner!
▶️ Read the Houzeo Reviews: Check out the real customer reviews to know more about the company.
How Does a Flat Fee MLS Listing Save You Money?
Traditional listing agents usually charge a hefty 3% listing commission. In contrast, Flat Fee MLS listing services charge a flat fee, typically ranging from $300 to $500, which can result in savings worth thousands of dollars.
You only need to pay the buyer agent commission if you sell to a represented buyer. If you find an unrepresented buyer, you pay 0% commissions and keep the entire sale amount.
However, 86% of buyers are represented by an agent. Therefore, you must offer a competitive commission to incentivize the buyer agents.
