If you’re looking into selling your house and have decided to not use a realtor, you probably already weighed the pros and cons of using a realtor vs. selling yourself. Selling on your own allows you complete control of the process, timeline, and the budget. However, even the most prepared DIY individuals may have questions that arise along the way.
In particular, you might be wondering how to list your own home on the MLS without a realtor’s involvement. The MLS, or Multiple Listing Service, is a property database used by licensed real estate agents to list their properties and homes for sale. It’s very important that qualified buyers are able to see that your home is for sale, which is where the MLS comes into play. It’s the best option to reach both local and national prospective buyers. More exposure means a higher likelihood that you will receive a good offer for your property.
Needless to say, getting listed on the MLS is important as a seller. However, even without the assistance of a realtor, it’s still possible to list on the MLS. In this article, we’ll discuss how to list your own home on the MLS using a flat fee broker and the steps in buying a MLS listing. By taking the guesswork out of the listing process, you can focus on negotiations, house showings, and finding the best offer.
Finding a Flat Fee Broker
It’s true that only realtors and licensed agents and brokers can list a house on the MLS database. This means that you need to find a third party to list your property for you. The first option to listing your house on MLS without a realtor is to find a flat fee broker. In order to list your property on the MLS without using a realtor, you can work with a broker. A broker will work with you to list your home for a fixed amount of money. The benefit to this option is that you are essentially paying this agent less to do less for you in the marketing process. This allows you to only ask for support and help with the things you would like to delegate, and maintain control of the things you want.
Listing on the MLS can be one of these items that a flat fee broker can assist with. Essentially, the flat fee broker acts as your primary point of contact for everything MLS related. Think of the broker as the go-between for you and the MLS. The flat fee broker will work to manage the listing for you without any paid commission. While you won’t receive the same support you would with a full-service real estate agent, using this option is far less expensive, and it allows you to maintain control over all of the high-level decisions you will need to make regarding the sale of your home.
Listing Your Own Home on MLS
You can use a flat fee broker to list your own home on the MLS, if you choose to do so. If you’d like to maintain more control, you can also purchase an MLS listing for a flat fee through a real estate agency. The benefit to this service is that all costs are known upfront and, as the seller, you will have absolute control as to what goes into your MLS listing. Your agent will enter all of the listing information you give them into the MLS along with any homeowner contact information that you choose to share. At this time, you will upload any exterior and interior photos of the property. You will also need to sign an exclusive agency listing agreement.
After that, your house listing will be posted to the MLS. As the seller, you will still hold all of the power in this scenario. After your property is listed in the MLS, you will be in charge of managing showings, offers, and negotiations. This means that you are guaranteed more flexibility in your scheduling and can create your own rules when it comes to showing your home. Your flat fee MLS listing is simply a tool that connects you with potential buyers. After you find a buyer, you will go through a closing process to close out your MLS listing with the real estate agency.
Weighing the Pros and Cons
The option to sell your home without hiring a realtor can save you both time and money if done correctly. However, it can also be an investment of your personal resources and time to market your property alone. Consider this when deciding between hiring a flat rate broker or choosing to purchase a flat-fee MLS listing. Either way, you maintain “for sale by owner” control.
In your selling journey, don’t overlook the power of the MLS listing to market your home. Take the time to find a flat fee broker to connect you with the MLS or purchase a flat-fee MLS listing so you can reap the benefit of reaching a wider pool of buyers. Remember that flat-fee house listings can benefit the seller by giving them complete control over the sale of their home while saving them the price of commissions.
At Prello Realty, we make selling on MLS in Chicago for a flat fee easy and affordable. This service is the most efficient way to market your property in Illinois. Listing your property is quick and easy with any of our plans. We offer three service levels: MLS Basic, MLS Plus, and MLS Pro, depending on your marketing needs. By speaking to Prello today, you can rest assured that we have an in-depth knowledge of the area market. Check out our location in Chicago to speak to a representative about marketing your home today!