While you are posting up the For Sale by Owner signs on your home, you may be considering listing your property on MLS. Placing your home on MLS exposes it to a larger pool of potential buyers. Therefore getting your home or other real estate listed on MLS can help facilitate a quicker sale. MLS (Multiple Listing Service) is an online database of real properties such as residential homes and commercial buildings. Most major cities have their own MLS service, which only real estate agents and brokers have access to. Only a licensed real estate broker who belongs to the MLS and pays the MLS dues and fees is able to list in MLS. So, how do you get your property listed on MLS?
Sellers with property that are For Sale by Owner can go through multiple agencies online that work with agents in order to get their property into the MLS system. There are also many companies you can find online that will charge you a flat fee to list on MLS, saving you commission fees.
Another option to consider in order to list on MLS is to find a trustworthy agent to list your real estate on MLS. You can ask your friends and family for referrals to good agents that they have actually worked with in the past. If you are unable to find a real estate agent or broker through referrals, then you can search for one online using only trusted websites.
It is necessary that you find a licensed real estate agent or broker, as they are professionals who have access to MLS. Be sure before you sign a broker/ buyer agreement or other contract with the agent, that you check the status of his/ her license online through your state's Department of Real Estate website. This will reveal any complaints or offenses associated to Real Estate.
Once you have chosen your real estate agent, invite them to your property for a pre listing appointment. The agent will take down the necessary information regarding your property, such as the square footage and the year it was built. They will also take photos of the property for the MLS listing. Tell your agent how much you are expecting to make from the sale. He/she will then recommend a price to list for, considering what other similar properties in the area are priced at. You will then be able to discuss the list price until you and your agent can come to an agreement.
Be sure to ask questions, such as what the brokerage's commission will be. The typical real estate commission paid by the seller is 6% although the National Association of Real Estate states that this amount is not mandated by law.
Decide the time frame that you wish to list the property for and an alternative plan if it does not sell quickly enough.
Once you and your agent have discussed all the specifics, the agent will return to their office and list your property on MLS. This will allow other agents to see the listing and send the info to their clients.
Be sure to ask for a copy of the list on MLS once it has been completed, this way you can be sure all facts related to your property are accurate.
The above mentioned tips should help you get your property on MLS where potential buyers can view your list in MLS and greatly raise your chances of a quick sale.For more visit http://www.ownerama.com/.
Tips Before Selling Your Home As For Sale By Owner