MLS by owner, is now a proven add-on to the for sale by owner arsenal, when it comes to selling by private sale.
MLS which stands for Multiple Listing Services, is probably the strongest argument that the Realtor have for listing with a real estate broker.
Are you just looking for a for sale by owner website to place your house on MLS? Please proceed to Best MLS For Sale by Owner Site.
The reason the MLS system has an advantage is the multiplication factor. Here is what happens:
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I've always thought that the MLS system as perhaps the biggest advantage that Realtors have, when it comes to selling real estate.
Not every country, state, province, or territory, may have this service available.
The Short and Sweet of this system
The advantages of MLS while for sale by owner are:
The Disadvantage of MLS by Owner
A Comparative Example of Costs
Using our traditional $275,000.00 house that I've been using throughout this website, lets look at the comparison of costs.
you are doing a traditional "for sale by owner", or a MLS by owner,
your advertising costs, signs, flyers etc, should be roughly the same.
Don't forget, you are still offering your house "for sale by owner".
What we will do, is just look at the Extra cost involved with a MLS by owner sale. We will look at two different scenarios.
You Sell Without a Realtor
In case you are using the MLS by owner option and you find and sell to your own buyer, it would cost you:
Sell Through a Realtor
In case you use the MLS by owner option and you sell to a buyer that a Realtor brings you, your costs would be:
The Buyer Commission percentage on your contract. This may be in the 2% - 3% range.
Lets split things in the middle and say the listing fee is $400.00 and the selling commission is 2.5%. We will not consider the taxes that may be involved.
Here is the 4 different possibilities of FEES ONLY costs.
Obviously, you put more money in your pocket if you sell totally on your own. You will have costs, but they will vary greatly depending on some of the following;
Lets just compare the Full MLS listing costing $13,750.00 and the MLS by owner listing costing $7275.00
Some simple math would mean if you sold using MLS by owner service, you would save;
$6,475.00 plus any taxes on the difference compared to selling by the traditional full MLS system.
How do I do this MLS by Owner?
You can simply go on line and search for MLS websites that give you the for sale by owner option. Depending on where you live, you may find many companies, few companies, or none.
I have already did extensive research for you, so you don't have to. Do you want to list MLS while still offering your house for sale by owner? Want to have super for sale by owner coverage giving you still a better chance of selling by owner?
Would you like to have all your money back if you decided to go full MLS if your house doesn't sell for sale by owner? (This is for USA only) If you answered yes to any or all these questions, please check out Best MLS For Sale by Owner Site
There are so many options today for the for sale by owner than in years past!
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