If you are looking to sell your house, you have probably been doing some research on how to handle the process from start to finish. You will learn how to list your house on MLS.
One of the things that have likely come up from your search is MLS.
Now, if you are selling your house using a realtor, they will handle most aspects of the sale, including your MLS Listing. If you are doing a For Sale by Owner, you will be a bit more involved in the MLS listing.
If this is the first house you are selling a house, the entire process likely seems like navigating a maze. Here, learn what the MLS is and how to navigate it like a pro.
How to List Your House on MLS? What is MLS?
Multiple Listing Service (MLS) is a database for realtors that reflects the goings-on in the real estate market.
This database is broken down into various regions and carries a comprehensive list of houses on sale, sold homes, expired and withdrawn listings. This is a rather resourceful tool for realtors as they get first-hand information when houses come into the market that they might have buyers for.
It also notifies them when houses are closed so that they can explore other avenues.
Aside from seeing houses on the market, this tool is also useful for deriving market metrics.
One important way MLS does this is by providing data required by realtors to determine, among other things, property prices.
The problem when doing an FSBO is marketing. You do not have access to MLS, which limits your marketing endeavors.
Listing on MLS on an FSBO (For Sale By Owner)
Without being a realtor yourself, you will need an MLS member in your locality to enter your house listing in the database.
To do this, you need to get on a flat fee MLS arrangement. This means getting a realtor to ensure your house is on MLS.
This will be their only role, and you will only pay for this service, meaning you will not pay a percentage of proceeds as realtor commission once the house is bought.
Listing a FSBO On MLS
Here are the steps to follow to list your property on MLS.
1) Find the Right Broker
The first thing to do is find a realtor to place your property on the MLS database. The dream of every house seller is to find a buyer quickly and at the highest price.
Getting the most money means keeping your expenses low. One of the qualities you will be looking for in a listing agent is low listing fees.
You also need a company that will not attempt to lock you in-contract. You are always better off with an agency that allows you to withdraw or cancel your arrangement without being unnecessarily punitive.
2. Collect Information About Your House
This should not take much effort as this is likely to be information at your fingertips. Your listing will need to have detailed information about your house. This will help other realtors find your house when doing an online search.
Things like square footage, location, nearby amenities, price, special features, and so on should feature prominently in your listing.
Note down these details as accurately as possible. Once you enter a listing contract, this information will be required to prepare the listing.
3. Take Photos of the Property
Reading about an awesome house is one thing; seeing it is another.
You need to have excellent photos to accompany the property information. Think of these photos as your home’s first impression. For any party to be interested and to move on to the next step of house buying, they must absolutely love what they see.
Declutter your house, and look through décor magazines to see which house arrangements look good. Arrange different rooms of your house attractively, making them look both neat but cozy and lived in.
It is always a great idea to get a professional photographer to do the photography. They can get great angles and good lighting. Take photos of both the interior and exterior as well as any special features within the property.
4. Sign the Broker Agreement
Before any realtor can act on your behalf, you have to sign a broker listing agreement.
This document should stipulate the terms and conditions of your listing agreement. Review this document carefully to ensure you are comfortable with the terms contained therein.
One way to gauge a good agency is by their contract. Credible realtors use simple language, explain terms properly, and are always happy to go through the contract and explain anything you do not understand. If you are unsure about any of the terms in the contract, be sure to ask questions until you are completely satisfied.
Once you have reviewed and signed the agreement, you can move forward with confidence knowing that you have a good team working on your behalf.
5. Verify the Listing
Once you have submitted all the required information and have entered into a contract, your listing agent should have the listing up in a day or so.
A good agent should end the post as it appears on MLS. Review this, ensure all details are as correct as provided and request for any amendments when necessary.
After you have submitted all the necessary information and have entered into a contract with your listing agent, they should have the listing up in a day or so. A good agent will end the post as it appears on MLS. Review this to ensure that all details are correct and request for any amendments when necessary.
By verifying the listing, you can be sure that your home is accurately represented online and that potential buyers are getting accurate information. This step is essential in getting your home sold quickly and for the best price possible.
Call Us Today
If you are looking into home selling in Orlando and need money fast, call the Cash Buyers Network today. You can fill out our convenient form online or give us a call and we will schedule your FREE home evaluation at a time that works for you. We will help you sell your house fast and put cash right in your pocket.