The housing market has been booming in America for several years. Houses on the market go as quickly as mere hours. Even so, the more offers you receive as a homeowner, the better your chances of selling at or above the price point you imagined. This is especially important if you have a tougher house to market. Knowing how to list your home on MLS can make all the difference.
Short for Multiple Listing Service, the MLS database connects buyers with sellers via their real estate agents for a fee. It allows agents to cooperate and share information. Agents can then review each other’s listings and play matchmakers. Not surprisingly, getting a home listed on the MLS network can exponentially expand your options.
How To List Your Home on MLS
You need a real estate license to publish listings on the MLS. Not all real estate agents use the MLS system, so before choosing a seller’s agent, determine whether he or she does. If you prefer not to work with a seller’s agent, then you can consider flat-fee services to get the job done.
How To List Your Home on MLS With an Agent
Working with an agent simplifies the process. Following these steps can get you through the entire process in no time:
- Check real estate listing sites and identify similar homes to yours that are selling in the general area.
- Using the selling prices, determine how much you can expect to make from the sale of your home.
- Find an agent and decide on the listing price, commission and listing period.
- Sign a listing agreement finalizing all terms.
- Allow the agent or a photographer to take photos of the home for the listing.
- Ask the agent to confirm the listing after posting it.
How To List Your Home on MLS With No Agent
You might have decided from early on that you don’t want to work with a seller’s agent. However, this doesn’t mean you can’t still get your property listed on MLS. To accomplish this, you may need to look for a company that provides a flat-fee service. This involves a one-time payment provided to a listing agency that then publishes your property listing on the MLS.
It’s worth noting that it can sometimes be difficult to find real estate agencies willing to do this. Once you find the right flat-fee service provider, follow these steps:
- Gather all the information you need about your home for the listing.
- Take pictures of the home or hire a photographer to do so.
- Review the associated fees before moving forward.
- Register an account, publish the listing and pay the fee online.
- Fill in the paperwork when it arrives in the mail.
- Wait for confirmation from the company that it posted the listing to the MLS.
You can also use à la carte brokerage services to list your property as “for sale by owner.” The steps to do so resemble the flat-fee process.
Why Consider Listing Your Home on MLS
Almost every home worth seeing makes its way to the MLS. The greater exposure is enough to attract most homebuyers and their agents. Consider these additional reasons.
1. Higher Profits
People often sell their homes to buy another one. Whether it’s another conventional home or a house on wheels, another purchase is likely on the way. Consequently, making the highest possible profit is important. Not working with a real estate agent can sometimes save on commission. That said, with no agent, it can be more difficult to negotiate a higher price point.
2. Full Control
Some people want more control over their property listings. The more you personally invest in the home and the more time-sensitive the sale, the more important this might be. For-sale-by-owner sales used to be common in rural areas among older people. Now, younger city-dwellers are considering the option.
If you want your home sold as quickly as possible, then you need all the exposure and offers you can get. Exposure is often one of the main contributing factors to houses that are in pending status in less than 24 hours. So, if you are ready to sell quickly, knowing how to list your home on MLS can help.
What To Do After Listing Your Property on MLS
In some markets, buyers are so desperate to get homes that they buy sight-unseen and do not care much for the interior of the home. If the home looks solid and they can live inside it, it sells. However, most people will have to put at least some work into staging the home and hosting showings. This can become very time-consuming, so consider carefully whether you wish to do this on your own. Ideally, complete big repairs or renovations prior to listing.
When you find the right buyer, he or she will likely have a buyer’s agent representing him or her. You still need to pay the buyer’s agent a commission. Keep in mind that if you had a seller’s agent, the two professionals would split the commission. This is usually a percentage of the sale.
When you close the sale, you do need to notify the agent or service you used to list on MLS within one business day. Failure to do so could cause the agent to be fined, and he or she would likely forward that fine to you.
When To Involve an Agent
Most real estate professionals agree that all real estate transactions should include agents. Real estate is a complex area of law and is sometimes prone to sentiment and fraud. Both of these can create problems for buyers and sellers alike.
Because sellers generally end up paying the same commission to the buyer’s agents whether they use a seller’s agent or not, it makes sense to work with a seller’s agent.
Are you about to sell your home but feel unsure about whether to hire a seller’s agent? Want to work with an agent who uses MLS and knows how to list your home on MLS? Use the FastExpert search tool to find qualified and well-rated agents near you.