For decades, licensed Realtors have used an exclusive tool to sell homes with unmatched efficiency and speed.
However, as Home Sale information and knowledge has expanded, savvy home sellers have found a way to utilize this exclusive tool, all without actually being a licensed agent and without paying a 3% commission.
The secret tool is the MLS, and this article covers how to access it without paying a listing agent. As well as how you can utilize its power to sell your home fast.
What is the MLS?
The MLS (Multiple Listing Service) is an online directory of properties for sale, established by real estate boards to find and sell properties quickly.
It works like this:
Listing agents upload "For Sale" properties to the MLS
Buyer agents visit the MLS on behalf of millions of qualified buyers
The Buyer looks at the Home, and the buyer's agent makes an offer
The Listing Agent (with the Seller) accept the offer and the sale closes
The agents typically split a 6% commission
It’s also important to note that listings on the MLS are automatically uploaded to 3rd party marketing sites like Zillow, Redfin, Trulia, and 100s of others - which exponentially increases your home’s exposure.
If you don’t mind handling negotiations/showings by yourself, you could cut out the listing agent entirely and pocket their 3% commission. The savings you will gain by doing this could be significant.
But... you’d need a way to get on the MLS without a 3% listing agent.
How do I get on the MLS without a 3% Listing Agent?
You can list on the MLS yourself by using a Limited Service or Flat Fee MLS company (such as List With The Otter).
Limited Service or Flat Fee MLS companies are Fully Licensed real estate brokers that will upload an MLS listing on your behalf for a flat fee, typically starting from $199.
It’s important to note that Limited Service or Flat Fee MLS Services typically do not provide any further service beyond submitting your Home as a listing. They define you as the contact on the listing; and all buyer calls, showings, agreements, and negotiations, are completely in your control.
Why should I use a Flat Fee MLS Service over a Listing Agent?
Simply put, avoiding a 3% Listing commission saves you thousands, if not tens of thousands when you sell your home.
3% doesn’t sound like much, but it can leave a giant hole in your bank account.
If your home is valued at the national average of $374,900, and you calculate the commission you’d owe to a listing agent at 3%.
The commission you’d owe to a listing agent would be $11,247.
Think about it, is somebody handling your home’s negotiations and showings really worth $11,247? You could spend that money on a new car!
All you’d need to do to save that money is prepare yourself by watching some quick Youtube videos on how to handle negotiations and showings - beyond that, your MLS listing will provide a supply of serious, qualified buyers to choose from.
Savvy home sellers are cutting out listing agent commissions from their home sales and saving life-changing amounts of money in the process.
If you’re interested in using a Flat Fee MLS Service, you can see if it’s right for you by checking out our post: