Profile picture for lukewalker2008

How much does it cost a seller to list their house on the MLS? What is the process?

What is the cost for posting your house on the MLS without going through a realtor?  What is the process?  Do you have any links or websights to go through?
  • January 09 2009 - Omaha
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Answers (10)

Profile picture for wetdawgs
@Lakia:  One of the tricks to successful use of your professional time on Advice is to check the date of the original post.  It is rare that a person is still looking for an answer 2 1/2 years after the question was asked.
  • August 10 2011
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You can work with a flat fee realtor and list your property on your local MLS for a flat fee. Our company is nationwide and we charge $495.00. What state and county is your property located?
  • August 10 2011
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You can list on Realtor.com for $99.00 Flat Fee at

[Website removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
  • July 24 2011
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Profile picture for natewolf

You cannot post your home on the MLS without going through a REALTOR.

The MLS is owned and operated by cooperative agreements between REALTORS and it's purpose is to ensure that proper contracts and disclosures and commission agreements have been signed and that the information contained about the property is accurate. For these reasons, you must use a REALTOR, and you must offer some sort of compensation -- the compensation is completely negotiable.

The MLS does not require you to pay any specific amount. The amount paid simply must be documented. It literally could be $100. However, if your property is offering $100 and your neighbor's is offering $10,000 .... you're probably doing yourself a disservice. This is why there tend to be averages-- usually somewhere around 5 or 6 percent of the sales price. HOWEVER, land only commission and commercial property commissions are usually much higher than this.

LOWEST COST TO GET INTO THE MLS: If you want limited service from the REALTOR, you can hire one that does a "Flat Fee" or "Limited Service" listing. This is a "no frills" approach to getting your property listed in the MLS. The "flat fee" is usually paid UP FRONT. And then you will still need to offer compensation to a Buyer's Agent or "cooperating" agent. The cost is probably going to be around $500 or less up front, non-refundable. And a "success" fee paid to an agent of whatever you decide.

  • January 12 2009
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If your property is located in southeast Michigan, you can list it on the MLS for free
  • January 12 2009
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Profile picture for wetwillie

lukewalker2008,

I mean this in the best way, but judging by your photos, if your marketing as a FSBO is not going to be any better than that, you better get an agent.

Photos

  • January 11 2009
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Profile picture for wetwillie
Brenda&David

The Consumer Report's survey in the Sept 08 issue states " the 82% of our respondents who sold with the help of an agent received $5,000 less, on average, than their original asking price. Almost all of the 17% who sold their homes without an agent said they received about what they originally asked."

Given the fact that according to most agents FSBOs are overpriced, how do you explain the NAR's studies in realationship to the Consumer Report's findings. Could you give us something to check your sources. Oh, how about the study attached to the link below as well.

http://faculty.wcas.northwestern.edu/~ane686/research/fsbo.pdf

However to your credit,  your 10% is not near as exaggerated as most of your colleagues. It can even be on the light side if a FSBO prices by the seat of his pants too high, and follows the market down. With that in mind, maybe lukewalker2008 should take a look at the blog attached to the link below.

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_doing_a_f_1
  • January 11 2009
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I think the more important question that you should ask yourself is, not how mcuh it will cost to list my home in the MLS, but rather.  "Who will provide me with the best opportunity to get the most money out of my home?"  You see, you can list with a flat fee service, or what might be referred as a FSBO service, but what are you getting for the dollars that you have to give up front.  Your home entered into the MLS, maybe a sign in the yard and most likely a good luck, let me know when you have a buyer.

A good professional Realtor will provide you with a much better opporunity to get the most out of your home.  Just because they may cost you more, doesn't mean you will put less in your pocket.  The NAR shows consistent statistics across the country that indicate the Seller that uses a FSBO approach will net 9 to 11% or more less than when they use a good qualified Realtor.  So if you have to say pay a Realtor, 6 or 7% for their services, but you sell for 10% more than you would have if you didn't use a Realtor, would you have put more in your pocket?  This doesn't even take into consideration the cost for the flat fee agent or the advertising dollars or the hours spent holding open houses or the frustration from not knowing what the potential buyer thought or if they were qualified to actually buy your home.

Unfortuanately, there are too many people that think that Realtors don't so anything, but put it in the MLS and put a sign in the yard and then wait.  This is probably true in 80% of the cases.  The evidence that proves this is based on Realtors willing to drop their fees to get a listing.  A good professional Raltor will provide you with a real game plan, a proven marketing approach, a true realistic market evaluation and if they are really committed to doing the right thing for you, a cancellation guarantee that is not controlled by the Broker.
  • January 11 2009
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Profile picture for wetwillie

I don't know what state you are in, but you might want to take a look at the site attached to the link below. If it's not available in your state, then Tiffany's advice is right on, if it's not already. There's something to be said about staying local. Make sure after you get on, no matter who you use, that you run a test using a different email or phone number from the one that you supplied. There have been reports of some shady dealings from flat rate operations.

http://www.iggyshouse.com/ServiceCoverage.aspx



  • January 11 2009
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I'm not in your area, but most areas have at least a few brokers that are willing to do flat fee services. If you go with a more traditional broker it usually costs you nothing until the property sells, then is is a percentage of some sort.
  • January 09 2009
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