Profile picture for kouirouk

Should I list on the local MLS?

Hello and thank you for reading my question. I am trying to sell my home in North Reading, MA on my own(FSBO) and I am not sure if it's worth to list it on the local MLS. I have done a lot of research and spend a lot of time to advertise it by doing the following:
1. Purchasing the SILVER package from www.forsalebyowner.com
2. Listing it with www.zillow.com
3. Listing it on boston.craigslist.com
4. Listing it on www.realtor.com
5. I even build a custom website for it (www.28valleyrd.com)

So what do you guys thing. Is it worth it? Do I need more exposure than that?

Thank you in advance

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March 09 2010 - North Reading
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Listing your property for sale with a competent real estate agent in your local market who will market it in the MLS would be to your advantage.  This way every agent on the local MLS who represents a buyer would have the option of considering your home as an option to sell.
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March 09 2010
Kouirouk-  You are on the right idea...almost 90% of home buyers start their search online.  In today's market the people you want your home in front of are the real estate agents.  The best way to do that is get on the MLS.  Use their expertise to market your home to the best and largest group of buyers possible, those that are already working with agents!
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March 09 2010
Profile picture for rockinblu
I think your chances for a successful FSBO are greatly enhanced by being on the MLS. For another 90 bucks or so, to me it would be a no-brainer.

http://www.trulia.com/blog/rockinblu/2008/08/thinking_about_doing_a_f_1
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March 09 2010
You really need MLS. Over 90% of buyers work with buyers agents. You will have to pay them a commission, if you don't put it in MLs you may only be marketing to 10% of the buyer pool and you don't know if they are qualified.
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March 10 2010
MLS is very important in our market. Although you are doing a great job with other online marketing, you are limiting yourself by not opening the sale up to the realtors in the area.
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March 10 2010
Profile picture for sunnyview
You need MLS! MLS is an important key to bringing you buyers that already have agents working with them. You also need to consider adding a set commission for agents representing buyers of 3%. Many agents will not want to show your house to their clients if they will not receive any consideration for you.

Your online marketing plan looks good. Add the MLS also make sure you are priced right or slightly below the last sale in your area. Good luck with your marketing plan.
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March 10 2010
Profile picture for kouirouk
I just want to thank everyone for their valuable input. I would also appreciate any input on my website: www.28valleyrd.com
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March 11 2010
Yes, get on your local MLS. I suspect the neighborhood and price range is one that attracts buyers who use agents and this is important. Your website, while attractive, is abit too much. Five different pages (clicks) for description is more than the average has the patience for. I also feel that your descriptions need some fine tuning. You note "approximaely" 3212 sq ft of living area. That seems pretty exact. I might suggest an easier number for people to absorb, like 3200. The same holds true for the lot size. Too many numbers for people. "More than 1/2 acre" or something along those lines "might" be a better use of descriptive words people can relate to. Very nice to have lots of pictures, but try refining  the description a little to fewer words, less precise detail and fewer pages. Try 2 1/2 baths & double garage. It almost seems unnecessary to include "detached single family" as it is otherwise pretty obvious. Just my opinion.
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March 11 2010
Profile picture for kouirouk
Thank you jkonstant. Your points are very well taken. I am sorry but I am a very detailed oriented person:) As far as too many pages, I assumed it will be "better" to split the information into their own sections. Again, I assumed it would be easy to navigate with the arrows.
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March 11 2010
Well, there are really two major goups to which agents market your property.  The first is directly to the public via many of the sites you mention.  The other is to market to other real estate agents because most buyers in the market have an existing relationship with an agent.  One of the primary ways these agents find properties is through the MLS which also assures them of being compensated if they do bring a buyer.

But there is another added benefit of listing with an agent and placing your property in the MLS.  In most instances, your listing information will end up on all the major real estate company web sites, too.  This means RE/MAX, CB, C-21, your large local independents.  This broadens your home's exposure to the marketplace.

If you should choose to list with an experienced agent, there is also the advantage of the negotiatiing expertise, the technical paperwork and proper disclosures.  If you're considering listing, interview serveral agents and don't just choose one because their your nephew's best friend.  Hope this helps.
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March 12 2010
   Listing on MLS is essential to sell in this market.  Aligning yourself with a competent agent will enhance your exposure and pay for itself manyfold.  You will receive the additional exposure of Brokers Tours and be more likely to be shown. You will get the enhanced exposure of their office tour, as well as being treated "like a new listing" as the property is introduced to the realtor market.  If you have not been successful selling it within 30 days, your likelihood as being perceived as a stale over-priced proeprty grows with additional delays.
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March 12 2010
Profile picture for kouirouk
I understand the importance of the MLS and its benefits however I would have to disagree with your statement: "If you have not been successful selling it within 30 days, your likelihood as being perceived as a stale over-priced proeprty grows with additional delays.". Most homes in my area stay on the market way more than 30 days regardless if they are sold by an agent or FSBO. I am also constantly checking the market to make sure that my property is competitive.

Thank you
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March 13 2010

FSBO's are nothing more than another business model that we as agents should embrace rather than dismiss, ridicule or attempt to conince that they are wrong in going it this way. Lenders, appraisers, inspectors, attorneys, title companies and agents all benefit from having yet another source of revenue at their disposal. All sellers are FSBO's. Some choose to have agents handle the marketing and once that is done, the facilitation of the process. The idea that somehow an agent will negotiate a better deal comes from the same source that tells buyers the same thing. Which is it?

Kouirouk asked a simple question and received too much unnecessary commentary and suggestion from "professionals" who, when the time comes to sell their own property, will be little more than FSBO's using the MLS and saving the "list" side of the commission.

Kouirouk, read everything that Rockinblu has written and posted about FSBO's. He is the most informed person I know on the subject, has researched the many topics and issues associated with selling a home and presents the facts in a way that does not dismiss the value of agents. It is mostly agents, and I am one, who present what we do as beyond the capabilities of others.

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March 13 2010
For the same reasons you bought through a realtor in the past, most people know that buying direct from a seller leaves them without the tools of a skilled negotiator who knows the current market and neighborhoods representing them.  You may feel confident dealing without representation, but the average buyer does not.  In California and most states, the seller is paying for the buyers agent commission. So, buyers want what they perceive to be "free" representation and the vast majority of buyers use a realtor.

Realtors lead most of the traffic to listings and MLS is the best source for gettting their attention.  Without intending any insult here, if your methods were working well enough, you would not need the answer to this post. You would already be in contract.  The MLS network is so effective that even very established realtors with their own network of buyers and sellers would not think of circumventing MLS over paying their fees.  I hope this was helpful.
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November 05 2012
If the activities you have tried to advertise your home aren't making the phone ring, there may be a couple of problems.

1.  You may not be reaching as many qualified buyers as you think, thus it might make sense to leverage the MLS - the database used be Realtors nationwide.
2.  Your home might be overpriced.  
3.  Your home might benefit from curb-appeal improvements.

A great Realtor should be able to address all three of those points for you.  However, if you still prefer to sell you home on your own, there are many wonderful articles online that can help you.  Unfortunately Zillow will not allow me to share links with you here.

Best of luck!

Chad Gray PA, Realtor
Luxury Living Fort Lauderdale
Coldwell Banker Residential Real Estate

[Promotion removed by Zillow moderator. Please see our Good Neighbor Policy.]
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November 05 2012
 
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Should I list on the local MLS?
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