Last Updated on October 15, 2022 by
For most sellers, navigating an FSBO sale is unfamiliar territory. Unlike selling with a traditional real estate agent, when you choose to sell on a flat fee MLS, there isn’t the option to rely on a realtor’s expertise and assistance.
This can make it more daunting but shouldn’t make the process any more challenging, especially if you rely on this list of do’s and don’ts that will give you greater insight on how to list on MLS with confidence.
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The Do’s of How to List on MLS Listing Websites
If you want your home to sell quickly, at or above the asking price, follow these do’s.
Do: Offer Competitive Buyer Agent Commissions
If you want a quick and lucrative sale, you should focus your attention on offering a competitive commission to buyer agents. Usually, flat fee MLS listing services limit how much commission you can offer to between 1 percent and 3 percent.
However, there are flat fee MLSs like Houzeo, that allow you to increase buyer agent commission in 0.25 increments, starting at 0.25 percent and going up to 4 percent. While 0.25 percent may not seem like much — and will hardly affect how much you spend on real estate commissions — buyer agents will notice.
That increment enables you to offer slightly above market-related commission, substantially increasing the amount of interest you have in your home because buyer agents will be clamoring to secure the commission.
Do: Keep Your Home Clean While Your Home is on the Market
Cleaning your home isn’t limited to knowing how to list on MLS successfully, it is essential whenever you’re selling. Nevertheless, if you want to know how to list on MLS and get plenty of offers: keep your home clean throughout its listing period.
That way, any time a potential buyer wants to view your home with little or no notice, you don’t need to be concerned about the mess.
Messy and cluttered properties can often turn buyers away because if the home is dirty, which is an easy fix, buyers will suspect there’s something else wrong with the property.
Do: Have Your Home Professionally Photographed
The primary difference between listing with a traditional real estate agent and listing with discount real estate brokers or on flat fee MLS is the former will have your home professionally photographed before listing the home.
With an FSBO sale, this responsibility becomes yours. However, it’s not that challenging. All you need is $200 and Google, and you’re one step closer to hiring a world-class real estate photographer that will ensure you have beautifully edited and professionally captured pictures.
Do: Consider All Offers and Negotiate
Real estate agents can often help sellers be more objective when selling their properties. When using a flat fee MLS, you need to ensure you’re being objective and realistic.
For that reason, it’s important to be open to the offers you receive. Besides, if a buyer is interested in purchasing your property, they will be willing to negotiate.
The Don’ts of How to List on MLS Listing Service
Sellers often jeopardize the sale of their home unknowingly, but if you avoid these don’ts you won’t find yourself in that position.
Don’t: Overprice Your Home
If you want to repel any serious buyers from considering your property, overprice it. Overprice doesn’t only mean pricing above the average selling price of homes in the area, but also pricing more than what a buyer will be willing to pay for your home. To understand what a buyer would be willing to pay, you need to put yourself in the buyer’s shoes.
While you can get a Zestimate on your home, to get an accurate idea of what your home is worth and determine a reasonable price, you should consider the property’s condition.
Properties that need more structural and aesthetic upgrades will cost less than move-in-ready homes.
Don’t: Make Your Home Unavailable to Potential Buyers
Never turn down a buyer’s request to view your home as you don’t know when you could be turning down a great offer. Instead, an easier way to have great success with discount real estate agents or flat fee MLS is to purchase a digital lockbox that gives realtors access to your property without the need to be present.
Don’t: Interrupt Your Buyers While They’re at the Showing
You want your buyers to feel comfortable while at the showing. You want to give them the space to discuss their concerns and get acclimated with the property. If you’re present, buyers won’t feel comfortable opening cabinets, discussing flaws and faults, or their intentions with the property, which could make examining your home to see if it’s a good fit a challenge. The result is them overlooking your home when they start making offers.
Don’t: Hide Problems From Potential Buyers
Unless you want to jeopardize the sale of your home, you should never hide issues from buyers.
Buyers may need to know about the property’s condition to determine if it meets the prerequisites of their mortgage loan.
It can also ensure that buyers are not blindsided by what could be revealed during the inspection.
If you want to guarantee that you have a successful sale when either selling through an MLS or discount real estate agents, knowing what to and what not to do will guarantee its success.
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