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How the MLS Works for For Sale By Owner Sellers As a seller, your home is listed in the Multiple Listing Service (MLS) by a participating member of the MLS (like FlatFeeMLSListing.com and our affiliates). Your listing includes a color photo, detailed information about your home (bedrooms, square feet, and much more), and the cooperative commission being offered to the agent helping the buyer.
MLS is the Most Powerful Tool for Selling Homes
Agents that are working with
buyers check the MLS many times a day looking for homes in a particular
area, price range, and amenities. The MLS sorts the homes
and shows only the homes that meet the buyers criteria.
How MLS Works with Commissions
The agent will then show your
home at the scheduled time and contact you if the buyer has questions
or wishes to make an offer. Should you choose to accept an
offer from that buyer, you will pay the commission amount you have
listed in the MLS. The commission amount is listed in the
MLS, so it is not generally negotiated in the transaction.
Often, the commission is not even discussed by the agent.
If you accept an offer from
a buyer without an agent, you do not pay any percentage commission.
You are not required to accept any offers. You are free to
advertise your home in newspapers, other places, and hold open houses
if you wish. (Consult local MLS rules for specific information).
Sell As Fast
As Full Priced Agent Listed Homes
This listing process is the
same regardless of whether you list your home with us or a full
priced real estate agent. Because of the cooperating commission
you are offering, your listing looks the same as other homes for
sale listed by full priced agents. Agents
are just as motivated to sell your home as any other home for sale.
Nearly every local real estate company participates in the MLS,
so an MLS listing puts thousands of agents to work on selling your
home.
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