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How To List Your Home On The MLS Without A Realtor - 5 FSBO Tips - YouTube
Channel: I Sold My House
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Are you thinking about selling your house
and saving a WHOLE bunch of money by NOT using
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a real estate agent?
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Selling as a For Sale By Owner (or fizbo as
those of us in the real estate biz call them)
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certainly has it’s advantages.
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But did you know… that the BEST real estate
marketing a fizbo can do is to list their
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house on the local MLS?
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Thats right, the MLS is a POWERFUL marketing
tool that ALL the local real estate agents
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use to find homes for sale, get property information,
download disclosures and most importantly
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setup showings for their buyer clients.
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So you can get a whole bunch of offers to
buy your home and you can pick the BEST one!
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The MLS will get your listing MAXIMUM exposure
to buyers who are searching for homes like
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yours.
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And the buyers that come from the MLS are
the serious type that will pay TOP dollar
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for your home.
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Not the type of buyers that will just waste
your time.
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However, in order to use this tool correctly,
there is some key information you need to
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know so you don’t get yourself into trouble.
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Here are 5 tips you need to know about listing
on the MLS without a realtor.
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So you can SUCCESSFULLY sell your house!
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#1 the MLS is for Realtors ONLY
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You heard that correctly, ONLY licensed Realtors
can list homes on the MLS.
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This is because the MLS is a tool for real
estate agents and NOT fizbos.
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I’m sure you are asking… how does this
help me if I want to sell for sale by owner
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and SAVE money?
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Well, there is a DIFFERENT type of real estate
broker that will provide a very limited type
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of service.
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This type of broker will list your house in
the MLS for a low flat fee of a few hundred
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dollars and THEN allow you to market and sell
the house on your own.
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This type of service is called a “flat fee
MLS listing” and is the ONLY way to list
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your house in the MLS and STILL retain the
right to sell for sale by owner.
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This service is possible because you will
sign a listing agreement with the flat fee
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MLS broker that allows you to retain the right
to sell the house on your own and NOT pay
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a high commission.
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The low flat fee is ALL you pay.
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Which brings me to the next tip.
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#2 - A Listing Agreement is Required
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Remember how we said you need to list your
house with a flat fee MLS real estate broker
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in order to list on the MLS?
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Well, the MLS requires that all listings have
a signed listing agreement between the home
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seller and the broker.
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Typically the listing agreement is an “Exclusive
Agency” listing agreement.
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But an “Exclusive Right To Sell” listing
agreement may also be used.
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Always read the agreement to understand what
you are signing to make sure that you can
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cancel without penalty and will not owe a
listing agent commission when your home closes.
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However, the listing agreement does bind you
to paying a buyers agent commission.
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That’s of course ONLY if you sell your
home to a buyer that is working WITH an agent.
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If you find a buyer that is NOT working with
an agent, you don’t pay ANY commission at
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all!
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And here’s the deal with commission.
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#3 - Offering Buyers Agent’s Commission
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A buyers agent commission needs to be offered
on the MLS for agents to be notified what
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they will be paid.
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Just so you know, most buyers ARE working
with an agent so offering a commission is
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to your advantage.
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The recommended commission is between 2-3%
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If you go lower, you run the risk of agents
playing games and HINDERING your home sale.
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You want to offer an COMPETITIVE commission
and have ALL the local buyers agents working
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FOR YOU and NOT against you!
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That’s just a smart move on your part!
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#4 - You Will Get Listed On Realtor.com, Zillow,
Trulia and Everywhere Else
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Perhaps one of the BEST things about listing
on the MLS is that your home will automatically
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best listed on ALL the national real estate
websites and apps.
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Between Zillow, Trulia and Realtor.com, that
covers MOST places where buyers have downloaded
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apps or setup new listing alerts for houses
for sale.
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But you will ALSO be listed on Redfin, Homes.com
and many, many others.
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Another benefit of the MLS is when a change
is made to your listing, such as a price change
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or schedule an open house, the change will
be made on all these sites AUTOMATICALLY!
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Also, the ONLY way to list your house for
sale on most of these websites like Realtor.com
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is by being on the MLS!
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But don’t list your home in the wrong MLS!
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#5 - You Need To Be Listed On The Correct
Local MLS
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Did you know that there are over 600 MLS’s
in the United States?
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There is not a national MLS, they are ALL
local to your area.
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That’s why you need to work with a REPUTABLE
flat fee MLS broker that will make sure your
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home is listed in the CORRECT MLS.
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If you are listed in the wrong MLS, buyers
agents will NOT see your listing and your
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home will sit on the market.
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So make sure you purchase a flat fee MLS listing
from a REPUTABLE company… such as I Sold
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My House.com
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Yea, I know that was a shameless plug for
our website but it’s TRUE!
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So get started today on selling your house
and saving thousands with a flat fee MLS listing
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from I Sold My House.com!
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