For Sale By Owner MLS - The smarter way to sell your home.
Selling for sale by owner MLS on your own without giving up the marketing exposure provided by the Realtor® MLS.
For Sale By Owner MLS is the new, smarter way to sell your home by owner. By Owner Sellers looking to save their valuable home equity have long looked for alternatives to the traditional real estate brokerage model. The problem is that the Realtor's MLS is the de facto marketplace for homes for sale. The vast majority of home buyers, (over 75% according to a 2007 NAR survey) purchase their home from a real estate agent and broker. The problem for 'For Sale By Owners' is that unless their home is listed in the MLS, they are missing out on the exposure to over 80% of home buyers in the marketplace thereby decreasing demand and ultimately lowering the sales price for the property.
Paying 5-6% of a home's value to a traditional real estate broker may have seemed appropriate when homes were selling for under $100,000, but in today's market, new realities exist. With average home prices in some areas exceeding $500,000 paying a commission of $30,000 seems a bit excessive in most cases. In response to the growing demand from consumers for economical access to the MLS, a new, innovative business model know as For Sale By Owner MLS has arrived on the Internet to provide alternatives for by owner home sellers.
For Sale By Owner - FSBO - MLS is term often used to describe new, online brokerage models that give home owner's access to the Realtor Multiple Listing Service (MLS) for an up-front, flat fee, rather than a relatively large real estate commission paid at closing. Somewhat of a misnomer, FSBO MLS stands for a type of real estate brokerage called Flat Fee MLS or MLS Entry Only listing.
With FSBO MLS, a home seller contracts with a transaction broker to place their home in the MLS for a low, flat fee. This provides the by owner seller with an entre´ to all of the real estate agents and their buyers within their property's metropolitan or regional area. The for sale by owner MLS seller, of course, does the work that a listing broker would generally perform such as handling buyer calls and showing the home. In the event a buyer agent sells the home for the for sale by owner MLS seller, the seller agrees in advance to pay a buyer agent fee (usually just half of what a traditional broker would charge 2.5% - 3%). If, however, the seller is able to sell on their own, they pay NO commission!
For Sale By Owner MLS allows by owner FSBO home sellers to retain more of their home's equity without giving up the critical exposure of an MLS Listing. And, in fact, it now provides even more exposure than ever since MLSs are currently sharing their property listings with public facing real estate websites, like REALTOR.com. It's now estimated that over 85% of home buyer's start their search for a home on the Internet. You won't want to miss out on this exciting opportunity to sell by owner using the MLS.
