The Smart First-Time Home Seller's Guide by Thomas.K Lutz

Author:Thomas.K Lutz
Language: eng
Format: epub
Tags: selling a home, sell home, home selling, selling a house, selling condo, selling my home, selling real estate
Publisher: Thomas.K Lutz
Published: 2018-01-17T00:00:00+00:00

Chapter 5: Listing And Showing The Home

AFTER MUCH DELIBERATION, you have chosen to sell through a top producing agent and you have “staged” your home on a budget to maximize its worth and showing potential. You have agreed upon the best marketing strategy set by your Realtor according to local supply and demand, and you have established an appropriate price for your property. You are finally ready to list. You will need help if you are going to gain the exposure you need while listing to achieve a successful sale as a first time home seller.

Top Agents use listing services to gain maximum exposure for their clients' properties. Your Top Producer will likely use a Multiple Listing Service (MLS). More than 80% of homes that sell are listed on their local Multiple Listing Service. As a home seller, the MLS gives you a lot more exposure to buyers. It is the best and most efficient way to list your home. Many buyers use real estate agents that also use the MLS as their main tool to locate homes for their buyers. If you are amongst the one in five sellers who choose not to sell through the MLS, you are crippling your odds of a successful sale within a desirable time frame.

Once you list on MLS, Realtors throughout the area are notified directly about your property and can start bringing prospects to you. Every real estate agent in your vicinity will be able to see your home when you list on the MLS. If you choose this route, you will dramatically increase your chances of selling quickly. Keep in mind that if an agent on the MLS is able to help you find a buyer, you will have to pay a buyer's agent commission, which is typically 2% or 3%.

The “MLS” is the database owned by various real estate agents and their regional trade associations. MLS systems are the primary channel used amongst agents and brokerages to publicize listings. Every day, new listings are entered in the database and dispersed to all subscribing agents and services. Active marketing for your home through the MLS usually includes open houses, agent tours, and the inclusion of your property in the MLS's download to other real estate sites regularly used to search for properties.

Listings that are marketed without the benefit of the MLS are called “off-MLS listings”, or “pocket listings”. An off-MLS listing, as the term suggests, is marketed by a single agent to one or two select potential buyers. The marketing pool can be so shallow that, in some cases, other agents working for the same brokerage may be completely unaware that a fellow agent has an off-MLS listing.

Many real estate professionals believe that off-MLS listings are not in the best interest of the property owner. These listings do not get the exposure that properties on the MLS do, which can significantly decrease the number of offers those sellers will receive. So why do home sellers agree to do this? Some off-MLS

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