MLS Listing Service
What is an MLS listing service? An MLS listing service is a service provided by a licensed broker-member of your local MLS, whereby your property is placed on the MLS database for a flat fee. In many ways, it is like listing your property in the MLS while maintaining For Sale By Owner status. I say "like" because technically you are no longer a true For Sale By Owner. Being listed by a broker allows you a number of benefits, though. While you still can handle your own negotiations of contracts, you have access to state association-approved Realtor® purchase contracts and other forms. These forms have been refined and are catered to a particular state and/or area. Additionally, being listed in the MLS allows a seller to offer a commission to any broker-member who brings a buyer that successfully purchases the property. The amount is determined at the time of listing; 2.5 to 3 percent of the purchase price is not uncommon, although there is no set amount required. Some sellers do not like to be required to offer anything to a buyer's agent, or like the flexibility to offer whatever they feel like at that time. It is important to understand how the system works, however, and that offering a set amount of commission upfront will allow not just one Realtor® but the entire Realtor® community to seek out buyers and show them your home with confidence that they will be paid an upfront, agreed upon amount. In a way, you are hiring an entire sales force to help sell your home.
It is important to understand that all MLS's are local. Being placed on the Phoenix, Arizona MLS (called the Arizona Regional MLS) will not benefit a seller in Payson, Arizona very much; their home should be placed on the Payson, Arizona MLS (called the Central Arizona Board of Realtors® MLS). Even if your buyer is coming from Phoenix to relocate or to purchase a vacation home, they generally hire a local Payson-area broker to show them homes. If they hired a Phoenix broker without Payson MLS access, they would probably quickly get frustrated when they realized that broker had no access to the local MLS database. Websites that display listings for a particular area have data sharing agreements with the local MLS for that area to display those listings. For instance, various newspaper websites receive an MLS data feed from their local area MLS.
Another thing to keep in mind when it comes to MLS listing service, is that you want to make sure that the broker providing this service has experience providing this service and will continue to provide this service in the future. As many people are aware, becoming a real estate agent is a lifestyle choice as much as a job choice and false expectations and the sheer number of competing agents leads to tremendous turnover in the industry. Many agents join the industry, dabble in a few different niches with limited success, then drop out when they realize that reality does not match their expectations.
Related Tags: flat fee mls, mls listing service
Donald Plunkett of Congress Realty is a leading MLS listing service provider for the Western United States. His flat fee MLS listing program was featured in Realtor Magazine, ABC News, MarketWatch and in other media. More info: http://www.congressrealty.com Your Article Search Directory : Find in Articles
Recent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t