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Why Sell By Owner With A Flat Fee Mls Listing?

 
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Lawrence Bunnell

Maybe you've heard that there a few drawbacks to selling your home with a for sale by owner listing. Or maybe you've driven by a home in your neighborhood with a for sale by owner sign in the yard that's been on the market for ages – while nearby homes have already sold.

Are these flaws with selling a home for sale by owner? They can be; however, they can be avoided simply by combining a for sale by owner property and a flat fee MLS listing.

With a flat fee MLS listing, for sale by owner sellers will be able to have their property listed alongside others in the same MLS – multiple listing service – that sellers' agents use when they represent a property. The difference is that, when your property sells, you won't have to pay a high commission to a seller's agent.

As the name implies, a flat fee MLS listing is offered at a flat fee from a real estate broker who specializes in flat fee transactions. With a flat fee MLS listing, for sale by owner sellers can be sure that:

the property that they are selling receives the exposure that it needs. This means that their home will be added to the multiple listing service so that buyers' agents who are looking for properties in an area that match a certain description will see a for sale by owner listing alongside agent represented properties;

buyer's agents will feel comfortable showing the property to the buyers they represent, confident that their commission for finding a buyer will be paid;

their property will be marketed online through listing sites like Realtor.com and other more regional sites. As a result, buyers who are searching for homes on their own will also be able to find the listing and arrange to see the property;

they have access to additional marketing materials for advertising their for sale by owner home in print as well as tips and tools designed to make selling a property as simple as possible.

In other words, those for sale by owner sellers who add a flat fee MLS listing as a tool for selling their home will be able to feel confident that more prospective buyers – and their agents – are aware that the home is on the market. For sale by owner sellers will also be able to rest assured that they have some guidance throughout the selling process.

As a result, these sellers who use a flat fee MLS listing will find that they are able to take advantage of many of the same benefits as someone selling through a real estate agent – just without the cost of a commission when the property does sell.

Though a flat fee MLS listing does not bring in an agent who will do much of the work – with a flat fee MLS listing your home will still be for sale by owner and you'll need to do much of the work yourself – it can provide peace of mind as well as marketing exposure for your property. A flat fee MLS listing, therefore, can make the process of selling a home for sale by owner much simpler.

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Lawrence Bunnell is a Partner and the Principal Broker of IHS Realty, an Internet based, real estate brokerage company offering consumers online, flat-fee, 'a la carte' real estate brokerage products and services. Lawrence has been a full-time licensed REALTOR® since 1984 and is currently a licensed real estate broker in Virginia, North Carolina, Maryland, Georgia, South Carolina and Pennsylvania. In addition to his role as the firm's Prinicipal Real Estate Broker, his duties include serving as the head of web application design and development and Internet marketing initiatives for IHS.http://www.ihsrealty.com/
Article Tags: fee [See Dictionary], listing [See Dictionary], sale [See Dictionary]
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Article published on July 31, 2007 at Isnare.com
 
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