Once upon a time, a FSBO sign outside of a home meant the seller was in financial trouble – or too crotchety to work well with an agent.
Those days are long gone.
A FSBO sign outside your home means there’s a savvy seller who knows she doesn’t need an agent to complete the sale of their property.
But that sign isn’t going to sell the FSBO home on its own. Well, it might, but it’s unlikely. FSBO sellers will need a listing on the MLS.
What Is the MLS and Why Is It So Important?
The MLS stands for Multiple Listing Service, and it’s the best friend of everyone in the property buying and selling world.
Multiple Listing Service does sound a bit vague, but it’s rather descriptive. If you’re planning to sell your home (FSBO or not), you know you need a listing somewhere to market your home to potential buyers. This listing is an advertisement that describes the benefits of your property and includes the details someone might need to make a decision on whether a home has value to them.
You could run this listing once on a single service platform. For example, you could buy a spot in the classified pages of your local newspaper. For the money you pay, you might get a week or month of listings, but then you’re done. Anyone that doesn’t subscribe to that newspaper won’t see your advertisement.
That’s where the multiple in MLS comes into play. Your listing reaches many services. Those include the pages of local real estate agents (who could act as the buyer’s agent on the sale of your home), as well as important and general property platforms such as Trulia and Zillow.
When you list on the MLS, you can be certain that almost everyone interested in the market has access to view your listing.
You Don’t Need a Seller’s Agent to List Your Home on the MLS
Before the Internet, the MLS was firmly in the hands of agents. It was simply too complicated a process for individual sellers to worry about ensuring their home was marketed in the right places. There were far greater expenses involved.
That’s not the case today. You can access the MLS and post your listing through our service for a small fee rather than paying a selling agent a portion of your home’s value. That’s a significant saving.
It’s an even better deal when you realize that the MLS role in the sale of homes has grown along with Internet usage. These days, home buyers don’t begin their search by cruising neighborhoods they like; they grab their tablets or laptops and take a look through listings on the Internet.
Of course, you still want that sign out front. You might be surprised who will see it.