Your home is your largest asset, and selling it allows you to realize its value. Unfortunately, real estate agent commission takes away from the profits you could receive. Paying commission is not something you need to be concerned about if you use it for sale by owner websites to list your home. You get control of the process and receive all profits from the transaction. While that’s enticing, listing on a for sale by owner website can be daunting as all the responsibility falls on your shoulders. Thankfully, this guide reveals how to complete an FSBO sale using for sale by owner websites to list on MLS.
What Are For Sale By Owner Websites?
There are two kinds of for sale by owner websites: traditional DIY options and DIY-assisted ones.
The first option, traditional DIY, would include listing on Craigslist, Facebook Marketplace, and Zillow. Yes, you can sell your home on these websites, but the process will be tedious, requiring you to oversee every aspect of the process, even the more nuanced legal processes.
The second option 一 DIY-assisted options 一 still gives you control of the transaction and the listing but makes it easier and quicker for you to sell. Using this option, you get state and federal disclosures, syndication of your home on MLSs and popular property websites, among other features. This option is often referred to as Flat Fee MLS because of the access you get to buyer agents in your state or county through the MLS.
However, unlike listing on Facebook Marketplace or Craigslist, there’s a fee attached to using a flat fee MLS.
The fee is crucial to the transaction, as the website serves as a listing agent 一 a prerequisite to listing on MLS. However, the nominal fee 一 typically less than $500, regardless of property price 一 enables you to find high-intent buyers. This usually means you will get more for your property than you would if you were to list on Facebook Marketplace, Craigslist, or Zillow.
Guide to List on MLSs Through a Flat Fee MLS
Now that you understand the importance of using a flat fee MLS, knowing how to utilize one is critical as this will expedite the sale.
Stage Your Home
Deep clean your home, have your lawn and garden landscaped and reduce clutter to make your home as visually appealing as possible. This process is necessary for any real estate transaction, but especially when you’re using it for sale by owner websites.
Have a Professional Photographer Take Pictures
Although you may have the equipment to take striking pictures, a professional real estate photographer can also edit images to make your home appear more appealing to buyers. They may even be able to take 3D Virtual Tours of your home.
Prepare The Necessary Documents
Since you are selling your home for sale by owner websites, you need to have your documents prepared as many flat fee MLS options will require you to upload these documents during the onboarding process.
Before you list, you will need your original sale contract, which should include disclosures from the sale between yourself and the previous owners and any contingencies in the deed transfer.
Find a Suitable Flat Fee MLS
Now it’s time to find a suitable flat fee MLS. There are plenty of nationwide and local options, but this variety can often make the process more overwhelming than it needs to be.
While there are a few good local options, most of the flat fee MLSs that are going to offer the most comprehensive service are nationwide ones.
Great choices are Houzeo, which 一 besides allowing you to list on MLSs 一 enables you to complete the entire process from listing to counter offering and closing the sale online. ISoldMyHouse.com and FSBO.com are excellent choices but are not as cost-effective or all-encompassing as Houzeo.
Select a Listing Package
Most flat fee MLSs separate their services between two or three tiers. The tiers are divided by price. Lower-priced options offer simple solutions that require the seller to put in more work, and the higher-priced options provide sellers with additional features that simplify the sale process.
In this step, do not let price dictate your choice. Instead, choose an option based on your experience selling property and the amount of time you are willing to invest into selling your property.
If this is your first time selling your home, choose a listing package that offers more assistance beyond simply enabling you to list on MLS.
Given that your home is your greatest asset, you don’t want to select a cheaper option only to have your home sit on the market for months or have a deal fall through because you didn’t have the necessary paperwork.
Prepare for Viewings
The best part about using a flat fee MLS is that you get to have the buyer’s agent complete the walk-through of your property during viewings. All you have to do is purchase a lockbox 一 which shouldn’t cost more than $50.
Negotiate The Sale
Once you’ve had a few viewings buyers are likely going to start making offers. Using a flat fee MLS, you don’t have to navigate the offer process alone. Services like Houzeo allow you to accept offers, submit a counteroffer and request a final and best offer from your user dashboard.
If you want to expedite the sale of your property and get a lucrative deal for your home, you need to list it on MLS. The only way to do this is to use a flat fee MLS, a more user-friendly way of navigating for sale by owner websites.