Listing a house with a real estate agent isn’t cheap. The average cost of listing a house with a realtor is around 6%. For a house that costs $250,000, that comes out to around $15,000.
If you’re looking to list your home for sale, you’ll likely want to use a multi-listing service (MLS). An MLS saves you from having to do unnecessarily repetitive tasks. When you’re selling a home, you’re bound to have plenty to do without making extra work.
The only problem is that the rules are different from state to state.
If you’re in Georgia, we’re going to show you how to make Georgia MLS listings on your own.
Your Guide To Georgia MLS Listings
You used to have to work with a realtor to list your house on an MLS. That’s no longer the case. You can make your own listing if you know what you’re doing.
Reasons To List Your Home With An MLS
Listing your home on an MLS also posts your home to local real estate sites. Let’s dive in and learn how you can make your own Georgia MLA listings.
There are a few different ways you can go about doing that. We’re going to look at a few of the most popular.
For Sale By Owner
For Sale By Owner (FSBO) means that the owner is doing all of the work of selling the house themselves. It’s where the owner advertises the property via traditional avenues and then waits for potential buyers to contact them.
The problem with this approach is the lack of exposure. Your audience is mostly limited to Craigslist ads, Zillow FSBO listings, or whoever happens to see the sign in your front yard.
Luckily, there are ways to get your FSBO listing shared to an MLS site. It usually involves spending a flat-fee.
FSBO Flat-Fee MLS
Traditionally, only realtors are able to list a property only multi-listing sites. This is still somewhat the case, but you can work with these limitations.
Many realtors will list your property on an MLS for a one-time fee. This is known as an FSBO flat-fee MLS.
With a FSBO flat-fee MLS, you pay a realtor one lump sum to post your listing to an MLS. Their involvement with the process stops there, however. The fee tends to be significantly lower than a realtor’s commission, as well.
What Comes With A Flat-Fee MLS Listing
When a realtor lists your property to an MLS site the service is acting as your listing agent. They will be the ones to maintain your MLS listing and act on your behalf. The listing agent will essentially monitor interested parties and act as a lead generator.
When you sign up for a flat-fee MLS listing you’re given some forms to fill out. These are usually filled out online and not paper forms. The forms are relatively basic but you’ll need to make sure they’re complete and accurate. This is how interested buyers will find and contact you.
The real estate agent lists your home on the MLS site and will be shown as the listing agent. Your info will be added on the listing as the buyers agents. This allows you to set up a showing, negotiations, or to field requests for additional information.
Your listing will usually stay active on an MLS for between 6 and 12 months. You’ll need to verify that with your listing agent, however.
Once your home is listed on the MLS site, all of the remaining duties are your responsibility. The listing agent will forward potential buyers to you. You’ll need to set up viewings, hold open houses, negotiate with buyers, and handle any additional marketing that needs to happen.
Things To Keep In Mind With A Flat-Fee MLS Listing
Once you’ve signed up for a flat-fee MLS listing, you’ll need to send photographs to your listing agent. Don’t skimp on this step as these pictures are how you’re going to attract and entice potential buyers.
If you’ve got the money, you might want to consider hiring a professional photographer to take pictures of your property. If you’re going to take the pictures of your property yourself, you should research how to take the best, high-quality real estate photography as possible.
Tips For Taking The Best Real-Estate Photography:
- Invest in an actual camera if possible rather than relying on your smartphone
- Use natural light whenever possible
- Use a tripod if necessary
- Examine the home ahead of time
- Investigate the best time to take photos
- Turn on all the lights
- Use creative angles
- Stage the property
- Edit colors afterward
A lot of homeowners are even including video in their real estate listings. You might want to shoot some kind of video to go along with your high-quality photos to make your listing that much more enticing.
Sign A Listing Agreement
Once you’ve filled out the necessary forms and taken the photographs, you’ll need to sign a listing agreement with the agent or brokerage. These will lay out the terms of what the agent is responsible for and what is yours.
Most real estate agents will offer two main kinds of listing agreements. An exclusive right to sell agreement is where you pay the brokerage whether you sell your property or not. ]
An exclusive agency agreement allows the seller to market their listing themselves outside of the MLS. If you find a buyer yourself you’re not responsible for paying fees or commissions.
How Much Money Can You Save With A Flat-Fee MLS?
The answer to that question is going to vary but it’s quite a bit. As we said at the beginning of the article, real estate brokers usually charge a percentage. Even a 3% commission can save thousands of dollars.
A one-time MLS fee is usually a couple of hundred dollars at the very most. That means you can often save up to several thousand dollars. That’s not even for a very expensive property, even.
How To Decide If A Georgia MLS Listing Is Right For You?
Selling a property is serious business. It’s work, and often a lot of it. Before undertaking a FSBO MLS listing on your own, you need to make sure that you’re up to the task.
Once your property’s up on the MLS site, everything else is up to you.
You’re going to need to schedule all of the property viewings. You’ll need to organize all of the open houses. You’re going to have to be up to negotiations, which requires having an understanding of your local real estate market.
For starters, once you begin the process of selling your house in earnest, make sure you’ll be able to take time off of work or be flexible enough with your schedule to handle viewings and open houses.
You’ll also be in charge of marketing your MLS listing, as well. This means to a certain degree you’re still performing duties similar to a regular FSBO campaign.
You’ll want to list your property to Craigslist semi-regularly, for instance. You can also market your property listing through various local real estate communities, like Facebook Groups or Marketplace.
Before undertaking selling your house without an agent or broker, make sure you’re mentally prepared for the task. It’s a business, like any other. You may need to take some time teaching yourself marketing or advertising.
Really think about how much time it’s going to take to sell your house. Then think about how much your time is worth. Really be honest about this because if it’s too much, you may be better off just paying the broker’s fee.
You can save serious money, however, when you go about selling your house on your own. You don’t need a real estate agent or brokerage just to list your house with Georgia multi-listing service.
Selling your own house or property gives you complete control over the entire process. No one can sell your property quite like yourself. You know it’s ins and outs, ups and downs. You love it and that will come across to potential buyers.
Looking To Sell A House In Georgia?
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