The economy is facing strong headwinds, which has made every homeowner reconsider their budgeting. Considering these economic challenges, what may have seemed like a no-brainer expense – namely real estate agent commissions – is starting to feel a tad bit unnecessary, causing more homeowners to consider an FSBO sale. But homeowners are still hesitant to commit to an owner sale because of the horror stories that typically accompany such sales.
Enter the flat fee MLS Michigan sellers rely on to bypass the hefty 6% real estate agent commission but still achieve their desired sale price.
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Why is the MLS Important and How to List on MLS?
If you’re one of the sellers considering an FSBO sale but hesitant because you’ve heard these homes typically take longer to sell and sell for less, you probably don’t understand how the MLS fits into the equation. The FSBO horror stories you’ve heard have to do with a lack of access to the MLS.
The MLS (multi-listing service) is only accessible to licensed real estate agents and is where buyer agents go to find properties to suggest to their clients.
While buyer agents can use sites like Zillow to find homes, they are only open to properties listed on the MLS because it shows them how much commission they’ll receive after the sale of the property.
Before, FSBO sellers couldn’t access the MLS, delaying the sale and costing them a fortune in unrealized profits. All of this stemmed from their inability to access the majority of buyers.
Flat fee MLS companies change that dynamic. They are the only way sellers can get on the MLS without paying 3 percent in commission to a listing agent.
Therefore, to know how to list on the MLS, you simply need to find a reputable flat fee MLS and list your property using their service.
3 Flat Fee MLS Michigan Homeowners Should Know About
Since more homeowners understand that having a listing agent isn’t necessary, FSBO sales have skyrocketed, but so have the Flat Fee MLS Michigan sellers can access. While there may be dozens of flat fee MLS companies in Michigan, there are only a handful that matter and add value to the transaction.
Since entering the scene, Houzeo has changed how real estate transactions are conducted. They’ve made it easier for homeowners to list their properties on the MLS, negotiate with buyers, and close deals.
When it comes to listing, Houzeo offers sellers a step-by-step guide detailing how to list on MLS. They give instructions on the documents you need to upload to get the process started. They also provide sellers with state and federal disclosures. After that, sellers can expect their homes to appear on the MLS within two days.
While your home is on the market, Houzeo makes it easy to schedule an open home, with their scheduling features.
But, possibly the most impressive is that Houzeo allows you to solicit offers – including the best and final offer – online.
Another notable feature is your ability to select the buyer agent commission. Houzeo has a selection from 0.25% commission to 4% commission. Although it’s advised to select a commission between 2.5% and 3.5%.
While Kermath Realty is a reputable flat fee MLS Michigan, they don’t provide as much value as Houzeo.
When it comes to listing your home, they provide some guidance on how to list it on the MLS; they’ll also have your home listed on the MLS within two business days after you’ve uploaded all outstanding documentation.
While your home is on the market, you can only schedule three open house postings, but you can keep track of these postings using the ShowingTime app and make it easy for a buyer’s agent to access the premises with the lockbox they provide.
When it’s time for closing, they provide state disclosures and addendums but not much assistance for the negotiations.
Modern Way Realty
Modern Way Realty has combined some of the best that full-service agents offer with the best that FSBO sales have to offer.
When you’re listing your home, they generate all the process online, give you detailed instructions on how to list on MLS, and allow you to upload up to 25 images. After uploading all the required documentation, your home will be on the MLS in 24 hours.
Once your home is on the MLS, you can schedule showings and accept offers online.
In closing, they also have the option to have an agent assist you with the process.
These reputable flat fee MLS Michigan sellers can access has changed the way FSBO sales work in the state and allow you to achieve a lucrative sale without any hassle.