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Does selling your house yourself sound like a great idea? You can negotiate the deal and not have to pay people a commission. The Multiple Listing Service (MLS) is a great way to get your house out there, so using a service that lets you list on the MLS will take you a long way towards selling your house. You also want to create the most attractive listing possible, taking into consideration how you tell the story of your house and the photos you provide of your house.
Steps
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Know what the Multiple Listing Service system is. The Multiple Listing Service, or MLS, was created for brokers to share information on local listings in one place, making it easier for real estate agents to find what's available in the area. IDX Websites such as Zillow receive listing feeds from the MLS and publish the information for buyers and sellers to see. When selling a house, it is extremely important to have your listing distributed on your regions MLS, as it is the main source of information on properties for sale. [1] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source Therefore, if your home is not listed on an MLS system, your chances of selling your home are greatly reduced. In fact, the MLS listing is the reason that 80% of properties sell.
- The MLS is not one system. Rather, it is a number of databases across the country. Most of them are specific to a region or area, though a few are nationwide.
- This type of networking has a rich history, going back to the 19th century when brokers would meet in person to trade information on properties. [2] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source
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Pay a company to list for you. To list on an MLS market, you must be licensed as a real estate agent with the state. You must also join your local Realtor association, as a Realtor which extends your membership to the National Association of Realtors or a non-Realtor member. [3] X Research source That means that, as an average home owner, you cannot simply list your home on an MLS system.
- Traditionally, for sale by owner (FSBO) homes were not listed on MLS systems. [4] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source However, you can negotiate with a Realtor to have them list your home on the MLS for a flat fee. You will still need to pay the selling broker a commission that is separate from the listing fee.
- You may still pay a commission to the broker or a cooperating broker if he or she finds you a buyer. However, if you find your own buyer, you may not pay them a commission, depending on the terms of your contract. [5] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source If you want to avoid paying the commission, it must be written into your contract that you will not pay a commission if you find your own buyer. Be prepared to prove that you found your buyer without help from the Realtor, including their advertisements for the property. For example, if someone sees the Realtor's sign in your yard and asks you about the property, then the Realtor is still responsible for finding that buyer.
- If you prefer not to pay someone, you do have a few options. You can list your house for sale on websites such as Craigslist and Zillow. [6] X Research source You can also try advertising for free on a FSBO website, place an ad in your local paper and a "For Sale By Owner" sign in front of your house but your reach might be limited.
- Consider reading how to use a flat fee multiple listing service when selling by owner for more tips.
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Stay local. Your largest base of potential buyers is in your area. Of course, some people may be looking out of state, but they'll still be looking at local databases. For that reason, you must be listed in a local or regional MLS database. Picking a local company, or one that at least knows the area, will help guarantee your listing is put in the correct databases so that buyers can find you.
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Check out the packages. Most companies offer various package levels with different benefits. Some of the packages differ by how many places you list your house. Of course, the more places you list, the more likely you are to sell. Other packages differ by how long the house is listed. Some packages start at six months, while others go up to a year. [7] X Research source The price ranges can vary widely, so check around for the best deal.
- Advertising is usually one benefit you receive. You get the listing and other online advertisements. In addition, you also usually get yard signs and a lock-box for when Realtors want to show your house. [8] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source
- Later, you may want to purchase additional services. For instance, you may at first think you'll be able to handle the negotiations and the contract. However, if you find you can't, many brokerage services will provide additional help for an added fee. If you feel like you may want to add services later, make sure you can do that with the company you choose. [9] X Trustworthy Source United States Department of Justice Official website of the U.S. Department of Justice Go to source
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Pick a good heading. When buyers or Realtors are looking through listings, you only have a few pieces of information to draw them in, which usually includes the headline, a picture, and a price. Choose what makes your property unique, and include that in the title, such as its unique beauty or its unusual location. For instance, you could say, "Magical home in the heart of a historic neighborhood." [10] X Research source
- Try to make your listing stand out as much as possible. Your first goal is to get them to click on your listing for more information. [11] X Research source
- Try using capital letters, and leave your reader curious. For instance, you could say, "You WON'T BELIEVE what's behind this property." Just make sure your listing follows through with what you promise. [12] X Research source
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Tell a story. Your house is more than just a house. It has a story and a history. Use that to your advantage to help sell your house. Instead of just saying, "The house was built in 1910," say "This home is an historic 1910 bungalow filled with historic details, including original door handles and fixtures." [13] X Research source
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Play up the location. Most people want to move to a prime location. Of course, not everyone is looking for the same thing in location, so play up what makes your property great, whether you are in a great school system, close to a park, in the heart of downtown, or near great shopping or restaurants. Add the information into the listing, such as "Within walking distances of beautiful hiking trails" or "five minutes away from a variety of great, local cuisine and fabulous shopping." [14] X Research source
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Remember to include all the relevant details. Your buyer or Realtor will want to know the square footage of the house, the size of the land, and the number of bedrooms and bathrooms. She'll also want to know about any extra rooms such as an office or two living rooms, renovations such as a new kitchen, bonuses such as garages, pools, and decks, the location, and any beautiful views you have from the house. The year the house was built is also important. [15] X Research source
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Skip the pricing gimmicks. You've seen the trick, even in local grocery ads. Your favorite cereal is listed at $2.99 rather than $3. It's a visual trick that has been proven to work, yet it can lose you potential buyers online. [16] X Research source
- The reason is the way buyers search for properties; they use price ranges. So if a home is listed at $99,999, buyers who search from zero to a $100,000 will see it. [17] X Research source
- However, if a buyer searches from $100,000 to $200,000, he won't see your property. Listing it at $100,000 means both sets of buyers will see it. [18] X Research source
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Don't oversell. You want to sell your house, but if you present your house as more than it is, you are just going to make people angry. Be truthful, and you'll get people to look at it and actually buy it. [19] X Research source
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Focus on the photos. Clear, beautiful photos are a must if you want to sell someone on your house. With most listings, you get 25 photos. You may not use all of them, but you want each photo to be engaging and beautiful. Clean up your house first. Make sure everything is in its place. If you have already moved out, try a staging company. A staging company will bring in furniture for a fee so that potential customers can envision what it will look like. [20] X Research source
- Usually your Realtor will take the photos of your home, but you can supply your own photos if you'd prefer. Contact your Realtor to ask the best way to provide the photos to them, such as through email or a shared drive.
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Hold the camera steady. You want the clearest shots you can get. Using a tripod is ideal. However, most people don't have a tripod just hanging around the house. If you don't, try using walls and furniture to help steady yourself as you take a picture. It can also help to put the camera on a two second delay so that you're not moving the camera once the picture takes; even the action of pushing the button can move the camera around.
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Take at least one curb shot. You'll want at least one clear one from the curb with a wide angle lens. Pick a sunny, clear day, and make sure you get all of the house. Also, take at least one shot of the backyard. [21] X Research source
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Open up the curtains to let in the light. Natural light will make for better photographs. If you can't get enough light, use a camera with a good flash. If you can't get good shots, try adjusting the photos' brightness and color saturation after you take them. [22] X Research source
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Show photos of each room from different angles. If possible, take each room from two angles. It's best to take the photos during the day when you have plenty of natural light. However, you can skip the less appealing rooms if you think they'll turn away potential buyers, such as an ugly utility room. Stick to what will get someone in the house to see it. [23] X Research source
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Show as much of the room as possible. Stand as far back as possible to get the shot. Use a wide angle lens inside, too. You want each picture to show as much as your house as possible. In each shot, place what is best about the room in the center.
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Take more shots of selling points. If you have a stellar kitchen, include multiple shots. If your living room fireplace is a masterpiece, be sure to include it in a shot. If you have a spectacular view out of your master bedroom, add a shot. Show your potential buyers what you love about your house and what they should love about it, too.
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Expert Q&A
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QuestionCan a realtor sell their own home for sale by owner?Carla Toebe is a licensed Real Estate Broker in Richland, Washington. She has been an active real estate broker since 2005, and founded the real estate agency CT Realty LLC in 2013. She graduated from Washington State University with a BA in Business Administration and Management Information Systems.A Realtor must check with their brokerage policies and state policies. Generally, if a Realtor lists the property on the open market, the real estate brokerage must be advertised in the listing but state law may not require this or the brokerage may not require this if it is their own. The policies must be checked to be in compliance. A Realtor can make the independent contract with the brokerage so that no commission needs to be paid to the brokerage if they accept this stipulation.
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QuestionHow do I claim a listing on Zillow as an agent?Carla Toebe is a licensed Real Estate Broker in Richland, Washington. She has been an active real estate broker since 2005, and founded the real estate agency CT Realty LLC in 2013. She graduated from Washington State University with a BA in Business Administration and Management Information Systems.Search for the property on Zillow. The listing will ask if you are the agent and there should be a button that allows you to claim it as your listing. Zillow will already know who the agent is from the MLS feed and your name needs to match theirs.
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QuestionAre there closing costs when you sell a home for sale by owner?Carla Toebe is a licensed Real Estate Broker in Richland, Washington. She has been an active real estate broker since 2005, and founded the real estate agency CT Realty LLC in 2013. She graduated from Washington State University with a BA in Business Administration and Management Information Systems.As the owner, you must pay the excise tax, title and escrow fees, and any unpaid taxes during your ownership. A seller can request that the buyer pay the fees in the contract but these are typical seller costs even if you don't use a Realtor.
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Tips
- You cannot list your property on the MLS yourself. You will need assistance from a Realtor to list it.Thanks
- Once your property is listed, ask the Realtor to provide you a copy of the listing. Check it over to make sure it is accurate and includes all of the information and photos that you wanted included.Thanks
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References
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://www.realtor.org/realtororg.nsf/pages/AboutREALTORS
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://www.zillow.com/for-sale-by-owner/
- ↑ https://mlsmyhome.com/
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://www.justice.gov/atr/public/reports/223094.htm
- ↑ http://retipster.com/howtowriterealestateads/
- ↑ http://retipster.com/howtowriterealestateads/
- ↑ http://retipster.com/howtowriterealestateads/
- ↑ http://www.isoldmyhouse.com/fsbo/mls-listings.cfm
- ↑ http://www.isoldmyhouse.com/fsbo/mls-listings.cfm
- ↑ http://retipster.com/howtowriterealestateads/
- ↑ http://www.inman.com/next/dont-sabotage-your-mls-listing-3-digital-mistakes-you-can-correct-today/
- ↑ http://www.inman.com/next/dont-sabotage-your-mls-listing-3-digital-mistakes-you-can-correct-today/
- ↑ http://www.inman.com/next/dont-sabotage-your-mls-listing-3-digital-mistakes-you-can-correct-today/
- ↑ http://retipster.com/howtowriterealestateads/
- ↑ http://www.isoldmyhouse.com/fsbo/mls-listings.cfm
- ↑ http://www.isoldmyhouse.com/fsbo/mls-listings.cfm
- ↑ http://www.isoldmyhouse.com/fsbo/mls-listings.cfm
- ↑ http://www.inman.com/next/dont-sabotage-your-mls-listing-3-digital-mistakes-you-can-correct-today/
About This Article
Article Summary
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If you’re not a licensed realtor but want to list your home on the MLS, try negotiating with a realtor to have them list your home for a flat fee. Then, create a listing for your home that has a catchy heading, like “Magical home near the waterfront,” and highlights its proximity to things like parks and restaurants. Additionally, include details on the things that make your home stand out, such as a new kitchen or a pool. You should also consider pricing your home at a round number, like $100,000, so buyers searching for homes above and below that price will see it. For more tips from our Real Estate reviewer, like how to choose the most engaging photos for your MLS listing, read on!
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