If you own real estate, you have probably heard of the MLS. It’s a members-only website that is joined by real estate agents and brokers in the area. They have a local level, a state level and a national level. Joining this association designates the agent as a Realtor. They must pay to access this service.
Picking the Wrong Real Estate Agent
Reason #1 to avoid the MLS when selling your house in Detroit is picking the wrong agent. There are so many agents to choose from, how are you supposed to know exactly who to choose? Do you pick the person with the most ads or do you go with the lady your friend recommended?
Time On the Market
Reason #2 to avoid the MLS when selling your house is the time on the market. The MLS or multiple listing service, keeps track of how many days it’s been since you first listed it on the market. If your house ends up being on the market for more than 60 days, this is not a good sign to buyers. It may indicate that your property is not as desirable as other houses or that there might be something wrong with it. There may not be anything wrong with your property but this might stick in the back of the mind of potential buyers. Maybe you haven’t had a full price offer and are holding out. Whatever the reason, the time on market counter may work against you.
Highly Qualified Buyers
Reason #3 to avoid the MLS when selling your property is highly qualified buyers. Sure, the MLS may bring you buyers but many of them will have to depend on financing from a bank and some of them may not have even been pre-qualified yet. Your house for sale can be considered a pocket listing that will reach the desks of many highly qualified buyers, most of which can purchase 100% in cash.
Reason #4 to avoid the MLS when selling your house in Detroit is commission fees. When you list your house on the market, there are commission fees that are expected from the selling agent and the buying agent. This is usually 3% of the final sale price, which can add up to a large amount of money! If you are using an agent without using the MLS, you might be able to set a flat fee for less than traditional commission fees.
Invasion of Privacy
Reason #5 to avoid the MLS when selling your home is an invasion of privacy. If your house is listed on the MLS, you will be expected to make your house available for showings. This means living in a constant state of clean and organized 24/7 until you move out. You may also be asked to leave your home on extremely short notice for a showing if possible, sometimes immediately, although you usually can schedule showings for 24 hours in advance. Some sellers find it’s easier if they move out of the home when they put their house on the market because of the hassle of showings but would you want to be responsible for two house payments before you can guarantee the sale of your house?
Signs On The Front Lawn
Reason #6 to avoid the MLS when selling your house in Detroit is a sign in your yard. The yard sign is a standard part of a real estate agent’s advertising but this also may mean that you may have people knocking on your door unexpectedly because they saw the sign on your lawn. This is a huge inconvenience, especially because people may have stopped without an agent present and who knows if they are qualified buyers?