Author Topic: MLS questions  (Read 2040 times)

Cwadda

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MLS questions
« on: August 06, 2014, 07:36:33 AM »
Hello Mustachians,

Just had some questions for the experienced about the MLS.

1. How do I list something on the MLS?
2. How much does it cost to do so?
3. How long will it take to be published?

Thanks!

Another Reader

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Re: MLS questions
« Reply #1 on: August 06, 2014, 08:18:54 AM »
MLS systems are usually coops or corporations owned by the local association of realtors.  Only a member broker can post on the MLS.  If you want to handle the transaction yourself, often you can find a limited service broker that will list the property for a few hundred dollars.

Once you have a contract with a broker to list the property, it should take less than a day to get the listing input.

escolegrove

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Re: MLS questions
« Reply #2 on: August 06, 2014, 04:08:59 PM »
In my experience either brokers or realtors. In that case it's 6% commission. Some areas have. No fee listening service but I have no experience with that!

Fishingmn

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Re: MLS questions
« Reply #3 on: August 07, 2014, 05:44:08 AM »
MLS systems are usually coops or corporations owned by the local association of realtors.  Only a member broker can post on the MLS.  If you want to handle the transaction yourself, often you can find a limited service broker that will list the property for a few hundred dollars.

Once you have a contract with a broker to list the property, it should take less than a day to get the listing input.

This is correct.

And there's no universal 6% commission. A limited service broker will charge a fee based on the level of services and probably suggest paying a buyer's agent commission. Probably in the 3-4% range overall.

Many full service Realtors charge 6% but that's not universal at all. I normally charge 4.7-5.5% so there are plenty of full service options charging less than 6.

Cwadda

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Re: MLS questions
« Reply #4 on: August 07, 2014, 05:57:00 AM »
Thanks for the info people.

So this is something that cannot be done on our own? We must consult a limited service broker?

Weedy Acres

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Re: MLS questions
« Reply #5 on: August 07, 2014, 07:23:13 AM »
Google "flat fee MLS" to find someone that will put it in the MLS for $300-500.  To do this, you have to agree to pay a commission to a buyers agent, but at least you can keep half the normal commission.  Note that not all areas have brokers that will list flat fee. 

If there's no FF MLS in your area, an out of town FF company can get you on realtor.com for $99.  And you can list on zillow for free.