It’s not easy to make money and it’s only too easy to spend it or lose it. So if you see an opportunity to save thousands of pounds on a house sale by cutting out real estate commission fees, you might be tempted to go for it. Before you do though, remember the amount of work that’s required for a house sale. That doesn’t even include the risk of losing out on price, legal fees and any other surprises that a Realtor Vancouver professional could save you from. However, having balanced everything, you might of course still decide to go ahead and sell on your own. In that case, it’s good to know that you can list your house on the MLS without a realtor in Canada. Let’s see how.
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What is MLS?
For those of you not in the know, the MLS is the Multiple Listing Service system. This can be accessed by any real estate professional for details about properties for sale. It’s basically a database that allows real estate agents and Realtor Vancouver professionals to view opportunities for their potential buyers. Being in this database when you’re an individual doing a ‘For Sale By Owner’, or FSBO, is very important to give your property maximum exposure. Promotion is one of the most important aspects of selling a home, along with the right asking price.
In Canada, you might hear the term ‘Mere Posting’ or ‘Mere Listing’. This means that the property is listed on the real estate broker’s system without the broker providing any services to the owner. You only pay a flat fee, with no commission, for them to manage your online entry into the database.
How do you get your property onto the MLS?
You still have to find a real estate firm in your local area or online to physically enter your property into the system. There are several ways to find a firm. For example, you can access a list of MLS without a realtor in Vancouver professionals by clicking “Connect with Realtors” on the Canadian Real Estate Association website. The tool allows you to search by location and area so you can connect with people within just a few clicks. You can also search online for other real estate brokerage firms.
Once your property is in the database, usually within 24 hours, you can wait for potential buyers or their agents to contact you. Remember that if you want a Realtor Vancouver professional to organise an Open House day for you then you’ll have to pay commission. The MLS fee is only for uploading and amending your entry into the MLS system.
Advantages 0f not using a Realtor Vancouver Professional
- Save commission, which is usually around 6%
- Potentially access quick options such as ibuyer platforms
Selling a house is a huge project to undertake. Of course you can save commission fees and stay in control of the whole process if you wish. The Mere Listing approach is a great way to get exposure. Moreover, if your property is in a sought after area then there’s a chance it might get sold quickly. There are also other online options. For example, you can find platforms such as buyers or ‘instant buyer’ where companies buy homes directly from the owners to resell them on. This could be an advantage if you have timing and money issues.
Disadvantages of not using a Realtor Vancouver Professional
- Greater workload and extra costs
- Potential risk management issues
Unfortunately, selling a home on your own comes with a great risk. Of the 36% who follow the FSBO option, only 11% actually close the sale. This is according to a consumer housing trends report by the Zillow Group. Not only is there a huge workload, but there are also various costs that add up. These include inspections, staging and legal surprises that a Realtor Vancouver professional can help you reduce and manage more effectively.
Another great advantage of using a Realtor Vancouver professional is that they’ll work out a good strategy for you. From this, they can determine the right price for your property based on today’s market. They know the current trends and market state and therefore they’ll be a good guide for you. It’s very difficult to get this right if you don’t have years of experience and industry knowledge. The risk is that your property could end up sitting in the MLS system for too long and therefore naturally devalue itself. MLS Without A Realtor Vancouver professional would help you avoid that. In addition, they’ll be able to preempt any legal, structural or authorization issues that could come up during the whole process.
Concluding Thoughts on Listing your House without a Realtor Vancouver Professional
You might still go ahead with an FSBO sale after having weighed up all the possible advantages and disadvantages. If that’s the case, yes, it’s easy to do a Mere Posting and get your property into the MLS system. You can then of course do your own promotion on top of that. Perhaps you could include both social media and local letterbox drops. If you have a great property in a top area then this is perfectly do-able. However, don’t forget that commissions exist for a reason. You’re paying not just for market knowledge but also for legal know-how and connections. Finally, MLS Without A Realtor Vancouver professional, you have a partner who can work with you to get the best possible deal for you. Of course commissions might seem high, but they’ll also make sure you’re happy with your final take-home amount regardless.