An MLS only entry generally refers to a For Sale by Owner (LIMITED SERVICES) listing in which a Real Estate Broker places a listing onto the local MLS (multiple listing service) for a fee. Once placed on the MLS, the For Sale By owner seller handles all matters of the sale – from calls to showings to closings.
The MLS and the access to it is a valuable and cost saving tool for those choosing to sell For Sale by Owner. The properties listed on the MLS are seen by all the local Realtors for that MLS board who are looking for properties for their clients.
There are many companies across the United States that are either marketing companies that connect sellers with brokers to offer this MLS only service, or direct real estate Brokers who offer this service. Make sure the company you are signing up with lets you know which one they are. Both can be solid options for getting your home listed, but you will want to know who to communicate with once you sign up.
What do you typically get when you use the MLS ONLY (LIMITED) service from a real estate Broker?
- Listing on the multiple listing service
- Packages will vary from company to company
- Your contact information in the listing to be contacted directly
- The Brokers info will ALWAYS be in the listing since it is the only way to be placed on the MLS – they are not doing this to hijack your listing or buyer calls
- Marketing on 3rd party sites like Zillow, Realtor and others.
- Sites will vary depending on the MLS board and region
- Showing Time or similar app.
- This app is used to schedule and maintain showings on your home
- Changes to the MLS
- Open House
As a For Sale by Owner on the MLS, you will not have the same control as a full-service Realtor. 3rd party websites pull information from the MLS and your information may not pull with it. Realtors do not use Zillow and other 3rd party websites and cannot control them directly – they are updated and changed through the MLS. Even sites like REALTOR.com sound like they should be controlled by the listing company, but they too pull from the MLS.
MLS only listings typically do not get:
- Someone to review and negotiate offers
- Handle the process once under contract to get to closing
- Review inspections and appraisals
- Review closing docs
Some of the MLS only companies will offer Al a Carte services for those needing a little more help during the sale. Pricing will vary depending on the company.
If you have a question about buying or selling your home, please reach out to Joseph Walter Realty at 248-294-7849 or via email at email@example.com
Scott Fader and Gary Brincat
Joseph Walter Realty
Joseph Walter Realty is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.