The Multiple Listing Service (MLS) that underpin so much of residential American real estate can be a highly effective asset when selling your home.
While many owners like to investigate the possibility of an off-market strategy – and there are good reasons to do so – you really can't beat an MLS listing for exposure to real estate agents buying on behalf of their clients.
Agents share their MLS listings with other agents, their own clients and real estate sites like Zillow, Realtor.com and Redfin.
From a general buyer perspective, a listing on an aggregator platform will give you visibility among hundreds of other homes in your area.
Agents, however, use MLS as a genuine research tool for buying and selling.
And, of course, when it's your turn to buy on the other side of the transaction, your agent will use an MLS to quickly identify properties in your target neighborhoods.
That's important because if you are buying after you've sold, the clock will be ticking towards settlement. Naturally, you're going to want an agent who not only finds the best properties to consider, but does it quickly and efficiently.
A couple of years ago, Bright MLS conducted research that claimed homes sell for 17.5% more on an MLS than via private listings, or so-called “pocket-listings”.
It also said 63% of properties that started as a private listing sold after being listed on the MLS.
So, as you consider appointing your agent and adopting a strategy to maximize the value of your home, make sure an MLS listing is in the mix of your thinking. And of course, I'd be happy to assist you.
Here are seven tips for selling successfully.
Maximize exposure – Whichever way you cut it, you want to reach the people who are going to make a deal happen. You can go fishing where the fish swim, but you want to be where the fish bite. That's why an MLS listing makes sense.
Find a great agent – Expertise on local market conditions is critical, especially at this moment in the economic cycle. You want a good communicator who can guide you on how to prepare your home, and what you need to do to maximize your chances of an excellent outcome.
Summer bounce – Traditionally, summer is a great time of year to sell. The warm weather makes folks feel good and they're usually prepared to invest more time in a property search.
Feature focus – With your agent, decide on the features you're going to amplify to find the right type of buyer. Are you going for the family buyer, or the young couples market? Whichever segment you choose, tailor your marketing to hit their hot buttons.
First impressions – Like going on a date, first impressions are everything. Make sure your home looks fabulous from the street and as buyers walk through the gate and towards the front door. Mow the lawn, trim the edges and zap the weeds. Fix any cracks or loose pavers.
Invest in photography – Image is everything, especially when you're using digital platforms to sell. Ask your agent to show you examples of work from their preferred photographer. Also consider 3D video tours for those who live far away or are time-restricted.
Price is key – It's a tough assignment to price your home right now. That's because so much seems to be going on with our economy. You need an experienced agent to guide you successfully. Don't overshoot market expectations, or your property will languish for months.
