If you want to sell your home, you might want to put it up through a reliable MLS or multiple listing service. Having your home for sale up in an MLS allows real estate professionals to see what you offer. This is a great springboard for you to be able to find your prospective buyers.
Basically, MLS is a collective database that can be accessed by real estate brokers who have shared listing agreements with one another. This way, you aren’t just relying on the skills and resources of one broker to find buyers for your home, but of an entire team. These brokers earn by commission, depending on the sale of properties they sold or helped sell.
While some properties bought and sold through MLS are listed by a broker who is representing the seller, some listed properties can be unrepresented; these are called “for sale by owner” or FSBO. The sellers of these properties circumvent the usual MLS restrictions by paying a flat fee to a broker for having the house listed without representation.
The main benefits of MLS are essentially the same for both the seller and the buyer: access. The seller gets to place his home more efficiently in the market, with multiple brokers serving as channels to prospective buyers. The buyers on the other hand, can see a comprehensive list of homes with helpful data and photos to help them make their choice.