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Old 01-13-2010, 12:27 PM
 
Location: Mount Vernon, WA
35 posts, read 85,847 times
Reputation: 26

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With the economy situation, I have decided to sell my rental property on my own (in Washington state, Island county). I've done some reading and feel comfortable doing it myself. However, I need some directions regarding listing my house in the MLS database. I understand there are websites that offer to list the house in the MLS database for a flat fee. Any catch I need to be aware of? Some websites offer different packages, e.g., MLS listing plus consultation, forms, etc. I'm inclined to go with the full meal deal since this is the first time I'm selling on my own. Also, has anybody have any opinions regarding all the various websites offering the MLS listing service? There are so many sites to choose from and I just want to make sure my money is well spent.

Any input is appreciated.
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Old 01-13-2010, 01:40 PM
 
89 posts, read 244,517 times
Reputation: 23
We used fsbo.com about 7 years ago. They gave us some signs for our front yard and some space online. That was about it. We paid for advertising in the newspaper and colored flyers for the front of the house.

For what it's worth, I would never go that route again. It took a really long time for our house to sell. We hardly had anyone come view it. Most people were just nosy and curious. It was a huge waste of time and money. It took us 9 months to sell the house. The only reason it sold was because a friend of a friend knew someone who was moving to the area.

Our current neighbors have had their house FSBO for over 4 years! The house was for sale when we looked at houses in January 2006, and I don't know how long it had already been listed. Seriously...4 years. It is a really nice house too.

Anyway, that's off subject. We used fsbo. It was ok. Even if we had purchased MLS listing, a lot of agents don't want to show your home. You need to go ahead and decide what you are willing to pay a buyer's agent. We had numerous agents who were willing to show our home, but we had to agree to pay them a fee. So if we would have sold it to those buyers, we would have been no better off than if we had just listed with an agent to begin with.

Wow...I sound really bitter. Sorry. I am usually an upbeat, postive person, but selling our house was an awful experience. We've had much better luck selling houses with realtors.

Good luck!!!!
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Old 01-13-2010, 01:49 PM
 
Location: Barrington
60,651 posts, read 41,598,422 times
Reputation: 19561
I would ask about how many of their local listings closed in 2009 while under the flat fee contract and then ask them to prove it.
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Old 01-13-2010, 01:51 PM
 
Location: Central Texas
20,859 posts, read 41,427,192 times
Reputation: 24484
Make sure that whatever agency you list with that just puts it on the MLS puts it on the MLS in your area - I've heard some horror stories about the listing being on the MLS in the next town, etc.

Do offer a fee to the buyer's agent. If you don't, the buyer will have to pay it, and since with most homes that are listed with an agent, that listing agent offers a portion of the commission that they are getting to the buyer's agent so the buyer doesn't have to pay their agent directly, that is something that a buyer, not the agent, will take into account when deciding what houses to look at. Just figure it into the price that you're asking for the house.

Make sure that you have good SOLD comps when deciding what to ask for your home. What other people are asking are not true comps, not until they've sold and closed.

Make sure that whatever agency you choose to put your listing on the MLS (and in most cases, it IS listed, just a limited service listing, otherwise it couldn't be on the MLS) puts as many photos as possible on the MLS. Good photos, too - I'd hire a professional photographer to take them if I were you, if the company you go with doesn't do that.
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Old 01-13-2010, 03:03 PM
 
Location: Salem, OR
15,029 posts, read 37,056,249 times
Reputation: 15681
THL the state of Washington has an MLS that covers the whole state. Only cities on the borders of states like Vancouver, WA tend to post in the NWMLS and the RMLS (which is Portland, OR)
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Old 01-13-2010, 03:04 PM
 
Location: Central Texas
20,859 posts, read 41,427,192 times
Reputation: 24484
Well, that certainly makes life easier!
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Old 01-13-2010, 03:30 PM
 
Location: Salem, OR
15,029 posts, read 37,056,249 times
Reputation: 15681
Quote:
Originally Posted by TexasHorseLady View Post
Well, that certainly makes life easier!

They merged the whole state like 5-6 years ago. It does make things a lot easier.
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Old 01-13-2010, 05:23 PM
 
Location: Lead/Deadwood, SD
948 posts, read 2,602,545 times
Reputation: 855
Research it as if you were a buyer not just a seller then you will get a better feel for what matters most.
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Old 01-13-2010, 05:32 PM
 
Location: Columbia, SC
10,286 posts, read 20,062,350 times
Reputation: 9129
Quote:
Originally Posted by Silverfall View Post
THL the state of Washington has an MLS that covers the whole state. Only cities on the borders of states like Vancouver, WA tend to post in the NWMLS and the RMLS (which is Portland, OR)
Wow. That's pretty interesting.

OP, you'll probably be in some sort of limited representation arena to get on MLS so if that is the case find out what they do/don't do for the price. Best of luck selling.
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Old 01-13-2010, 07:52 PM
 
Location: Cranford NJ
1,049 posts, read 3,801,873 times
Reputation: 403
In NJ we have IDX ( Internet Data Exchange) this allows your listing to be autopopulated to all the other websites and websites of individual agents, including associates of other Brokers. I do not believe you will get this with a limited service broker. Without IDX you are missing a MAJOR marketing component. These limited service (FSBO) brokers do not work on commission, they charge a flat fee, therefore they have no interest if your home sells or not. Basically, a rip off. JMO
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