What is the cost to list my property on the MLS?
There is no cost to list a property on the MLS with Explicit Real Estate until the property sells; no sale, no fee. All services including advertising are free until the property sells. Once the property sells a commission is due, usually paid at the closing table and dispersed by the title company. For a total estimated cost
including taxes, title fees, commission and proceeds of your particular sale contact me here.
How the MLS (Multiple Listing System) works
Most, if not all MLS in the USA use a commission based system. The reason commission works is it's performance based. You would not want to pay a company to market your property for 6 months only to find out it did not sell. Sellers listing on the MLS choose a commission that's generally only due upon sale.
Only licensed realtors that are members of MAAR or SCAR can list property on the Brevard MLS. As Realtors we have required training, approved legal forms, rules, policies, and ethics that if not followed result in fines or loss of license; this keeps transactions as legal and fair as possible.
There are two sides to every MLS transaction, the buyers side and the sellers side.
As the seller you list the home and pay a commission to sell it on the MLS, usually around 6% of the sale price. 3% goes to the buyer's agent and 3% to the listing agent. There are about 3000 agents in Brevard County, they will all be trying to sell your home and collect the 3%.
The listing agent will be marketing your home all over the world and to the other 3000 agents, as well as trying to sell the home himself.
In a slow market like 2007-2010 nearly every property is sold from the MLS, by owner is futile; if you could sell a property by owner the price would be so low you would have made out better hiring a realtor anyway.
A survey in the hot market of 2005-2006 showed that sellers earned a average of 20% more by using a realtor. The thinking is many more buyers are shown the home thus resulting in a buyer that is willing to pay the most. Also the buyers working with Realtors are typically better informed and thus more comfortable about the buying process. For example, if you walked
into a court room to represent yourself in a case costing as much as a home purchase without knowing the courts forms, rules, ethics, policies, etc... you would be at a significant disadvantage, not to mention uncomfortable. Realtors are not lawyers but they can represent their clients in a similar fashion. They also buy and sell homes day in and day out so they know
the forms, rules, ethics, policies, etc... and can keep buyers or sellers on the right track.
When you list your home on the MLS it's like hiring 3000 professional Realtors working daily to sell your home. You'll have 3000+ Real Estate professionals in Brevard County working to find buyers and bringing those qualified buyers to your home at no cost to you, only the agent that actually sells the home to his buyer gets the 3%, what a great system! Consider that a sale takes
from 1-2 months in a good market and 6 months or more in a slow market and the commission cost starts to make more sense; consider how much you earn in 6 months? probably a lot more than the commission cost. Most realtors are not paid in any other means.
All FL Realtors are State Licensed Professionals, insured, finger printed by the state, accessing the home through electronic lock boxes that record and send their State ID #, name, phone, and company to me via email.
The Franchise Myth:
Contrary to popular belief Realtors do not work for franchises like Coldwell Banker, Re-max, or Century 21. Realtors are not a employees, they do not receive wages, and are not on the company payroll. In fact the Realtor pays the franchises just to use it's name and it's office space. Nearly all Realtors are on their own; you can get a great realtor
from a small company and a terrible realtor from a franchise and visa versa; there is no difference per company. The difference is in the Realtor themselves, their training, experience, loyalty, diligence, ingenuity, and ethics.
I've worked for Coldwell Banker, RE/MAX and Explicit Real Estate for several years. You will get no better Real Estate services than I can provide.