If you own real estate, you’ve no doubt heard of the Multiple Lister Service, also called the MLS. It is a private marketplace for members-only where properties are listed and information about the market is maintained. They have a local level, a state level, and a national level. Joining this association designates the agent as a Realtor. They must pay to access this service.
Picking the Wrong Agent
The first reason to avoid the MLS when selling your Kansas City house is picking the wrong agent. There are so many agents to choose from, how are you supposed to know who to choose? Do you pick the person with the most ads? Or do you go with the guy your friend recommended, he just sold a house last week?
Time On the Market
The next reason to avoid the MLS when selling your Kansas City house is the time on the market. The MLS tracks how many days your house has been on the market. The longer your house sits on the market, especially over 60 days, the worse your home appears to potential buyers. Especially in a hot market, properties that don’t sell indicate that something is wrong with them or at least that they aren’t worth the listing price. Maybe you haven’t had a full price offer and are holding out which makes buyers think that you aren’t very flexible. Whatever the reason, the time on the market counter may work against you.
Highly Qualified Buyers
Reason number 3 to avoid the MLS when selling your Kansas City house is highly qualified buyers. Sure, the MLS may bring you buyers, but a large portion of them will have to depend on financing from a bank, and some of them may not have even been pre-qualified yet. The MLS is most often used for normal residential buyers, most of whom need to use bank financing to purchase the home. Selling outside of the MLS can get you exposure to a bunch of cash buyers directly, many of whom can purchase 100% with cash.
The fourth reason to avoid the MLS when selling your Kansas City house is commission fees. When you list your house on the market, there are commission fees that are expected from the selling agent and the buying agent. This is usually 6% of the final sale price, which can add up to a large amount of money! If you are using an agent without using the MLS, you might be able to set a flat fee for less than traditional commission fees.
Invasion of Privacy
Reason number 5 to avoid the MLS when selling your Kansas City house is an invasion of privacy. If your house is listed on the MLS, you will be expected to make your house available for showings. This means that you have to keep your house extremely clean and be ready to leave at a moment’s notice. Some sellers find it’s easier if they move out of the home when they put their house on the market because of the hassle of showings, but would you want to be responsible for 2 house payments before you can guarantee the sale of your house? Selling to a cash buyer means only a few planned inspections at most before closing on your property.
Signs In The Yard
The last reason to avoid the MLS when selling your Kansas City house is a sign in your yard. The yard sign is a standard part of a real estate agents advertising your house, but this also may mean that you may have people knocking on your door unexpectedly because they saw the sign in your yard. Putting a sign in the yard is a traditional way to attract buyers to the home. But this results in having random strangers knocking on your door at random times looking to check out the house. This is a huge inconvenience, especially because people may have stopped without an agent present, and who knows if they are qualified buyers?