The Importance of listing your home on the MLS

We have heard rumors lately of some homes selling outside of the MLS.  This seems like it might be easier if we want to sell our home.  How would you advise us? 

When inventory is very tight as it is currently, there are desperate buyers out there and many of them are bold enough to approach prospective sellers directly.  There are also occasions of homes selling with agents but in a “pre-MLS” sale situation.  As convenient as it may sound to sell your home in one of these scenarios, before you do so, it is imperative that you weigh whether your privacy and/or convenience is worth the tens of thousands (or sometimes hundreds of thousands) of dollars that you will leave on the table by making that choice.

The MLS is your most powerful tool for bringing the most money and the most favorable contract terms to your doorstep. If it is so easy to sell your home that it can be done with a single buyer approaching you and viewing your home, or an agent bringing in a buyer or two, then It is a near certainty that if you exposed it to the greater market, you would receive a much higher price.  When an agreement of sale is generated outside the MLS with such minimal effort, it is generally for one of two reasons. The first is that you significantly underpriced the property and the buyer knows it is a steal.  Even if you consulted with an agent in setting the price, market values fluctuate so quickly that the agent may not have been fully appreciating how the market would value your home.  Secondly, the market may be so starved for inventory in your price range that there may be a tremendous number of buyers seeking a home like yours, and one lucky one got there first with no competition.  Both of these scenarios benefit only one party to the transaction – the buyer.

If your net gain is a priority, don’t be fooled by promises of a quick sale.  Use the power of the MLS and pocket the highest possible profit for your home. Even when you are paying a Realtor, the profit you will net is most certainly higher than going it alone.  Reach out to me and we can discuss strategies for maximizing the value the market will yield for your home!