If you own real estate, you have probably heard of the MLS. It is a members-only website that is joined by real estate agents in the area. 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 and then they can place homes for sale on this MLS website.
Picking the Wrong Agent
Reason #6 to avoid the MLS when selling your San Antonio 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 knows? Or just someone who has a house listed for sale in the neighborhood?
There are thousands of real estate agents out there. There are both good and bad agents. Picking the wrong agent can lead you down the path of pricing your house too high, having a mismanaged listing, and your sales process taking way too long.
Time On the Market
Reason #5 to avoid the MLS when selling your San Antonio house is the time on the market. The MLS, or multiple listing service, keeps track of how many days it’s been since you first listed it on the market. If your house ends up being on the market for more than 60 days, this is not a good sign for buyers. It may indicate that your house is not as desirable as other properties, or that there might be something wrong with it.
There may not be anything wrong with your property, but this can stick in the back of the mind of potential buyers. Maybe you haven’t had a full-price offer and you are holding out. Whatever the reason, the time on the market counter may work against you. If you are not in a situation where you can wait around, selling direct may be a lot better than listing on the MLS.
Highly Qualified Buyers
Reason #4 to avoid the MLS when selling your San Antonio house is highly qualified buyers. Sure, the MLS may bring you buyers, but a large portion (or all) of them will have to depend on financing from a bank, and some of them may not have even been pre-qualified yet.
Most buyers from the MLS will require a bank loan, a bank appraisal, and an inspection. All these things can slow down or put a stop to a potential sale.
Reason #3 to avoid the MLS when selling your San Antonio 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 3% 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, but many agents are not willing to do this. They will want both a 3% fee for the buyer’s agent and a 3% fee for the seller’s agent.
Invasion of Privacy
Reason #2 to avoid the MLS when selling your San Antonio 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 living in a constant state of clean and organized 24/7 until you move out.
You may also be asked to leave your home on extremely short notice for a showing if possible, sometimes immediately, although you usually can schedule showings for 24 hours in advance. 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?
Signs In The Yard
Reason #1 to avoid the MLS when selling your San Antonio house is a sign in your yard. The yard sign is a standard part of a real estate agent 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. This is a huge inconvenience, especially because people may have stopped without an agent present, and who knows if they are qualified buyers? And many of your nosey neighbors will want to come by asking questions and all putting in their two cents about what you are doing.
It is often a great idea to compare selling on the MLS vs. having a direct sale.