Anna,

Just to add, while I agree with Keith, I do not know if he belongs to your area MLS. The numbers may be different for those listing and selling their homes. There are at least 10 MLS's in southeastern Michigan.

I suggest interviewing at least 3 agents and asking them about where your home will be marketed using each of the Listing Types described. (don't forget to make them prove your home will actually be on those sites after Listing)

If Full Service is not for you because you have marketing, negotiating, and contract experience then there are, other alternatives. I would make sure you read the fine print very carefully. Some companies offer to list your home for a non-refundable fee but require you to use their Title Company and other related services at a marked up price.

I suggest you shop around before signing any paperwork. The hot summer selling season is almost done, so you have time. I have a 50 page booklet "Who's the Best Person to Sell My House" and would be glad to send you a copy. The booklet walks you through 29 things to watch for when selling your home and provides a check list to use when choosing a Realtor(R). No obligation

I agree Keith...great data and well put.

In southeast Michigan, you must be a Realtor, put your license with a Broker, belong to the National Association of Realtors, a local board of Realtors and subscribe to the MLS to put listings on the MLS. All this, after you have completed the state mandated training to become a Realtor or Broker. My suggestion for you, as it appears as though you are interested in selling your home, is to contact a full-service Realtor to professionally market your property. Your home will be on the MLS, advertised on many other websites, available for all the other Realtors in the area (who are on average working with 5 or so pre-qualified buyers under contract) and will provide you with the most exposure possible. Price and exposure are what sells houses. Your agent will provide you with a full CMA, lockbox, professional yard sign, (the advertising I mentioned), set all the appointments for showings ensuring that only licensed Realtors come into your home (safety is paramount-you don't want just anyone in your house), pre-qualify prospects, negotiate a solid contract protecting your best interests and getting you the most amount of money for your home, ensure the home inspection process is done properly as well as the appraisal, take care of ordering title work, etc., and coordinating a closing for you and the buyer. If you are an expert in sales and know how to "close" someone (get them to commit), then of course, as others suggest, you can pay someone to simply put your house on the MLS and assume all the responsibility on your own for creating a successful transaction. You can have strangers in your house that you don't know if they are even qualified to purchase as well as assume the risk of having strangers in your house, etc. You can pay for your own advertising, only to be able to market to a limited crowd. You can screen the prospects. You can be available 24 hours to answer questions, and be available at any time to show your house yourself to prospects-safety issue. You can take care of all the behind the scenes stuff and hope for the best. You can try to get people to ignore the common mentality "discount Broker equals discount house" and hope to get a good offer. I'd suggest having someone out there working for you. It may cost you a little bit, but you'll sell faster and for more money. Bu-the-way, I love the Lapeer area-if it was my area of expertise, I'd love to help you out. Best of luck

Keith,that was a great answer!

Anna
Thank you for asking such a great question.
You have a couple of options we when you sell your home:
1. Sell it without professional representation (common referred to as "for sale by owner" or FSBO.
2. List it on the MLS with an MLS Entry Only broker. They typically charge a flat fee, then offer optional fees for other services. Because the listing is in the MLS you offer a commission to the buyer's agent (often termed SOC or selling office commission...confusing but that's the way it is)

The amount you are saving is the difference between the listing agent commission (usually the same as the commission offered to the buyer's agent, less the expenses paid to the MLS Entry Only broker and other marketing expenses.

3. You list it with a "limited service broker". Similar to a MLS Entry Only broker, "Limited Service" means that they offer more services than MLS Entry Only, offering a menu of services.

4. List it with a "Full Service" Broker. Typically they pay all marketing costs and provide all services needed at no additional charge.

Which way is best for you?

That depends.

I study my market constantly and can provide you with some insights:
Because you asked about MLS entry, I am assuming that you see the value to being in the MLS. Why? Because your listing would be noticed by Realtors, right? You are correct.

Each quarter I research the performance of the three types of brokers mentioned. These are the results of the last quarter (April to June).
Out of 1,166 listings sold, 10 were sold by either MLS Entry Only or Limited Service brokers.
This poses a challenge because with such a small market share listings get lost in the shuffle.

Of a larger concern is that listings fail to sell over 33% more often. So just because you list your home doesn't mean it will sell. We call those "expired listings". Out of 35 listings, 25 did not sell. For full service, out of 2,339, only 1,183 did not sell. A ratio of 102% to 250.

The other big problem is that when listings do sell, they sell for less. On average, listings sold by MLS Entry Only and Limited service brokers sell for 2% less than those sold by Full Service Brokers. (sold price compared to asking price within 30 days on the market)

The last big problem is timing. Listings sold by Limited Service and MLS Entry Only brokers take longer to sell, on average 25 days longer.

So based on my data, if you don't really need to sell, have time to kill, and money to burn , then you are set. OTOH, if you need to sell for top dollar, then you the only way to accomplish that is to use a Full Service Realtor.

My suggestion is for you to interview three Realtors, run the numbers and then you make the call.

Our company offers a flexible commission plan we call our Menu of Services. For a low commission rate,we will get you on the MLS & put up a sign. All other activities & costs would be your responsibility. Not only do licensed agents have to adhere to very strict rules with the MLS,we have to pay a substantial subscription fee each year for the service. We are a major international company,not one of these MLS only agencies,but we do offer this. keep in mond,though,in real estate as with so many other things--you get what you pay for.

Hello Anna. Listing can only be done with a real estate brokerage and once the home is listed, the broker will put it in the MLS as the MLS is for licensed real estate professionals only. As the others have already mentioned, if the sole purpose of your listing is to get your property advertised through the MLS, then you can list with a flat fee real estate brokerage. What that means is that you pay the listing brokerage a flat fee to put your house in the MLS and that's pretty much the only service you get. They will not represent you in a transaction with a buyer. If you want them to represent you, you have to pay extra (how much depends on the brokerage). The other very important thing you have to keep in mind is that you cannot get your house in the MLS without offering a commission to the agent who'll bring you a buyer as the MLS rules make paying a commission to the buyer's agent a condition of putting the property in the MLS. There's no set commission that you have to offer, but if you offer too little, you will most likely attract less showings. I hope this helps.

No but you can list with a broker who is a fee for service. You take the risk by paying them upfront. Realtors take the risk by not getting paid until the home sells.

GREAT QUESTION: No you can not MLS is held by the code of ethics and standards of realtors.
http://www.lynn911.com http://www.homes-for-sale-dallas.com

I don't think so, thee are real estate company that will list your home for a nominal fee and let you do the work but they aren't very popular, at least not in Phoenix-AZ- Hope this helps. Maria Swan