Thank you for your question. How can a company charge you $377 to list your home? Your question OUGHT to be: How can a company SELL your home for $377? The truth is that most cannot SELL it. They can list it, and take your money, but most listings by MLS entry only firms do not sell.
The truth is that the buyer that first sees the home they buy sees it with a Realtor 90% of the time. Realtors know the market, they know value.
An MLS entry only firm does just that...puts it in the MLS. They offer no advice on pricing, marketing, etc. Some offer this advice for additional fees. The truth is that you will end up paying the agent that brings the buyer their percentage, so you are probably trying to save one or two percent...that is assumming the home sells.
Let me explain. When a home is listed, and does not sell, it is called an Expired Listing.
During the first three months of this year I did an analysis of our MLS and this what I found.
Homes sold by Full Service companies sold for 2.6% MORE than those sold by discount or MLS enty only brokers. So you would make almost as much by paying a full service broker.
Also, homes listed by Full service companies failed to sell 33% Fewer Times than those listed by MLS Entry only brokers.
So, unless you have money to burn, time to kill, and don't need to sell, I recommend interviewing three Realtors, pick the best, and go from there.
It is rather attractive to say you will pay only $377 to get your listing on the MLS ---- but that is not the end of marketing activities to sell your home particularly in these challenging times. Will you also invest in other marketing tools used by realtors to promote a listing? Do you know and have all the documentation and diclosures that you will need to present to your prospective buyers? Do you have time to show the property when people call to make an appointment to see it? Will you be able to stay neutral and unemotional when people give you negative feedback about your property? There are a lot of questions you should ask to see if it's worth the time, effort and money to do it yourself versus hiring a professional realtor who does this for a living.
If you have a child in school, would you trust someone who is not a teacher to teach your child? Would you allow someone who is not a dentist do a root canal on you? Would you trust a file clerk to prepare your complex tax returns?
Before I became a realtor, I tried to sell a house myself. Besides incurring the advertising expenses, it proved to be a hardship to make/keep appointments to show the house. After several frustrating weeks, I hired a realtor and felt an incredible sense of relief that my home was in the best hands. It sold shortly after that. I could have saved myself the mortgage payments while waiting to sell the house myself.
Do yourself a favor....hire a pro.
When you sell your home using a Realtor you typically do not pay the Realtor until your home sells. The Realtor incurs all of the upfront costs in marketing your home for sale. If it does not sell then they have spent money on their business with no return. By paying $377 to place your home in the MLS with this type of service you incur the cost whether your home sells or not.
Somewhere around 90% of homes listed as For Sale By Owner (FSBO) are sold with a Realtor representing the buyer. The FSBO usually agrees to co-op with the Realtor and pay him / her a commission for bringing the buyer. That means the FSBO is probably saving only half of the commission a Realtor would have charged to list the home plus paying $377 to put the home in the MLS. When you add up all of the personal time involved to show a home as a FSBO and then coordinate all of the steps from accepted contract to closing the FSBO may not really be saving much, if any.
If you choose to pay the $377 to place your home in the MLS it should be uploaded to Realtor.com. I do not know the specifics of your local MLS, but the one I work in in Northeast Florida does feed any listing in the MLS to Realtor.com.
Good luck with what ever you choose to do.
Prudential Network Realty
Orange Park, FL
C: (904) 327-5676
O: (904) 269-1716