Home Selling in 80517>Question Details

Michener, Home Seller in Estes Park, CO

we are owners/contractors that would like to sell by owner and will give the realtors a % for bringing a

Asked by Michener, Estes Park, CO Wed Apr 2, 2008

buyer can I post on MLS as an independent, will our listng be right in line with all of the others in the area, or will we be in some other catagory

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8
Hi Monte,
It is correct that to put a listing in the local MLS it needs to be entered by a Realtor who is a member of the MLS, in our case, IRES. At that point you are automatically posted in Realtor.com, and if the Realtor subscribes to the ListHub service, all the other websites as well, including Yahoo, AOL, GoogleBase, Trulia, Zillow, HotPads, etc.

The most recent stat from the National Association of Realtors is that nearly 90% of the homes closed began with an online search. Newspapers are down to 3%! (I would LOVE to stop all the local ads...)

Talk to you soon, Lisa
Web Reference: http://TheYellowMailbox.com
0 votes Thank Flag Link Sat Apr 25, 2009
I just stumbled upon your post today. Have you had your questions answered yet to your satisfaction?

As far as I know, there is no way for you as an individual to post a property to the local MLS. The only option you have is use a full service realtor or a discount realtor to post your property for you. If all you want is someone to post your property in the MLS, you may be able to find someone to do it for a fee. Once it is on the MLS, there will be no readily apparent distinction between your listing and any others.

Let me know if you have more questions. I'm happy to help.

Sam Basel
Estes Park Realty
970-215-0759
Web Reference: http://www.homesinestes.com
0 votes Thank Flag Link Thu Jul 24, 2008
Hi Michener,

You should check with the local multiple listing services in your area if you can list as an independent. One thing to keep in mind is that hiring a Realtor though there is a cost to it is always the best advise one can give you. In this market properties need a lot of exposure in order to compete with such a big number of listings. Remember commissions are always negotiable. Good luck.
Leonardo
Web Reference: http://www.leonardoteam.com
0 votes Thank Flag Link Fri Apr 11, 2008
Your listing will in in the same category as all the others. What will differentiate it will be the "co op" fee. Be sure to pay a selling agent a decent fee for taking on both sides of the transaction. You are essentially a "FSBO" which normally means extra work for a selling agent.

Treat your selling agents right and they will bring buyers to your door. That means make your home as accessible as possible, easy to contact for appointment, easy to show and in ready condition.

Good luck.
0 votes Thank Flag Link Fri Apr 11, 2008
Hi Estes Park!!! How are the Elk doing? I'm here in Metro Denver, and we love going to Estes in the Fall to listen to the bugeling...have friends that have a cabin in Estes. Great area, really artsy and outdoors. An easy drive from Denver. So...on to the business...yes you can post via an agent on the MLS...for a fee. We all have our costs to use the MLS...it is not free to us. I agree with the others that you do need to have representation, or, in Colorado, the agent becomes a transaction broker and is loyal to the transaction not the seller or buyer (the agent would have to get the buyers agreement to do this). If you feel strong enough and have a very good sense of the market value of the home you are selling, then why not represent yourself. There is so much to consider and work to do. Are you familar with title work, how to know that your buyer is qualified and the Colorado contract to buy and sell? The majority of FSBO's end up in some kind of litigation, because of disclosure issues or inspection issues. Call and I can put you in touch with a realtor in your area that knows the lay of the land up there. Having an agent that has fiduciary duty to YOU, the seller, would be the best. Like one agent said that works with FSBOs....call me when you have had enough fun. This is hard work, dealing with lenders, title companies, appraisers, inspectors, etc. which you will be doing..Have been doing this for some time and grew up with it. Let me know if I can be of help. Sounds like you might have a great build in a great location. call with questions...always happy to talk. Fran Henderson , Coldwell Banker 303-522-9007
0 votes Thank Flag Link Thu Apr 3, 2008
I would say you would be wise to hire a Realtor(c) to represent you; your listings will sell faster (stats prove it), you'll save more time (you won't have to show it, create advertising, take all the calls, inquires nor be subject to issues of litigation (stats show 80% of all real estate litigation involves an unrepresented party to the transaction, I.e. FSBO). You can do what you do best...professional builder and let the Realtor do what they are professional at; representing clients and selling property! Listing agents dot the I's, cross the t's, hold the E.& O. insurance coverage, look out for their client's best interests with a fiduciary commitment, and perform the services of making sure the buyer's stay on track with deadlines, disclosures, regulations, negotiations, communications, and a miriad of other details that insure compliance and ultimately a successful transaction.

I would not recommend letting a buyer's agent represent both sides of the transaction as your interests as seller, are not protected as they should be. It is always better to have an agent who is dedicated to the individual client. You need every advantage to get you homes sold; and you'll definitely be at an advantage with a Realtor working for you. If you need a great referral let me know; I worked with a great agent in Colorado Springs (High Producing), whom you would do well to talk to. Let me know by contacting me through my web site below to request that referral. Best of sales to you! June Lizotte, Realtor(c) in Oregon, (previous Colorado resident- I love Estes Park) All those Elk!!!
Web Reference: http://www.junelizotte.com
0 votes Thank Flag Link Wed Apr 2, 2008
Michener
That is a great question.
Let me ask you a few questions:
Are you planning to coordinate the closing on "your side" of the transaction?
Or are you expecting the buyer's agent to do "both sides" of the transaction?
If that is so, then who will represent your interests?

So you could:
Offer the buyer's agent their "normal" commission and expect them to do the work of two people for the price of one. (not lilkely to happen)
Offer the buyer's agent BOTH sides of the commssion to represent both sides (then why not just hire a listing agent)
I find it fascinating that you, as a contractor, would believe that there is no value to the services offered by a Realtor. If you go with the option of paying the buyer's agent a commission, plus you are going to list it in the MLS, you are saving a point or two in price. Maybe....IF it sells.

Looking in MY MLS for the last three months, here are the stats for MLS only brokers
14 listings, three sold, 11 did not.
The three that sold had a selling price of 93% of asking price and average market time of 126 days

The average EXCLUDING MLS only listings
1,528 listings, 607 sold, 921 did not. Just based on that factor alone, why would you NOT use full service.
Sale price versus asking price ratio 98.4% when selling in the first 30 days. So you need someone to help you get your property sold in the first thirty days to max your profit.
Days on market overall 84 Days.

I hope this data is helpful. If a Realtor can show you that they can actually EARN their commission, sell for more profit, in a shorter time frame, at least LOOK at this option.

It would be as if I said "I want to be my own general contractor". You'd just laugh at me, knowing what I was going to face. It's the same thing, us looking at your idea.
0 votes Thank Flag Link Wed Apr 2, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
In NC the MLS services do not put the listings in any catagory other than by the normal search parameters such as address, and price. So good luck I guess the one thing to ask is how is your marketing plan? Are you going to going for; local, regional, statewide, national or international coverage. Just have a good plan in place.

Larry Story
Coldwell Banker Triad
0 votes Thank Flag Link Wed Apr 2, 2008
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