Selling a home can be one of the most stressful experiences a person can go through. There is a lot of personal finance on the line and it usually dictates the new real estate that you can acquire, whether you're looking to upgrade within Brantford or relocating to a Mississauga condo. In the last decade, thanks to the addition on online home listing and MLS, the stress of home sale has been slightly reduced. This is because a greater number of potential buyers have more complete access to your home listing.
What is MLS?
The acronym MLS stands for Multiple Listing System. In today's market, brokers own private databases of the home seller's properties that they represent. These databases can be sorted by price or location and distributed to as many real estate agents who are members of that brokerage as wish to display them on their personal sites. Here is a great example of a searchable map-based tool that allows individuals to see lots of information about properties that are listed for sale in a given market area.
The benefits of MLS
There are many advantages to listing your home with an MLS broker. One of the main rewards is the ability to save quite a bit of money. Brokers charge a flat free for the ability to list your home within their listings, while agents take a commission from the sale of a home. This is usually an average of $7,000. The fee charged by the broker will most likely be significantly less than this. Other agents and homebuyers browse these MLS listings for potential properties, allowing you access to all kinds of potential buyers with one pre-determined payment.
Read more about the average Ontario real estate commission fee right here.
Many brokerages will share MLS listings and these brokerages can have offices all across the country or even the world. That means that one of the other large incentives of using this system is that you have a much greater chance of finding a buyer for your home quickly. Those relocating from another location provide the greatest number of home sales on the market and MLS listings in the quickest and easiest way of tapping into these buyers. The future owner of your property has the potential to be from down the street or across an ocean!
If you're placing a home on the market, one of the smartest decisions you can make is adding that property to MLS listings. This will limit the stress on you to find a buyer, allowing you to enjoy finding a new piece of real estate to make into your dream home.