Question RE: Selling multifamily via MLS?

Question

If I get a real estate license in MA..can I then post a multifamily for sale on MLS? Or would I need to be an agent to do this?

I'm new here..but have learned a lot already on this board. I'm inspired to build the empire! I'm thinking about doing a 1031 exchange with this and using the equity to buy 2 more properties.

Seems like it makes sense to sell it myself.

Russell Brazil · Answer

@Sue Wilcox if you are just looking at listing this one property.....you are probably going to spend more money getting your license than you would get back as a commission. Getting your license isnt as cheap as many people think. Education, testing, licensing, association fees, e&o insurance, continuing education.  Plus you actually need to know what you are doing with listing the property, and going through the contracts. You will need your broker to walk you through your first few properties, of which they will not only take their commission split, but also a referral fee for essentially doing all the work. There is a lot of legal compliance issues that will come up that you will have no idea on how to handle, and can open you up to huge amounts of liability if not done right. Miss a simple initial on a lead paint form, possible fine in the tens of thousands.

Mark Creason · Answer

Sue,

If you get your real estate license, and you go active with a broker, you could post your property on an MLS, if your broker belongs to one.

Mark

Sue Wilcox · Answer

Thanks Mark,

I'm not sure if I want to work 25 hours a week for a broker. I just read that you can also pay a flat rate to a broker for listing a property. Have you ever seen this?

Susan