For Sale By Owner

[Michelle Nelson]

Hi BP I'm selling one of my properties in Philadelphia: https://www.fizber.com/fsbo-listing/1921_w_berks_st-philadelphia-pa-19121-4888042.html I plan to sell by owner, does anyone have any advice or comments regarding this? I have a few realtors in mind as well....thanks Michelle

[Albert Hepp]

Originally posted by @Jacqueline Gardiner:

@DiJuan H. What do you mean about listing it on the "right MLS" for your area? I thought there was just one system. I am considering doing a FSBO for a house in northern Nevada and had found a flat fee MLS service from a broker based down in Las Vegas. Is there any chance that wouldn't be the "right MLS"?

There are around 600 MLS systems in the United States. If you are not in the MLS used by agents in your area, the listing is not very useful. It is expensive for a brokerage to belong to multiple MLSs so unfortunately many flat fee MLS brokers will put you in the wrong MLS. Most consumers don't understand the importance of the right MLS, and if they complain the brokers will say "we only promised you an MLS listing, we didn't promise you the MLS used by agents in your area." The Las Vegas MLS is not generally used by agents in Northern Nevada, for example, because it is a different system and separate membership fees.

The commenter is right to make sure you are in the right MLS. Some websites have the right MLS guarantee, and if they do not reading reviews can help. Many of the brokerages will have negative reviews where sellers say that agents didn't really inquire or show their home--that is often an indication the listing was in the wrong MLS. Sometimes sellers never realize they were in the wrong MLS, and they conclude that agents are boycotting/blacklisting flat fee MLS listings, which is not the case.

Reading reviews for flat fee MLS services should be considered essential because the most advertised/cheapest services typically have awful reviews, and lots of ticked off, unsuccessful home sellers sharing bad experiences. If you don't see hundreds of positive reviews, which indicates a long track record of happy and successful home sellers, keep looking. They are out there.