For Sale By Owner Lawrence, KS

Think you need MLS (Multiple Listing Service)?

Agents trying to scare you into listing on the MLS?

Here's the true facts:

Good questions. First keep in mind that today, 90% of all buyers, DO NOT HAVE A BUYER'S AGENT. Do not assume that agents have all the buyers in their hip pocket that they'll unleash the minute you list with them, as they imply.

There is certainly no shortage of discount real estate brokers offering to slap your FSBO property on the MLS for what appears to be small amounts like $95 or $149 or whatever. But be very leery of these offers, as your true cost will be much higher than you can ever imagine! When its all done and over, you can figure on it really costing you 10% - 20% or more of your original asking price.

Seems most discount brokers "forget" to tell you some vital information. For example, when you go on the MLS, you must pay two (2) commissions...one to a listing broker and one to a selling broker. You must pay for all your advertising outside of the MLS which is very expensive.

The MLS is not available to the public. It takes the discount broker all of 5 minutes of their precious time to list you on the MLS, not bad $95 for 5 minutes work! Your property will NOT be advertised on most local real estate sites. Most brokers only put listings which offer the highest commissions and do not display certain types of listings where the seller has the right to sell themself.

Also, do not count getting full asking price from a "buyer's agent" as they work for the buyer, not you the seller. Their duty is to get the lowest price from you the seller, for their client, the buyer. Essentially, you'd be paying a buyer's agent 3% to beat you up and get the lowest price from you! You can also expect the buyer's agent to request expensive repairs and maintenance after the buyer does their home inspection, many times this is thousands of dollars. Plus, you can expect the buyer's agent to ask you to pay for an expensive home warranty for the buyer.

Most important, today's home buyers are very smart, and they know all homes listed with agents have inflated prices to cover their high commissions. Buyers today shop FSBO first. Price your home for market value without commission, be much more competitively priced, sell faster and net more. Study both the advantage, and the disadvantage of this listing. We suggest you sell FSBO, on this site. Our customer's 13 year track record of success speaks for itself. Sell faster, pay no commission. We're with you every step of the way with any questions or assistance you may need.

The MLS is the Multiple Listing Service. It is a listing service that area real estate agents and brokers use to "list" their properties for sale. All MLS member real estate brokers can list their homes for sale and make them available to other agents to sell. The MLS is not available to the public, however, some information and photos may be on some privately owned internet sites (such as agent sites).

Not really. To be on the MLS, you must be listed with a broker. You must agree to pay two (2) commissions and you must declare how much commission you will give a buyer's agent before you list...this is NOT decided when an agent brings a buyer.

There is no shortage of discount real estate brokers who would be more than happy to list your FSBO property on the MLS for a fast buck. But be careful!

When you, or anyone, goes on the MLS you must agree to pay a commission to a buyer’s agent – which can be any amount you want to pay. In addition, you must pay a listing broker a commission to put you on the MLS. These listing brokers will put their phone number on the MLS in an effort to attract buyers and then sell them a different house, not yours! You are required to pay for all advertising; they will not advertise your property. Most have additional fees if you want them to prepare the paperwork for you.

Also, keep in mind that if a buyer’s agent makes an offer, they are rarely at full price, most are very low offers. A buyer’s agent is working for the buyer and trying to get them the lowest possible price. Plus, a buyer’s agent will want you to purchase a warranty for their buyer and after the buyer’s inspections, you can expect the buyer’s agent to ask you to pay hundreds or even thousands of dollars for repairs!

WARNING! Most discounted MLS listings are not available for buyers to view on most area real estate firm internet sites, so do not assume you are getting any “extra” exposure. These sites only accept and post the higher commission listed properties in their attempt to discourage buyers and sellers from using discounted MLS. However, the U.S. Justice Department's price fixing division successfully sued the NAR (National Association of Realtors) last year. Now they have the individual brokers "cherry pick" which MLS listings they put on their local web sites. Most opt to list only the properties paying the highest commissions. This is borderline price fixing, and that is a whole different conversation.

Buyer's agents work for the buyer, not seller! The BUYER pays the agent, not the seller. Don't be fooled into paying a buyer's agent a commission if they bring you a buyer! Buyer's agents work for and are paid for by, the BUYER, not the seller! Agents won't tell you this, we will!