The MLS is expensive but it’s worth it. ⠀
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Listing your home on the MLS, and as a result offering a buyers agent commission will probably be the largest expense in selling your home (at least it is for our customers) but…. most home sellers can’t afford not to use it. ⠀
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Here’s why. When you are on the MLS you are attracting ACTIVE BUYERS. And a lot of them. Even today it’s still responsible for 87% of residential home purchases. And not only do you reach a greater quantity of prospective buyers, you reach higher quality buyers. ⠀
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Here’s how. ⠀
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Because most buyers are using agents at the sellers expense (more on that later…) it costs them nothing to be represented. So they are, and their agents are feeding them homes straight from the MLS. The upside is you can now leverage the MLS as the single most effective way to reach active buyers. ⠀
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So what do i mean by active buyers. Let’s break it down. ⠀
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1. They’ve been pre-approved from a mortgage lender. ⠀
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The majority of buyers working with an agent have already gotten approval from the bank to buy a home in your price range, so you’ll get people who love your home AND have the financing to purchase it. These aren’t just people liking and saving homes, like they do photos on Pinterest. They are actually hunting to purchase a home. ⠀
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2. They are looking for a home like yours. ⠀
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They aren’t just looking for a home, they have specifically asked for one like yours, the same sq. footage, bedroom and bath count, same neighborhood, and even at times same school zone. They are literally waiting for a home like the one they asked for to be available to buy. And when your home matches that criteria and hits the market, those agents and their customers are notified. They literally get an email showcasing your home. ⠀
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3. Lastly, they have a pro helping them.⠀
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They are being represented by a professional real estate agent. This means, not only do you have the buyers who are motivated but you get an agent who wants to sell it even more. They’ll bring their clients and sell the house for you. It’s like hiring hundreds of sales reps for your house.
