Residential real estate market information for Metro Detroit's Northern Suburbs brought to you by Realtors Maureen Francis and Dmitry Koublitsky of SKBK Sotheby's International Realty. Monthly market statistics for home owners in Oakland County. MLS listings available on our web site:

Sunday, April 10, 2005

MLS Only Listings

Last year we had an acquaintance who listed her home with a firm that offers a service called MLS Entry Only. The broker has no responsibilities to the client other than to insure that the home is placed in the MLS. Essentially the home is for sale by owner. There is a very small fee for this service, but it is important that the seller understands that they are not getting exactly what they think they are paying for. Yes, the home is in the MLS, but the way it is listed will prevent most agents from pulling it up. This will severly limit showings. In the case of our acquaintance, the home was listed for 124 days this way. It never sold. Without the proper exposure, it never really had a chance. Of course, this can have a negative effect on value. Potential buyers will wonder why nobody else has wanted the home so far. I am always looking for ways to save money. However, we have sold homes for many clients at far higher prices than they ever would have considered on their own. And these homes were sold quickly so that the seller could use the money they needed to move on to their next home. Its easy to focus on the Realtors commission as something you want to save, but if you don't sell your home, then have you really saved anything at all?
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