In a For Sale By Owner MLS, you don’t have to pay thousands in commissions to get listed on the MLS. If you’re a home seller, getting your house on the MLS will increase visibility, and more exposure means attracting potential buyers.
What is For Sale By Owner?
For Sale By Owner means selling your home yourself. The home seller is tasked with all the listing agent’s responsibilities when selling FSBO. Homeowners in an FSBO sale sell their houses without the assistance of a real estate agent.
FSBO marketing, prospecting, negotiating, and closing—everything related to the FSBO sale happens at the pace of the homeowner.
Pros of a For Sale By Owner Listing
|Save on commissions||You save around 2%-3% on listing agents' commissions when you sell your house yourself.|
|Full Control Over Your Transaction||FSBO seller has complete control over the home sale process. From scheduling home showings to holding open houses, a seller can proceed with the sale at their own pace.|
Cons of a For Sale By Owner Listing
|No MLS Exposure||The seller can't list his property on MLS as the rights are reserved only for the real estate agents. This is why the seller gets very limited or fewer offers for his property.|
|Paperwork||Paperwork is one of the top three concerns for home sellers when selling their homes by owner. Homeowners have to do all the paperwork themselves.|
» Paperwork for Selling Your House: Learn more about the paperwork required for selling your house without a realtor.
What is an FSBO MLS Listing?
FSBO MLS Listing is a collectively used method by home sellers and local real estate agents to work with buyers in the market. The MLS, or Multiple Listing Service, is an online database or marketplace of houses available for sale. You must list your property only on your local MLS.
The MLS is operated and managed by state-licensed real estate agents and affiliate professionals. It includes all the information about your property, such as the price and description of your house.
» For Sale By Owner MLS Listing: Understand how to list on MLS by owner.
Pros of an FSBO MLS Listing
|Pay Less in Commission||Listing on Flat Fee MLS can result in commission savings anywhere between 3% to 6%.|
|Manage the Schedule of Showings and Open Houses||You can schedule your home showings and open house as per your convenience. When you go live on the MLS, ensure you're ready to show your property. All in all, you are responsible for the time and effort you put into your property to close a sale.|
|Motivated to Sell for Top Dollar||FSBO sellers invest their time and energy to advertise their home in the best light.|
Cons of an FSBO MLS Listing
|Budget for Buyer’s Agent Commission||You can skip on the listing agents commission but you have to pay for your buyer's agent commission i.e. 2.5% -3%.|
|You will be Hosting on Your Own||If you're selling your house through a Flat Fee MLS Listing, basically you're acting as your own agent. You are responsible to price your home, negotiate and manage contracts, and research for recent trends in the real estate market.|
How to List Your House on MLS?
There are three options that can help you list your home on MLS.
1. Best Option: Listing With a Flat Fee MLS Service
Flat Fee MLS Listing Service lists your house on MLS with a small flat fee. These listings are also called “entry-only” listings. A real estate agent will only help you list your home on MLS and provide no other services.
If you sell your house by owner and save thousands on listing agents’ commission, then listing your home on flat fee MLS is the best option.
2. List with a Low Commission Real Estate Agent
Selling your home with a low-commission real estate agent is the ideal way to maximize your profits. A low-commission real estate agent charges around 1% to 1.5% commission.
» Low Commission Real Estate Agent: Know about the 10 best low-commission real estate agents.
3. List with a Full-Service Agent
A full-service agent can be another option for selling your home. They are licensed, real estate agents. A full-service agent will assist you from the listing of your property on MLS until closing. Full-service real estate agents charge commissions ranging from 2.5% to 3%.
» Top Real Estate Agents: Find out America’s Top 10 real estate agents
What is the Best Flat Fee MLS Listing Service?
|Flat Fee MLS Service||Price||Additional Fees||100% Online||Offer Management||Showing Management||5-star Rating||Mobile App|
|2. Beycome||$99 - $599||None||✅||✅||✅||❌||❌|
|$299 - $499||None||❌||❌||❌||✅||❌|
|5. Flat Fee MLS Realty||$99 - $399||🚩 $775||❌||❌||✅||❌||❌|
|6. Flat Fee Group||$399*||$20||❌||❌||✅||❌||❌|
|7. Fizber||$295 - $395||0.12%||❌||❌||✅||❌||❌|
|8. List With Freedom||$89-$295||🚩 0.25%||❌||❌||✅||❌||❌|
*Varies across states
Why Houzeo is #1: Houzeo provides the best combination of max savings, max exposure, cutting-edge tech, and 5-star customer service.
Packages: Houzeo offers 4 Flat Fee MLS packages.
- Bronze Package – $299: It is best for selling a lot. Your listing gets syndicated to Zillow, Trulia, Realtor, Redfin, and more.
- Silver Package – $349: This includes everything competitors like Fizber.com charge $399 for. In addition, you can make unlimited changes to your listing.
- Gold Package – $429: It is Houzeo’s signature package and includes all the technology Houzeo is known for: Houzeo Showings, Houzeo Offers, and Digital Transaction Management.
- Platinum Package – $999+: It includes the assistance of a licensed broker to help you with negotiations, disclosures, and closing.
Custom Yard Sign: To maximize exposure, Houzeo offers custom “For Sale” yard signs. It costs $49 and comes free with a selfie!
👉 Our Take: We recommend the GOLD plan. You’ll have access to Houzeo’s cutting-edge technology, making managing showings and offer negotiations easy!
- Quick listing
- Nationwide coverage
- Mobile app availability
- Savings on commissions
- 100% online – easy listing, fast changes, online showings, and online offers
- Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites
Houzeo is available nationwide.
Reviews: America’s Best FSBO Websites
We’ve reviewed the best paid and free For Sale By Owner Websites in 2022
Why Beycome is #2: Beycome offers affordable MLS listing packages and decent technology. Beycome is popular in Florida and a few other states.
Packages: Beycome offers 3 MLS listing packages.
- Basic Package – $99: This package allows maximum pictures on the MLS and unlimited changes to your listing. You get free legal forms and disclosures, a free open house scheduler, and a tool to manage home visits.
- Enhanced Package – $399: With all the features of the Basic Package, this package includes a yard sign, a featured listing on Beycome’s website, flyers, and brochures, and one key lockbox. Additionally, you also get the option to add a virtual tour video to your listing.
- Concierge Service – $599 + 1% Commission: This is essentially a virtual full-service package that includes assistance till closing. They charge 1% of the sale price at closing with this package.
🚩 You Should Know: The $99 package requires a mandatory $25 cancelation fee. The virtual full-service package has a 1% commission, which according to us is very high.
👉 Our Take: Beycome is 100% online but has limited coverage and average customer support. But if you want to list with Beycome, we recommend the Concierge Service Package, because it is virtually full service.
» Beycome Reviews: Pros, Cons, and Alternatives – Everything You Need to Know
- 100% online
- Free open house scheduler
- Unlimited updates and changes
- Listings remain active until close
Beycome is rated 4.5 stars on Google.
Beycome offers MLS listings in Florida, Illinois, Minnesota, Georgia, California, South Carolina, North Carolina, Alabama, and Connecticut.
3. Congress Realty
Why Congress Realty is #3: Congress Realty offers a lot of a la carte services to home sellers. This allows customization of the MLS listing packages based on your requirements.
Packages: Congress Realty offers 4 listing packages.
- Basic Package – $299: With this package, your house gets listed for 6 months. But, you can upload only 4 photos and make only 5 listing changes.
- Plus Package – $399: This package allows you can upload up to 10 photos with your listing. This package offers unlimited listing changes. All the leads are call-forwarded to you.
- Platinum Package – $499: With this package, you can list your home for six months with a maximum number of photos. In addition, you get to post open houses.
- Full-Service Package – $399: This package offers everything included in the Platinum package. In addition, you get a licensed real estate professional to assist you throughout the process. You are charged an additional 0.5% at closing.
👉 Our Take: Congress Realty has a good customer rating, but is low on technology. If you wish to list with Congress Realty, we recommend their Platinum Package.
- Sold over $1B in properties
- Offer a personalized client portal
- Licensed in every state of operation
Congress Realty is rated 4.8 stars on Google.
Congress Realty covers the following states:
- New Mexico
» Best Flat Fee MLS Listing Services: Check out our rankings of the best flat fee MLS companies.
Is For Sale By Owner MLS Listing a Good Choice?
Yes! An MLS listing by owner is a good choice for those home sellers who have prior experience in home selling. The MLS is built to make it simpler to sell your home and to find homes for sale.
Sellers who want to save on the agent’s commission might find the process overwhelming. You can list your house on the local MLS by choosing a reputable flat-fee MLS listing service like Houzeo.com.
Frequently Asked Questions
1. Can For Sale By Owner List on MLS?
Only licensed real estate agents have the access and right to list on MLS.
2. How much does it cost to list on MLS?
Realtors charge 2.5% to 3% commission to list a house on the local MLS. Flat Fee MLS companies on the other hand typically charge $300 to $400 for the same.
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