If I list on the MLS, do I have to offer a buyer’s agent commission?
The simple answer is yes. However, let’s take a moment to explain. MLS rules require there be a commission paid in order to participate, however they don’t specify a minimum amount. Through our decades of experience, we have found that in order to be successful selling your home, you need to offer a commission to a buyer’s agent that competes with other homes on the market. Just a half a decade ago, that amount may have been 3%, however with the onset of competition, a minimum of at least 2% is now recommended.
As such, because we want you to be successful out of the gate, Homepie for MLS marketing packages require 2% buyer’s agent commission as a minimum. Our sellers have found that it is very easy to price a 2-3% commission into the price they accept for their home, so it is really not negatively affecting their outcome. To the contrary, the increased competition by agents have helped our sellers sell for more, much more.
What if I get a direct buyer with no agent?
Roughly 30% of our MLS listings still end up closing without a buyer’s agent, and in that case, when a buyer is not represented, there is no buyer’s agent to pay. In today’s market, 93% of buyers find their own homes by searching online. Most share their findings with their agent, but some do not. That is when you save the most as a seller.
Do I have to be licensed agent to list on the MLS?
The MLS is designed exclusively for use by licensed real estate brokers and agents. Our limited-service listing agreement provides a way for sellers to get their homes listed in the MLS without the traditional 6-month full-service exclusive contract agents have you sign.
What happens to my Zillow FSBO listing if I list on the MLS?
Once you list on the MLS, any listing you have on Zillow will be overwritten by the MLS listing. There is no way around this, however, the benefit of listing your home on the MLS massively outweighs the chance of finding a buyer from your own FSBO listing on Zillow.
In fact, Zillow recently changed the way their FSBO listings display on their website, and now they are much harder for buyer’s to find. It used to be that you could harness the power of Zillow to avoid the need for MLS completely, but that is no longer the case.
It’s easy. First you’ll want to watch our educational video
to make sure you’re familiar with the successful tips and tricks the best agents use. Then, simply click here
to create your listing. Don’t worry, if you run out of time, you can save your work as a draft and come back later. If you prefer to speak with someone first, we are also happy to do that. Just click on the chat button at the bottom of the screen and ask to speak with a homepie representative. Happy selling!
An MLS is a database of properties for sale listed by real estate agents and brokers. There are dozens of MLSs in California, and Homepie belongs to two of the largest in the state. When you list on the MLS, your listing is syndicated to all of the major real estate websites. Since 93% of buyers find their homes online, it's important to be in the MLS so that you can get the marketing exposure you need to maximize your sale price. Listing on the MLS is currently the only way to get full market exposure for your listing.