Selling on the multiple listing service (MLS) is a common way investors sell their property. This is done with a realtor or salesperson that places the property on MLS at market value. There are many pros and cons of working with a Realtor/ Salesperson to keep in mind.
-Potential to reach more people with professional marketing plan
-Having an agent conduct all marketing, phone calls, scheduling etc.
-Access to thousands of agents and their network
-Having to pay agent fees
-Timeline of house sell is subject to market conditions
Using the MLS can be a great tool because it gives the investor the ability to reach not only their local Realtors and buyers but also, expands across the country and for some, the world.
***Note: Now, if you are looking to have your property displayed across the world that is a conversation that needs to be held with your Realtor to see what their potential reach is. Not every Realtor has the ability to market properties globally.
Even though, this approach at times can be a bit more expensive with agent fees however, it has a lot of benefits by utilizing a Realtor and the Realtor’s resources.
When it is time to pick a Realtor to work with there are some key indicators to look out for. First, all Realtors have virtually the same access to the MLS systems and will provide the basic marketing plan. A basic marketing plan is when a Realtor will place the property on the MLS, take professional pictures and place your property on affiliate websites.
Affiliated websites are sites like Zillow, Realtor, Trulia these websites pull information directly from the MLS system. When looking for a Realtor it is important that you look at your target area or the area that your rehab is in and see what Realtor sells the most property in that area.
It is important to have someone that is familiar with the area you are in because they are typically familiar with the most effective marketing styles that attract buyers in that area. A lot of times when a Realtor list a lot of houses in that area they have a good pulse on the buyers. Normally, a house will get 10 to 20 leads that are looking in the area but, that property they called on wasn’t the one for them for many reasons. The good thing about that, is that now the Realtor can market your house to those prospective leads.
Basically, when you use a Realtor that is familiar with the area and has sold property in that area, recently, they have an increased chance of selling your property faster.