Number One Selling Tip - The Multiple Listing Service
You are not hiring a realtor to put a sign on the lawn, an ad in the paper, and hold an open house - you can do this yourself. You are hiring a realtor to provide you with maximum exposure to the greatest number of qualified buyers for your home.
Supply and Demand
We are sure you’ve heard of supply and demand, right? The more potential buyers that can be supplied, the higher a price you can demand.
The absolute number one tip we can give you to help you get the most money possible for your home is this: make sure you get full Multiple Listing Service (MLS) coverage.
Don’t look at any offers until you are sure your home is on the MLS system. Again, just to be sure - don’t look at any offers until you are sure your home is listed on MLS. This gets your property in front of every real estate agent in your area. An army of realtors at your disposal just can’t be beat.
Dump any realtor that tries to tell you to list your house exclusively (only his/her company) or wants you to negotiate offers before it gets on MLS. Dump any realtor that wants to list your house on a Friday and have a public open house the following Sunday. There is not enough time to get your home on the system.
We do not care how good a realtor’s marketing plan is (or appears to be), it is worthless compared to the value of having your home on the MLS system. Think of it this way: realtor = home on MLS = more realtors = more buyers = more money.
Is the first offer the best offer?
There is a saying in real estate. The first offer is usually the best one. This is only true if everyone knows it’s for sale. We have had many situations where the first offer IS the best offer, but there have been instances where that was not true. In fact, when we have sold our own properties, the first offer was never the best. But different situations have different outcomes.
MLS Comes First
Ask any realtor you are contemplating dealing with what the order of their marketing plan is. If submitting to the Multiple Listing Service is not the first thing they are going to do, look for another realtor. Ads and signs and open houses are nice, they make you feel that your real estate agent is DOING something for you… but that is not always the case.
Most people who call on ads end up buying a different property, experience has shown this to be true. And to be honest (our fellow realtors are going to kill us for this one), signs and open houses mainly generate leads for the listing real estate agent. Most people who call on signs usually cannot afford the property they call on. Same with open houses, everyone who comes through leaves with your agent’s card, generally buying someone else’s house afterwards.
If you took away every selling tool we have and said we could only have one of them back - we would choose the MLS service. Seriously. This is not a commercial for MLS. It is just the best weapon realtors and the public have for getting maximum exposure on a property.
If you are selling a property, listing with a realtor who uses the MLS service means your property gets maximum marketing exposure to all other members of the local Board. You’ll have realtors everywhere trying to find a buyer for your property.
And with all those realtors working for you, how can you lose?
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Contact the Jeffrey Team for more information - 416-388-1960
