With the shrinking supply of housing and rising real estate prices in Massachusetts, Bay State homeowners face excessive commissions and fees if they decide to sell their properties.

To avoid the additional expense, over 10% of Massachusetts residents choose to sell their homes as ‘For Sale by Owner’ (FSBO), a process that cuts out the middleman and saves homeowners thousands of dollars. However, FSBO sellers should know that all aspects of home selling will become their responsibility. These steps include advertising, marketing, staging, and arranging open-house viewings. All tasks involved with selling a home cost money and take time.

Fortunately, FSBO sellers can use a multiple listing service (MLS) to save time and money.

What is an MLS (Multiple Listing Service)?

In the 1880s, real estate professionals realized that sharing information benefits everyone, and to this end, they created the first multiple listing service. In today's digital world, sharing this information is easier and more efficient than ever. Real estate agents with a National Association of Realtors (NAR) membership can pay a modest additional monthly fee to access the MLS Database in their area. These listings provide pricing and terms of sale, square footage, and other unique features. Most of the listings also provide photos and videos of the homes.

MLS brokers can obtain listing records as licensed real estate agents. Though these types of firms establish their own set of procedures and policies, they must also adhere to the rules of NAR.

How Does the Flat Fee MLS Work?

MLS brokerage firms offer their clients a basic package with a flat fee. The amount varies between companies, but these fees are a fraction of the cost of hiring a real estate agent or paying for marketing, staging, open house events, and showing the home.

The client selects the MLS region most appropriate for selling their property. There are approximately 600 regions throughout the country. Clients may sign up for more than one region for an additional fee.

HomeZu, a flat fee MLS service for example, offers upgrades at reasonable prices, such as monthly listing extensions and website domains.

Why is a Flat Fee Listing Service Better?

In the United States, the number of homeowners who choose to sell their own homes continues to rise. As of 2022, approximately ten percent of all homes were sold FSBO.

Unless a seller already has a buyer, such as a friend or relative, they must advertise and market extensively to sell their property. The most efficient way to get their property into the market is through a flat fee listing service. FSBO sellers can handle all aspects of selling their homes for a reasonable fee. These services are very user-friendly, especially when facilitated by a company such as HomeZu, and the results are rewarding.

How Do Flat Fee MLS Listing Services Work in Massachusetts?

In New England’s competitive housing market, the best way for FSBO sellers to save money and time is to commit to a flat fee listing service in Massachusetts. Though using the MLS is relatively straightforward, preparing before signing up for the service is critical. The steps you should take before listing with an MLS for a flat fee include:

•  Select the plan that best suits your needs. The housing market in your area and your urgency to sell will ultimately dictate what plan and extra features you purchase.

•  The next step involves listing property information. You will need to know the details of your home and access the deed or mortgage to your property. You’ll also want to prepare to submit property disclosures involving structural concerns.

•  Decide how you want your home shown. Are you okay with having open houses, or do you prefer to set appointments?

•  When considering offers, you should determine how much you’re willing to negotiate on the asking price. If you have multiple offers, you'll also need to consider factors other than price, such as closing costs, time until closing and possession, and possibly even personal preference for who buys your home. Some buyers will even write letters to the seller explaining why they are the best choice.

An MLS Listing Service Can Help

Your MLS Listing Service will help you sell your home and move on to the next chapter of your life. The HomeZu basic package includes a six-month listing with local agencies such as Zillow, Trulia, Realtor.com, and Redfin, handing purchase forms and disclosures, flyer handouts, and a space for up to 25 photographs. We will also help you schedule showings and appointments.

To register for our service, all you’ll need to do is:

1. Select your state and region and sign up for the service.

2. Create your listing using our user-friendly platform.

3. Show your home by scheduling appointments or setting up a lockbox so agents can access the property.

4. Review offers and accept the one that best meets your needs. If the sale falls through, you may continue to show your home after accepting an offer.

5. Close and celebrate!

If you’re considering putting your home on the market in Massachusetts or throughout the broader New England region, make sure to check out EntryOnly.com for a trusted consultation regarding MLS listing services.