Everyday home Sellers are told by an overzealous Traditional listing Broker that what they need is for their home to be posted to the Multiple Listing Service (MLS) which, in their opinion, is the best way to market and sell a home. But what exactly is the illusive MLS?
The MLS is a restricted website for Brokers and Agents only. Chiefly it discloses the commission and compensation paid to Brokers to transact real estate on behalf of the Seller.
According to the National Association of Realtors (NAR) its members have spent millions of dollars to develop more than 800 fractured Multiple Listing Services. Using the MLS, a traditional listing real estate broker will post a Seller’s home in hopes that another traditional real estate broker will collaborate. Invariably the most important listing detail is how much of a commission is being offered. The greater the commission the greater the chance another Broker will cooperate and the home will sell.
Therefore MLS is nothing more than a private listing catalogue created by Brokers and for Brokers to transact third party real property to the exclusion of the Home Buyer and Home Seller. Further, the MLS is never accessible to the For Sale By Owner (FSBO) Seller that is unwilling to pay a real estate broker commission.
In the 21st century the power of the real estate broker to control listing information has been radically diluted by technology; mainly the internet. Consequently, it is just a matter of time until the home Buyer and home Seller recognize the traditional commission model is an antiquated model and only works for the spoils of the real estate Broker.
The evolution of real estate is now.
Donald Van Dyne is THE FSBO ADVOCATE. He is also a licensed real estate agent in the Commonwealth of Massachusetts and the principal at JABIN Software, the developer of the iGOfsbo system. Donald is a seasoned entrepreneur and has over twenty years of experience owning and operating businesses. For the last twelve years his focus has been in real estate sales, real estate development and property management. Donald can be reached at 978.250.FSBO (3726) or firstname.lastname@example.org. To check out the Evolution of Real Estate Sales & Marketing please visit us at iGOfsbo.com.