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Advantages of the Multiple Listing Service or MLS
by: Michelle Shelton
The MLS is a powerful tool that REALTORS® pay to access. When a listing agents accepts a full listing and it will be featured on the MLS, the listing agent is willing to co-op their efforts in order to procure a sale on your home. In other words, the percentage the listing agent has agreed to with you, the owner, is shared commission when they place it on the MLS. This way thousands of buyer's agents will bring their clients to your home in the hopes of earning the percentage the listing agent and the owner have decided to pay.
The nice thing about this is you don't have only one or two individual salespeople attempting to market and sell your home. You have several thousand agents with potential buyers working for you.
The downside is some listing agents or owners don't want to pay for the buyer's agents. In my opinion the buyer's agents should never earn less than 3% on the sale of a home. Buyer's agents work extremely hard at showing homes during everyone elses family time. They are away from their families, miss vacations, cut into nights and weekends. They are on call all the time. Once a deal is established, the real work begins. Termite inspections, general home inspections, mold, roof, heating / AC, pool, and many other inspections can keep a buyer's agent extremely consumed with the sale of your home. There is a mountain of paperwork with timelines on each. The buyer's agent typically is the one that gets the contract to all parties involved such as title and lenders and maybe home warranty companies. You may or may not realize the amount of work that goes in to selling a home and if you don't do the required paperwork and allow the buyer full access, you are opening yourself up for a major lawsuit.
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About The Author
Michelle Shelton is a realtor, licensed Arizona Real Estate Agent and listing agent with Keller Williams Realty Southeast Valley. She specializes in East Valley horse property and can be reached at http://www.askmichelleshelton.com.
This article was posted on 2005
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