Expert: Dick Dennis - 8/20/2010

Question
I am planning a FSBO/FlatFee MLS
What is the meaning of a "LOCAL" mls? And what makes a "local" mls important versus a "outside" MLS?
If I use a MLS from a city/county outside of my property how would that impact the dissemination of the information?
Thank you


Answer
For sale by owner flat fee would mean the multiple listing you'll be involved with will charge just that, Paul. A flat fee. No other fees involved.

A local multiple listing service is one that serves an area that is within the area that you live. If a person wants to buy a house witnin area A, then he would look at property listed in that MLS.

On the other hand, if he is looking for property outside his area, then he would look for an MLS that operates in that outside area. If you're looking to sell a property to someone outside your MLS area, then you should list your property with a service that is more all-inclusive than just a local MLS.

Obviously, the more areas you advertise your property, the more likelihood you may find a buyer . . . but it will be more expensive, too. I recommend you find yourself an experienced, good Realtor who will get that property sold for you . . . and most likely get you the best price that would make up for having to pay his/her commission. That person knows what is going on in real estate today.
I wish you well.

Dick Dennis
dixiedee13@aol.com