Many homeowners think using the Multiple Listing Service (MLS) is their best and only option to sell their Pittsburgh property. The truth is, it depends…
When it’s time to sell your Pittsburgh property, you may be wondering where to begin. Factors like the local real estate market, listing price and the home’s condition can all impact the amount of time it will stay on the market.
While the MLS can have its perks, it in no way guarantees you a sale, let alone a quick one. In fact, there are several drawbacks to listing your home on the MLS.
Timing concerns
According to recent Pittsburgh real estate data from Realtor.com, homes in the area sell after 62 days on the market on average. If you’re willing to put the time and energy into hiring an agent, creating a detailed listing and waiting for the right buyer, the MLS can be a useful tool to sell your home. However, if your home stays listed for too long without any traction, it can send a negative message to the market.
Added costs
If you want to list your home on the MLS, it will cost you. First, you’ll need to work with a licensed real estate broker to gain access. The fees agents charge for this service vary, but expect to pay anywhere around 5-6% of the sale price on total realtor commissions. You may also need to invest in higher quality photos of your property in order to enhance your MLS listing.
Lack of privacy
You might think that the more exposure a property receives, the better, but that isn’t the case for all sellers. While it may seem counterintuitive to attract less attention, some homeowners are looking for a quick, hassle-free sale without drawing swarms of people into their home. Maybe the property has been vacant and is in poor condition, or maybe it’s owned by a landlord who doesn’t want to disturb tenants. Either way, listing on the MLS might not be the best fit.
So, how can you avoid these drawbacks?
Consider ALL of your options
Before you decide to hire an agent and list on the MLS, identify your priorities. If you’re in need of a quick cash sale, then working with an investor for a direct sale might make more sense than investing more of your resources. You could also consider a FSBO (for sale by owner) or an off-market listing. Bottom line – evaluate the pros and cons of each sale method, and then proceed with the option that meets your unique needs. Are you looking to sell your property but still aren’t sure which route to take? Three Suns Property Solutions will work with you to evaluate your options and help you determine if a cash sale makes sense for your home. Contact us today.