If you own real estate, you have probably heard of the MLS. It is a members-only website that is joined by real estate agents in the area. They have a local level, a state level, and a national level. Joining this association designates the agent as a Realtor. They must pay to access this service.
Picking the Wrong Agent
Reason #4 to avoid the MLS when selling your Park County, MT land is picking the wrong agent. There are so many agents to choose from, how are you supposed to know who to choose? Do you pick the person with the most ads? Or do you go with the guy your friend recommended, he just sold “some land” last week?
Time On the Market
Reason #3 to avoid the MLS when selling your Park County, MT land is the time on the market. The MLS, or multiple listing service, keeps track of how many days it’s been since you first listed it on the market. If your bare land ends up being on the market for more than 60 days, this is not a good sign to buyers. It may indicate that your land is not as desirable as other properties, or that there might be something wrong with it. There may not be anything wrong with your property, but this might stick in the back of the mind of potential buyers. Maybe you haven’t had a full price offer and are holding out. Whatever the reason, the time on market counter may work against you.
Highly Qualified Buyers
Reason #2 to avoid the MLS when selling your Park County, MT land is highly qualified buyers. Sure, the MLS may bring you buyers, but a large portion of them will have to depend on financing from a bank, and some of them may not have even been pre-qualified yet. Your land for sale can be considered a pocket listing that will reach the desks of many highly qualified buyers, most of which can purchase 100% in cash.
Commission Fees
Reason #1 to avoid the MLS when selling your Park County, MT land is commission fees. When you list your vacant land lot on the market, there are commission fees that are expected from the selling agent and the buying agent. This is usually 3% of the final sale price for a house but normally closer to 5% for bare land, which can add up to a large amount of money! If you are using an agent without using the MLS, you might be able to set a flat fee for less than traditional commission fees.