What about selling the home through one of those companies

that advertise to put the house on the MLS for a small fee?

By Elise Timpe

The MLS is actually  a "help wanted" ad from the listing agent to the selling agents. The listing agent usually offers half of the commission paid by the seller to the other members of the MLS (RealtorsÒ) if they find and represent a buyer for the listing.. Commissions are negotiable by law.

This is what makes the MLS so powerful. Once a home is listed, thousands of Realtors® have immediate access to the information.

Since agents get no salaries, perks or any other compensation, they generally do notice how much commission they will make when considering a particular home to show from the MLS, even though they are trying to do what's best for their buyers. That commission will be what they pay their bills with if and when they successfully close the sale. They can also take note of whether the seller is represented by a Broker, or has just paid a fee for the input with no further connection to the agent doing the MLS inputting. 

This will also figure into the equation when the agents choose homes to show their buyers, because every agent is aware that if anything goes wrong after the sale (mold, leaky roof, lot line disputes, undisclosed defects, improper paperwork, missing paperwork, etc.), they will be named in any resulting lawsuits and may have to come up with thousands of dollars (which would be the deductible for their E & O insurance).

Agents, Brokers and RealtorsÒ can be very wary when a seller is representing themselves. Agents are told that they can be held liable for any number of things concerning both buyer and seller by virtue of their license. They are also bound by duty to represent their clients best interests (which, in this case, would be the buyer).

Did you know that there are several places in the purchase contract where just a checkmark placed or not placed can put thousands of dollars of sellers money into the buyers pocket?

How effective do you think a  MLS listing is to the seller under these circumstances?