Flat Fee MLS
listing has become a part of the Canada’s real estate landscape. In a
landmark decision by the Canadian Competition Bureau, the Canadian Real
Estate Association is now required to open the MLS system to allow for
Flat Fee MLS Listings.
Since this announcement, there have been a number of companies that have
embraced Flat Fee MLS listings and have made it their core business.
One of those businesses includes the Cloud Real Estate Team
(www.cloudrealestate.ca). Since launching in November 2011, the Cloud
Real Estate Team has helped numerous home sellers’ sell their home on
MLS and save thousands in real estate commissions.
We spoke with Simon La of the Cloud Real Estate Team to understand how
it works. We were told that listing on the MLS can be easy but there are
a lot of considerations before you jump into selling your home by
yourself.
1. Always ensure you are listing with a real estate brokerage that is
located in your city. If you live in Toronto and you list with a
Brokerage in Vancouver, even though it will show up on Realtors.ca, the
listing does not show up the local Toronto board MLS. This will result
in a significant decrease in exposure as most buyers still work with an
agent when buying a home.
2. Always offer a commission to the co-operating brokerage. Because most
buyers are still represented by a co-operating brokerage, it is still
necessary that a co-operating brokerage commission be offered to ensure
that you maximize your home exposure. By not offering a co-operating
commission, even though you have listed on MLS, it is no different than
having your home listed on Kijiji or Craigslist.
3. Always have a Realtor collect information on your home. All too many
times there have been situations when the buyer sues for negligence if
poor or inaccurate information is provided. By having a Realtor collect
information on your home, you can ensure that you will not be at risk of
a lawsuit as a Realtor is insured.
Getting your home listed on MLS is easy but you just want to make sure
it’s done properly. Moreover, you want to ensure that you are available
for appointment bookings and offer showings. Having a premium Flat Fee
MLS listing service will ensure that everything is considered so that
the process is simple.
