The general public doesn’t know different designated MLS areas can exist within mere feet of their property. Shouldn’t they be able to trust the licensed individual pitching them for their listing to tell them whether or not their property will be marketed to the local agents most likely to sell it?
Listing property for sale is a perplexing and puzzling process for most consumers. Interviewing agents can be intimidating and exhausting. People look to licensed agents to help them price their property competitively, market it creatively and aggressively, help them navigate through the closing process and above all be honest with them.
It’s a reflection of the current economic climate that there are fewer real estate agents in the business out to make the slam dunk sale. In my opinion the reputation of real estate agents has improved. We go stark raving mad when we see agents harm sellers by listing outside of their “natural” MLS and not warning the sellers that local agents will never see their houses.
Two specific instances come to mind. A local seller approached us a year ago via a referral entity to consult with them on their listing. It had been listed for more than FOUR years with an agent in a neighboring, non-reciprocal MLS. The seller was shocked to find out that for all of this time there was NO LOCAL PRESENCE of her listing to the LOCAL AGENTS! Since she had formulated a “friendship” with this agent he persuaded her to stay with him. Last month we received an invitation to attend an Auction of this property and we’ve since learned the property did not sell because the reserve could not be met. Stigmatize much?
The other instance involved a house just inside our county line listed for 441 days with an agent outside our MLS. The seller stopped by our office to talk about us listing it when the current listing expired. I visited the house and sat with the clients to analyze the needs of the sellers. Turns out right now the highest and best use of the house is probably NOT to be for sale, but it would have made sense 441 days ago to be visible to the local MLS agents! How much time, hopes and money was wasted by not listing locally?
A Buyer’s Agent from outside our MLS but familiar and confident with this area is welcomed with open arms and I’ll do whatever is needed to help. However, a listing agent taking a property for sale outside their MLS is not doing anyone any favors. What is the matter with them that they don’t consider co-listing with or referring to a local agent?
Sellers would be horrified to learn they aren’t getting the maximum exposure for their listing by not advertising to local agents. So…sellers, be sure to include the following question in your agent interview…are you a member of my local MLS and how will you market my property to local agents?
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