The Mere Posting
To learn how to list your home on MLS® without typical REALTOR® commissions in Canada lets talk about Mere Postings. In 2010 Canadian real estate took a giant leap forward. Canadian Competition Bureau pressure finally prompted the real estate industry to allow brokerages to offer individual services for transparent fees, which created the Mere Posting.
The Mere Posting is simply a listing on MLS® System (Realtor.ca) for a flat fee with no other services attached.
Local real estate boards across Canada operate the Multiple Listing Service (MLS®) cooperative databases. On Vancouver Island the Vancouver Island (VIREB) and Victoria (VREB) Real Estate Boards maintain the MLS® database. The Canadian Real Estate Association (CREA) owns Realtor.ca and displays listings from all the local real estate boards across Canada. Only agents who are REALTOR® Members of the local real estate boards can submit new listings to the MLS® database.
Most traditional brokerages will not provide a home seller with just a Mere Posting because of the structure of the brokerages; however, there are a few new brokerages that will do this at very reasonable rates. Mere Postings allow homeowners to get great exposure through real estate board MLS® Systems and REALTOR.ca but without having to pay the typical real estate commissions.
In the Comox Valley and North Vancouver Island, PropertyGuys.com, through their VIREB brokerage partners, can provide homeowners with a Mere Posting and also additional services à la carte.
How to List on MLS® Without a Traditional REALTOR®
If you choose to by-pass traditional real estate, you are joining a growing number of homeowners who want to by-pass high agent commissions, which can be as much as a new car. If you by-pass traditional brokerages, your sale is considered private, or For Sale By Owner (FSBO).
Time needed: 2 days.
Let’s learn how to list your home on MLS® without a realtor in Canada.
- Determine what services you want/need for your home sale.
As discussed, there are a few companies which now will deliver individual services, such as Mere Postings, but what other services do you need? For instance, think about if you would also like:
Local Help: A dedicated local representative to help you through the process and answer all your questions.
Platform: Do you want the following functionality out of the home sale platform
a) manage your listing, such as price changes, description updates, etc. b) See your listing statistics
c) Share your listings on social media
d) Tools to receive Offers
e) Messaging System handling showings according to your preference and availability.
Visibility: Omni-channel approach, as many ways you can show buyers your home.
a) Professional Lawn Signs
b) Professional Photography, including virtual tours. Most buyers look for homes on their own online; they will narrow down the homes they want to see, and they will choose the homes most appealing to them to see. It is incredibly important to have great photos.
c) Floor Plan
e) Drone Videos
d) Online promotion on to make sure your home is posted where buyers are looking, such as Facebook, Kijiji, Instagram, PropertyGuys.com, Craigslist, Used.ca, and third party MLS® listing publishers such as point2homes.com, etc.
e) Local Newspaper
Support: Services to help make the home sale process easier.
a) Professional legal assistance
b) Professional answering service managing your calls, and booking your showings
c) Certified appraisal & pricing blueprint. Pricing your home right will not only ensure your home sells but will ensure you get the most amount of money for your home.
d) Provide a real estate lockbox service for showings with buyer agents.
- Find out the companies that not only can provide you with a Mere Posting but also the additional services you may need within the budget you need.
- Decide which company best suits your needs at the price you are willing to pay.
With these services, rates are not tied to your home value; rather they are linked to the value of the service provided. Typically they will still be just a fraction of the cost of a traditional real estate agent.
Why is the MLS® System Important to a FSBO?
Exposure. In Canada, for the moment, Realtor.ca (which displays the listings from the MLS® database) is the most trafficked real estate site by home buyers.
To sell your home, you need three things; product (i.e., your home), asking the market price for your home, and of course promotion (i.e., getting as many potential buyers aware of your home as possible). Ensuring that your home is on Realtor.ca goes a long way in the promotion of your home.
There are several other websites where people can sell their homes by listing on these websites, but the majority of people looking to buy homes still look on Realtor.ca.
Realtor.ca does have some large competitors, but all competitors pull listings from the MLS® like Realtor.ca, so for now and in the foreseeable future, being on the MLS® system is a significant benefit to a home seller.
I hope this has helped show you how to list your home on MLS® without a realtor in Canada.