Homeowners looking to save on realtor commissions by selling their own home can with a flat-fee Multiple Listing Service agency like ISoldMyHouse.com to gain more visibility for their property. We break down what is — and isn’t — included and how it affects your profits.
Sellers listing their homes on the market want the same thing: serious buyers. Multiple Listing Services (MLS) are one of the best ways to reach prospective buyers.
A seller working without a listing agent will need a flat-fee broker to list their home on a MLS. ISoldMyHouse.com offers that service for savvy homeowners, who are comfortable managing the other details of a home sale.
Flat-fee listing services are limited in what they provide. Clever can provide the benefits of a full-service agent while also saving you money with closing costs. “Reach for no-commitment advice.
In the meantime, here is a breakdown of how ISoldMyHouse.com works so you can determine if it is the right fit for you.
What is ISoldMyHouse.com?
Established in 1997, ISoldMyHouse.com offers online support for FSBO — For Sale By Owner — homeowners. As a licensed flat-fee multiple listing service broker operating in all 50 states, they provide homeowners with a six-month listing on local MLS and other real estate websites — such as Zillow, Trulia and Realtor.com — in exchange for a flat fee. MLS plans run for six months and can be canceled at any time without a refund. The contract allows homeowners to make as many changes to their listing as needed during that time without paying an additional fee.
The website also provides how-to guides, checklist, product recommendations and other resources to support FSBO sellers.
What is Get LISTED Realty?
Get LISTED Realty provides licensed real estate services forISoldMyHouse.com customers. They have direct real estate licenses in Connecticut, New York, Main, Massachusetts, New Hampshire, Rhode Island and Vermont as well as broker to broker partner agreements in the remaining 50 states.
How does ISoldMyHouse.com work?
- Click “Get Started” on the ISoldMyHouse.com website and select your state and your preferred listing plan — Get LISTED or Get SOLD, depending on how many photos you would like to include.
- After purchasing a plan, you will complete the information needed for your MLS listing. This will include everything from the home’s square footage and your asking price. Depending on which plan you purchased, you will be able to upload six or 25 images to include with your post.
- Once you have completed this step, your home will be listed on the MLS in your local market. It will also be syndicated on real estate websites, including Realtor.com, Trulia, and Zillow as well as major real estate agent websites, such as Century 21, Coldwell Banker and Century 21. You can expect to see our home listed on these platforms within one day.
- Homeowners are responsible for coordinating open houses, viewings and marketing as well as managing bids, negotiations and closing throughout the home sale process.
- Under the terms of the contract, homeowners are required to update their MLS listing within one business day of accepting an offer or closing on a home. MLS rules require listings to be updated within this timeframe otherwise you could be charged a fee.
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What is flat-fee MLS?
A flat-fee MLS service offers FSBO homeowners a way to have their home included on the MLS for their local market. MLS are used by real estate agents to share property information with prospective buyers. These listings include information made available to the public — such as asking price, square footage and a property description — along with private details available only to realtors — including how to contact the seller to arrange listings.
While real estate websites like Zillow and Triluia attract casual readers, the people who access MLS are serious buyers — the audience you most want to reach. Only licensed realtors and brokers are able to upload information to and access full information from MLS. In exchange for a flat-fee, homeowners can have their listing added to a MLS without having to hire a full-service agent.
Does ISoldMyHouse.com charge a fee?
ISoldMyHouse.com charges fees for its listing services as well as additional costs for ala carte bonus features. A basically listing — known as its “Get LISTED” plan costs $299. It includes a six-month MLS listing, access to Sellers Information Library, 24/7 listing management and six photos with the listing. For an additional $100, the “Get SOLD” plan allows homeowners to include up to 25 photos with their listing.
Additional upgraded services include:
- A one-month featured ad on the ISoldMyHouse.com homepage and the sidebar on the home search list for $25
- A professional realtors combination lockbox for storing a spare set of keys for real estate agents to use during viewings for $50
- Custom-printed “for sale” yard signs are available for $75 or two for $140
ISoldMyHoue.com also offers Full-service representation. Homeowners interested in this option should contact the website for more information.
Homeowners are also expected to pay a commission fee to the buyer’s agent upon closing. These fees are negotiable, but industry averages vary between 2.5% and 3% of the total home sale price.
Where is ISoldMyHouse.com available?
ISoldMyHouse.com is a licensed MLS broker that is available in all 50 states and Washington, D.C.
Pros and Cons of ISoldMyHouse.com
By representing yourself as the seller, you can avoid paying the 2.5-3% commission that typically goes to listing agents. If your home sells for $200,000, you would save $5,000-$6,000 in closing costs.
Sellers using ISoldMyHouse.com — and other flat-fee MLS companies — are responsible for marketing efforts that go beyond these listings. Homeowners must take their own photos, create flyers and build ads and posts on social media. If you are not savvy with marketing, this may be a daunting task.
FSBO sellers are responsible for coordinating viewings with prospective buyers and their agents. They will also handle their own negotiations during offers and the final sale. If a seller doesn’t have experience, they may end up needing to retain a lawyer to help, which is an additional expense.
While saving on commissions, you may end up leaving some money on the table in the sale. According to the National Association of Realtors, homes sold by a full-service realtor went for $265,500 on average while FSBO averaged $200,000.
There are a limited number of reviews for ISoldMyHouse.com available on independent websites. The reviews posted in 2019 are generally favorable, with customers reporting that their homes received interest from buyers. Other customers said they received excellent support from Get LISTED Realty, the affiliated brokerage firm.
Alternatives to ISoldMyHouse.com
In addition to ISoldMyHouse.com, there are popular real estate websites that offer support for FSBO sellers looking to attract local attention
Zillow is free to use and allows you to easily manage your property listing from any device. It also gives you a Zestimate for your property, which is an estimated market value using their proprietary formula.
Through Trulia, a buyer can search for homes in a preferred region anywhere in the U.S. and be sorted by home features, popularity and other categories. As a seller, this allows you to highlight qualities that will set your listing apart from the rest.
FSBO.com is a well-known global site that connects FSBO buyers and sellers. Sellers can choose from two packages. The first package is $99.95 for 12 months and includes unlimited photos and a video. The second package is an MLS package, which lists the house on the MLS, Zillow, Redfin, and Realtor.com for six months for $399.95. The six-month option also comes with a realtor’s commission, which is usually an additional 2% of the sale price.
For Sale By Owner enables offers a free 14-day trial. After that, packages are $99 per month or one-time fees of $349 or $499. These packages include unlimited photos, yard signs, and customized brochures. The $499 package includes listing your property on MLS, which will reach more serious buyers
If you are in the market to sell your home and want to save money on realtor commissions without giving up the support of a full service agent, you can connect with a local expert for a free consultation.
Clever Partner Agents are top-rated real estate agents from major brands — like Century 21 or Keller Williams. Experts in their local markets, they can get you the best deal on your house without breaking the bank. They offer the same full service as other agents while working for a flat fee of $3,000, or 1% if your home sells for more than $350,000. You get the same quality of service and more money in the bank.
Contact Clever to learn more and get connected with a top, local Partner Agent who can help you get the best price for your home while leaving more money in your pocket.
FAQs About ISoldMyHouse.com
How do I list my house on my own?
To list a property on an MLS with ISoldMyHouse.com, you will need all owners of the property to sign the listing agreement and one of the homeowners to complete and submit the property information form. All forms must be completed to be compliant with federal and state laws and MLS rules and regulations.
When submitting the listing, you will need to choose a price. To get the best possible price for your home, and maximize your profit, you will want to do your research. Look for comparable listings in your market and see what prices are selling. All listings require at least one photo as well.
How do you write up a house for sale?
Having a compelling listing description is an essential part of an MLS listing. When crafting your own write up of a house for sale, there are a few best practices to follow.
The most important part of any description: be accurate. While it may be tempting to describe a fixer upper as being in “good condition,” you will put off prospective buyers with the dishonesty. Instead, own up to any shortcomings and find a way to make them positive. That fixer upper can also be called a “DIY-er’s dream.” At the same time, choose your adjectives wisely. If you use too many, it may be distracting to readers. Some words like “cozy” or “charming” might also raise red flags for buyers, so use them sparingly.
Be sure to point out your home’s best features. If your master bath has a tub with a jet or your living room has a stone fireplace, play up these elements that give the home character. Keep the buyers in mind and think about what will most appeal to them.
And remember that when it comes to a good listing, brevity is beautiful. Prospective buyers look through dozens — if not hundreds — of listings. They will appreciate it if you get to the point quickly.
What documents are needed to sell a house by owner?
When preparing a home for sale, you — as the owner — will need a number of documents. These include:
- Title report
- Mortgage loan information
- Final purchase and sale agreement
You should also have property tax information — including your most recent tax statement — homeowners insurance information and any other documentation related to your property.
ISoldMyHouse.com has additional forms available for download after signing up for one of their listing plans.