Why not just advertise my home “For Sale by Owner” in the newspaper, and forget the realtor MLS listing?
Most people responding to newspaper ads are not yet really serious about buying a home. They are still in the dreaming or just kicking the tires stage of home buying. Once a buyer gets serious, over 80% of the time he or she will hire a realtor, and that realtor will show the buyer homes that are listed on the realtor MLS.
Nothing is wrong with advertising a property in a local paper, but you better not be in too much of a hurry to sell! The MLS opens the door to so many other potential home buyers. Home buyers from outside of your immediate area are almost always going to go to Realtor.com, Homes.com, etc. to search for homes. If your ad is for sale by owner and not listed on the MLS, it will not be seen by these buyers. You truly are limiting your ability to reach the large majority of potential buyers for your home. Yes, you save the agent fees in doing for sale by owner, but in my opinion it is not worth it. Contract with an agent and build their fees into your asking pricing. Your home will sell more quickly and you will have less hassle!
