What Is An Entry Only Listing?

Introduction

Are you a homeowner looking to sell your property without having to pay hefty real estate agent commissions? Or are you a buyer searching for homes directly from sellers? If so, you may have come across the term “entry only listing.” In this article, we will delve into what an entry only listing is, how it works, and the benefits it offers for both sellers and buyers.

What is an Entry Only Listing?

An entry only listing, also known as a flat fee MLS listing, is a type of real estate listing service that allows homeowners to list their properties on the Multiple Listing Service (MLS) without hiring a traditional real estate agent. With an entry only listing, sellers pay a one-time flat fee to have their property listed on the MLS, giving them exposure to a wide range of potential buyers.

How Does it Work?

The process of listing a property as an entry only listing typically involves the following steps:

1. Finding a reputable entry only listing service provider.

2. Paying the flat fee to the listing service provider.

3. Providing all the necessary information about the property, including photos, description, and relevant details.

4. The listing service provider then lists the property on the MLS, making it available to real estate agents and potential buyers.

5. Sellers handle all inquiries, showings, and negotiations directly with interested parties.

6. If a buyer is found through the MLS, the seller pays a commission to the buyer’s agent, typically around 2-3% of the sale price.

7. The seller is responsible for managing all paperwork and closing the sale.

The Benefits of an Entry Only Listing

There are several advantages to choosing an entry only listing for sellers:

1. Cost Savings: By opting for an entry only listing, sellers can save thousands of dollars in real estate agent commissions.

2. Control and Flexibility: Sellers have complete control over the selling process, including setting the price, negotiating offers, and managing showings.

3. Maximum Exposure: Listing a property on the MLS ensures maximum exposure to a wide range of potential buyers, including real estate agents and buyers searching online platforms.

For buyers, an entry only listing offers the following benefits:

1. Access to More Inventory: Buyers can access a broader range of properties listed on the MLS, including those not listed on popular online platforms.

2. Direct Communication with Sellers: Buyers can directly communicate with sellers, allowing for a smoother and more personalized buying experience.

3. Potential Cost Savings: As entry only listings often have lower commission fees, buyers may have the opportunity to negotiate a better deal on the purchase price.

Conclusion

An entry only listing provides a unique opportunity for homeowners to sell their properties without the need for a traditional real estate agent. By understanding the process and benefits of an entry only listing, sellers and buyers can make informed decisions that align with their goals and preferences. Whether you are looking to sell or buy a property, exploring the option of an entry only listing can be a game-changer in your real estate journey.