Fact or Fiction?

A seller can advertise on MLS and do most of the work involved with listing a home themself.

Fact

*This service is a limited services agreement, which is sometimes called a “mere posting.” That’s when a brokerage arranges for the property to be posted on the Multiple Listing Service (MLS), but limits other services traditionally associated with working with a real estate brokerage.

*That is when a brokerage arranges for the property to be posted on the Multiple Listing Service (MLS), but limits other services traditionally associated with working with a real estate brokerage.

*Apart from the services the seller wishes to receive from the brokerage, the other aspects of the sale, such as setting a sales price, handling appointments for prospective buyers, hosting open houses, negotiating with buyers, reviewing offers (including any conditions that may be involved) and dealing with the paperwork would likely, depending on the agreement with the brokerage, be handled directly by the seller.

*If the brokerage just posts the listing on the MLS, they still have obligations. In the interest of fairness, honesty and integrity, the brokerage providing the mere posting service is required to ensure that the contents of the listing are accurate and are not misleading or deceptive. For example, you can expect the brokerage to confirm the seller’s claims about renovations, square footage or municipal taxes that appear on the MLS system. Of course, a prospective buyer should take steps to satisfy themselves that the information is accurate.