Tuesday, June 28, 2011

The Pros and Cons of Selling Your Land on the MLS

If you’re looking for a distressed property solution and you want to sell your land fast, it’s best to consider the pros and cons of listing your property on the Multiple Listing System (MLS) before taking that step. The MLS is widely used by brokers and real estate agents as a means to list and retrieve information on properties that are available for sale.
The pros for choosing this method include gaining a wide audience of both professionals and consumers that are looking to purchase property, your real estate agent will work for you and negotiate for you (you’ll not have be in direct contact with any buyers), and you’ll gain knowledge and experience as your real estate agent explains the ins and out, up and downs of the market as it pertains to your property.
Sounds great, right? Well, recently, the cons for choosing this method have grown to outweigh the pros as the economic downturn experienced by many has created a need for easy, fast cash. For example, hiring a real estate agent means just that—you’ll have to spend money to pay out a commission when your goal is to increase your finances and not decrease them. Using the MLS may have the potential for a broad audience; however, most people use it to look for residential and commercial buildings –you could be waiting several months before a buyer becomes interested in your land. And, lastly, using the MLS will not eliminate the other expenses that you will incur but will increase them in fees and closing costs.
A better solution for the selling of your land would be to use a private land investor. A private land investor, like Lucas Properties, LLC will evaluate your land and offer you a percentage of the fair market value. This is beneficial because the wait time to receive payment from selling your land in this manner is about seven days’ time. Additionally, you would not have to pay a commission to anyone. In fact, your fees, closing costs, property taxes, and liens would be paid for you—all on your behalf. The only thing that you would be left to be responsible for is to enjoy your profit.

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