Home->Selling->Finding Your Buyers

Finding Your Buyers

Placing your home for sale is the easiest part of the home-selling process. The most difficult job you will have is locating someone who is ready, willing, and financially able to purchase your home.

When a property is listed by a licensed REALTOR® in Rapid City, South Dakota, the owner will have a choice of whether or not they want their property listed in the Multiple Listing Service.

Below are some pros and cons of listing your property in the Multiple Listing Service:

PROS:

  • There are approximately 350 REALTORS in Rapid City, SD who will have immediate access to pictures and details of your home. Depending on the skill and work-ethic of your agent, detailed property flyers will also be distributed to each REALTOR's personal mailbox. This will keep your property in "top of the mind" awareness if the agents have buyers who have been searching for properties like yours!
  • Homes listed in the Multiple Listing Service can be seen by buyers worldwide on the National Association of Realtor's website: www.realtor.com The popularity of our local Air Force Base brings hundreds of new individuals and families to our area each year, many of whom search for homes on the Internet while stationed in countries all over the world.
  • REALTORS typically are more upfront with prospective buyers about the buyer's financial credibility and will help owners avoid the agony of losing a deal because of poor credit or other financial complications.

CONS:

  • Higher commission rates. In order for the other 350 REALTORS to bring their buyers to your home, they will want to get some sort of payment to compensate them for the hours they have spent with their buyers showing properties. In our area, the typical commission given to the buyer's agent (paid by the seller) is 3%. The other 3-4% will go to the Seller's agent to cover the costs of listing and advertising the home for sale, in addition to negotiating and coordinating a smooth, hassle-free closing.

What are your options if you don't want to pay 6% (or more) to sell your property?

For Sale By Owner: (FSBO - pronounced "FizzBo") Click here to see the steps you will need to take in selling your own home.

FSBO + 3%: If you prefer the FSBO option but don't want to hassle with buyers knocking on your door and the legal documentation that accompanies selling a home, I can exclusively list your home, create flyers, meet with buyers, and advertise your home on my website - which averages almost 1000 visits per week from buyers and sellers across the world - all for only a 3% commission. With this option, you can save 3% but you may lose some buyers who are working with other REALTORS.

Full MLS Listing (6%): With this option, your property will be seen by thousands more potential buyers and will even be a "Featured Listing" on the nationwide REALTOR website: www.realtor.com. Every REALTOR will willingly bring their buyers to your home and you will have the added benefit of advertising your home in the MLS publications: Home & Business Illustrated and Open House Illustrated.