Technology

Homeowners can now sell on MLS for no listing fee

USRealty.com's free FSBO product could entice more sellers to test the market
  • USRealty.com, headed by the founder of ForSaleByOwner, has provided a way for homeowners to list on the MLS and sell their homes for free.
  • The free product aims to "upsell" paid products to homeowners who use the the firm's free MLS listing option.
  • Despite a recent flood of new FSBO services, NAR data suggests demand for FSBO services remains low and may have even decreased.

What if joe-six-pack could market a home to the full universe of potential buyers and sell his property without spending a dime on listing fees? Well, now he can. USRealty.com, whose CEO previously founded and sold one of the most popular for-sale-by-owner (FSBO) websites, is now offering MLS listings to sellers in dozens of states for no upfront cost or fees upon closing. The business model -- how can free MLS listings make money? Offering few services beyond MLS placement, the product is crafted to get customers in the door so USRealty.com can "upsell" additional services. But if nothing else, it provides an attractive way for sellers to test the market without dropping any dough, with the option to buy services (or not) if they decide to go all in. While sellers who use USRealty.com's free product don't have to pay anything to the company, they still must offer a minimum amount of compensation to buyer's brokers. Part of why USRealty.com can offer f...