When searching for or planning to sell a home, agents use a local MLS to help their clients. The platform levels the playing field between all types of professionals, making the listing accessible to buyers’ agents in the area. When selling your Malibu real estate, here’s why it’s worth placing your home on the MLS. But first, here’s what to know about the local real estate market as a seller.
Cities across Los Angeles County are experiencing cooling trends. This is evident in decreasing home sales and median prices recorded in December 2022. In Malibu, currently per the MLS the median sold price for single family homes (1/1/23 - present) is $4,327,277. Homes average 95 days on the market. Pacific Palisades' sales prices have increased by 14.3%, while days on market have increased by 115.38%. Listing on the MLS with an experienced agent can help sellers combat slowing trends.
Even though the general public can’t access the MLS, they do search on other internet platforms. All these internet platforms are fed by a local MLS. Many public internet platforms may only show listings that are on the MLS. This means the only way to make your home listing accessible to the public is to put it on the MLS because an MLS listing boosts your property, so it’s visible to multiple different people at once.
Larger buyer pool
Additionally, the type of buyer who finds your listing will likely be different. Buyers’ agents who show their clients listings are usually working with a person who is qualified to purchase a property. Making your home visible to serious buyers increases the chances of an offer. This is good news for sellers interested in a speedy sale. Currently, Los Angeles County areas like Pacific Palisades and Malibu are experiencing longer days on the market for listings. Placing your home on the MLS can help mitigate current trends.
Level of accuracy
A home listing will also be checked for specific details in the description. These include its square footage, location, and more. Listings must be submitted within a certain time frame as well. This helps keep a level of accuracy and recency. With rigorous regulations, buyers making a search online can count on listings to be accurate portrayals of properties. This gives them more confidence to pursue a listing and consider a purchase.
A professional network
When listing on the MLS, sellers tap into a widespread real estate professional network of agents in the area. The MLS was created on the foundation of collaboration. As such, agents for buyers and sellers have more to gain when they work together. This creates a motivated group of real estate individuals working in your better interests. Sellers will feel the effects of this in the speed and number of offers they receive.
Another perk of the MLS for sellers listing their Malibu real estate is that it regulates competition. As stated previously, any licensed professional, large or small, can access the MLS. No matter who you partner with, a seller who works with an agent has the same access to MLS perks as another seller. This means sellers can work with an agent that best aligns with their real estate goals and personality.
Saves time and money
With the positive forces above working in tandem, sellers can save a lot of time listing on the MLS. Greater exposure means that more buyers can view your property. This increases your chances of finding the right buyer for your home. Tapping into a larger and more qualified buyer pool also speeds up the chances of receiving an offer. When multiple agents have access to your listing, you receive the assistance of their combined real estate experience. This is an invaluable asset to sellers.
The process of saving time often results in large gains for those selling Pacific Palisades homes. In California, selling a home costs an average of 9.66% of the property’s final sale price. Properties that linger on the market experience fewer overall profits. This is because buyers are less interested in older listings. To sell a lingering listing, sellers may have to drop the original listing price. A home seller will also save costs in extra marketing and preparation needed for a longer home sale.