Seller FAQs

An MLS is a database where agents pool together their listings. An MLS provides a listing agent the ability to offer compensation to buyer agents. If any buyer agent brings a buyer who purchases the property offered by the listing agent, then that buyer agent is entitled to the compensation offered by the listing agent on the MLS.
Yes, there are hundreds of MLS's in the United States. Each MLS has its own rules, database, and members.
Yes, absolutely. You nearly always want to list your property on the MLS that covers your local area. One of the primary purposes of the MLS is that it allows a listing agent to make an offer of compensation to the members of that MLS. Local agents typically will not show your property unless there is an offer of compensation in place on the MLS in which they are a member.
12 month listing on the local MLS, unlimited photos, cancel for free anytime, 10 free changes (after that, $5 per change). Check out our page here for more info.
Yes, you decide how much commission you want to offer buyer agents. Most MLSs require a minimum of $1. It is recommended that you offer a similar amount as other listings in a similar price range (typically 2.5% - 3.0%). homecoin.com NEVER collects a commission and does not represent buyers.
We place your contact information in the private remarks of the MLS (only agents see these). In the vast majority of cases (90%+), buyer agents will read this and contact you at the phone number or email address you provide to us. Occasionally, a buyer will contact us directly (most often via email), in which case we forward you the lead. If the buyer contacts us via phone, we ask them to email their info and we simply forward that to you (we want a written record so there is no confusion by anyone). Note that we do not represent buyers unless you ask us to. We want you to sell your home without paying any commissions at all.
MLS rules prohibit any agent from placing the contact information of the seller in any public facing field on the MLS (they do this to protect the agents). We will place your contact information in the private remarks of the MLS (only agents see these). In the vast majority of cases (90%+) agents will read this and contact you, on occasion a buyer will contact us directly, in which case we forward the lead to you. Note that we do not represent buyers unless you ask us to. We want you to sell your home without paying any commissions at all.
Yes, included with each listing is syndication to all the major websites, including Realtor.com, redfin, zillow, trulia, re/max, century21, and many more. You may also choose not to send your listing to these sites (not recommended).
No. Some websites get you to list through them and then send the listing to a broker in your area, who then emails you a listing agreement and all the actual MLS forms to complete. We DO NOT do this. On homecoin, you select the agent that completes your listing and you complete all the correct forms and listing agreement on our website. No slow, offline, funny business.
For sale by owner (FSBO) means that you are not working with agents whatsoever, in any capacity. Only a real estate agent can list a property for a flat fee on the MLS, so you are technically no longer considered FSBO since you paid the flat fee to have the property listed.

FSBO (not working with agents at all) is typically not successful because nearly 90% of buyers have an agent and that agent will only show your property if you are offering a commission through the MLS. Flat fee MLS solves that problem while still giving the seller a cost savings from not using a commission based listing agent. In addition, the seller may find a buyer who does not have an agent which allows them to effectively pay zero commission (except the original flat fee paid).
An MLS listing goes directly onto the MLS and involves a seller and a real estate agent (the listing agent). A primary purpose of homecoin is to facilitate the process of listing on the MLS for sellers and agents.

We also offer the FSBO listing, which is free and goes onto the homecoin website. The FSBO listing gives you a free website address (e.g. homecoin.com/12345) that you can put on marketing materials or post to social media so buyers can contact you directly.
Yes! You can cancel your MLS listing for free at any time - see our listing agreement in the footer of the website for all the details. You can also choose to hire an outside agent at any time help you. We don't want to constrain your sale in any way.
The #1 reason for homeowners failing to sell is due to overestimating the value of their home, something that is far too common. Real estate agents add to the problem, as they often tell sellers their home is worth more than it really is, just to get the listing - this is called buying a listing.

The key to a successful home sale is pricing your home at what it is worth, based on other similar homes in the area that have recently sold - this is exactly the data you get in our real estate comps package. The first two weeks your home is on the market are critical, as that is when your home gets the most attention. Dropping the price later doesn't always work, as you lose the eyeballs that you get with a new listing. Price right with our comps report.
Buyer's agents will try to grind you down on the price in order to get their buyer a better deal. If you are armed with the facts found in our comps report, you will be confident in your pricing and be able to educate the agents on the home value.

Listing agents will try to get you excited by telling you the value of your home is higher than you think. The truth is, if you are doing the other basic things right (pro photos, MLS listing), then the value of the home is set by the market and listing agents are just pulling your leg.

By having the real estate comps report we provide, agents won’t be able to take advantage of you.
We use the characteristics of your home, such as the bedrooms, bathrooms, and square footage, to find similar homes within a half mile that have sold within the last 6 months. If there are not enough results, we will modify the parameters a bit. If we cannot get you solid data, we will not accept the order and there is no charge.

You will typically get between 5-20 comparable sales results. In areas with many homes (suburban, urban), the data is crucial. The additional reports included are perfect to aid in your MLS listing or add to your marketing materials so buyers can easily understand the property and area.
Yes. Real estate agents use the exact same data and reporting to figure out how to price their client's homes.

The reports we provide are not available to those who are not members of the local MLS and are not able to spend the time and money to compile tax records.
The information comes from a combination of MLS data and tax records. We have access to tools that aggregate the tax data so you can have a clear picture of what has sold recently.

Most sales occur through the MLS, and that gives us some additional reports that make it easy to understand how the market is trending.
Simply sign up, add a property, and select “Real Estate Comps”. No need to buy anything else.

We think real estate commissions are a rip-off. We've found that selling a home is simple if you have the right tools and they are fast and easy to use. We have helped hundreds of home sellers save millions in commission costs.