First, let me state that I know of many top-notch discount real estate agencies, such as CondoDomain.com, that have ads that are very trustworthy. However, some discount agencies, I’m beginning to question their real estate advertisements. Here’s one that comes to mind:
ISoldMyHouse.com MA real estate ad:
“With no real estate commission to pay, the money you save can go into the purchase of your next house…We offer real estate for sale by owner placement on our website, yard signs, MLS entry for our Massachusetts sellers, virtual tours, and much more.”
The way I interpret this ad from ISoldMyHouse.com is that they can list your property for sale on MLS for the seller, “with no real estate commission to pay.” However, according to MLS rules and regulations, with any property listed on MLS, the listing office must compensate the buyer’s agent a commission. If ISoldMyHouse.com co-brokes their MLS listing with a buyer’s agent, they will be required to pay the buyer’s agent a commission. Guess whose pocket that’s coming from?
Second point, I checked MLS to see how many properties are listed for sale in Boston with ISoldMyHouse.com. The answer: zero. To the best of my knowledge, the company ISoldMyHouse.com isn’t even a member of MLS. So this begs the question: Is the above link to ISoldMyHouse.com a misleading advertisement?