I just had a conversation with a real estate agent who just listed a property as “entry only” listing on MLS. This agent thinks that “entry only” MLS listings will be on the rise in the near future.
An “entry only” listing is when an agent lists a property on MLS for a minimum charge of $100 – $300. The MLS listing instructions inform the buyers agent to bypass the listing agent and call the owner or a key arrangement is made so the buyers agent can gain access to the property on his/her own. The benefit for the seller is a reduced broker fee of 2-3% as opposed to paying 4-6% when two agents are involved.
As of today, 2,126 Boston condos are for sale on MLS of which 67 are “entry only” listings. What are your thoughts, do you think “entry only” listings will gain popularity?