Avoid These 3 MLS Mistakes

Louisiana REALTORS • March 6, 2019

The MLS is a powerful tool and critical resource when it comes to selling a home.  The Multiple Listing Service is accessible between listing brokers and other real estate brokers as a private offer of cooperation and compensation.  Essentially if you are putting your house for sale, the MLS is the best tool to make it as visible as possible to buyers .  The MLS, just like with most things, is best leveraged if you work with a knowledgeable and professional REALTOR® and pay a little extra attention to how your property is represented.  While the layout featuring the address, price, photos, and a brief description is pretty simple, there are some common mistakes that can be easily avoided.  These mistakes can be costly in terms of time and money.

Too Much Ordinary Text in Your Listing Description

While the description of the property is an important element in any listing, it’s more important to entice a potential buyer to consider it, rather than listing each and every detail. Instead of providing a robust explanation of the home, offer a concise, well-crafted depiction that makes potential buyers want to come to see for themselves. The old saying a picture is worth a thousand words has never been truer than it is in the MLS.

Too Few Pictures

Not including enough pictures puts your listing at a severe disadvantage.  In the world of Facebook and HGTV, consumers are craving attention getting visual material more than ever before. This is especially true for the way that people shop for homes.  While it’s crucial to include enough pictures, the quality of the pictures is tantamount to a successful sale.  A prospective buyer’s first impression should not be a poorly lit, grainy image.  Listings with professional pictures tend to close faster and for more money, so this is a minimal investment but an easy and important one.

Missing the Mark on Price

At the end of the day, it ultimately comes down to whether the property is properly priced.  The experience and expertise of a knowledgeable and professional REALTOR® is an important resource when it comes to determining an accurate asking price.  Setting the dollar amount too low can leave a lot of money on the table, setting it too high can leave the home on the market too long.  Basing the price off market conditions, and managing expectations are two top tasks that your REALTOR® should provide. 

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From the Louisiana Department of Insurance: During a press conference today with Governor Jeff Landry, Insurance Commissioner Tim Temple announced that registration for the next round of the Louisiana Fortify Homes Program (LFHP) will open at 8 a.m. on Monday, June 1, and will include 3,000 grants. The registration period for this lottery will be open for three weeks, closing at 5 p.m. on Friday, June 19.  During the press conference, Gov. Landry signed HB 1187 by Rep. Paul Sawyer, which will allow Louisiana Citizens Property Insurance Corporation to transfer $50 million in additional Katrina bond assessment funds to the LFHP. Combined with the $30 million in funding the program will receive through taxes and fees on insurance entities, the LFHP will receive a total of $80 million this year. “By lowering overall losses, we can reduce insurance and reinsurance costs, draw more insurers into the market, motivate existing companies to write additional policies and lower insurance premiums,” said Commissioner Temple. “That is exactly what the Louisiana Fortify Homes Program is designed to do.” The list of coastal parishes that are eligible to participate is expanding to include Acadia, Jefferson Davis and Lafayette parishes. Additionally, homeowners who live in the portions of Ascension, Calcasieu, Iberia, Livingston, St. Martin, St. Tammany, Tangipahoa and Vermilion parishes that were previously not included in the program will now be eligible to participate. A map showing the full list of eligible parishes is available on FortifyHomes.La.Gov . “Louisiana is the fastest growing state in the country for Fortified roofs, and that growth is not by accident—it is the result of strong support from Governor Landry and legislators like Chairman Talbot, Chairman Firment and Representative Sawyer, targeted program design, and a clear recognition that strengthening homes is one of the most effective ways to reduce insurance losses,” said Commissioner Temple. “At the end of the day, this program is about more than just roofs. It is about protecting families, it is about strengthening communities, and it is about putting Louisiana in a stronger position—both physically and economically—to face the challenges ahead.” To participate in the lottery, homeowners must register during the June registration period. Homeowners who registered for a previous round but were not selected must register again to participate. People who register on the last day of the registration period have the same chance of being selected as those who register on the first day, so there is no need to rush to register as soon as the period opens. When registering, homeowners will need to upload their homestead exemption, insurance policy declarations page that includes wind coverage, and flood insurance declarations page if the residence is in a flood zone. Homeowners who need assistance obtaining a copy of their homestead exemption should contact their parish tax assessor. Homeowners can contact their homeowners and flood insurance companies or agents for a copy of their policy declarations page. Homeowners are required to create a profile in the LFHP system before registering for the lottery and may do so by visiting the LFHP website and clicking the Login button. Homeowners who previously created a profile may use the same one for this and future rounds. Once the lottery registration period closes, the LFHP will randomly select 3,000 participants and send email notifications to registrants about whether they were selected to participate. These selection notices will be sent via email beginning on Monday, June 22. There are several program requirements that homeowners should be aware of before registering. Those interested in the program are encouraged to review eligibility information and frequently asked questions at FortifyHomes.La.Gov to determine whether their home meets the requirements for the program. If selected to participate in the grant program, homeowners will be financially responsible for having the home evaluated by a FORTIFIED-certified Evaluator as well as costs for the roof upgrade including permits, inspections and construction costs beyond the amount of the grant The LFHP provides grants of up to $10,000 for homeowners to upgrade their roofs to standards set by the Insurance Institute for Business & Home Safety. The program helps Louisiana homeowners strengthen their roofs to better withstand hurricane-force winds.
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