Essentially, these services allow any home owner to list their property on the MLS for a flat fee. The flat fee is typically paid by the seller. Generally, the seller is responsible for submitting two forms and providing the listing information. Once your listing is published, an agent will contact you to offer you a commission on the sale. The buyer’s agent may not offer to show your home, depending on the commission terms.
MLS Receive Attention
Having a professional listing on the MLS is important for a number of reasons. First, the listing is more likely to receive attention. It’s also better for your home’s visibility because a flat fee MLS listing will increase the chances of potential buyers seeing it. It’s also a good idea to invest in yard signs, flyers, and a lockbox so that showings will be easier. Additionally, most flat fee MLS services offer marketing products like a lockbox. You should sign an exclusive listing agreement with the flat fee MLS service. This agreement contains certain requirements, such as the listing must be posted within a specified period of time after you accept an offer and must notify the MLS listing service of the closing date.
Having A Professional Website
Ensure you have a professional website. Having a professional website makes marketing your business much easier. You can also take advantage of free tools to boost your search engine optimization (SEO). A good real estate agent knows how to separate the serious buyers from the people who are just looking. Develop a system for identifying hot leads so that you can focus your energy on those who are serious about buying a home.
Avoid Paying A Commission
A flat fee MLS listing service will help you avoid paying a commission on the sale of your home. However, you’ll still need to pay a buyer’s agent commission. Ultimately, the choice is yours, but you’ll still save money if you choose to do it yourself. Flat fee MLS services allow you to save thousands of dollars in real estate commissions. They’re great for homeowners who don’t want to spend the time and money to hire a flat fee realtor.
MLS Listing Services A State Licensed Brokers
If you are unsure about whether a flat fee listing service is right for you, ask around. Some companies have a refund policy if you’re not satisfied with the services. Some even offer free MLS listing services, so you should make sure you get that information up front. Flat fee MLS listing services must be state-licensed brokers and list your property on the relevant MLS. It’s important to check your state’s multiple listing service to find the best flat fee broker.
Offer Unlimited Access
There are some flat fee MLS services that offer unlimited access, but be sure to read the fine print to avoid surprises later. While most services require full payment up front, make sure there are no hidden fees. If you’re selling your home, you don’t want a surprise bill when you try to close the deal. Instead, choose a company with a low flat fee MLS fee and a high quality service.
Save Money
Flat fee MLS listing services put you in control. You control everything, from the price to the marketing and open house. Flat fee listing services also provide additional services, such as negotiating with clients and handling the legal documents. While flat fee listing services can save you money, you may still feel unsure of your abilities when it comes to legal paperwork and closing. Depending on your preferences, you might feel more comfortable paying for extra guidance.
Flat fee MLS listing services can help you sell your home for less money. The listing fee for most flat fee services is 2.5% to 3%, which is significantly lower than the industry average of 2.79%. These services also come with full service real estate agents to help find buyers and make the transaction go smoothly. You may even want to try a flat fee service before you decide to hire an agent. You can save thousands of dollars on a flat fee listing.
Although flat fee MLS listing services can save you money, you have to consider the downsides. If you’re an experienced home seller, you may be less vulnerable to the disadvantages of flat fee MLS companies. Generally, homes with flat fee listings sell for less than they would with an agent. So, despite the initial savings, you’ll still be paying a real estate agent with higher fees than you would if you sold the property yourself.
Last Word
The cost of a flat fee MLS listing service is often cheaper than a traditional real estate agent, but you’ll still have to pay the buyer’s agent’s commission. This saving isn’t nearly as large as a 5.5% to 6% loss in commission without a realtor. Additionally, because sellers often struggle to price their homes correctly, selling their own home without a realtor will lower their sale prices.