Do I Use a Flat Fee MLS Real Estate Company?

Using a Flat Fee MLS listing service to list your home inamount of exposure for your property. Millions of
your local MLS for a low flat fee instead of paying thehome buying customers around the world now have
typical big 6% real estate commission will indeed saveaccess to your property's information through the
you money, in a big way. PLUS a flat fee MLS listingcountry's most comprehensive real estate listing
service gives your home full exposure on hundreds ofdatabases.
other national real estate websites, just like a standardNow that you know how it works, the main difference
6% commission real estate company will do. But is itbetween the traditional real estate listings and flat fee
worth it or do you get what you pay for?MLS listings is the amount you will pay. Unlike traditional
The Traditional method of selling a home works likereal estate brokerages, there is no commission due if
this. You hire an agent to sell your property. You agreeyou sell on your own without a buyer's broker, you pay
to pay that agent and their firm a fee to sell youronly the low, flat fee. An average seller can save
home and complete the transaction. That agent, inbetween $3,000 to $5,500 per $100,000 of their sales
agreement with their local board, agrees to share thatprice.
commission with any agent that brings in a buyer andAlso consider that most buyers do not have to pay
completes the transaction. Your agent markets youranything to use a real estate agent to help them buy a
property by using the Multiple Listing Service (MLS).home. Simply put, a buyer gets to employ a real estate
The MLS is a system which acts as a meeting placeagent for FREE. So why wouldn't a buyer use a real
where buyer and seller agents meet to conductestate agent? One of the main reasons why it is
business and trade buying and selling sources. Onceimportant to be listed in the MLS is that you as the
your property is listed in the MLS, your selling agentseller are implicitly hiring thousands of real estate
has agreed to share their commission with anyoneagents with buyers to sell your home for you.
who will bring a buyer to the table and complete theThe added expense of a full service agent hurts your
transaction.chances of selling in a slow market. In spite of what
With a Flat Fee MLS Listing service, the company willsome agents may claim, it's your price that is the
list your property in your local realtor MLS system, butprimary factor that determines your success. With a
you only pay for one side of the transaction, don't payfull service agent you will need to have a higher asking
a listing agent - you only pay an agent to bring you aprice reducing you competitiveness. Home buyers are
buyer. You agree upfront to pay a 2% to 3%normally very immersed in the market and know what
commission to an agent that brings you a buyer. This isis a deal and what isn't.
significantly less than the typical 6%. "Realtors" willNow, when it comes to selecting a flat fee MLS
contact you directly with your phone number as thecompany. you should keep in mind that you want to
contact number. You only pay them if they sell yourmake sure that the broker has experience providing
property at your terms. You also retain the right to sellthis service and will continue to provide it in the future.
on your own and pay no commission at all.As many people are aware, the sheer number of
Surveys show more than 90% of all homes sold werecompeting agents leads to tremendous turnover in the
listed on the MLS. But in addition to the MLS, most Flatindustry. Many agents join the industry, dabble in a few
Fee MLS listing packages give your property exposuredifferent niches with limited success, then drop out
on the Broker MLS Internet Data Exchange (IDX)when they realize that reality does not match their
websites. Your home appears on all of the real estateexpectations. So choose a company with staying
brokerage websites that display property listingpower.
information through the MLS IDX. That's a tremendous