Why use our Flat Fee MLS Listing?
Listing with a traditional real estate firm, you usually agree to pay a listing commission (say for example 6%) which is due at settlement and deducted from the proceeds of your sale. Half of that fee is the “listing portion” of the commission (3% in this example) and this amount goes directly to the firm that lists your home in the MLS. The other half, the “selling portion” or “buyer agent’s fee” of 3% goes to the real estate agent who procures a buyer for your home. If the listing agent sells your home without a buyer agent’s involvement, their company gets the entire 6%.
Instead of paying the “listing portion” of the commission (3% of the gross sales price of your home) you pay a flat rate listing fee.
With savings like these, it’s easy to see why flat rate fee MLS listing have become more popular.
Our Flat-fee listing service allows homeowners to have their property placed in the Multiple Listing Service (MLS) used by Realtors. Listing the home on the MLS exposes the home to real estate agents working with buyers who may be interested in the property, and will include placing the home on real estate websites visited by potential buyers. Other than the Flat Fee of $250.00, the seller only pays the commission charged by the buyer’s agent.
So, for example purposes only, let’s say Frank and Cindy list their home with a full service brokerage and negotiate a 6% commission — with 3% going to the listing agent and 3% to the buyers agent. If they sell their home for $150,000, then they would have to pay a total commission of $9,000; $4,500 goes to the buyer’s brokerage, and $4,500 to the listing brokerage. That is not an insignificant amount of money.
In this example sellers utilizing a MLS Only brokerage can save 3% (or $4,500) on commission!