5 Things You Need To Know About Flat Fee Mls Selling your home without a realtor means reducing your expenses to pay in commissions. Although this also means you’re missing out on taking advantage of a multiple listing service, there are Flat Fee MLS services that still offer this yet with a discounted price. An MLS or Multiple Listing Service (or Multiple Listing System) is a database of available homes for sale, usually a marketplace for buyers and sellers. It’s also where most licensed real estate agents access the list for their client’s home or browse properties for potential buyers. With Flat Fee MLS, on the other hand, you can use the MLS listing service with a fixed or pre-set price, while also getting listed on some real estate sites such as Zillow, Trulia, or Redfin. Here are five things you should definitely know when you choose the Flat Fee MLS listing service.
You Save Half Of The Commission. Since you don’t have to pay the full 6% commission, you can allot more of your money for preparing your home. This is why most of the sellers prefer using a Flat Fee MLS because they can pay less and keep a big percent of the money while still having control over their listing. Houzeo, for instance, offers a custom-plan flat fee service, and if the buyer has no agent, you don’t have to pay the commission at all.
You Are Responsible For Most Of The Process. For a reduced-fee service, you’ll get a long list of tasks. Choosing a flat fee realtor means you are responsible from start to finish of the transaction, even making decisions about how to sell your home. You have to upload your house photos, negotiate, deal with the paperwork or legalities (or hire a real estate attorney), put a yard sign, write listing details, and as well as marketing.
You Still Get Maximum Exposure For Your House. A Flat Fee MLS Listing service can help widen your reach—giving a solid exposure to your property. Did you know that almost 90% of buyers browse properties online? If that’s the case then listing your home to MLS and a hundred more sites can help you get a potential buyer faster.
Most Of The Process Can Be Done Online. Yes, there are Flat Fee MLS platforms that automate and digitize their forms. And you can also make some changes to your listing with just a few clicks. As long as you have a decent connection and desktop, you’re good to go! This is one of the many cons of home-selling online, you’ll get the process done in no time.
You Still Have To Sign A Listing Contract. Although it’s a flat fee service where you have to sell it your own, your listing agent has to uphold responsibilities in compliance with the associations of REALTORS and the local MLS. To ensure the agreement is followed, you have to sign a listing contract with your broker.