Did you know that realtors offer flat fee MLS services for independent home sellers? You don’t have to be under a sales contract with a realtor to get your home listed in the multiple listing service. In fact, you can act as your own representative in the sale of your home – that way you don’t have to worry about realtor fees or commissions and you can screen the potential buyers yourself.
How It Works
When it comes to providing flat fee MLS services for independent home sellers, the listing agreement between the broker and the property owner typically requires the broker to enter the property into the MLS and provide other contracted services, with the broker acting in what is generally termed as a ‘limited service broker’. So even though you are acting as your own realtor, you still need to contract with a real estate broker to get your listing into the MLS – hence the flat fee. Some brokers have expanded this freedom of choice to allow sellers to pick from a menu of other optional services. Many flat fee brokers even offer upgraded packages with services that sellers often request.
There Are Many Advantages
When it comes to flat fee MLS services for independent home sellers, there can be many advantages to the home owner acting as a seller. Many providers allow for the home to be listed under a For Sale By Owner using the owner’s own signage in their yard, eliminating the need for realtors and realtor fees. In addition, many services allow for a seller to find their own buyer, which eliminates the broker commission from the MLS listing. In some instances, you can eliminate the broker commission completely by simply paying a full flat fee upfront.
But There Are Some Disadvantages
If you have already moved away from your home and live in a different area, community, or even state, then flat fee MLS services for independent home sellers is probably not an option for you. In addition, unless you happen to practice law or employed by a title company, you will have to pay out of pocket to have these professional services represent you. And unless you live in Texas or have purchased the service, you will have to negotiate all of the offers, counter offers, and counter counter offers that might possibly come in.
Are Flat Fee Listings Right For You?
If you are willing to take on the time, work, and possible headaches that using flat fee MLS services for independent home sellers can cause, then this may be the way to go for you. Saving on realtor and broker commissions may allow you to lower the overall price of your home, which could, in turn, generate a quicker sale than others in your neighborhood. However, the cost of a realtor can be beneficial for peace of mind because you do not have to market yourself, show the house, or worry about negotiations.
Only you can decide if flat fee MLS services for independent home sellers is right for you.
