Flat Fee MLS Pro's And Con's
Can anyone list the pro's and con's of a flat fee MLS service? The agents I talk to tell me that I won't get the same MLS listing that RE agents can provide. Any truth to that?
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Can anyone list the pro's and con's of a flat fee MLS service? The agents I talk to tell me that I won't get the same MLS listing that RE agents can provide. Any truth to that?
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Fully depends upon your negotiating skills.... you should compare and contrast the two, different types of listing agreements and marketing plans.
The pros? A reduced fee. If marketing in your area is a no-brainer, a true Seller's Market... then you might not need a more comprehensive marketing plan.
The cons? If it's a Buyer's market... maybe you need more than a generic sign stuck in your yard. Maybe you need to motivate the sub-agents ($$$$) to show your home and bring in a contract.
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I would qualify the points by saying that you can enter at different levels.
1. Full fee, full service.
2. Reduced fee to your agent, full fee to the other side. You get less in the way of advertising, etc. Some of these things you can pay for directly if you want them (paying for an ad on Sunday, etc).
3. Flat fee - mostly to get in the MLS. You still need to be willing to pay the buyer's agent a full share (or close to a full share) if you want them to not ignore the listing. Also implied is the house will have a lock box and can be shown when you are not home.
Be less concerned about the costs of market in the form of commissions and more focused on the net to you. If you find that paying the fee nets you more money then a FSBO sale then it was worth it.
John
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Sparky 57,
Glad to meet you.
I sold a house with a flat fee mls broker up her in Orlando last summer and the MLS add looked exactly like all f the others.
It was $89 per month until it sold.(The broker was down in your area)
I ended up paying 3% to a broker that brought me a buyer.
I had a FSBO colorplast sign made with the words "Brokers welcome" at the bottom along with a small colorplast
5"x 18" strip with the MLS # on it. That way I could use the sign again for another house.
The nice thing about this system is that you can sell the house yourself with paying 0 commission or pay the realtor.
Hope this helps.
Jim
thank you so much for the $89 per month info. I found the site, listed my house on Monday and I signed a contract on Thursday night just under my asking price. Now I have to find someplace to live, did not know it would sell so fast. Yikes!
Amazing service, saved me from the $395 and $498 listers that wanted another 1/2% at closing.
Thanks again, christine