picture of flat fee mls featured image
 

 

The time has come to sell your home and so many questions are running through your head.

picture of a woman thinking about selling her house

  • Should you hire a Real Estate Agent or sell on our own?
  • How much is your house worth?
  • How much do you need to purchase a new home?
  • Should you hire a real estate agent or sell FSBO?
  • Does your house need to be listed on the MLS and how can it help you sell?
  • How can you get your home on sites like Zillow, Trulia and Realtor.com?

If you have the extra time and effort, using a Flat Fee MLS Listing Service can save you a lot of money— money that can then go towards your new house, movers, some new furniture, anything that you want or need.

But where do you even start? And what are all the steps?

To better understand selling your house with this type of MLS Listing Service, let’s take a look at our successful flat fee MLS sellers James and Mary.

picture of fsbo home sellers

How James and Mary Sold Their House With a Flat Fee MLS Listing

 
Below is an interview we did with a successful customer of ours after they sold their house using our flat fee MLS listing service. Their names have been changed and personal information omitted to keep their identity anonymous but they are very real and also very happy with their results!
 

picture of a warning signWarning: These Results Are TYPICAL!

 

picture of the letter Q representing a questionGet LISTED Realty: Thanks for agreeing to be interviewed. To start, why did you decide to sell your house?

picture of the letter A representing an answerJames & Mary: We didn’t necessarily want to move but James received a promotion at work but it required him to move to another location that was out of state. We loved our house but we could have used some more space anyway, so in the end it was for the best. We just didn’t want to go through the hassle of selling.

picture of the letter Q representing a questionGet LISTED Realty: That makes sense, they say moving is one of the most stressful life events. How and why did you guys decide to sell “FSBO” with flat fee MLS?

picture of the letter A representing an answerJames & Mary: Mary had the idea to sell FSBO to save some money and she started doing some research online and came across a lot of disadvantages about selling a house by owner but they were all written by real estate agents or companies that support real estate agents. Once she looked into it more, she realized that these agents don’t like showing FSBOs because they don’t get paid at all. Thats when she came across the concept of flat fee MLS and the benefit of saving the listing agent commission but still offering a buyers agent commission. It seemed like a perfect compromise and we thought it would work well for us.

picture of the letter Q representing a questionGet LISTED Realty: It is the perfect compromise, as long as you offer a standard buyers agent commission. Did either of you have any prior experience selling a house?

picture of the letter A representing an answerJames & Mary: We had a small condo that we owned when we first were married and we listed it with a Realtor about 7 years ago, we sold it and thought the process overall wasn’t terribly complex. Mary actually thought about getting her real estate license but never did, so I guess she always had an interest in the business. But neither of us had ever sold a house ourselves before.

picture of the letter Q representing a questionGet LISTED Realty: We agree, the process isn’t that bad, if you do the correct steps in the correct order. So now that you decided to try and sell yourselves and you thought flat fee MLS was the right approach, how did you decide which flat fee MLS company to work with?

picture of mary researching flat fee mls companiespicture of the letter A representing an answerJames & Mary: Well, we are big on researching our options to make sure we don’t rush into something and end up with regrets. James was busy with work, so I went online and started searching around and reading all I could. Thats is how I came across Get LISTED Realty. I don’t remember what was the first piece of content I read on your website but I kept reading more and more because it was so helpful, I still can’t believe how much information is on your website.

I then started reading reviews and what would be considered the “fine print” of both Get LISTED Realty and your competition. There are companies that offer a lower price online but they have a lot of additional costs or they have bad reviews and probably most importantly, their websites are not helpful at all so we knew they just wanted to take our money.

We also didn’t realize that ForSaleByOwner.com or FSBO.com and a few of the other websites are just referral websites, they don’t even list your house! We liked how your website pointed that out and was very transparent in how we work directly with you.

picture of the letter Q representing a questionGet LISTED Realty: Thanks for choosing us and for all the kind words! How did you get prepared to sell your house with a flat fee MLS listing?

picture of the letter A representing an answerJames & Mary: Well, as you might already be able to tell, Mary does all the research. She followed the advice on your website and staged the house to sell by doing all the standard best practices and then we hired a professional photographer to come out and take photos of the house. We can’t stress enough how doing those two items really was worth the effort and spending a couple hundred extra dollars.

Mary also keeps an eye on the market and she knew that we needed to price our house appropriately. We had a few neighbors try to sell unsuccessfully by asking for too much money. They had told us before they moved, that as soon as they listed again with a correct price, they sold in a few weeks.

So Mary came up with what she thought was an appropriate listing price, but I was greedy and wanted more money and said lets increase the asking price by $10,000. She hesitantly agreed but said lets see how it works and adjust our price quickly if we don’t sell.

picture of the letter Q representing a questionGet LISTED Realty: Sounds like you guys did the correct preparation steps and had a plan. Once your house was on the market, how did the selling process work for you?

picture of the letter A representing an answerJames & Mary: Once our flat fee MLS listing went live, we had 3 showings the first week, which we thought was just ok. The agents contacted us and setup a time to show the house, most showings were in the afternoon or early evening. We didn’t want to be home during the showings so we had a lockbox on the door so they could let themselves in. I recommend, having the agent text you a copy of their business card so you can verify who they are before giving them the combo to your house.

After the showings, I called the agents to see what their buyers thought. Two of them said they liked our house but they were still looking, the other agent, I couldn’t get ahold of.

After that first week, there was not any more showings scheduled and we didn’t receive any more inquires. So… we decided to drop our price to what Mary had originally came up with! That did it, once we had the correct price, we had 4 more showings over the next few days and 2 offers to choose from! One offer was from a buyer that was working with an agent and the other was from a buyer who wasn’t working with anyone.

picture of the letter Q representing a questionGet LISTED Realty: Great job on taking corrective actions quickly and getting those buyers interested in your house. How did you choose which offer to accept?

picture of James and Mary looking at their house that soldpicture of the letter A representing an answerJames & Mary: Well, we really wanted to take the offer from the buyer who was working on their own. Obviously, we would have saved a lot more money by not having to pay the buyers agents commission. But their offer wasn’t as strong and after consulting with our attorney on the offers, she advised us to take the offer from the buyer working with an agent.

Our attorney said there was a greater chance of the deal falling apart if we choose the other offer because they were not putting much money down, they had a strange looking pre-approval letter and they wanted too much time for the inspection and mortgage contingencies.

Overall, the buyer we worked with was very strong and presented their offer well. The agent they were working with was very professional and she represented her clients well and made the process smooth. So in the end we didn’t mind paying her commission at all.

picture of the letter Q representing a questionGet LISTED Realty: Wow! That’s really a good thought process that seemed to work for you. How did the closing of your house go?

picture of the letter A representing an answerJames & Mary: Very smooth, thanks to our attorney who handled all the work that goes on behind the scenes. The buyers did ask for a few items to be fixed before closing but we would have wanted the same repairs done if we were buying the home. We didn’t even have to attend the closing, we met our attorney the day before and signed all the paperwork. She called us after the closing was completed and told us it was a done deal.

picture of the letter Q representing a questionGet LISTED Realty: Shows the value of working with a good real estate attorney. So perhaps the most important question, how much money did you save in the end and was it worth the extra work of selling with a flat fee MLS listing?

picture of the letter A representing an answerJames & Mary: It definitely was worth it, dealing with hassle of selling without a listing agent was not bad at all. I’m not saying that selling by owner would be for everyone but if you are a savvy person who wants to save a good amount of money, then go for it. We ended up selling our house for $378,000, which means with the 2.5% we would have paid for a listing agents commission, we saved a total of $9,450! I highly recommend selling a house with flat fee MLS and will never do it any other way.

picture of home sellers

Want to learn more?

Click one of the questions below to jump to that question we will answer in detail! Or just keep reading.

 

Get LISTED Realty is a Direct Flat Fee MLS Real Estate Broker in the Following States. Click to Check Out State Specific Information!

Connecticut | Massachusetts | New York | Rhode Island

 

picture of for sale sign for fsbo

What is a Flat Fee MLS Listing?

 

In our example above, Mary explained to James that using a flat fee mls listing service can save them a lot of money.

This is because while they are selling by owner, they are still gaining maximum exposure to active buyers that are working with real estate agents who use the MLS as their primary source for listings currently on the market.

But just what is an MLS listing?

MLS stands for “Multiple Listing Service,” although some people will call it the “Multiple Listing System”; regardless of local nomenclature, the MLS is a database of available homes for sale that licensed realtors can access to find homes for their buyers and to list for their sellers.

It also automatically posts the listing to hundreds of real estate websites— some of which will only pull from the MLS.

Most Realtors are considered ‘Full Service’ and will list your house in the MLS, only if you pay them a listing commission (2.5%-3%) and a buyers agent commission (2.5%-3%).

A Flat Fee MLS Listing Service, is a state licensed real estate broker that provides an ‘Entry Only’ service instead of ‘Full Service’.

You pay a pre-set sum of money, and they place your listing on the MLS, schedule your open houses and make changes to your listing as you move through the sale process.

Unlike a full-service listing, you won’t be assigned an agent to handle all of your showing requests, negotiations and any other activity associated with the sale of your home.

Instead, your personal contact information will be listed on the MLS entry, and you’ll handle everything yourself.

Differences between a ‘Full Service Listing’ and ‘Flat Fee MLS Listing’

Real Estate ServiceFull Service ListingFlat Fee MLS Listing
Market to buyers agents by listing property for sale in local MLS
Schedule showings for the seller with buyers and buyers agents
Present and explain offers to the sellers from buyer and buyers agents
Advise the sellers as to the merits of an offer to purchase their home
Assist the seller in negotiations such as counter-offers and offer acceptance
Save the seller THOUSANDS with a low flat fee instead of high commission

It is important to note that there are numerous terms used to describe these types of listings, in addition, to other discounted real estate services.

The Department of Justice often describes these as “non-traditional,” “fee-for-service,” and “menu driven,” as they contrast the traditional services offered by a licensed real estate broker when selling a property.

When it comes to listing your house on the MLS for a flat-fee and limiting the additional services provide, the term “a la carte” is often preferred, as the service is not limited but driven by more choices on the consumer’s end.

There is also some confusion caused by other nontraditional services from real estate brokerages that charge a flat fee of a couple or few thousand dollars to sell your home instead of a commission, but is not the same as a flat fee MLS listing.

When discussing the use of this service, be aware of this shifting terminology and ensure that everyone is on the same page.

picture of questions marks

How Can I List My House With Flat Fee MLS?

 
There are a lot of options out there that are offering to list a home in the MLS for a low flat fee. You are going to want to find a company that is a direct source to the MLS and NOT a referral service. So where does a seller start to find the best flat fee MLS company?

Below Are The Steps To List Your House With Flat Fee MLS

  • Find the Best Flat Fee MLS Broker In Your Area
  • Purchase Your MLS Listing for a Flat Fee
  • Provide the Property Information
  • Upload the Photographs
  • Sign a Listing Agreement
  • House Will Then Get Posted to the MLS

Next we will take a look at each of these steps to get a clearer picture.

1) Find the Best Flat Fee MLS Broker In Your Area:

This is the first step and probably the most important for you to execute correctly. To start, you’ll need to find a state licensed real estate broker that offers this service. Most of the so called big name “For Sale By Owner” websites are just referral companies, meaning they take a cut of your money and then hand you off to another company and you have no idea what you are getting.

Another very important point, is to make sure they will list your house in the appropriate local MLS. There is not just 1 MLS and most states have multiple MLS databases, often grouped and split by counties. So a good website will have the MLS’s they are a member of posted on their website by county.

A bad company will just post your home in whatever MLS they are a member of in your state to save themselves money. It will not do you any good if they advertise your home in the wrong MLS. So a little research can go a long way.

Be sure to investigate any company thoroughly before moving forward.

How To Verify a Flat Fee MLS Company Is Reputable
  • Lookup and verify their Real Estate Brokers license is active in your state
  • Do they list the MLS’s they are an active member of in your state?
  • Is their website user friendly and informative?
  • Search the internet to check out their online presence
  • Do they have positive reviews?
  • Are they a member of the Better Business Bureau?
  • Overall, are they active in online real estate business?

In terms of price, some companies offer cheaper rates or are even offer to list your house for free, but they tend to be notorious for poor customer service or have lots of hidden fees. Don’t be afraid to compare more than one service before making your decision!

You will also need a responsive broker; MLS can and will impose fines if any status updates aren’t made within 24 hours or if any of the information is incorrect. When you put your house on the market as a “For Sale By Owner” listing, you are responsible for those fines.

You also want to know that the broker will forward you any buyer leads from contacts or inquiries that they will they receive.

Any good MLS Listing Service will offer terms for instant cancellation should you decide not to use their service further.

2) Purchase Your MLS Listing for a Flat Fee:

Once you have identified a flat fee MLS company that you want to work with, you will need to purchase the listing. Most of them have this capability built right into their website. Before purchasing, you should understand if there is a refund policy after you make the purchase. Most will allow you can cancel and get a full refund if they have not begun working on your listing yet.

3) Provide the Property Information:

Once you’ve purchased your listing, you will have some paperwork to fill out. The first piece of paperwork is your homes property information for correct data entry into the MLS. A good online flat fee broker will have all of this done online with a form you can easily fill out.

If you find one that is still using fax, scanning or even mail for this paperwork, that is a very bad sign you choose the wrong company.

Most MLS’s have a lot of fields to fill out that describe your property and if you choose the right company to work with, their forms will have all these fields for you to fill out. The less reputable companies will not capture all the required information and either leave a lot of data out or worse they will take a guess.

Make sure you provide accurate information about your property in these forms. You don’t want to misrepresent any of the details about your home that will just leave buyers disappointed or worse you could be liable for misrepresentation if you covered up a material fact about your home.

Once your house is listed you should receive a pdf of the listing as it appears in the MLS. This gives you an opportunity to review it for accuracy and let the broker know if any changes need to be made.

4) Upload the Photographs:

Correctly marketing your home online requires photographs that showcase your home to look it’s best. You will want to make sure the photographs you submit to your flat fee MLS broker for your listing are either professional or if you take them yourself they are of the highest quality.

MLS’s don’t allow an unlimited amount of photos, most have a limit of 25-40. It really all depends on the MLS rules. Check what your listing plan that you purchased allows for and if you have more photos than the MLS allows, make sure you choose the best ones possible. Don’t leave it up to the broker to select which ones they think is the best.

A lot of flat fee MLS listing websites will have a photo upload form for you to submit your photos. Others will require you to email them or send a link to them to be downloaded. The most important part is that the photos look good, how they get to the flat fee company is more a matter of convenience.

5) Sign a Listing Agreement:

This listing agreement will state the limited terms from the broker and what amount of commission you offer to buyer’s agents on the MLS.

Most real estate brokers and MLS systems offer two types of listing agreements for listings described below.

  • Exclusive Right to Sell – With this agreement, you pay the listing broker a specified amount regardless of whether you find a buyer through their services or on your own.
  • Exclusive Agency – With this agreement, it allows the seller to market their house outside of the broker and not pay a commission if they find their own buyer.

The Exclusive Agency agreement is what you want to sign and should be very cautious of an Exclusive Right to Sell listing agreement as a for sale by owner.

For more detailed information, I cover the listing agreement in the section below titled Do I Have To Sign a Contract With a Flat Fee MLS Broker?

Get LISTED Realty is a Real Estate Broker in the Following States and NOT a referral service. Click to Check Out State Specific Information!

Connecticut | Massachusetts | New York | Rhode Island

 

picture of stack of money saved after selling with flat fee

How Much Money Can I Save Using This Service?

 
For starters, you’ll save AT LEAST 50% of the commissions, because of what would have been paid to a full-service listing agent as commission.

They take a percentage of the final selling price as their commission.

But when you list your home on the MLS without a Realtor they are not working for a commission, they are providing a limited service of just entering your home in the MLS for a flat fee, everything else is your responsibility.

When a buyers agent brings a buyer to you, then you will still have to pay the buyers agents commission that you agreed to in the listing agreement you signed.

HOWEVER, you also have the option of finding and working directly with a buyer who is not represented by a buyers real estate agent, avoiding the need to pay a commission at all!

If that happens, this can save you many, many thousands of dollars!

The exact amount will always vary based on the value of your home and the standard commission rate in your area, that is why we built the calculator below for you to figure out your exact savings.

Flat Fee MLS Listing Savings Calculator

  •    

    Below is your total calculated savings!

picture of a woman confused about listing her home

Is a Flat Fee MLS Listing Right for Me?

 
This one is a little trickier to answer, there are advantages but it takes some personal reflection about yourself and current situation.

Do you have the time to take on all of the tasks a listing agent would typically perform?

Can you get your house’s value correct to calculate a price, create a budget, hire a photographer, find a real estate attorney, and negotiate directly with real estate agents or buyers directly?

This isn’t to discourage you in any way and all of those items above are not overly complicated provided you have some experience you could apply to the sale of your home.

But if you do decide to take on the task of selling by owner the rewards are plentiful!

Do you need the money you can save from the lack of commission, perhaps to hire a moving company or to afford a larger down payment on your new home?

Maybe you need a vacation or need to pay down some other personal debt?

Are you a savvy DIY-er who loves to take on these types of projects?

If yes, then selling your house this way is the perfect option for you.

If no, then you may want to consider finding a full-service listing agent, instead.

Here are the advantages of listing with flat fee MLS.

  • Exposure: A flat fee MLS listing will list your house on the local MLS that only Realtors have access to list homes in. Giving sellers maximum exposure to buyers who are working with real estate agents, as well as internet exposure to local and national websites real estate websites, including, Zillow, Trulia, Realtor.com and all the others.
  • Save Money: When a home seller decides to purchase a flat fee MLS listing they typically only pay a few hundred dollars which saves them thousands in listing agents commissions. This is by choosing to handle the listing agents responsibilities on their own. A flat fee MLS listing plan is still a for sale by owner of FSBO. You do have to offer a buyers agent commission, we recommend 2.5% – 3%. But if you find a buyer who is not working with an agent you save that money too.
  • Control: Savvy home sellers who chose to list with a flat fee MLS real estate broker are in control of the sale of their house. This means that they are 100% responsible for listing, showing, setting the price and negotiating. Sometimes an owner can do a better job selling their home than a real estate agent. In this situation, it makes perfect sense for an owner to handle the sale of their home by themselves.
  • Cancel at any time: With a full service real estate broker they typically have you sign a contract that doesn’t allow you to cancel if you are unsatisfied for any reason. With a flat fee broker, you are allowed to cancel the contract and change your strategy at any point in time.

picture of cost of listing your home

How Much Does It Cost to Use a Flat Fee MLS Service?

 
If you go with the direct approach, it is easier to find reasonable rates among various brokers.

A typical rate is $200-400, depending on the level of service and listing features such as the number of photographs, length, and whether or not they include free updates.

Some brokers can charge as high as $1,000, but they tend to offer additional services that vary by company.

Make sure you understand the pricing before you select which company to use.

Some companies will list your house on the MLS for FREE or for as low as $99.

Be cautious of this approach, it is just a way to get your business and then run up the charges on you with hidden fees or lots of other charges, once you sign up with them!

picture of home seller responsibilities

What Does a Seller Have To Do In Order To Sell Their House?

 

Real Estate Brokerages traditionally deliver a bundled package of services, which includes assisting the seller in setting a list price, advertising and marketing the property for sale, listing the property, handling buyer inquiries and scheduling showings, hosting Open Houses, handling contracts and negotiating on the seller’s behalf, and managing the transaction and closing escrow.

You would then pay a commission to the broker after your sale has closed.

When you go the Flat Fee MLS route, the broker is only responsible for creating the listing, scheduling open houses and making any updates.

Everything else is on you.

So it is important that you learn how to sell a house by owner.

Like James and Mary above, you’ll need to buy a key lock box for your door, display a For Sale By Owner sign in your front yard, and schedule any showings.

You will also be responsible for negotiating the contract with a buyer or buyer’s agent and many homeowners elect to hire a Real Estate Attorney to review the deal and handle the legalities with the transaction.

Any paperwork, escrow management and next steps after you accept an offer will be your responsibility.

Many of these Real Estate Brokers may offer additional help— at an additional cost.

If this fits in your budget, or if you need it, then don’t be afraid to take them up on the upgrade.

Be sure to have any photos you want on the listing ready to go before you purchase your listing.

You can hire a professional photographer like Mary decided, or you can ask a friend or take on the task of the real estate photography yourself.

MLS listings require at least one photo; the faster selling listings have several high-quality images.

Also, you will want to price your house appropriately in order for it to get the best results.

Actually, that’s sound advice for listing with or without a Realtor.

When it comes to writing the listing description, be careful with what language you use.

Avoid terms like “motivated seller”— because if you sound desperate, someone may try and low-ball you or scam you.

You will want to make sure that you are working with serious buyers only and try not to attract the wrong types of buyers.

Also you will want to avoid any discriminatory language that could discourage any groups of people from looking at your home.

If you’ve recently upgraded any of your appliances or features, be sure to use brand names.

Big-name appliance companies like Whirlpool, Kohler, Viking, and others spend millions every year on advertising.

You can take advantage of this by dropping their name in your listing to catch someone’s attention.

Consider what you look for when you are browsing real estate listings and transform your listing to match.

Don’t just say you have a pool and a patio for grilling, say that you have a backyard retreat perfect for summer barbecues and family get-togethers.

Be creative!

And most importantly, have fun throughout the process!

picture of a person signing a contract

Do I Have To Sign a Contract With a Flat Fee MLS Broker?

 

Yes. When you choose to list your house on the MLS with a flat fee listing broker instead of a traditional full service agent, you still need to sign a contract with that broker.

This is typically done electronically and not with an actual “wet” signature.

You might be asking yourself “why do I need to sign a contract for a flat fee MLS?”, after all you purchased the listing plan already online and you are selling on your own.

Well the answer is because the listing broker has legal & compliance responsibilities that they need to maintain with both the local MLS’s and the associations of Realtors on the state and national level.

In order to ensure that this level of compliance is maintained, they are dependent on you for some of the most critical items.

The contract that is typically used is what’s called an “Exclusive Agency” contract.

An exclusive agency contract defines the agreement between the flat fee MLS broker and the home seller, including but not limited to the following items related to paying commission. (Source)

  • If the property is sold by the seller without any use of a buyers agent, the seller is not obligated to pay a buyers agent commission.
  • If the property is sold by a buyers agent, the seller is obligated to pay the agreed buyers agent commission.

This is otherwise known as an “Entry Only” contract because it further limits the scope of the agreement to only listing the house in the MLS.

A good flat fee MLS real estate broker will have additional items in their entry only contract.

Below Are The Typical Items A Home Seller Is Contractually Responsible For With Flat Fee MLS

  • Paying a Buyers Agents Commission
  • Accurately and timely updates to the status of the listing
  • Disclosure requirements
  • Not discriminating against any fair housing laws
  • Releasing the listing broker of any liability and damages

Next we will take a look at each of these items to get a clearer picture.

1) Paying a Buyers Agents Commission


When you list your house with a traditional real estate broker, you most likely will pay both a listing agents commission and buyers agents commission. The listing agent will enter your home into the MLS and offer a commission to any buyers agent that produces a ready, willing and able buyer for your home. When you list your house with a flat fee MLS listing broker, you save thousands by not having to pay the listing agents commission.

However, in order for your home to be listed in the MLS, you will still need to offer a buyers agents commission. This is a requirement of listing your house in the MLS. After all, a buyers agent would not show your house to their client without ensuring that they will getting paid. You do get to choose what you want to offer but we always recommend 2.5-3% to get the best possible results for the sale of your house.

2) Accurately and timely updates to the status of the listing


The MLS is a database of all the houses that are currently on the market with a real estate broker. In order to have this database valuable, the data needs to be accurate and dependable. The MLS will enforce this requirement with fines to ensure that real estate agents update their listings within 24 hours of status changes. So when you list with a flat fee MLS contract, this ensures that you notify the service of these status changes.

If you don’t the fines can be passed on to the homeowner if they didn’t follow the terms in the contract. Keep in mind, nobody wants to deal with fines (MLS officials included) but it is necessary to make sure everyone plays by the rules and the data is reliable.

3) Disclosure requirements


Home sellers have a responsibility to make disclosures about their property to prospective home buyers. There are federal lead based paint disclosure requirements as well as each state can have additional disclosure requirements.

A flat fee MLS listing broker will need to ensure that their customers know about these requirements and their obligations to disclose any material defects or facts about their home that a home buyer would want to know before buying their home. A good contract will both inform and enforce these disclosure requirements.

4) Not discriminating against any fair housing laws


Another federal requirement is ensuring both real estate agents and home sellers do not violate any federal laws by discriminating against any of the protected classes when selling a home by owner. Home sellers need to be aware of this requirement just like the disclosure requirements and this is also enforced and informed in a contract to list your home for sale in the MLS for a flat fee.

5) Releasing the listing broker of any liability and damages

When you are selling your house as a FSBO the listing agent will most likely want to ensure that they are not responsible for any liability or fines, fees or even judgements resulting from the sale of your home. This is standard practice and makes good business sense for them.

Sometimes when people hear the word contract they think it is a negative thing.

That’s why we like to call it an agreement instead, it spells out the terms of the relationship so that both sides understand what is required of them. In the end this leads to a productive business relationship.

picture of a buyers agent avoiding a listing

Will a Buyer’s Agent Avoid Showing My House?

 
The simple answer to this is “no,” but let’s break it down a little further.

Many buyers are taking a more active approach by researching houses on sites like Trulia, Zillow, and Realtor.com and bringing them to their Realtor to book a showing.

Also, offering a commission for the buyer’s agent that is typical for your market, usually 2.5% – 3% is typical practice across the board, so they still receive payment for their time and effort.

If you offer a low commission, it could hinder the sale of your home and leave you wondering why isn’t my house selling???

The agent also has to consider their reputation and their client’s best interest.

If they find a listing but don’t show it, their client may find the listing on their own and choose to proceed without their assistance.

If they don’t have an exclusive buyers agreement. (source)

Finally, Realtors are bound by code of ethics rules and anti-trust laws that prevent them from discriminating against another real estate broker just because of their business model. (source)

The buyer’s agent wants to find their client the perfect home and receive their commission and get a good review and referrals, they won’t avoid your listing simply because it’s listed with a flat fee MLS listing.

In fact, it can be argued that these types listings are doing buyers agents a favor by securing a commission for them from a for sale by owner.

Otherwise, they would have to negotiate directly with the seller for a commission without any guarantee that they will be successful!

picture of entering information online

How Do Get the Information About My Home Into the MLS?

 
Simple: you provide it!

All MLS databases have different requirements for data entry, and your broker will have a form that you will fill out.

Many offer these forms through a website, making entry much easier and can help ensure accuracy.

Be sure to find a MLS listing service that has a solid website where everything can be done online.

This will no doubt make it easier on you and make sure there are not any unnecessary delays!

picture of for sale sign mls listings for a flat fee

Wow, That Information Was Very Helpful!—So…What Now?

 
Now it’s time to get out there and sell that house!

You can follow James and Mary’s example, or you can blaze your own trail.

Everyone works differently, so don’t feel that you absolutely must use the same process.

This article is meant to be a helpful and informative guideline, not a strict how-to!

Once your house is listed, your flat fee real estate broker will be your go-to contact for anything regarding your listing, including updating once it sells.

Remember, you’ll only be newly listed once, so put your best foot (and best photos) forward from the start.

If you have any questions during the process, you can always refer to our Home Selling Guide!

Thanks for taking the time to read this article, please drop a comment below and let us know if you need a referral for a local flat fee MLS broker… or if you have any further questions!

 

picture of kris lippi
About the Author: This article was written by Kris Lippi, the Broker and Owner of Get LISTED Realty. He enjoys writing about real estate related topics such as buying and selling homes, how-to guides for around the house and home product recommendations. He has been featured in Inman, Readers Digest, American Express, Fit Small Business, Policy Genius, Lending Tree, GoDaddy, Manta as well as others. Want to know more? Read more here.

 

Comments are closed.

You Are Here
Home » Flat Fee MLS
Customer Support

EMAIL:
[email protected]
PHONE:
860.595.2506
HOURS:
Monday – Friday: 9 am – 6 pm
Saturday: 9 am – 12 pm
Sunday & Holidays: Closed

picture of the state of connecticut
picture of the state of massachusetts
picture of the state of new york
picture of the state of rhode island
picture of how to sell a house guide