Real estate has become a very competitive market for homeowners. The market is experiencing a lack of demand and a surge in sellers. New home listings are therefore struggling to get any traction, and secure a fast sale.

You can overcome this challenge by using a Flat Fee MLS. Your listing will stand out on the open market, which could lead to a faster sale. You can also save between 3% and 6% on commission fees when compared with traditional agents.

What is a flat fee MLS?

Flat fee MLS services will list your house on the MLS at a fixed price. A MLS or Multiple Listing Service, is a centralized listing of all properties available for sale. Only licensed real-estate agents and brokers are able to access the database. Using Flat Fee MLS, you can save between 2.5% and 3% of the listing agents’ commission.

Why choose flat fee MLS companies over a Realtor

As you can see below, MLS with a flat fee offers many advantages over a real estate agent.

  • MLS listings are available nationwide, increasing the exposure of your home. Some FFM companies will also syndicate the listing information to popular real estate sites like Floople, Realtor.com Zillow and Trulia.
  • Most Flat Fee MLS offers marketing tools such as yard signs and professional photography. This will increase your home’s exposure and attract more potential buyers.
  • Flat Fee MLS Companies give sellers greater control and flexibility. You will also receive professional assistance during critical stages, such as negotiations and paperwork.

What is the cost of a flat rate MLS service?

Flat-fee Realtors charge typically between $100 and $400. The price is determined by the package they offer. These packages were created to meet the needs of different sellers. This package usually includes a six-month MLS listing.

Calculate your savings

Source: forbes.com

Here’s how much money you can save by using a Flat Fee MLS company. Here is an example that elaborates on the same.

You want to sell your home for $300,000.

Scenario 1 – Selling via real estate agent

A 6% commission is required. The listing agent charges 3% and the buyer agent 3%. You will therefore pay approximately $18,000 (at 6% on $300,000.

Scenario 2 – Selling with flat fee MLS company

A Flat Fee Company lists your home in the MLS and charges you a fee fixed at $399. You would also be required to pay a commission to the buyer’s agent of between 2.5% and 3%. In this instance, you’d pay approximately $7899. $7,500 + $399).

You can see that both scenarios show you saving up to $10101 when selling your home through a Flat Fee Company.

Do flat fee MLS listings have any hidden/extra fees?

You should ask the provider if there are any hidden fees or additional charges. Some companies may offer low-cost listings, but they could charge extra for additional services. These services may include professional photography or yard signs with “For Sale”.

It is important to review the pricing structure carefully. Ask about hidden fees before signing up with a Flat Fee MLS.

The pros and cons of MLS Listing Service

Pros

  • You can control the entire transaction process
  • Pricing is transparent
  • If there is no buyer’s agent, you can save on the commission.
  • You can cancel your listing at any time if you are not satisfied.

You can also find out more about Cons

  • The listing and selling processes require a significant amount of time.
  • You must also pay a commission to the buyer’s agent if one is involved.
  • You may not be good at selling your house but you should still take the time to sell

How to Sell Your House with Flat Fee MLS

Selling your home with a Flat Fee MLS service provider is a process that requires some thought. You will need to first fill out the new user form on their site and pay for it. The website of the Flat Fee MLS allows buyers to contact sellers directly.

You can follow these steps to sign up for a flat-fee MLS company:

  1. Plan selection – Choose from the range of plans available, starting with Basic and ending with Platinum.
  2. Personal Details – Complete a questionnaire containing your personal details.
  3. Payment – Complete the registration process by paying the required fees.
  4. Property details – Provide all the information you need to sell your property, such as house descriptions and photos of high quality.
  5. Home preparation – Prepare for sale your home by cleaning, improving landscaping, and making repairs.
  6. Interviewing potential buyers, and scheduling home viewings if needed. Negotiate with the buyers until an agreement has been reached.

How to choose the best flat fee MLS listing service?

If you want to sell a home quickly and at a reasonable price, it is important that you choose the best Flat Fee MLS Listing Service. It can be difficult to choose the best service from all of the options available.

  • Full local MLS Coverage – Make sure the company lists your property on all major MLSs within your locality.
  • The MLS should allow you to upload between 22 and 27 photos, which is the ideal number.
  • A listing period that is generous – Select a company who offers listings of at least six months.
  • Pricing – Choose a MLS with a plan that is priced between $300 and $500. This is a reasonable range.

Bottom Line

Are you ready to sell with Flat Fee MLS? The next step is to select the best MLS company. Houzeo, a company that gets your home listed on the MLS without any hidden fees, is the best. The advanced technology of Houzeo makes the home buying and selling process seamless.

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