SELLING REAL ESTATE > All About Flat Fee MLS
What is Flat A Fee MLS Listing?
A Little Background on Multiple Listing Service (MLS)
Until recently, there were many different MLS companies that served each major city in the country. Therefore, in order to list a home in a given city, a Realtor was required to be a member of that particular city's MLS service.
For example, if you lived in Dallas and wanted to buy a home in Lewisville, your real estate agent would have to pay to become a member of the MLS in Lewisville. Very few agents were members of the MLS service in more than one city because joining multiple cities was very expensive.
The Internet has changed the playing field for MLS
With today's modern technology, consumers have changed the way they shop for homes. The MLS services have responded to this shift in buyer behavior by changing the way they do things.
The present form of MLS is composed of the major cities or metropolitan areas along with all of its suburbs. So now, everything in the DFW Metroplex falls under one MLS service. It is the same for other major areas like San Antonio, Houston, Austin, etc.
Now a licensed real estate agent has the power to place your home in the one Multiple Listing Service that comprises all of the cities in your area. This gives a seller much more reach in a given area than they had before.
Why Use a Flat Fee MLS Listing Service?
Busting the Myth of the Flat Fee MLS Listing Agent
Did you know U.S. Anti-Trust Laws forbid fixed pricing in the real estate industry? In spite of this law, a standard of 3% to buy a home and 3% to sell a home has emerged. (3% of the sale goes to the seller's agent and 3% goes to the buyer's agent)
Any company that charges less than this standard is typically referred to as a "discount broker." The big agencies may try to convince you that the discount broker offers fewer services. This could not be further from the truth!
Your home will sell because of two things and two things only. Those two things are:
- Price
- Availability
Your home needs to be seen to be sold. Real estate is based on the Law of Substitution which states no one will pay more for something if they can get the same thing or something similar for less. In other words, your home is only worth what some one is willing to pay for it. If it is overpriced, no amount of marketing, magic, or anything else will sell your house.
When you list your home with a Realtor, (regardless of whether it is with a big expensive firm or a discount broker) it will go on the MLS, and it will become available for every Realtor and potential home buyer using the MLS to see it.
That is why over 80% of homes sold are ones listed on MLS versus those done through other "for sale by owner" avenues. Home buyers are doing preliminary shopping online via MLS searches. They want to see as many homes as possible, and they expect that their Realtor will show them every house listed on the MLS that is within their criteria. If your home is not listed here, it will not be seen by many people, and therefore will have a difficult chance of being sold.
They Want to Charge me 6% for What?!!
A traditional full service company will say they do "extra marketing," so let's look at some of the things they do.
They will spend about $100 on some really nice flyers to hand out to prospects. Is that worth 3% of your home?
They will put your home in the newspaper with a big, flashy ad. Those do more good for the agent than you because they help them bring in new clients on your dollar.
They will do open houses. These have proven to be very ineffective.
They say they have a big relocation department. Well, guess where the buyer's agent is going to be looking. You guessed it... in the MLS where your property is being sold!
There is no Comparison
The MLS Flat fee listing saves you money on the listing side of the sales process. On a $300,000 home that is about a $9000 savings. That will affect your sale price and could carry a lot of weight on whether you sell your home or not.
So, then what does a "full service company" that charges you 6% do that a flat fee MLS listing agent doest not? There is one thing, and that is THEY OVER CHARGE YOU!
As a flat fee MLS listing company we are here to help you save money and sell your home faster. There are many other flat fee listing agents; however, we take pride in setting the standard in service and in pricing. Quite frankly, that is why we are The Best Choice Realty.
Your home or your property is one of the largest investments you have.
So remember that you do have a choice; please make it your Best Choice.
OUR MLS PACKAGES
$39.99
INTRO PACKAGE
Flat fee MLS Listing billed Monthly up to 12 months.
$89.99
INTERNET SPECIAL
Flat fee, 6 month MLS listing, Internet Special.
