People find and buy real estate today by finding it online. Buyers have access to all the same home listings that Realtor’s do. In most cases, buyers looking for properties online actually tell their real estate agent which properties they want to see. For this reason, the most important thing you can do to sell your home, is to have it listed on the MLS.
It used to be that the only way to have your home appear on the MLS was to hire a full service real estate agent to list your home at 5-7 % of the gross sales price. The listing brokerage gets paid the entire commission, irregardless of where the buyer comes from. With flat fee MLS service, you can get complete MLS exposure for a fraction of the cost .
Flat free MLS listings allow you to list your home by your self, and also to have the right to sell by owner if you can find the buyer yourself. Most of the buyers who will view your home are already represented with a buyers agent. To have your home listed on the MLS, you also need to be willing to pay these buyers agents a 3% commission. Even paying a buyers agent commission will still save you nearly half of what you would have paid with a full service brokerage. A lot of the time buyers approach for sale by owner sellers first, even when they found your home on an IDX feed Realtor website. Most of the time buyers are also reluctant to call a real estate agent, because they want to save on commissions too. They often do drive by’s of the homes they see online, before they ever call a Realtor. In these cases, you will be able to save almost 6% when using a flat fee mls listing.This could bring you a savings of nearly $3,000 for every $100,000 worth of house. A sizeable savings for such a simple secret.
While listing your home with a service like Owners.com can save a lot of money when selling real estate, it also has some disadvantages as well. The brokerages that use flat free MLS service usually offer little or no service. Flat fee mls service is only recommended for people with a good understanding of real estate transactions and contract law.