Flat fee MLS changing the field
The Multiple Listing Service (MLS), the internet, and a For Sale sign are the three most important marketing aspects to getting your home sold.
Real estate commissions have always been negotiable, but now flat fee MLS brokers and discount realtors have added some pressure to the real estate commission structure. Home sellers can eliminate a minimum of 3 percent in commissions by eliminating a listing agent - in the traditional sense. Flat fee MLS companies serve as a licensed agent willing to list your home in the MLS for a one-time low fee.
The MLS will provide marketing exposure you cannot otherwise attain as a for sale by owner. The home will receive exposure on hundreds of real estate related websites, like Realtor.com among a plethora of others. And agents cannot by law refuse to show homes listed by another agent because of anti-trust laws. If this does occur you should report such instances to the DOJ.
Even with discounters and flat fee you can publicize open houses, but only 3-4 percent of sellers find a buyer through this avenue. So don’t let a traditional agent convince you of their value because they will host open houses. Is a 3-4 percent success rate worth thousands of dollars? I didn’t think so.
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