Money Magazine reported today that buyers who wait to buy a home may be losing out on some very important incentives. First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit.
Additionally, if the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates, will almost certainly rise to more than 6 percent. Coupled with the fact that about 30 percent of housing markets are in the midst of rising prices and the current market is probably as good as it’s going to get for home buyers for the forseeable future.
I’m often asked if there is really any difference between flat fee companies and whether there’s anything to compare, other than price, when selecting a flat fee MLS provider. The answer, of course, depends on the owner/seller’s motivation. If you just want to list or advertise your property for sale in the MLS, then cost really is your only concern. However, if you want to actually sell your home, then here are some other factors to consider:
- How long has the company been in business?
The market does a pretty good of weeding out bad eggs. If a flat-fee MLS broker has been in business for a number of years, there’s at least some reason to believe that other sellers have found them to be trustworthy and capable of doing what they say they’ll do. Especially if they’ve survived a couple of down markets and the recent real estate recession, the company has established a business that’s robust enough to succeed regardless of market conditions. Since the real estate market downturn, lots of agents have taken to flat-fee MLS listing just to be able to stay in the business. So new flat-fee MLS listing companies are poping up everyday. However, if the company just started last month and they can’t give you the names or addresses of lots of other properties they’ve actually SOLD, they probably won’t be able to provide the level of service and support you need. Their track record for successfully assisting by owner sellers hasn’t really been established.
- What kind of support do they provide?
A good flat-fee company should provide several methods of support. While most online companies want to communicate through email, this may not be the method that works best for you. Top online flat-fee MLS listing providers, like Bloomkey.com, offer telephone support, an Online Help Desk, Online Chat and dynamic FAQ’s so that you can get the support you need when you need it.
- What other websites will your property appear on and what strategic partnerships have they established? A good flat-fee company should be able to have your home or property listed on ALL of the leading real estate websites. Since over 80% of buyers now start their search for a home online, it pays to be listed everywhere buyers might be looking. While all flat-fee brokers list properties on Realtor.com and the Broker IDX by virtue of the MLS feed distribution, few have taken the time to establish relationships and proprietary RSS/XML feeds to the larger real estate portals like Trulia.com, Zillow.com, Yahoo Real Estate and GoogleBase, to name a few. Bloomkey has even created an automated posting system on Craigslist to provide your property with an HTML formatted advertisement on the world’s largest classified website.
- What other tools does the broker provide to help make sure that your property not only gets listed, but has a better than average chance of selling?
Any agent who has been in the business for any length of time (or owner who has sold a number of properties) will tell you that it takes more than a sign in the yard and an ad in the MLS to sell a home. If you take the average online flat-fee MLS company today, you’ll find that most of them offer little more than the opportunity to take your money online and stick your property’s data and photos into the MLS – never to be heard from again. They’re really more like online business cards with a cash register. Very few have gone to the expense and trouble of creating feature-filled back end web applications that give sellers access to online real estate selling tools and services to assist with the home selling process.
These are just a few of the questions owners should be asking when determining with whom to list their properties. Remember, anyone can list your home for sale, but that’s probably not where you want it to stop. A successful sale requires more than minimal effort – especially in today’s buyer’s market.
For more information on what top flat-fee MLS listing companies can provide in terms of service and benefits, visit Bloomkey.com
About the Author
Lawrence Bunnell is a partner at Bloomkey. In 1997, Mr. Bunnell co-founded the first national online real estate brokerage (and the first real estate company to ever become licensed in all 50 states). He has been responsible for creating several online flat fee real estate companies and is largely responsible for the advent of the Internet based flat-fee MLS listing segment of the real estate industry. Mr. Bunnell started his career in real estate in 1984. Prior to creating the online flat-fee MLS listing industry, Mr. Bunnell was one of the nation’s top selling real estate brokers at the RE/MAX, ERA, and Coldwell-Banker real estate franchises.
By admin
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Posted in FSBO, Flat Fee MLS, Flat Fee Real Estate Brokerage, Flat+Fee, For Sale By Owner, Real Estate, flat fee, flat fee MLS borkers, flat fee MLS brokerages, flat fee MLS companies, flat fee MLS listing company, flat fee MLS service, flat fee broker, flat fee brokerage, flat fee brokers, flat fee companies, flat fee listing broker, flat fee mls broker, flat fee mls brokers, flat fee mls company, flat fee mls listing, flat fee mls providers, flat fee realty, flat fee services, flat rate, flat rate broker, flat rate mls, flat rate realty, for sale by owner tips, fsbo guide, fsbo seller
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The “mulitple listing system”, called the MLS, gives the broadest exposure possible to homes for sale. In today’s competitive market, you need the most marketing exposure possible, but attempting to sell without the benefit of the MLS can be a like trying to sell shares of stock without the stock exchange. Or, proverbially, “like trying to find a needle in a haystack”. Advertising to the public is a high cost proposition and since you only have one property to sell, the economies of scale work against you. Realtors® have the benefit of having thousands of properties to sell. The MLS creates an efficient marketing system through which Realtors® can cooperate to assist each other in selling each other’s listings.
And through the Realtors® trade organization, the National Association of Realtors®, an MLS listing also gets exposure on Realtor.com, the nation’s leading real estate web portal, you’ll reach even more potential buyers when your property is listed in the MLS by owner. According to a recent survey, over 75% of buyers now start their search for a home on the Internet, most of them on Realtor.com.
Now you can list your home or property in the same MLS used by Realtors® without having to pay a listing commission. List by owner on the MLS with a flat fee MLS listing company like Bloomkey® and you can have the best of both worlds. More exposure to help you sell your home for the highest possible price and still retain the right to sell on your own and not pay a commission.
By admin
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Posted in Flat Fee MLS, Local MLS, MLS, MLS, MLS Service, MLS entry, Real Estate, by owner, flat fee MLS borkers, flat fee MLS companies, flat fee mls broker, flat fee mls brokers, flat fee mls company, flat fee mls listing, home sale, home sales, home seller, home sellers, home selling, home selling alternatives, limited service providers, limited service real estate, list house, list property, listing agent, listing broker, low cost real estate, mls entry only, mls listing, mls listing service, mls listings, mls only, multi list, multiple listing, multiple listing service, mutliple listing service
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Tagged by owner mls, Flat Fee MLS, mls listing, real estate marketing
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Flat fee MLS is one of the best ways if you are planning for a sale of your property. Believe me, for I did it and had got a positive result while selling my house. If you want a price that is worth your home or you are in search of home owner rebates, then the flat fee MLS is surely going to help you in a big way.
Some of the advantages of flat fee MLS are as follows:
1) It is comparatively cheaper to the traditional real estate listing.
2) You can share wide information about the property you are intending to sell
3) The viewer will be able to see the property live as it allows posting of photographs
4) The people from the real estate will also be aware that your home is under the ‘for sale by owner’ category. This makes the sale faster
5) You will have the option to post open houses too through flat fee MLS
6) On sale of your property, you are not required to make payments to the agent of the buyer.
7) There is also no question of payment to the agent of the seller
Try it now!
By Manager
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Posted in Find Real Estate, Flat Fee MLS, For Sale By Owner, agent, discoun mls, discount MLS, discount MLS broker, flat fee, flat fee MLS companies, flat fee MLS listing company, flat fee mls broker, flat fee mls company, flat fee mls listing, flat fee mls providers, for sale, home buying rebates, home for sale
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Tagged flat fee, Flat Fee MLS, flat fee mls agent, flat fee mls online, For Sale By Owner, MLS, Real Estate, real estate agent
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Flat fee MLS versus a traditional agent
When listing your home with a flat fee MLS broker you are essentially acting as your own listing agent assuming responsibilities normally handled by an agent. You will handle all showing requests, handle the marketing of the home – classifieds, etc, and negotiate the purchase offer. And once you sell your home you will immediately question why any agent would ever get 5-7 percent to sell a home. I think you will find it considerably easier than you thought.
The increase in home prices and recent market conditions have lead consumers to try a new method that provides the best of both worlds – it provides invaluable marketing exposure through the MLS while homeowners maintain all right of a for sale by owner. With the savings sellers experience in realtor commissions they would not otherwise realize, they have an opportunity to run their own marketing campaigns. Nowadays, most flat fee MLS providers provide many of the same marketing tools a full-service agent would provide like a yard signs, directionals, comparative market analysis (CMA) for pricing help, home warranties, virtual tours, realtor.com showcases, home flyers, home web pages, closing checklists, contract negotiations, and many other tools.
So what is the first question you ask a Realtor when conducting the listing interview? More than likely it is, "how are you going to market my home and where is my listing going to be visible to the public?" With flat fee MLS you control all aspects of the transaction; you are in the driver seat! Because sellers normally only pay between $400-$600 to a flat fee listing broker, it is almost foolish not commit some of that savings to an aggressive marketing campaign that will maximize your homes potential. Even if you spend a few hundred in classified ads, postcards, etc. you are still savings thousands more than listing with a traditional full-service agent. Spending a few more dollars to a flat fee MLS company that provides a Realtor.com Showcase listings may be advantageous as homes with additional photos and virtual tours are viewed 300 percent more often by the searching public.
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Sellers are saving thousands using flat fee MLS
Saving thousands in equity, while maximizing marketing potential seems to be the motivating factor for home sellers that enlist the services of a flat fee MLS broker. Savvy home owners have quickly come to realize the valuable savings advantage offered by these types of flat fee MLS service providers and discount realtors. Flat fee MLS and discount providers offer the same exposure through the MLS and public websites as any traditional agent with the only difference being, homeowners maintain complete control over the showing and contract negotiation process. With flat fee MLS, customers are afforded the same ancillary services such as home warranties, virtual tours, open houses, and broker assistance (usually available for an additional fee.)
Dealing with Real Estate Agents as a For Sale By Owner
As a for sale by owner or even as a customer of a flat fee MLS listing company you can expect to hear words of discouragement from local full service brokers. Agents will pull out their "bag of tricks" in attempts to intimidate you into listing with them. Don’t be fooled. If you are selling by owner, know that you can take advantage of marketing avenues like flat fee MLS in order to enhance your overall exposure, but if you choose not to, be patient. A home sale is one of the most important transactions affecting a family and selling on your own can save you thousands in equity.
As a for sale by owner be aware that agents will be quick to remind you that you are not a real estate "expert" and run the risk of legal battles and lawsuits regarding the home after sale. Response, have a real estate attorney review all contracts and disclosures. Agents will tell you your home is priced wrong. Response, get an appraisal or search home valuations online. Agent will tell you that no other agent will show the home. Response, offer a buyer agent compensation, and make it be clear. As a customer of a flat fee MLS broker agents will tell you that they cannot find a number to contact you. Response, it’s in the MLS. They will try to tell you your home is not listed in the MLS. If this is the case, how did they get your contact information?
These are just a few examples of what type of tired excuses you may hear from an agent. The bottom line is real estate is a cut throat industry with little ethical foundation – regardless of how hard the NAR tries to portray it. Full service agents and brokers are willing to do or say just about anything to preserve their precious commission structure.
Save on Realtor commissions and get your home shown first
When selling your home you need to think like a Realtor – taking advantage of marketing exposure and differentiating your home from other listings. To maximize marketing you can list the home with a flat fee MLS broker in order to get the exposure of the MLS and other public websites like Realtor.com, and MSN among others. As a for sale by owner some agents may be reticent show the home. Because you are saving 3 percent on the listing side of the transaction you can combat that hesitation by offering a more competitive compensation to buyer agents than any other listing in the area. Agents are very aware of what their compensation for selling a home will be and if a listing is not offering a competitive rate, you can be sure they will show that home last, or in some cases not at all. As inventory continues to rise offering a compensation of 3.5 to 4 percent will ensure your home will be first on the list of area showings. Agents have utilized this strategy for years by offering buyer agent bonus or incentives, but there is no better incentive than cash! If you aren’t happy with the traffic you are currently getting, give it a try.
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Limited-service brokers unaffected
As a number of states recently passed minimum requirements laws for real estate agency, Tennessee and
Virginia have passed legislation establishing requirements for full service licensees allowing exemptions for limited service providers. Thank goodness someone has gotten it right! The Department of Justice has commended the states for their preservation of consumer choice. Why has it been so hard for state senate to differentiate between the services being offered by a full service agent and a limited service broker and passing legislation that still promotes competition and choice? Minimum service requirements should be passed to ensure full service agents are providing a service that warrants the 3 percent usually received on the listing side of the transaction. Protecting the consumer means making sure that home sellers enlisting the services of a full service agent are getting all the services they deserve for the thousands of dollars they are paying. With a fee-for-service, or flat fee MLS broker, consumers know exactly what they are paying for, essentially there are no intangibles.
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Increasing your home’s marketing exposure
Over 75 percent of homes locally are sold through the multiple listing service (MLS) making it an invaluable tool when selling a home. Flat fee MLS provides an avenue for home owners to utilize the proven success of the MLS while maintaining all rights of a for sale by owner. This means sellers can market their home in the MLS and avoid realtor commissions altogether if an unrepresented purchaser presents an offer on the home. This scenario becomes increasingly more likely as lisitngs in the MLS are displayed on a bevy public websites inlcuding Realtor.com. Flat fee MLS provides a low cost alternative to the traditional agency while providing the same marketing exposure. If you are a selling a home by owner and have decided to cooperate with a buyer agent, then a flat fee MLS broker is the right choice for you. You can maximize marketing exposure and equity, all the while saving thousands during the sales transaction.
Use flat fee MLS to market your home more competitively
For the eighth consecutive month real estate sales fell in April. Closed home sales were down 14 percent, the number of homes put on the market was down 22 percent and days on market was up from 94 days a year ago to 104 days in April. Even with the dropping numbers Kit Hale, president of the Virginia Association of Realtors, remained optimistic saying “we’re now making the transition back to a more normal marketplace where conditions show better balance between buyers and sellers.” As a seller the spring time is a great time to put a home on the market, but under these conditions it is more important than ever to price the home competitively. As a “for sale by owner” using a flat fee MLS broker you have a competitive advantage over homes sold through a full service agent. Because you are saving a minimum of 3 percent with flat fee MLS on the sale of your home you can be more flexible with the asking price, lowering your overall list price while still pocketing more equity than if you used a full service agent.
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You have more options than you think as a For Sale By Owner
If you are selling your home by owner give your home the maximum exposure. As a "for sale by owner" you can advertise in local print media like newspaper, classifieds, and magazines but realize that over three-quarters of homes sold, are sold through the local Multiple Listing Service (MLS). Take advantage of MLS exposure without sacrificing equity by listing your home with a flat fee MLS broker. Flat fee companies provide many of the same services as a traditional agent at a fraction of the cost. As a flat fee MLS customer you provide your home with maximum exposure while maintaing all the rights of a for sale by owner, limiting realtor commissions. In most cases you will receive a yard sign, home fliers, required disclosure forms, selling assistance and your home will be listed in the local MLS, brokerage websites, Realtor.com and other popular regional websites.
Property information being made public by MLSs
Home valuation and real estate tech sites have added pressure to the ever-changing face of real esate and the way MLSs and brokers alike display their property information. Under the pressure Northwest Multiple Listing Service, which serves western Washington, Prudential, and Zip Realty have made the decision to provide sold property information for public display. With the ongoing litigation between the Department of Justice and the National Association of Realtors it will be interesting to see if this becomes the norm or just an anomaly. Websites like Zillow.com and competitor RealEsateABC.com have increased consumer knowledge of home valuations and provided a springboard for home sellers to assume more control over the sales transaction. With accurate home valuations sellers can now confidently list their homes through alternative models like flat fee MLS brokers and discount real esate brokers eliminating the high commission structure demanded by full service brokers and agents.
Alternative models are a growing Trend in real estate
Finally a front page article addressing the changing trend in the real estate structure. The USA Today just published an article detailing the different advantages of discount and flat fee brokers, as well as the advantages of having your home published on the internet. It seems the USA Today has hit the nail on the head with their recent title "It’s always ‘Open House’ as real estate goes online." As home owners become more familiar with the sales transaction courtesy of the internet, savvy home sellers are turning to alternative models like discount MLS brokers and flat fee MLS brokers that provide services on an a la carte basis while allowing sellers to maintain all the rights of a For Sale By Owner. With flat fee MLS the home seller maintains control over the transaction and can monitor who sees the home and how quickly inquiry calls are returned. There is no waiting for the agent to, hopefully, do the work.
As discount brokers and flat fee MLS companies gain market share realtors continue to work to persuade state lawmakers to pass laws limiting the ability of the agents to give rebates or offer services on an a la carte basis.
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75 percent of all homes are sold through the MLS
If you are selling your home by owner you may want to consider the alternatives as less than a quarter of For Sale By Owner homes sell. If you are a savvy seller who is knowledgeable about the real estate transaction than a flat fee MLS broker is the solution. As a For Sale By Owner you are missing out on market exposure locally, regionally, and nationally. Over 75 percent of homes sold are sold through the local MLS which provides public websites, regionally and nationally, with property information making your home available to anyone searching the web. Flat Fee MLS provides the marketing exposure of any listing through a traditional agent but allows homeowners to retain all the rights of a for sale by owner. Meaning, if the home is sold to an unrepresented purchaser then no commissions are owed.
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Benefits of a national MLS
After a committee met earlier this year to discuss the development of a national MLS talks have again heated up. With the unveiling of websites offering consumers an opportunity to view MLS listings brokers now favor the idea of a national or consolidated MLS system. A national MLS would allow brokers to cost-effectively expand their market area and assume increased control over the use and further marketing of sales data.
For the benefit of its consumers a new MLS could include the data of more than just homes "listed" with an agent, incorporating For Sale By Owner (FSBO) homes, foreclosures, rentals, etc. This would increase the benefit of flat fee MLS brokers that offer services on an a la carte basis. Services would be paid for and provided on a need basis rather than signing with a full service agent that provides unneeded services for 5-6 percent.
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List your home in the MLS for a low one time fee
For a one-time low cost a Flat Fee Broker will provide an MLS Listing. It can be a inexpensive way in which to advertise. If you are wishing to maintain the rights of a For Sale By Owner, flat fee MLS will allow you to accept not only offers presented by Realtors but also offers made directly to you by unrepresented purchasers potentially saving you thousands on the buy side of the transaction as well. If you are selling your home yourself you may have already decided that compensating a realtor that brings you a buyer is fair. With a flat fee MLS listing you are merely agreeing to those terms up front but still maintaining the right to sell your home on your own. An MLS listing is a valuable tool to getting the home sold.
MLS listings provide desired marketing exposure
MLS Listings have long been the source for Realtors to refer to when selecting homes for their customers to preview. With the capabilities of the internet more and more home buyers are searching those properties on their own. One way to be sure they see your home is to place the home in the Multiple Listing Service whereby your home will receive its maximum exposure appearing on websites like Realtor.com which receives 30+ million viewers a week. Choosing to utilize the services of a Flat Fee MLS broker can be the low cost solution to providing the vast exposure of an MLS listing. MLS Listings can provide the consumer with valuable information, multiple photos, even virtual tours of the home. By exposing the homes exterior and interior photos the consumer can determine quickly if the home suits their needs. It can be a great source for attracting interested parties and filtering out those individuals with different criteria. MLS Listings have proven for years to be one of the most valuable tools for Realtors and now a valuable tool for Sellers and Buyers alike as 75 percent of all homes are sold through the MLS.
ABC News reports the alternative models in the real estate industry
Could the real estate industry be headed the way of travel agencies and stock trading? If success stories like Roman Lekov continue to occur it could be. Roman recently enlisted the services of a flat fee MLS broker in his local area of New Jersey and sold his home in just two days saving over $10,000. Because the commission structure of the real estate industry currently calls for the listing agent and the buyer agent to split between 5 and 7 percent of the home’s final sales price eliminating the listing agents commission can save sellers a considerable amount of money.
Realtor.com offers unique and necessary marketing exposure
With over 35.2 million unique visitors Realtor.com topped the list of most visited websites in the real estate industry. Marketing exposure is the most important aspect of getting your home sold. If you are trying to sell For Sale By Owner (FSBO) you are not only missing out on over 75% of the local real estate market through the MLS but you are robbing your home of the valuable online marketing exposure created by public websites like Realtor.com. If you are trying to save on real estate commissions by selling your home FSBO a flat fee MLS broker is the answer. Through a flat fee MLS company you will be listed in the local MLS for a one-time low fee providing the opportunity to appear on public websites maximizing your homes exposure.
Agent ethics questioned by a segment on ABC
The National Association of Realtors is once again defending the reputation and ethical practices of its nearly 1.5 million members. After a segment aired on ABC, “What Your Broker Won’t Tell You”, depicted real estate agents as liars and crooks NAR responded by maintaining the segment was “very inaccurate, grossly misleading and an unfair depiction of the nation’s Realtors”. The segment implied agents will lie and withhold pertinent information in order to ensure either the sale goes through or the listing is theirs.
The segment provided examples of some of the information an agent may not impart to their clients and examples of some responses to clients that may need “decoding”. Given all the information available to home sellers via the internet it is curious why any one would enlist the services of a trade group that is constantly under scrutiny from not only the media but the government as well. Alternative models like flat fee MLS brokers – a hybrid of For Sale By Owner and MLS listing – and discount brokers provide an opportunity for home sellers to remain in complete control of the transaction. Why hire an agent to assist in the single biggest decision of your life, if he cannot be totally trusted?
Home sellers now have the opportunity to control every aspect of the transaction. Home valuation sites like Zillow and Real Estate ABC provide accurate market analysis and pricing information which is the most important aspect of listing the home. No longer is the MLS the only source for comparative data. With information only a click away home sellers can utilize available tools to retain complete control of the transaction.
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Real Estate Commissions in Danger of Decreasing
Ever since the federal government shined a light on the real estate industry with a lawsuit against the National Association of Realtors and vigorously opposing Realtor supported state bills attempting to ban discount service models the real estate commission structure remains not only a topic of debate, but a hot button issue generating media publicity on nearly a daily basis. The internet has caused people to think, and rethink, the vale they’re receiving from their traditional agent. With homebuyers doing a majority of the work on their own and home sellers taking advantage of flat fee MLS alternatives, where does that leave the commission structure? Sellers are receiving similar public exposure regardless of whether they list for 6% or list for a low fee with a flat fee MLS broker. With the market cooling some industry members see the low or no commission models gaining market share. Other industry veterans plan to "blow up the issue of Realtor commissions". With the media whirlwind surrounding the issue it’s hard to think there will ever be another day where real estate commissions will climb.
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Industry Vets Move to Discount Brokerages
The former CEO of Realtor.com and executive for Remax International, Steve Ozonian, is just one of many real estate veterans leaving the old for new. Because the internet has empowered its consumers, flat fee MLS and discount brokers are assuming a larger market share in the industry. Consumers are aware of the added control they can assume during the home sale/purchase transaction bringing question to the current commission structure. Though some consumers see no problem with the commission structure of 5.5% to 6%, consumers should not have to use the current model. The offerings of flat fee MLS companies and discount brokers are providing services as they are wanted – you pay for what you get, not pay for what you don’t want or need.
Given the state of the MLS systems it is likely they will become more consumer friendly and less guarded. The Department of Justice is working to ensure the National Association of Realtors doesn’t discriminate against any form of competition. Advisory boards are currently in meetings to discuss the future of the MLS display of information. If the MLS information becomes even more consumer available, then it is likely we will see a continued growth in market share for flat fee MLS brokers and discount brokerages.
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The Advantages of Flat Fee MLS
With the changes in the housing market sellers are beginning to see more negotiation situations, fewer multiple offer situations, more days on market, and some listings are just not selling. Beat the changing market trend with a flat fee MLS broker. The following are the top reasons to use a flat fee broker when selling your home.
- You maintain complete control over your home sale. With flat fee MLS you will know which agents are showing your home, you set your own price, and you set your own Buyer Agent commission.
- You can market your home locally in newspapers and other print ads, just as any traditional agent would, without having to shell out 6% in commissions when you sell.
- You will capitalize on the marketing exposure offered by the Multiple Listing Service for a low fee. Statistics show over 75% of homes nationally sell through their local MLS.
- By listing in the MLS your home will appear on websites like Realtor.com, Yahoo! Real Estate, WallStreetJournal.com, and AOL.com. Your home will also appear on all brokerage websites participating with the MLS. With this added marketing exposure you are drastically improving the chances your home could sell to an unrepresented buyer saving you thousands more in commission on the buyer end of the transaction.
- Your asking price can reflect the 3% you are saving on the listing side of the transaction. Your asking price will be more competitive than any other in the neighborhood while you still keep more equity after the sale (i.e. you can lower your asking price by 1% and still keep 2% more equity than your neighbor using a traditional agent.)
- By taking advantage of all marketing avenues offered through a flat fee MLS broker your home has a greater chance of selling to an unrepresented buyer than trying to sell your home For Sale By Owner (FSBO).
- If your home sells to an unrepresented buyer and you are listed with a flat fee MLS broker, you will keep all 6% that you would have otherwise paid out in commissions. Meaning you would save $18,000 if your home sold for $300,000. If you list your home with a tradtional agent that $18,000 goes to commissions no matter what.
