Flat fee MLS listing service is a practice of hiring a certified real estate broker to enlist your home to MLS (Multiple Listing Service) database for a fixed priced. Also referred to as “entry only” listing, this designation allows your property to be exposed to many other real estate websites like Realtor.com so you can reach out to more potential buyers and sell your house quickly (given that 90% of house buyers nowadays are checking MLS while searching for their next home).
But as a savvy seller, what does it mean to hire a flat fee MLS service? What are the possible benefits of having a flat rate realtor over a traditional house agent? Read on further as we are going to know more about this topic in this entry.
Earn More Profit As You Sell Your House
Let’s face it, the only way for a traditional broker to earn money is by charging a 6% commission to the selling price of your house. Now this number may look insignificant at first, but if you try to look closely you are losing $30,000 in broker fees alone if your house is valued at $500,000. So they will try to persuade you as best as they can in order to acquire that big fat commission from you.
But that won’t happen if you hire a flat rate realtor as they will gladly enlist your house to MLS for a fraction of the price. In short, you are effectively removing one variable from the selling equation that might hinder you from getting the best profit possible regardless of how the negotiation will turn out with prospective buyers.
As a result, you gain a competitive edge if you use a flat fee house agent because even if your house is valued as the same as other homes in the MLS listings, your profit margin will still be bigger compared to other sellers.
Give Sellers A Chance To Be Involved In The Selling Process
While traditional brokers offer a professional approach in handling the transactions of selling your property, there are experienced sellers who may not necessarily require this full slate of service especially if they want to be involved in the selling process.
So why pay for something that you don’t really need, right? If you want to actively participate in the selling process and is open to answering inquiry calls and schedule property viewings, then having a flat rate broker will be a wise choice for you. After all, it pays to have a little effort on your part than sacrificing a substantial commission to someone to have your property enlisted in MLS.
You Have Full Control Of How The Sale Goes
Once you enter into a flat fee MLS listing situation, you as the owner will also act as the agent of your property. And you maintain full control of all aspects of your sale. Meaning, you have the freedom to choose how and when your house will be marketed and eventually decide which prospect will have the opportunity of buying your home.
Now, this type of control is something that you don’t usually get from traditional realtors as they are more likely grab the first profitable opportunity that they can find to secure their commission right away.
All in all, choosing a flat rate realtor over a traditional realtor is really beneficial to you as a home seller as you can save thousands of dollars in selling transaction. Because getting enlisted in MLS database doesn’t need to be pricey if you can get the same volume of exposure for just a small amount. And this option is what savvy sellers should capitalize in order to maximize profit.