real estate forms, purchase contracts and detailed home selling tips for selling by owner

Home selling tips...

Everything to sell your own house: fsbo selling tips, real estate forms & contracts, plus detailed instructions.
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fsbo tips for selling your own home plus real estate purchase contracts and legal forms.    
         
 
How a flat fee MLS works
 
 
 
 
Find a Provider in your state
Find flat fee MLS service providers
& Sell Fast
 
 
 
Flat fee MLS services
 
 
 
 
 
Wide Exposure to Buyers
on the Internet
Six month listing in local MLS
Listing in Realtor.com with 1-10 pictures
 
Your home listed on affilated websites such as:
Plus listing at major broker sites:
and hundreds of others
See your home on IBS network channels:
 
 
 
Why flat fee MLS works
Most Buyers use real estate agents,  and Most real estate agents use the MLS to find properties for their buyers.
Flat fee mls works because there are two real estate agents involved in the sale of almost every house: the "listing agent" who works with the Seller, and the "buyer's  agent" who works with the Buyer.  

Listing Agent Typical Listing agent tasks   Buyer's agent Typical Buyer Agent tasks
Seller's real estate agent
  1. Put home in local MLS
     
  2. Assist in setting price
     
  3. Provide "Home For Sale" sign and newspaper ads.
     
  4. Host an open house
     
  Buyer's real estate agent
  1. Search MLS for homes that match Buyer's  wishes.
     
  2. Take Buyers to see homes.
     
  3. Prepare offer and assist with negotiations.
     
$6,000  (3%)   $6,000 (3%)

On a $200,000 house, the Seller typically pays 6% commission ($12,000) which is split evenly, with the "listing agent" getting 3% or $6,000 and the  "buyer's agent" getting the remaining $6,000 (yes, the Seller pays the "buyer's agent"). 

  A flat fee listing eliminates the $6,000 that goes to the "Listing Agent"  
  and replaces it with a "flat" fee of
$199 - $499
 
 
 
  The Seller is still obligated to pay the Buyer's agent but in most areas the Buyer's agent will accept 2.5% or $5,000 in our example of a $200,000 house.  
 
 
  Instead of $12,000, the Seller pays $5,000 plus the listing fee for a savings of over $6,000  

   

No Free Lunch!
For his relatively small Flat Fee, the "listing agent" is obligated to perform only one task: he puts the home in the local MLS. He or she is *not required to:
  • Assist the Seller in setting a selling price. 
  • Provide a "Home For Sale" sign for the front yard.
  • Provide a "lock box" so agents can show the house when Seller is not at home.
  • Answer phone calls from prospective buyers who want to see the house
  • Write and place ads in local newspapers
  • Host an "open house" for local realtors and prospective buyers.
     
 
But that's Okay! Our website provides:
 
As part of putting the home in the local MLS, the "listing agent" must get the Seller to sign a "Listing Agreement" that specifies both the "flat fee" and the 2.5 - 3% to be paid to a "buyer's agent."
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