A flat fee MLS listing is one way to put the power of hundreds of real estate agents to work selling your fsbo house at half of the commissions you would pay for a "full service" listing.
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
Listing agent tasks
Buyer's agent
Buyer Agent tasks
1. Put home in local MLS
2. Assist in setting price
3. Provide "For Sale" sign and newspaper ads.
4. Host an open house
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 $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 - $599
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 fee, the "listing agent" performs only one task: he puts the home in the local MLS. He or she does not assist the Seller in setting a selling price. He does not provide a "for sale" sign for the front yard. He does not place ads in local newspapers and he does not host an "open house" for local realtors and prospective buyers.
Contract Package $14.20
Real estate forms and contracts to sell or buy a home in your state. All forms are available in Microsoft Word format for Windows. Most state forms are also available for the Apple Mac, and in PDF format for the free Acrobat Reader.
Price includes Photo Tour package described below. Order now.
