A “Flat Fee MLS Listing” refers to the practice in the real estate industry of a seller entering into a service agreement with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction.
Today, through more than 800 local and regional MLS associations across the USA, brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer. Sellers benefit by increased exposure to their property. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker.
Abbreviated as FSBO, a home offered for sale without the assistance of a real estate agent. As a FSBO, you’re responsible for everything from start to finish. Pricing, staging, listing, marketing, negotiating, forms, contracts, legal compliance, and closing the transaction are your responsibility. FSBO’s receive a ton of calls from agents trying to get an MLS listing.
The cost of the listing is a fixed amount not a percentage.
Upfront set up fees are common with Flat Fee MLS Listings.
Features are bundled differently and vary with different providers.
Flat Fee MLS Listings avoid conflicts of interest.
We know the FSBO seller does all the work to avoid agent fees and commissions. For starters, to market any property in MLS, you have to pay a buyer agent commission of 50% of what would have been paid to a traditional 6% agent. When you go the bare bones Flat Fee MLS route, the broker at a minimum is responsible for creating the listing, scheduling open houses and making any updates. If you want additional help with pictures, lock box, signs, flyers, showing service, negotiating, closing, market analysis, you may pay more.
What are all the fees and commissions? (Avoid hidden fees)
Do you help with pricing strategies? (Get a market analysis and explanation)
How will you market my property? (MLS, photos, web sites, sign, flyer)
How will you schedule appointments? (You or a showing service)
What is your track record? (Past performance, how many deals are you working)
How do you provide representation? (Who is the point of contact, who handles negotiation)
Do I have to speak to buyers and their agents? (You or agent)
Do you provide transaction and closing assistance? (You or agent)
How long will it take to get my listing in MLS? (Days or weeks)
How do you communicate with me? (Email, text, phone, help desk)
It is critically important that you fully understand your costs and timing obligations before pricing your home, executing and negotiating a contract. Your agent should help you understand your closing expenses at the time of the listing based on your approximate list price. When an offer is received, contract terms can be different based on timing and terms and another evaluation is required to correctly understand the offer in hand.
Buyer agent fees are always confusing. Real Estate is a unique industry in that the Seller sets and pays the representation fee for the Buyer. The compensation system was developed to encourage cooperation between Brokers and promote fairness. With this system, cooperating agents can know what earnings to expect without becoming a party to a transaction. The amount you pay is negotiated in your listing agreement.
The way you sell a home and live in a home are different things. The foremost number one thing to do is, “declutter” counters, walls and rooms. I walk into showings all the time and the garage is stacked floor to ceiling with Tupperware crates of removed clutter. Clean and make attractive all rooms, furnishings, floors, walls and ceilings. Make sure the basic appliances and fixtures work and get rid of leaky faucets and frayed cords. Make the house smell great.
Making repairs leads to a better sales price and a faster sell. It’s not always an easy decision about what to do and how much to spend. Your market analysis and agent should assist you in making repair decisions.
It is simple, in considering listing services, enter the property address and Google search some of their active listings. After your listing is live, Google search your property address. You will see all the major sites on the first page.
When making a decision to sell your home, you need to establish an asking price and understand your proceeds. While some sellers successfully sell their homes on their own, a For Sale By Owner (FSBO) arrangement is complicated and risky requiring a great deal of personal time and expertise through the process. For this reason, most people consider the fee paid to a real estate Broker worth the investment, for the convenience, time savings, and overall guidance provided. In choosing any MLS Listing Service, make sure you understand what will be provided and at what cost.
DFWCityhomes is an established Flat Fee MLS listing Service and Full Service real estate company that represents buyers and sellers in Lake Dallas, Texas. Our clients receive a full service experience with agent representation at a fraction of the cost. Our simplified process is hassle free, proven, and effective.
Interested in learning more? Watch this video and click MLS Listing Services and Buyer Rebate Service to see how we may help you. Contact Us or Call (214)-207-0210 and we will explain to you how our services can save you time and money.
Our MLS Listing Services Features Include:
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Tod Franklin REALTOR®
9243 Vinewood Dr
Dallas, TX 75238
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Lake Dallas, Texas is a resort community on the shores of Lewisville Lake ten miles south of Denton in southeastern Denton County. The site was occupied in 1852. The area offered water, timber, and farmland, and the community that developed in the vicinity was originally called French Settlement, after the family named French who settled there
The city is encouraging and helping to develop its downtown area into a tree-lined, thriving area of historically accurate brick buildings filled with shops, restaurants, offices and living spaces. The Lake Dallas ISD provides quality education so that students may reach their full academic and social potential. Lake Dallas is in Denton County, Texas, United States. The population was 7,105 at the 2010 census.
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Frequently Asked Questions
- What are the minimum services a broker must provide?
- Welcome to the DFWCityhomes glossary!
- How are we different from other residential real estate agencies?
- How can you afford to offer discount real estate services?
- Is there a best time to buy and sell a home in DFW?
- I am planning to sell my home soon. What tips do you have?
- What is ShowingTime?
- What are some of the most important considerations when buying and selling a home?
- What is the Multiple Listing Service (MLS)?
- Do you have any hidden fees for your services?
- What is the difference between a Flat Fee MLS Listing and Full Service MLS Listing?
- What is title insurance?
- What is the difference between DFWCityhomes Flat Fee MLS Listing Service and other flat fee listing services?
- Why are great pictures so important?
- How does the buyer Realtor® get paid? Why am I paying their commission?