Shouldn’t Real Estate Commissions Be Lower?

In The Colony Texas, the Internet has made the job of a real estate agent much easier and less time-consuming. Agents don’t have to jump in the car every time something needs to get done. The 6% real estate commission system designed in the 1970’s, is still upheld by many brokerages. More than ever before, representing buyers and sellers is a tabletop business and escalating home prices don’t justify higher commissions. Researching the market is no longer an Easter Egg Hunt where only the agent knows where the homes for sale are. Tools, technology, and rules of fairness have made finding homes, writing contracts, negotiating, presenting, and executing contracts, more efficient than ever before. 

For nearly 20 years, DFWCityhomes has been a well-respected and established Flat Fee MLS Listing Service provider in Texas. Their personalized approach to each client has earned them a solid reputation for delivering top-quality service. As the leading Flat Fee MLS Listing Service in Texas, they offer exceptional and cost-effective service, and their impressive track record speaks to their unwavering dedication to professionalism, integrity, and customer satisfaction.

To learn more, visit our MLS Listing Services or Buyer Rebate Services pages. You can also Contact Us or call (214)-207-0210 to speak with a Realtor® and find out how we can save you time and money.

About The Colony

The Colony, Texas

Located in Denton County, The Colony, Texas is a bustling community that places great emphasis on fostering neighborly relationships and encouraging community involvement. Its idyllic location on the shores of Lake Lewisville is home to the impressive Grandscape development, featuring the largest home furnishings retailer and warehouse in the nation, Nebraska Furniture Mart of Texas. Since opening in 2015, this retail giant has been attracting millions of visitors annually. Visitors to The Colony can also enjoy other attractions such as Topgolf-The Colony, a renowned entertainment destination, and a variety of dining and lodging options.

Henceforth, the community is served by the Lewisville Independent School District, which has a long-standing tradition of academic excellence, with many of its schools earning the prestigious “Exemplary” rating from the Texas Education Agency. The Colony has a current population of approximately 45,000, according to the 2020 census. As a suburb of Dallas, it is a vibrant and dynamic city that offers its residents and visitors an abundance of opportunities to experience the best of Texas living.

See What People in The Colony Are Saying About DFWCityhomes

Frequently Asked Questions

What is a Flat Fee MLS Listing?

In a Flat Fee MLS Listing arrangement, a seller contracts with a real estate broker to list their property on the MLS (Multiple Listing Service) for a flat fee instead of paying the traditional percentage-based commission to the listing agent. This allows the seller to save money on the listing side of the transaction while still getting the exposure and marketing benefits of the MLS.

When sold, the seller is responsible for paying the buyer’s agent commission, which is typically around 2-3% of the sale price. This type of arrangement can be beneficial for sellers who want to save money on the listing side of the transaction and have some experience in real estate transactions, but it is important to note that the seller may need to handle aspects of the selling process themselves.

What is a Buyer Rebate?

When buying a home, the seller pays a buyer agent commission. Our rebate is one-third of that commission paid back to you as an incentive to do business with us. You save a lot of money and can use your rebate for anything you want.

What is a Multiple Listing Service (MLS)?

An MLS is a centralized database used by real estate brokers and agents to share information about properties for sale, providing detailed information including the listing price, property features, location, and other important details, and increasing visibility for potential buyers.

The MLS is run by local or regional realtor associations, and offers full market exposure to buyers and sellers, with more than 800 associations across the USA. According to National Association of Realtors (NAR), MLS transactions accounted for about 92% of home sales in 2020. Overall, the MLS promotes transparency and efficiency, making it easier for buyers and sellers to connect and complete real estate transactions.

MLS listings are an essential tool for both buyers and sellers in the real estate market. Buyers can use the MLS to search for properties that meet their specific criteria, while sellers can use the MLS to get full exposure to the marketplace, offering their properties to a large audience of potential buyers. Overall, the MLS helps to promote transparency and efficiency and makes it easier for buyers and sellers to connect and complete real estate transactions.

What is a For Sale By Owner (FSBO)

FSBO is a real estate transaction where the seller chooses to sell their property without an agent. The seller assumes responsibilities such as pricing, marketing, negotiating offers, and managing the closing process. FSBO transactions are typically undertaken by sellers who want to save money on real estate commissions or have experience in the real estate industry.

However, FSBO transactions can be challenging as the seller may lack the experience and resources of an agent. It is important for sellers to weigh the pros and cons before deciding to go this route. Working with a reputable and experienced real estate agent or broker can provide valuable expertise and guidance throughout the selling process.

What is the difference between a Flat Fee MLS Listing and traditional Realtor® 6% listing service?

A Flat Fee MLS Listing is different from a traditional 6% listing in how the real estate agent is compensated. In a traditional listing, the seller pays a percentage-based commission of typically 5-6% of the sale price to the listing agent, who then splits that commission with the buyer’s agent. In contrast, a Flat Fee MLS Listing involves a flat fee paid by the seller to the agent for listing the property on the MLS, with the commission paid to the buyer’s agent usually specified separately. While the fee structure is the main difference, there are also differences in the services provided.

In a traditional listing, the listing agent handles most aspects of the selling process, while in a Flat Fee MLS Listing, the seller is responsible for some tasks. It is important to research providers and understand what services are included in the fee. Using a Flat Fee MLS Listing can avoid the conflict of interest in dual agency, where an agent represents both the buyer and the seller. Ultimately, the choice of listing service depends on the seller’s goals, preferences, and comfort level with the selling process.

What is the difference between a Flat Fee MLS Listing and a FSBO?

FSBO sellers avoid some or all of the buyer and listing agent fees and commissions but also do all the work and don’t get full market exposure, as marketing in MLS. MLS requires paying a buyer agent commission regardless of the type of listing service.

FSBO’s do not get full market exposure. FSBO transactions accounted for only 8% of home sales in 2020, according to National Association of Realtors (NAR). Regardless, the volume is far short of those sold through an MLS. Additional help with full representation, including pictures, lock box, signs, flyers, showing service, negotiating, closing, and market analysis, may cost more.

What questions should I be asking brokers and agents?

What are the fees and commissions?
Do you help with pricing strategies?
How will you market my property?
How will you schedule appointments?
What is your track record?
How do you provide representation?
Who is the central point of contact for buyers and buyer agents?
Do you provide transaction and closing assistance?
How long will it take to get my listing in MLS?
How are documents completed and signed?
How do you communicate with me?
Who is the point of contact?
*Some features excluded in the Limited Flat Fee listing Service

What are my closing expenses?

It is critically important that you fully understand your costs and timing obligations before pricing your home, and executing and negotiating a contract. We 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 offered to correctly understand the offer in hand.

How does the buyer agent get paid? Why am I paying a commission?

The top reason for using a real estate agent is that the majority of buyers in the US are represented by an agent, according to the NAR’s 2021 Profile of Home Buyers and Sellers. 87% of buyers had an agent in their most recent home purchase, and the seller typically pays the buyer’s agent fee, which is set in the listing agreement. This compensation system promotes cooperation between brokers and ensures fairness. 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, buyer agents can know what earnings to expect without becoming a party to a transaction. The amount you pay is negotiated in your listing agreement.

What should I do to get my home ready to sale?

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.

Should I make repairs to sell my home?

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.

How will I see where my home is shown on the Internet?

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. 

We make sure to list your home on a wide range of websites, including Realtor.com®TruliaZillow, and various real estate firms. In addition, we also post your listing on social media platforms such as FacebookTwitterPinterest, and more.

What are the steps involved in selling my home?

Selling a home requires an accurate asking price and understanding of selling options. Homeowners can choose to sell on their own through a For Sale By Owner (FSBO) arrangement, but this can be complex and time-consuming. Many prefer working with an experienced real estate broker or agent, who can provide expertise, guidance, and support throughout the process.

Steps include determining the home’s value, establishing timeline and budget, choosing a listing service, preparing the home for sale, marketing the home, receiving and reviewing offers, negotiating the sale, completing the sale, and moving out. These steps can be complex, which is why many homeowners prefer to work with a brokerage such as DFWCityhomes. Click here to Submit a Request For a Proposal.

What is a REALTOR®?

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

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