When it comes to Real Estate Sales, there is an old saying about wanting the best of both possible worlds, full service at discount prices. We’re not sure exactly where that came from, however we do know that home sellers can now experience that in an increasing number of markets. In a nutshell, For Sale By Owners, FSBO’s, can now try to sell their homes on their own and are allowed to enter the multiple listing service. What does this accomplish? It is a proven fact that the MLS is the most successful way to sell a home. The cooperative of agents in the MLS service that interacts with the Internet gives the seller the best way to put their home on the market.
Many sellers say that I would like to use that service, but I don’t want to pay 6 or 7% to do so. Those same sellers say I’m willing to pay 3% to someone who brings me a buyer, but I don’t think the real estate agent deserves the 3%. Now several companies offer this service. For a small flat fee of about $500, the seller goes on the MLS and other local and national websites and can even advertise on their own to find a buyer. If the seller is successful on their own, a small fee or even no commission must be paid to the listing agent depending on the deal and services desired.
Why would an agent do this, to get more business? If they sell the house, they get 3%. They can get other buyers from the listing to buy other properties and get more listings. Everybody wins. The seller can have more flexibility in pricing, offer bonuses to the listing agent or closing costs, trust us, it works. Neighbors see their neighbors’ houses being sold and it all generates more business, and allows the seller more flexibility to sell their house and make more money from the sale.
The seller can use these savings to help the buyer with closing costs or lower the sales price, or they can pocket the savings and use it as a down payment on their next home. Simply put, fixed fee multiple listing services, for sale by homeowners, provide the marketing power of MLS without paying full price for both sides of real estate commissions, saving you thousands of dollars. dollars on the sale of your house.
