It is certainly your choice as to how you would have your Home marketed. As stated you cannot list on the MLS unless you are a "REALTOR". Not even a lic'd real estate agent can. Unless they are a "REALTOR"...
A flat fee is usually a Diservice to you and any respectable marketing plan. Marketing is not cheap and it takes a lot of Tech. savvy time!
I'm ALL about Best Bang for the Buck. But "Cheap" is often a Dbl. edged sword! And a "Cheap Flat fee"???
-well, be very careful with that one, especially in trying to Sell your own home.
Selling it yourself? Well, there's a LOoooooooooooog list (too long to list) of "Bewares" like Beware of the unscrupulous Buyer looking around inside your Home. Casing out the joint, leaving a window open for later, seeing every vital detail of your Hm. security or the lack of, or even Heaven forbid; the phony Buyer who is really only interested in finding out if you are home alone... -this stuff does happen.
Get a Good professional and try to negotiate some mutually agreeable terms that will get you the Most Representation, the Most advertising, the Most Web exposure, the Most Deal negotiating power, The Most Convenience, The Most PEACE OF MIND and the Bang for your Buck!
Seriously, there are way too many ways to go wrong, Not having a dedicated Agent Specifically looking out for your BEST interests in every area is a complete Gamble and could end up costing you more then their commission...
Good Luck to you, regardless of your choice!
I have used that process several times, and used the Realtor process several times. Except for the actual cash savings (which is a whole separate subject considering some Realtors claim to get maximum value for your property through marketing efforts), it is lots of work for little return.
1) security while walking potential buyers through your home
2) other realtors work with the buyers. to be honest they won't show your home unless they are getting a commission. Also, to that point, most serious buyers work with Realtors because it's free from them as the Seller is paying them.
3) Exposure - we offer more marketing and exposure than you can do yourself. You won't know your true market value unless you get it out to as many potential buyers as possible. You may think you are saving money by not having a realtor but just as well you could be losing more than 5% on your home buy only attracting very few buyers. Consider that on top of your one time and expense to market your home.
4) You want a professional representing you and make sure you are protected within the law and trying to get you the full value of your home as we know the market better than you do.
If you want to list your home on MLS and are trying to save money, there are discount brokerages that will list your home for a flat fee. Instead of using the staff of the brokerage to set up agent appointments, you will probably have to do that function. And you will also have to do most of the marketing as their services are limited. Should you get an offer, they will most likely help you, however they sometimes will charge on an 'a la carte' system with the more services you require the more they charge.
A Realtor who simply list your house on the MLS for a flat fee is doing you an inservice. There is much more involved in selling a house than simply getting it advertised on the MLS. A very good Realtor will do extensive advertising for you however they will also handle all of the negotiations, and there will be many. Here are just a few examples of what a listing agent should do for you; Extensively market your property on multiple websites, to potential buyers and to other agents; They will be sure everyone coming to see your home is pre-approved for a mortgage; When an Agreement of Sale is presented they will know immediately if there are any red flags and take care of them at once. They will also be able to guide you in the decision as to whether or not to accept the offer as it stands or negotiate the offer. Remember not all negotations are based around the price of the home. They will make sure that your home goes to settlement smoothly.
If you want to sell your home as a FSBO here are some things you should ask yourself first. Do you know the difference between a pre-approval and pre-qualification letter? Do you know which red flags you should immediately look for in a pre-approval? Do you understand the 20 page agreement of sale as well as all of the addendums? Do you know what you are legally obligated to do with the good faith deposit monies? Are you familiar with a Seller's Property Disclosure? Do you understand the appraisal addendums? The lead based paint addendums and when they are necessary? Do you know how to get your tax certifications as well as final readings on all utilities that are lienable? Do you have an U&O in your area? Do you know the difference between your payoff on your mortgage statement and a true payoff for the closing of the property? Are you familiar with a BFI and do you understand the importance in obtaining one from a buyer? Are you familiar with the contigencies involved and do you understand the time lines? Are you familiar with the appraisal process?
Keep in mind that many times buyers who see a FSBO believe they are in for a deal since you are saving money on commission. You in essence become a target for them. Perhaps you don't mind that but it sure does waste alot of time.
The answer to your question is NO you cannot list your home on the MLS by yourself. The MLS is paid for by Realtors. We pay dues to the MLS in order to utilize it. It's strange to me that many sellers come onto this site and others asking for Realtors to send them Agreement of Sales, asking them if they can use the MLS to list their homes, want them to answer questions and get them out of the messes they get themselves into yet they don't want to pay for the professional services of a Realtor. Does that make sense to you?
Whatever you decide, good luck with the sale.
Jennifer Daywalt, Realtor
Only real estate agents can place listings on the MLS and the same goes here on the Trulia site. Your agent may have certain listing standards put in place by his Brokerage firm so the Broker may not accept flat fee listings. However, do know that all commissions are negotiable but some offices have standards they adhere to.
I suggest that you inquire with your agent as to what his Broker's policies are and if his response is not to your satisfaction; then interview agents in other firms that might be willing to do a flat fee listing.
Hope this helps.
Prudential Connecticut Realty