Look online for properties that are for sale RIGHT NOW in your area that are using Flat Fee or Discount Brokers. Visit the property, or call the owner. Ask the Sellers if they are satisified with the price and service. Go directly to the source. You want first hand information to make an educated decision on what is the right choice for you.

Thu May 8 2008, 13:05

Many options exist. Our firm is a full service real estate marketing firm that provides Sellers with the best of both worlds:

- An opportunity to save a significant amount of money (your EQUITY) versus the traditional 6% commission.

- A comprehensive marketing program focused specifically on the internet (statistics indicate that 85% of Buyers start out looking on the internet).

- FULL transactions support services.

- FULL TIME Professional representation (why would you want a part-time agent representing you and what is most likley the largest financial asset that you own?)

- Proper PRICING, proper PRESENTATION and proper MARKETING will position your home to sell, regardless of the market conditions.

Please contact me if you have any further questions.

Vito Boscaino
Managing Partner / Realtor / MBA
Help-U-Sell North High Realty
614.447.3050

Fri Nov 30 2007, 16:35

Interview Realtor Pros and see if they will accept your offer.

Wed Nov 28 2007, 16:00

With today's market, I completely understand many sellers needing to sell their homes with as little fees as possible. However, many MLS only listing companies will only list your home for X amount of days and will require you to pay the flat fee again to keep your home listed. This fee is a fee that you pay regardless if your home sells or not and basically, you get no representation when it comes time to negotiate the terms and inspections, just to name a couple. There are many FULL service real estate companies that have reduced commissions, so I would recommend interviewing a few agents to see exactly what each agent offers and their statistics.

Fri Nov 23 2007, 14:30

Actually, the truth is that homes that sell within 30 days consistently sell closest to list price. Month in, month out. As I mentioned, not all companies are accurate in their portrayal of their services.

The best way to Net the most at closing , is to interview Realtors, pick the best one, and go from there.

Wed Nov 21 2007, 20:26

I work for a full service brokerage, however have recently entered the arena of doing some flat fee listing agreements with a few clients. I have not changed my service package, only the amount of money I receive on the transaction, as I will never compromise the level of service we provide our clients. Currently, we sell 78% of our listings in 90 days or less, which is much better than our MLS stats of 49% of homes that sell in that amount of time.

Our limited or no service brokers seem to have very similar stats to those listed in Keith's research, and I have found that most of the clients that I have contacted upon expiration of these were so hungry for some service they did not care what the commission was, they just wanted the house sold.

Bottom line is simple: Do you want your home sold for a reasonable price, in a reasonable amount of time with top level service? Or, do you want to wait a long time on your house to sell (p;aying more holding costs), have little or no service, only to settle for a lower price than you should have because you have no one negotiating on your behalf.

What I have found in my limited time in offering discounted fees for full service listings is that people act as if they do not care about service, but still want it. The brokers that are limiting the amount of service they give sellers in today's market will not be with us for long because their method simply does not sell homes. it takes so much more effort to sell in a market with more inventory than buyers - which is exactly where most of Columbus is (I am in Dayton, and we are very similar to the Columbus market right now).

Either way, only you can choose, but I agree with keith, both from my research and market experimentation - lower commissions do not get your home sold, and when they do, it is usually for a price lower than a full commission agent would have brought you.

Take a look at our website and you can see what we have done to address the clients who want a flat fee listing - just keep in mind that we are not limiting our service on this. We are simply doing this in conjuncition with a market research group to gather statistics in our market so we can see for ourselves what the differences in the two listings are.

Good Luck!!

John Youker

Wed Nov 21 2007, 20:09

Jts
You can easily go into Google and find MLS only brokers. Some charge a flat fee, some are free, some have graduated scales.
I should tell you that I did a recent market analysis of MLS only brokers performance in our local MLS, which covers a great deal of the LA area. Stats are from January 1, 2007
MLS only listings Sold 25 Expired ( did not sell) 22, so one has an 88% chance of your home not selling
Limited service 16 Sold, 17 Expired, so you have 106% chance of your home not selling
The above combined 41 Sold, 39 Expired, 95% chance of home not selling.
Full service 4,203 Sold, 3,280 Expired, 78% chance of home not selling

An interesting stat: Days On Market (until listing enters escrow.
MLS only 92
Limited Service 58
Full Service 63

List Price versus Sale Price Ratio
MLS only 97.9%
Limited Service 95.2%
Subtotal 96.5%
Full Service 97.3%

So, if you listed your home with a "non full service" broker (now, bear in mind that not all MLS only nor limited service brokers market themselves with that label)
Let's say that homes sell for $400,000.
That means that
Full Service you would get $389, 200 Days on Market 63
MLS only $391,600, Days on Market 92
Limited Service $380,380 Days on Market 58

So here are your options:
If time is no object, List with an MLS only broker,
If money is no object, use a limited service broker
If time and money are issues, use Full Service.

Good luckl
Just looking at the numbers what would you do?

Wed Nov 21 2007, 19:28

The stats are not much different in Georgia. Not only do flat fee listings otherwise known as no service listings have fewer opportunities to sell statistics show when they do it is for less than those that are listed with a full service and full representation brokerage. In the end you save nothing and you gain frustration.

Wed Nov 21 2007, 19:23