Home Selling in 29229>Question Details

Theresa M, Home Seller in South Carolina

Are there any agents in Columbia, SC that would be willing to list my home in the MLS for a flat fee?

Asked by Theresa M, South Carolina Sun Jun 29, 2008

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Here is an MLS only company that you can use.
However, I should warn you that if I were you, and I wanted to maximize the net profit, I would examine all the methods of selling and select the best one for my needs.
1. Full service Realtors (interview three) Ask for an Estimate of Seller's net proceeds.
2. Limited service Realtors
3. MLS Only services.

I studied the RESULTS of these three types of services in my mls and this is what I found:
1. The highest sales price to list price ratio was Full service Realtors. (by 2.6%). That means that the other two options sold for 2.6% LESS than full service. So if a home was listed for $100,000, it averaged selling for $97,000 with full service. With the other two it averaged $2,600 LESS the that...$94,400.
2. The expiration rate - the number of home LISTED for sale, versus SOLD was also much lower. The full service Realtor average a rate 33% better than the other two. That means there is a BIG difference between listing a home, and actually closing escrow.

3. Days on market - Full Realtors average fewer days on market.

So if you have money and time to burn, go discount, as long as you don't really need to sell.
If time, money, and selling are important, then, after your interviews, you make the call.
Web Reference: http://iggyshouse.com
2 votes Thank Flag Link Sun Jun 29, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
I thought this article was interesting...

ForSalebyOwner.com founder gives up on own listing, hires real estate broker
by AGBeat in News - August 3, 2011
Former FSBO CEO sells home the traditional way Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on ...
1 vote Thank Flag Link Tue Nov 27, 2012
As a SC consumer you have the right to choose whom ever you please to represent you in the sale of your home, be it a Full Service Realtor, Limited Service Realtor or MLS Only service.

However, I should warn you that if I were you, and I wanted to maximize the net profit, I would examine all the methods of selling and select the best one for my needs.

1. Full service Realtors
2. Limited service Realtors
3. MLS Only services.

Studies show that Full Service Realtors net a higher list to sales price than the Limited service realtors and MLS only services by and average to 2.5% to 4%. Let's put that into perspective, if your home was listed at $200,000 and the average sales price using full service realtors is $195,500, and using the limited service realtors and MLS only service nets you 2.5% to 4% less than the full services realtors that would be an average between an additional $4500 - $8000 or a sales price between $190,500 to $187,500.

Putting the house on the MLS, Putting a sign the yard and Praying that someone sells it no longer works. Lets me honest when you want information about a store or a product where do you go firsts....Google, I know. If you are you are not actively marketing your house to sell using the same tools that National Association of Realtors (NAR) says over 90% of the home buyers start there search with like, Google, YouTube, Facebook, Twitter, Bing, Yahoo, LinkedIn and the list goes, then your home is really not for sale.

So if it is the illusion of saving money then go discount as long as you don't really have to sell your home. Do your homework, and see what the cost really is for you not to use a Full Service Realtor.
0 votes Thank Flag Link Wed Mar 19, 2014
With our flat fee at Real Estate Advocates we offer Limited to full service. For those that feel comfortable going it alone, they can elect the $299. For those that want the expertise of a Broker with 30 years experience who has sold over 1500 homes you can go the full service route for $799. On a $200,000 house the savings can be between $5000 -$11,000 . More importantly, you also have a professional who is full time in Real estate with other Agents working on his team, that have more experience and sales then many of the Brokers and Agents for other full service Companies in the area. Saving money and getting call backs, and a Broker and staff who work 7 days a week is a significant value for the money. If you use us to by we give you rebates that are often higher then the fee paid for the Listing which is legal in S.C. Other companies try to manipulate you into thinking beggar is better and their marketing sells homes. Statistically this is not true. It is placement in the local MLS , and automatic placement on 100's of local Agent sites and 50+ national sites. We have been doing this for 23 years in Columbia and gladly give references.
0 votes Thank Flag Link Wed Mar 19, 2014
I guess my best answer would be for you to decide which is more important to you at the end of the day, what commission did you pay or what your net was? sometimes people get caught up in the details and forget what their actual target is. My suggestion would be to talk with a Realtor that can give you a true market evaluation and an actual sellers net sheet.
0 votes Thank Flag Link Wed Feb 2, 2011
We have sold thousands of homes with flat fee Listings. Some sold in 1 day for full price resulting in savings of $40,000 in commissions. With prices going down, why give away 3-6% for commissions when you have a choice not to. The old model was challenged and welcome to free competition. You are in the same MLS, same local company sites in the MLS that are local, and same national sites like Realtor.com, and Zillow. Do the math. Most listings are not sold by the listing agent. You can pay less to list, get similar exposure, and have a By Owner option. That is the real deal.
0 votes Thank Flag Link Tue Dec 7, 2010
An agent who was full service said your house may be on the market longer with a flat fee. This is somewhat misleading. With a flat fee you can save 3-6 % in the selling price. With the savings you can offer closing costs, or bonuses to agents selling the home. Both can make the sale happen quicker. Real truth. Location sells 1st. Condition sells second. Price sells third. 2 of the 3 are a given. Price goes to the Flat fee Broker. Now, you know the rest of the story. Our Principles come before our profits.
Web Reference: http://www.scflatfeemls.com
0 votes Thank Flag Link Tue Dec 7, 2010
Real Estate Advocates is the largest and OLdest Flat fee Columbia in Columbia. Since 1991 we list for $299 with a By Owner Option.
0 votes Thank Flag Link Mon Dec 6, 2010
Real Estate Advocates has been doing flat fees in Columbia. Since 1991. We are located there and have a company with a number of agents that can help. Be careful of referral companies and Flat fee companies that are not local who cannot offer the same level of service. Call Bob Mandel Broker Owner 803-446-8361.
0 votes Thank Flag Link Wed Nov 24, 2010
Hello Theresa,

I welcome the opportunity to meet with without obligation to dicuss the pros and cons of marketing your home for a flat fee.

I look forward to speaking with you very soon.

Thanks

Howard Rose II
Coldwell Banker United, Realtors
10040 Two Notch Road, Columbia, SC 29229
O-(803) 788-2811 EXT 124
M-(803) 800-4448
hrose@cbunited.com
http://www.cbunited.com/howardrose
0 votes Thank Flag Link Mon Jun 30, 2008
Theresa:

UNDER NO OBLIGATION, I'd be more than happy to meet with you at my Saint Andrews office and DISCUSS your desire and the legal limitations and/or ramification(s) of listing the home on Westhaven for a flat fee?

I look forward to hearing from you soon!

Sincerely,

David A. Patterson, Broker CRS
Keller Williams Realty
4400 Saint Andrews Road
Columbia, SC 29210
(803) 429-9010

Visit My Blog - Your Comments are Welcomed
http://www.ThePattersonFiles.info/

http://www.davidpatterson.net
http://www.CRS.com

"A journey begins with a designation in mind."
0 votes Thank Flag Link Sun Jun 29, 2008
Though I would not be willing to, here is an article I wrote on Discount Brokers vs Full Service Brokers in Columbia SC Real Estate. http://www.columbiascrealestatehomes.com/columbia-sc-real-es…
0 votes Thank Flag Link Sun Jun 29, 2008
I did try and use a flat fee company that I found online but I ended up getting a refund because the contacts they used in SC were no longer in service. I thought if I could find someone directly I might have a better experience.
0 votes Thank Flag Link Sun Jun 29, 2008
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