Iâ€™m a flat fee listing broker in SW Florida and I just wanted to mention on this forum that listing with a flat fee broker is much better than going the traditional route. With so many traditional Realtors speaking against the flat fee model on the forum I would like to set the record strait. I could give you thousands of reasons not to list with a traditional agent but here are just a few:
1. With a traditional broker, if you sell your house to your neighbor, a friend, even a family member the day after you list, then the traditional listing broker will typically take 6% of your sale price. With a flat fee broker such as myself you would only pay $495. (Most flat fee companies allow you to sell your house on your own and pay No Commission.)
2. Listings with flat fee brokers usually have better internet exposure than with traditional agents.
3. As a seller, the most important marketing tool for your house is your local MLS. If your property is priced right, listed in the local MLS, and offering a competitive commission to the buyersâ€™ agent, it should sell.
4. Because of all the local Boards of Realtors it is advantageous to list with a local broker who is aware of all the rules and regulations of the local board. Today, you can find a local flat fee broker for most places in Florida.
5. Many flat fee brokers offer additional services such as representation for a discounted rate. For example, I offer â€œfull serviceâ€ for an additional 1% paid at closing.
6. Flat fee brokers generally do more volume and are more experienced.
7. Flat fee brokers can provide everything you need to sell your real estate at a fraction of the cost of traditional brokers.
8. Real estate sales have not changed much in nearly 100 years. Traditional agents are dinosaurs. Flat fee brokers are the way of the future.
If you list with a full service agent, you can't sell your property to an unrepresented buyer and avoid a commission. Whereas with flat fee, you can. With full service, the agent gets paid their 6% commission regardless. If a flat fee listed seller finds a buyer that doesn't have an agent, they would walk away only paying the flat fee listing fee. If an agent does bring a buyer to the equation, then the seller only pays about 3% commission instead of 6%.
In actuality, a full service agent doesn't really do much different as far as advertising. Both a full service agent and a flat fee agent list in the MLS. That exposure is the key...and it's totally different than being just a straight FSBO. I personally know dozens of people who have listed flat fee and sold quickly and smoothly. One such site that is reliable source is ADDvantage Real Estate.
There was a time when For Sale By Owner or Flat Fee MLS was sufficient enough, but unfortunately in this market it is no longer JUST IT. Everybody has an online presence, but do they have the resources and finances to draw traffic to their sites. Seeing, as the internet is our number one tool, take a look what will TRULY make your property stand out, show more often and ultimately sell in the shortest time and best & highest price.
Please give me a call if you have any other questions regarding the pros and cons of trying to sell your home this way.
Coldwell Banker Residential RE Boynton Beach
I am a Florida flat fee MLS broker that does represent sellers for a flat rate...flat fee does NOT means necessarily that you are not represented...$799 and $150 at close gets our service called ADDvantagePlus. It offers more Internet marketing than any full-service Realtor has available to them plus, you get me to negotiate all offers...25 years as a Florida licensed broker. And yes, get representation even if you list flat fee for many reasons:
1) Realtors have been doing business with each other, not dealing directly with sellers, since 1912. They prefer working with another licensed professional.
2) Realtors (buyerâ€™s agents) see flat fee (self-represented sellers) as more work than working a deal with a traditional listing...which is true.
3) Some Realtors will shun a limited service listing (illegal) but not an ADDvantage Plus listing (just like full-service but we donâ€™t show).
4) Negotiating for yourself against a seasoned Realtor is not advisable because contracts have many moving parts: (i) repair limits; (ii) getting an offer on a FAR v. FARBAR contract can make a difference; (iii) seller concessions; (iv) inspection report and the negotiations that must be done after a contract is signed; (v) represented sellers get more for their property, in my opinion.
Broker for ADDvantage
Everthing said is correct...let me ad this...it makes no sense for you to allow me to come in with a buyer, negotiate against you, close the sale and have you pay me! You would pay me to negotiate against you? BAD IDEA!
JD "Dan" Weisenburger, Vanguard Realty, Inc. GMAC Real Estate (North Florida)
There are MANY MLSOnly Brokers in South Florida, but I don't recommend using them. If you pay a flat fee just to get your house listed in the MLS, that is a road to nowhere.
DISCLAIMER: I do not work in S. Florida, so this is my professional opinion across the board.
A house sells because it is priced right, you can get in to see it, and it is exposed to as many people as possible. Period. Therefore, without a professional negotiator on your side, whom you don't even have to pay if you don't want to, UNLESS they are successful at selling your house, that is as good as it gets.
Secondly; There are professional real estate consultants like me, who will do certain services for a set fee, negotiation, marketing, answering inquiries or emails, draft the contract, etc OR do the traditional commission model.
The difference is this: Just putting your house on the MLS by someone who you will never hear from again, and expecting the selling agent to sell your house, go through more trouble because they are doing both sides of the transaction, is not the answer.
You will make more money, save time and stress, and be able to move on with your life by using a competent professional. I can't even imagine people selling their biggest asset and wanting to use a data entry clerk just to put it in the MLS. That is like doing do it yourself heart surgery.
Get a good agent in the area where you house is, price it right and it will sell if someone can get into see it...and think of all the money you'll save by not making that mtg payment of which 99% is interest and does not pay off your loan! If your mtg payment is $2000. Your principal pmt is prbably $30 bucks (get your coupon book out and look). what this means is every month you DON'T sell your house, COSTS you almost $2000. (substitute whatever your actual numbers are) and you want to save money by hiring a data entry person on the cheap to sell your biggest asset?
I just don't 'get it'......but I hope you do. Now, go look for a good agent and forget about the MLSonly route. Even though I know them all, I don't believe in their business model. They make their money in volume, do nothing more than put you in the mls (5 minute job) and you never hear from them again.
I hope this helps and sheds some light on the education that the general public needs to know about real estate. It isn't what you pay someone to sell your house, it is what you end up with in your pocket and how many brain cells you have left when it is all over with.
As for individuals who are not REALTORS, I don't believe that has ever been allowed. But there are brokerages who will allow you to list your property with them for a flat fee and they will insert it. I'm pretty sure you can even choose multiple MLS locations, with a sliding fee scale.
However, in the last couple of years, I've seen less and less of those types of brokerages. As of right now, I only know of one company in our area that has that business model.
I hope this can at least help to point you in the right direction. Since you're asking about South Florida, there are probably more brokerages with different business models, since there's a higher population and more inventory.
I'd just google your request.
IMHO you will find that particularly in a soft market, the expiration rate (rate at which homes sell or fail to sell) is lead by MLS only services. I suggest interviewing some Realors, when you make the call.
If your market is going down then I recommend hiring a professional.
Ask agents on this site to provide "sold" numbers of flat fee agencies and then ask the local remax, coldwell banker agencies for their "sold" numbers for the last 6 months
Get ready for a good laugh!
then they say, Pay me, pay me!
Fact, if you couldve sold your home yourself, it would be sold.
How does paying a bottom dwelling scum sucking agent, who does nothing for you, gonna sell your home?? He doesnt! He just takes your money!
Your out $500 bucks.
When you bought your home, if purchased thru an agent, you paid the commission!
Yes you did!
You got a mortgage, handed the check to the seller, they took part of your money and gave 6% to the listing agent!
When you sell your home, that buyer will hand you a check, and again you will hand 6% to the person who positioned your asset for purchase.
You never lose when using a FULL SERVICE realtor
I live and specialize in our area as I am less than two minutes from your neighborhood. There are plenty of ammenities, shopping, etc. . . and new commercial and residential developments going up within 2 miles of your home. You live in a desirable neighborhood and it wouldn't make sense to miss out on buyers by limiting yourself to simply a flat fee MLS. There was a time when the MLS was enough, but today (especially in this market) marketing, marketing, marketing is key. It is a numbers game so basically the more people that see your home, the greater the chance of receiving an offer. The more offers you receive, the greater chance or negotiating the best and highest price possible. Contact me so I can stop by and preview your home. Let me show you why we are the number one company in Palm Beach County.
Basic Flat Fee MLS Listing $349....MLS ADDvantage
Advanced Realtor to Realtor email marketing...Street Smart ADDvantage $599
Best overall flat fee MLS program in Florida scoring highest in overall performance (includes Street Smart, Agent Assure and contract representation) would be ADDvantage Plus $799 plus $500 at close.
I am Keith Gordon, broker for ADDvantage, a Florida flat fee MLS listing service. We are members of the Coral Gables Board of Realtors and the SE Florida Regional MLS.
Flat fee MLS listings in Florida are our business. We offer more flat fee MLS products and service that any other service.
Service: 8:00-8:00 7 days a week (including Saturday and Sunday)
Software: just clicks not faxes or email...100% paperless
Products: MLS ADDvantage (basic); Street Smart ADDvantage (Realtor eblast program); ADDvantagePlus (contract-to-close)
Visit our client testimonials and carefully read what everyone says..."they are always available" seems to be mentioned in every testimonial.
Good luck with your sale