Home Selling in 20152>Question Details

Lance, Home Buyer in Chantilly, VA

Flat Fee MLS as the Seller?

Asked by Lance, Chantilly, VA Mon Feb 18, 2008

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11
Flat fee mls is available for sellers. You can list your home directly on the MLS by owner and you do not pay a real estate commission.
1 vote Thank Flag Link Sun Nov 28, 2010
The question is are you considering selling your home with a flat fee company (aka limited service agency) or are you looking to buy a home from a seller who has it listed with a limited service agency?

You need to decide how much is your time worth when it comes to all of the activities related to selling your home. Today's market is not one where you can throw your home out of the MLS and expect that it will sell in a week. Marketing and knowing where to market your particular property is key.

If you are buying from an owner who has their home listed for sale with a limited service agency how do you know whether the price listed is the right price? Do you know how to protect yourself with various contract terms?

You can find plenty of agents who will work with you as either a seller or buyer in ways that might surprise you that won't leave you hanging with a flat fee brokerage or an unrepresented buyer.
Web Reference: http://varealestatetalk.com
1 vote Thank Flag Link Thu Nov 20, 2008
Lance - The best person to answer this question is you. Do you have any experience in real estate? Are you willing to field phone calls & hold open houses? What other forms of marketing do you plan for your property? How will you go about pricing in today's market? Can you objectively evaluate the current condition of the property for any necessary improvements and staging? How are your negotiating skills?

If you can honestly answer that you are fully capable of handling all of these things, and a few more I overlooked, then maybe a flat fee MLS listing is for you.

However, making a mistake in real estate can be very expensive. That is why agents carry Errors & Ommissions insurance, even though most of us do this full time and conduct multiple settlements a year.

If getting into the MLS were the holy grail to a successful sale, we would never have any listings expire, but they happen every day because an MLS listing doesn't guarantee a sale. Right now there 251 active listings in Chantilly in the MLS... how will you make yours stand out
1 vote Thank Flag Link Thu Nov 20, 2008
Hey Lance,
I used to offer flat fee MLS.. but then I got good.

Read about my inside scoop on Flat Fee MLS. The blog post is called:
Go FSBO! Save $20,000! Agent Tells All!
1 vote Thank Flag Link Tue Feb 19, 2008
We have local professionlas in the area that can help!
0 votes Thank Flag Link Mon Jan 10, 2011
Here is a good site that lists all the flat fee realtors.
0 votes Thank Flag Link Fri Dec 31, 2010
You can list your home with a flat fee mls agent as a seller. No problem. Is that your question Lance?
Web Reference: http://www.mlsisland.com
0 votes Thank Flag Link Mon Dec 6, 2010
Flat fee MLS is a great way to save a lot of money. In California, I am offering flat fee MLS for only $85.
Web Reference: http://www.cali-mls.net
0 votes Thank Flag Link Wed Nov 19, 2008
Lance
I suggest that you discuss your options with a local Realtor. Ask for an "estimate of seller's net proceeds". It may be that the difference between a Flat Fee Realtor and a full service Realtor might surprise you!
Also, at least in my area, the "less than full service" brokers have a much higher "expiration rate", meaning that compared to full service Realtors, "limited service" brokers' listing fail to sell most of the time.
Good luck!
0 votes Thank Flag Link Mon Feb 18, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Pay a Flat Fee to get the House Listed in MLS. Seller is obligated to pay componsation to the other Realtor so they show the house. This is called Limited Service Agency. Besides, Seller may choose to rent Lockbox, have a sign in the yard etc. In Remarks it will be mentioned for buyer agents tp Contact Seller Directly! Eventually if seller feels he needs more services that can be converted to Full Service at anypoint. We have done that before. Basically, Marketing , Paperwork and Negotiation is what Seller does himself or Fee for Service basis :))
0 votes Thank Flag Link Mon Feb 18, 2008
Lance-in the current market your home needs the most exposure possible to make it stand out from the competition. You need to make sure that the agent you hire to list and sell your home uses more than the MLS to make that happen. You need an agent/company that has resources to get your home noticed. Also are you ready to take on the responsibility of negotiating the sale of your home in a buyer's market? WIth so many issues with loan programs will you have the time and knowledge to make sure that if a buyer comes to your door that you will understand the implications of the type of financing they have? There is a lot more to selling a home today than there was 2 years ago. If you think that a flat fee MLS will get you the results that you are looking for then by all means go for it. But make sure you see what they are going to do for you BESIDES the MLS.
Web Reference: http://cindyjoneshomes.com
0 votes Thank Flag Link Mon Feb 18, 2008
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