Home Selling in San Diego>Question Details

kurupshion, Both Buyer and Seller in San Diego, CA

Flat Fee Listing...Good or Bad?

Asked by kurupshion, San Diego, CA Mon Jun 25, 2012

I am hoping to get some feedback on flat fee real estate services like:

http://www.sdflatfee.com/
http://flatfeegroup.com/California/

Does anyone have experience with services like these? Was it good or bad? Did you save money?

Help the community by answering this question:

Answers

68
It appears that the common answer (from real estate professionals) is "You get what you pay for."
How could a commission based on percentages be anything else besides a seller-ripoff? The time & energy and all the other "services" provided by a RE Broker do not increase based on the property price. That is absolutely ludicrous! I would NEVER hire an agent or broker that says "You get what you pay for!"
7 votes Thank Flag Link Wed Jan 16, 2013
We agree completely! Trust a Realtor! By the way, those who checked would find the the vast majority of Help-U-Sell's Offices have nothing but Realtors working for their clients. Our agents are all Realtors in good standing with all Assns/Boards that govern Realtors where we operate in Southern California. We do charge a low set fee- but we are FULL Service Realtors. In our many years of experience and hundreds of homes sold for our clients (at full market value), our clients have found that not only do Help-U-Sell offices provide all services other local agents and Brokers offer but frequently much more. And, they end up saving $5K to $15k+ on their home sale commission charges. These savings are real and there for the record. In working with clients with little or no equity in their home, that is absolutely true. In some cases that lower flat fee makes all the difference in the client being able sell their home- or having to do a short sale or foreclosure.
Flag Fri Nov 7, 2014
Trust me.. As a Realtor you will be better served if you work with a Realtor. Flat Fee have their time in place in real estate and work well with owners with little to no equity, free and clear properties and have the ability to price below market value and even real estate investors who just want to list. But if you want the max service with max photos, max video, max marketing to over 50 websites (in my case over 70), open houses, you are better off working with a Realtor and you will get more bang for your buck.
Flag Sun Aug 10, 2014
I totally agree. Selling for a flat fee absolutely works. Since I am a flat fee based company with Help-U-Sell, I appreciate your support.
Flag Tue Apr 15, 2014
Amen Brother!
Flag Sun Feb 2, 2014
I have owned and operated "flat fee" franchises so I feel super qualified to answer your question. It is worth noting that I now operate independently as a "conventional" real estate broker. A flat fee company is as good as the agent you have working for you. In many cases these agents are capable and diligent and the only difference you will find in service is the fee structure. You must carefully evaluate the agent's complete program to see whether it will work for you. Many flat fee companies have an option that let's the owner conduct showings and keep the home out of MLS for the most savings. However, not all owners are suited to this task and, it is a fact that the vast majority of homes are sold through MLS by other agents. If you have a lot of patience, price your home attractively, and are not in a hurry to sell, this may be an option. Often, flat fee companies offer a full service option that includes a competitive commission for cooperating agents through MLS. In those cases, the savings is typically not as great, but can still be significant. Ultimately, many brokers and agents who have tried the discounted flat fee commission business model have found that they simply cannot make enough money to survive in the marketplace. That, however, does not mean that it is necessarily a bad thing for consumers. However, most sellers elect to go with traditional full service agents and there are many good reasons for that.
4 votes Thank Flag Link Sun Feb 17, 2013
Flat fee real estate services, or what we call "Low Set Fee" at Help-U-Sell, is about consumer choice and it's about satisfying our fiduciary duty to that consumer to the fullest of our ability. With choice, you can enter the property into the MLS or not--or you can solicit offers both ways--taking the best and saving the most. The argument for the MLS is that there is more exposure and therefore a better chance of getting more offers, one of which may be the best. Surely that was true in the past, but now, well, you are here looking for properties on Trulia. Trulia and similar websites are viewed by consumers. Are there more consumers than agents? Do you think that results in a greater or lesser exposure than just the MLS. The argument against the MLS is saving money on commission expense. One of my sellers just saved $26,150 in commission (when compared to the traditional 6%) on a $535,000 home. That price was the highest price yet achieved in that area. I suspect the appraiser pushed the limit to get it through. If the seller's property had been on the MLS, would he have gotten an offer and closed escrow at a price of $561,150 ($535,000 + the $26,150 savings). No way. And if he did get that offer, it wouldn't have appraised and there would have been no sale. So sometimes with MLS is better--then use it; sometimes without MLS is best--don't use it. Choice. That's what the "Low Set Fee" at Help-U-Sell offers sellers. We explore the pros and cons with each seller and their unique situation. We than design a process which works best in that instance. CHOICE--FIDUCIARY DUTY! How can we as agents/brokers serve the public best without choice and without exploring all options?
2 votes Thank Flag Link Wed May 7, 2014
Linus, I don't want to speak for Gene Manners directly. But, to help you with making the numbers make sense, I will describe How Help-U-Sell works using his numbers. Sale Price-$535,000, Low Set Fee-$5950, Seller procures Buyer-$0, Help-U-Sell still provides FULL SERVICE from start to finish. No Buyer's Agent involved. Total commission paid by seller-$5950. Compare that to a traditional 6% commission- $32,100.00. Subtract $5950.00 from $32,100.00 = Savings of $26,150.00
Flag Thu Mar 5, 2015
your numbers dont make sense. for 26k savings on sale price of 535k, means you saved 5%. what did you give buyer agent, 1%? and what about your flat fee?
Flag Thu Jan 29, 2015
I took the time to read all your comments because as someone that will soon be managing my own firms, this debate is a topic I have been considering for a long time. I have to say that at the end of the day, real estate is all about offering the client the best service possible, therefore, brokers should be able to provide both types of compensation to consumers, and explains all the pros/cons and let the client decide...
Flag Tue Jan 20, 2015
I personally have been with Help-U-Sell going on 20 years now. Our model has been around since 1976 and has worked for thousands of customers coast to coast. No lack of service, education or negotiating skills. We believe in providing the consumer with a fair and reasonable rate to sell their home.
2 votes Thank Flag Link Wed May 7, 2014
I had a great experience with a flat fee listing. Yes, there was a bit of work on our side, but we felt really supported. Flat fee listings seem to be a growing trend. Some realtors don't seem to happy about them though. We heard a lot of "you get what you pay for." Well, we first tried a regular realtor and were not impressed. A flat fee listing worked for us.
2 votes Thank Flag Link Tue Apr 15, 2014
I am having a bad experience with my agent she has agreed to release me from my contract but her broker wants to meet with me I am under the impression that he will not release me
Flag Thu May 19, 2016
I totally agree with you and as a flat fee agent myself with Help U Sell, I appreciate your support
Flag Tue Apr 15, 2014
Kurupshion, I have given Claudia a Thumbs Up for her answer becuase I believe she has a very balanced approach. I do not necessarily think discount brokerages are always a bad thing...no more than I think all online lenders are negative. I do, however, think both work for specific situations and specific consumers.

I did notice that all of these answers focused on the "selling" of the property....not on the escrow (or closing) of the transaction. It is important to note that many, many times it is the work of both the listing and selling agent that keeps the train on the tracks to ensure the transaction comes to a successful conclusion.

There are so many issues that come up during the course of the closig of a real estate transaction, I am grateful to have buyer and seller represantation on 99% of all my purchase transactions.

All my best,

Deborah
NMLS #279125
(951) 795-4547
2 votes Thank Flag Link Mon Feb 18, 2013
Flat fee real estate services are good for a lot of different situations. I know sometimes they can have a hire price, but over time the flat fee rates and hourly rates become pretty close in price. I think getting real estate services either way will work. It's just personal preference. http://3500listingfee.com
Flag Tue Nov 11, 2014
Flat fee real estate services can work very well. The majority of the time the buyer is actually found by a broker/agent who is NOT the one who listed your home.

Be sure to shop around before you buy as the prices can vary widely for these services and remember that buyer's agents don't work for free so offer them a commission that is competitive with other homes that are for sale.

Let us know if you have any questions and check us out if you need any more information.

homecoin.com
(760) 440-8880
http://www.homecoin.com
CA DRE # 01888948
2 votes Thank Flag Link Thu Feb 14, 2013
Hello Kurupshion~

With a flat fee service you are still a "For Sale By Owner". Your home will be listed in the MLS, but professional agents will be able to see that you are representing yourself and may not want to be involved in such a high risk transaction. There are over 72 documents in a Real Estate transaction to protect, and disclose information to all parties, are you knowledgeable on the paperwork?

Although it may appear that you may save a little money, selling your home yourself, in the end that is usually not the case at all. You may pay less of a commission, but your net profit is usually considerably less, AND you work very hard hoping to bring the transaction to a close. A professional Agent or REALTOR, on average will net you 17% more on the sale of your home and do almost all of the work for you. It is not an easy task to keep an escrow moving ahead all the way to closing. Selling your home yourself, can be an open invitation to a lawsuit, and may not be worth the 2.5%-3% you might save in commission costs. A good agent can market your home to receive mutiple offers and bring the sales price up, would you be able to do that on your own and negotiate with all of the offers? If so more power to you, you may want to get your own license to sell: )

The offers that a "FSBO" Seller receives are generally much lower, because the buyer knows the seller is saving money on the commission, so now he wants a deal too! Subjecting yourself to potential buyers that are not working with an agent, that want to see your home, is very risky for you and your family. When buying or selling the most expensive item of your life, it is worth it, to hire a professional...and you will walk away with a higher net sheet, that is what you want, right? Call now, as this is the best time to sell a home in years! Sellers market is back!

Chris Gorno
DRE#01499885
Windermere Real Estate SoCAL
(619)788-4345
http://www.ChrisGorno.com
2 votes Thank Flag Link Tue Jun 26, 2012
Gshillaire you are right on target. Realtors don't deserve the commission they make for such a little work they do. All the forms are ready . All they have to do is to search for homes on MLS and then show it when it is the buyer's, because when it is representing the owner, they even do less work, since someone else is showing the house for them. Then, they fill out the ready forms.

Logically, realtors are going to fight with all they can to argue this, because they truth kills the hens with golden eggs.

That's why there are so many realtors. They don't need to study much to become one, and some don't even know what they are doing.
Flag Tue Mar 25, 2014
I don't agree with your comment - With a flat fee service you are still a "For Sale By Owner". That is certainly NOT TRUE with our company. At Help-U-Sell Achievers Realty, we provide full service to the client just like the traditional brokers. We do open houses, full internet marketing with syndication to many websites. We negotiate the offer, we coordinate the inspections and appraisal, handle the complete escrow from A to Z to bring it to a successful close.
Flag Wed Mar 12, 2014
Gshillaire, judging from your very brief profile you seem like a troubled and disillusioned soul with respect to real estate. You kinda have a chip on your shoulder to make such brutal and insulting accusations and comments about two professions that have been around for so many decades.

The fact that you say you're a broker puts you in bed with all those you so rudely accuse and attack as incompetent and greedy don't you think? You sound like you're dealing with a lot of sour grapes. I can pick any profession apart be you a Catholic Priest, a doctor, attorney, school teacher or the President of the United States.

There's good and bad in everything. Some of us just choose to dwell on the negative and live in a World of cynicism, doubt and fear of always being ripped off. Guess what? Focus on the negative and you will reap what you sow. Have a very Merry Christmas and a Happy, Healthy and Prosperous New Year and may '14 bring some cheer to your life.
Flag Sun Dec 15, 2013
Total BS……and I am a broker….willing buyers and willing sellers and call the title company…..who are these days as greedy as realtors….and do nothing but shuffle paper…..real estate agents and car salesman are false professions run by people who only have to be 18 years old with a high school diploma or GED what a joke!!!!!!!
Flag Sun Nov 24, 2013
I just sold my home using a flat fee listing service. They were alway available to answer questions on the phone. If I had a difficult question I could opt to pay the broker to help me. A fee like $25.00. I never had to use that option. I saved the RE commission of thousands of dollars. It really isn't that difficult. My experience with many RE agents is greed. I took my own photos and they looked really good. Did my own speil about the property. Showed the property. Which I have had to do on my own before, even when I used an agent. So, for me the flat fee was the way to go! I listed on a Thursday and showed my home all weekend, many times. I had multiple offers on Sunday and it sold for $5000.00 over asking price!
1 vote Thank Flag Link Fri May 27, 2016
I've sold 9 houses using Help-U-Sell Real Estate over the past 10 or so years. I'm confident in every case I've gotten as much if not more exposure than any other agent might provide, however the only difference I can see is that I was able to keep more of my equity. I'm confident I've saves somewhere in the neighborhood of $75-80k in "commissions" by using this set-fee services that Help-U-Sell provides. I can't imagine paying a 5-6% commission any more than I could imagine paying a travel agent hundreds of dollars to book an airline ticket!
1 vote Thank Flag Link Thu May 8, 2014
Hi Ron: Nice testimonial but don't you think it might be appropriate to disclose that you are the Business Development Director for Help-U-Sell and one of the regional managers for the company? Just saying!
Flag Wed Nov 19, 2014
Ask you agent to write down what a $400,000 seller gets EXTRA for the EXTRA money they pay over a $200,000 seller and make it add up. Paying a set fee on the listing side makes sense. If a seller CHOOSES to be MLS listed and it is sold by another broker they pay the flat fee plus the co op and save good money. If it is sold within our HELP-U-Sell office I charge the flat fee on both sides of the transaction and the seller saves even more. Plus, if they seller wants to try to sell on their own and is successful, they pay only the set listing fee and save a TON of money and we do all the work. That way the seller gets all the tools needed but only pays who participates in the sale and to what extent.

Once a seller is entered in the MLS at a fair co op, they are introduced to the marketing power of the entire local brokerage community. Think of this, if you wanted to join the Elks, Rotary etc. does it make a difference who your sponsor is as long as one a member you enjoy off the benefits?

If you take a compact car and luxury car to be washed you pay the same because the value to the car has nothing to do with the cost of washing it. The same is true of real estate. Percentage commissions make as much sense as a doctor charging his fees based on income or net worth. NUTS!
1 vote Thank Flag Link Wed May 7, 2014
I did and yes, it was a good experience. I do not know if all services are the same, but using one really did help us. I would say that there are good and bad in all groups. You might want to shop around, check out places like Yelp.com and the Better Business Bureau and the like. We used http://www.flatfeelisting.com/ and ended up saving, big time. They actually helped us do everything from setting the price to creating a virtual tour. Before this, I would not have thought we could get through the process, but now, feel pretty good about it. The kids love the new house and we got out from under the mortgage of the other. In the end, we saved a lot of money. I would recommend it, but again, check out their rating.
1 vote Thank Flag Link Thu Apr 10, 2014
I don't see how selling for a flat fee can be bad when you get so much and pay so little.
At Help-U-Sell Achievers Realty, here is what we do for a flat fee:
We list your home on most of the major internet sites including Helpusell.com
We guarantee in writing to advertise your property every week with our exclusive marketing system.
We send an ad on your property to potential buyers now looking for property.
We discuss the “bad” and the “good” in all offers and negotiate to get you the best possible price.
We pre-qualify your buyer and help them obtain financing (many times there are 7 or 8 methods).
We go through your closing costs and leave you with an estimate of your net proceeds.
We help you avoid problems, assist you should any arise, and work to save you money in all the
hidden parts of the transaction.
We coordinate for you with the engineers, appraisers, inspectors and other professionals.
We handle all negotiations, paperwork, contract, any counter offers, and manage your transaction through escrow/settlement and follow through until the closing.
We show your home, hold open houses and follow up with buyers and agents for feedback.
We cooperate with other agents and put your listing in the MLS if you choose that option.

You may want to check with your local Help U Sell Office in San Diego since all Help-U-Sell offices are franchises.

Meena Gujral
Help U Sell Achievers Realty
925-425-9491
http://www.helpusellachievers.com
1 vote Thank Flag Link Fri Mar 7, 2014
Flatmlslisting.com offers many flat fee mls listing packages. Also you can review video of flat fee listing services they provide. at http://www.imarketdaily.com/FLAT-FEE-MLS-LISTING-SERVICE-IN-…
1 vote Thank Flag Link Fri Dec 27, 2013
FLAT FEE MLS LISTING SERVICES can save you allot of money. By listing your home with a Flat Fee Listing Service. You have the ability to sell your own home with out paying a commission. If you are marketing you house and you find a buyer on your own. WHY should you have to pay a commission if you did all the work.. It's a WIN WIN even if the agent finds a buyer for you. Because you only have to pay 3% depending what's agreed. You should visit http://www.FlatMlsListing.com for a Video Presentation.

BAD - FINDING YOUR OWN BUYER AND NOT SAVING ANY MONEY

GOOD: FINDING YOUR OWN BUYER AND SAVING ALOTTE OF MONEY
1 vote Thank Flag Link Fri Dec 13, 2013
I agree. There really are some good services out there and they can save you some money. In fact, they can save you a LOT of money. Tens of thousands of dollars. A lot of realtors may not like them, but many services like the one I used are run by fully licensed realtors. They got my house on the MLS just like a traditional realtor. Just look around and find out what works for you. I went through flatfeelisting.com and it worked out. Just Google it, look at the reviews and check the company that you are interested in out first.
Flag Mon Apr 14, 2014
From an experience stand point, most strong real estate agents would not work for a flat fee group. These business models are purely based on volume. The rise and fall (remember the rage with Assist2Sell® and Help-u-Sell® many now closed) of such agencies is nothing new. When the market becomes "easy", or favors the seller, these types of high volume, often lower experienced agents, throw it on MLS companies appear. They yell "full commissions are a rip off".

Everyone wants to save money. But it is more important to net the most money you can. There are full commission agents / agencies that more or less will put your home on mlx and help write the contract - if that is the type of agent you are interviewing, by all means go with the lowest cost, because most likely neither will get you top dollar for your home.

However, there are plenty of great agents that provide true full service. My listing are staged by a top staging company - which I am fine to share because most agents and homeowners would not pay their fees - Savvy Interiors (they do a lot more than staging). Professional photography from one of the best companies in San Diego, professional marketing materials including home brochures.

Add all of that with a $200,000 marketing budget promoting my homes in magazines, postcards, paid online featured spots on all of the major sites, paid per click and other online advertising and my listings average well over 100,000 potential home buyers viewing each of my listings. So the person willing to pay top dollar for my listing is found.

The flat fee places simply do not do this, and the result is often the homeowner "saves" thousands on commissions, but looses tens of thousands on an offer price.

David Rudd
cell: 858.395.6315
david@kindredre.com
http://www.kindredre.com
ca bre# 01402946
1 vote Thank Flag Link Fri Oct 25, 2013
I just wanted to give you some information about my company:

Help-U-Sell® Real Estate differs from traditional brokers, not in the scope of services provided, but in the dollar amount that you pay for those services. Our brokers charge a set fee for their services, as opposed to the traditional 6 percent commission, which, in turn, helps you to retain a greater amount of equity while still receiving all the real estate services you expect.

We will provide you with a Competitive Market Analysis that will provide you with information regarding the price range of similar home sales in your area as well as with information on current sale conditions so you can choose a price you feel is appropriate for your home.

Sellers appreciate the fact that our Brokers spend their time marketing properties instead of marketing themselves and recruiting agents. Our Buyers appreciate the fact that we are experts in their neighborhood and that our website contains all of the local MLS listings, and, in many cases, more. Our unique marketing strategies drive a steady stream of traffic to our website and offices, which results in many buyers for our listings and many new listings. Additionally, our streamlined operations and cost efficiencies translate into low overhead and savings that we pass along to consumers with our low set fee.

You may want to contact the Help-U-Sell office in San Diego for more information.

Meena Gujral
http://www.helpusellachievers.com
1 vote Thank Flag Link Wed Sep 18, 2013
Meena, please stop treating this board as a free advertising board. It is for reviews!
Flag Sun Aug 23, 2015
Hi Kurupshion,

There is nothing wrong with using a discount broker. You do their job, and pay about half the price, that sound fair enough.
I would hope that you have previous experience in doing agent showings, decluttering, basic staging, and contract negotiation. You would be face to face with the buyer's agent, with no one to represent you face to face.

My question for sellers is, If you need surgery, would you hire a discount doctor, or an experienced doctor? It's only your house, your most valuable possession.

Some people sell houses like used cars, most of us realtors, take pride in our profession and take pride in our job. You pay for experience.

On the other hand, some owners do sell their homes by themselves. It is a decision that only you can make.


Douglas Lagos
Realtor, Certified HAFA Specialist (CHS )
Coldwell Banker Residential
1 vote Thank Flag Link Wed Jan 16, 2013
HI,
Most of the time a homeowner is the worst person to sell their house. They are too involved, too emotional and too inexperienced, as a result they get in the way and usually prevent a sell rather than nurture it. Realtor's know this fact and advise homeowners to leave the house for showings, inspections and open houses.
The most powerful fact that speaks to this issue is that most Realtors do not sell their own houses - they have a friend do it.
Best to you
Janet McCarthy
Professional Realtor
Connect Realty
jmccarthyhomes@gmail.com
1 vote Thank Flag Link Wed Oct 17, 2012
I think you are wrong. The homeowner knows the most about their home. I understand that it is in the interest of real estate professionals to promote this myth.
Flag Sun Apr 27, 2014
Great dialog.....I'm following this post hoping to gather information about something that I know very little.

There are two repeating themes:

You get what you pay for.

The importance of meeting the customer's needs.

From my perspective, when services are discounted something has to go. It's impossible to offer the highest and best level of service and at the same time discount the product. If this concept is disclosed and understood and acceptable to all parties......what's the harm?

Respectfully,

Bill
1 vote Thank Flag Link Sun Jul 15, 2012
I get your point. However, it is also a valid point that a realtor does the same amount of work for selling a $500,000 house as for a $250,000 house; so why should she earn twice as much for selling the $500,000 house? That argument seems logical to me. What is the counter-argument?
Flag Sun Oct 11, 2015
I accommodate to my clients needs. I offer both Flat Fee Service and Full Listing Services.
Some seller's have the time and are competent to handle the transaction and other don't have time or the knowledge and prefer to hire a full service agent.

You can achieve excellent result and save thousands of Dollars selling your home FSBO by using an Flat Fee Listing Company.
As long as the seller is motivated, the home is priced accordingly, the seller's is available for showings, and have the home is properly staged.

David Billar
619 861 607
Villa Group Real Estate & Mortgage DRE#01360356
1 vote Thank Flag Link Mon Jul 2, 2012
Fees and rates and terms are always negotiable! If you are looking to list your home I think your question holds some merit. I would probably add a twist and say stay away from the “cut rate” guys and seek out the services of a full service Realtor® with your intent being to negotiate the best deal for yourself. Many agents offer huge discounts if the homeowner is willing to pre-pay a small nonrefundable marketing fee upfront then reduce the listing fee to a flat fee. The selling side usually remains near the market rate. Most full time first tier Realtors® will entertain this idea so the benefit for you is getting top tier service at a discount! Good Luck
1 vote Thank Flag Link Tue Jun 26, 2012
I just signed with Jamie Mattingly, of sellyourhousefastmls.com.
I had spoke to her earlier when I was comparing service's. I felt comfortable with her and should have signed up then.
I went with another Listing agent and got the run around. I ended up canceling service with them and going with Sell Your House Fast.com. She did everything she said she would do and more. Even helping me fill out the forms when I had computer problems. She was so great and friendly. We spent a lot of time on the phone and got to know each other.
I would highly recommend using her service's. You won't be sorry.

Mike Larkin
Trenton,NJ.
7/30/2016
0 votes Thank Flag Link Sat Jul 30, 2016
I just signed with Jamie Mattingly, of sellyourhousefastmls.com.com.
I had spoke to her earlier when I was comparing service's. I felt comfortable with her and should have signed up then.
I went with another Listing agent and got the run around. I ended up canceling service with them and going with Sell Your House Fast.com. She did everything she said she would do and more. Even helping me fill out the forms when I had computer problems. She was so great and friendly. We spent a lot of time on the phone and got to know each other.
I would highly recommend using her service's. You won't be sorry.

Mike Larkin
Trenton,NJ.
7/30/2016
0 votes Thank Flag Link Sat Jul 30, 2016
idk yet I am in process and will let you know when I have completed the process.

Have you tried since your post?
0 votes Thank Flag Link Wed Jan 20, 2016
idk yet I am in process and will let you know when I have completed the process.

Have you tried since your post?
0 votes Thank Flag Link Wed Jan 20, 2016
flat fee mls at http://www.sellyourhousefastmls.com is owned by a family that has bought and sold over 150 of their own homs by owner. They are very attentive and know what its like to sell a house by owner with discount real estate services.
0 votes Thank Flag Link Sat Sep 26, 2015
Depends on how it was listed maybe or what is the needs to use the flat free listing.
0 votes Thank Flag Link Thu Aug 20, 2015
Flat fee listings are good in that you will save money. The typical commission you are likely to pay using a real estate agent is anywhere from 4%-6%, although this is negotiable.

Flat fee listing is bad in that the services they offer are limited in comparison to a traditional agent, therefore a seller must be relatively well educated about the real estate sales and contract negotiation processes. Before signing up with one, be sure you know exactly what you are getting for that fee.

This article tells you everything you need to know about real estate commission and flat fee/discount brokers:
https://www.besmartee.com/blog/real-estate-commission-explai…
0 votes Thank Flag Link Wed Aug 19, 2015
are up for the challenge, I would recommend you add a Flat Fee service where your property information is loaded to your local MLS. Find the most reputable company in your area that offers this service. Why do you want your property in the MLS? The answer is simple: to maximize market exposure. It would put your property where thousands of Realtors search for properties for their prospects. Customers have been very please with the service provided by Trifecta Realty Group. Hope this helps..
0 votes Thank Flag Link Sun Aug 16, 2015
Flat Fee MLS service is not for everyone, it is for people that like a DIY project of selling their property. The flat fee MLS service should provide the Seller with a market analysis to price the property right. If the property is priced too high, it will not sell! At Trifecta Realty Group, we offer both options, the Flat Fee and the Traditional. Regardless of which option you choose, pricing right is important and placing the property in the MLS is also very important because the FSBO's will be turning 90% of the calls that they are getting now from Realtors wanting to list their homes, into Realtors bring in Buyers.
0 votes Thank Flag Link Sat Aug 15, 2015
Two year old question, but my Today issue. Quick pro/con about flat fee MLS services
pros: gets you on MLS and other sites, able to post open houses, walkthrough video, realtors can view lockbox code.
Cons: changes your selling look on Zillow from buy owner to listing agent, forces non realtor buyers to
pick an agent to see the property (costing u 3%), u are at the mercy of your flat fee agent he/she may take the the leads and not forward buyers to see your listing, realtors may blackball "limited agent or buy owner sellers" because they want to get listings (this is an inside realtor dark side thing)

This is based or personal experience, in a market where sellers are getting many showings and I get little or none, my property is listed at a reasonable price, in a good area, in good condition.
I tried buy owner for a few weeks now am testing Flat fee MLS service, today is 8/15/2015
0 votes Thank Flag Link Sat Aug 15, 2015
Who did you end up using and how did it turn out?
Flag Fri Mar 4, 2016
Hello Kurupshion,

The feedback I've heard was not favorable.

Might I suggest the following... I would first find the best agent - then sit down and discuss commissions. (I'd be glad to send you a list of free websites you can use to research real estate agents, to help in this process)

There are a lot of agents that work part time, are not experienced, not educated or competent to protect one of the most valuable investments you own. There can be very vast differences between one agent to the next agent. Please do your research before you hire an agent!

Hope this helps,

Best regards,
Scott and Shelley Weier
Cal State Realty
http://www.SeaMonsterHomes.com
Cell: 760-717-9385 Scott
Cell: 760-717-9305 Shelley
Email: Scott@SeaMonsterHomes.com
Email: Shell@SeaMonsterHomes.com
BRE: #01175869 / #01217373
0 votes Thank Flag Link Thu Aug 13, 2015
I was also wondering about http://www.itz-sold.com for a flat fee listings in Los Angeles
0 votes Thank Flag Link Thu Jul 30, 2015
We own a small flat fee service as a family business an have been doing this for about 4 years. We haven’t paid any huge fees to the BBB to be members but we also don’t have any complaints with them an if you google our names you won’t find any othrer complaints either. We don’t ask or put out false reviews of ourselves, but your welcome to see any of our listings on our site an ask a customer how they were treated. We are not agents! We are people who have bought and sold over 150 homes mostly by owner with a background in Real Estate, Mortgages, Investing, Marketing, and Law. Unlike Agents we only do For Sale By Owner Marketing of Flat Fee MLS with Realtor.com ! We have no interest in getting a full listing, being a buyers agent, or referring to a buyers agent for a fee. Rest assured there is NO “bait and Switch” here! We take our customer service seriously and care about your order. We are not out showing a house or signing up full listings while you wait for us to call you back. We are a marketing company selling For Sale By Owner Websites and marketing services that include flat fee mls and realtor.com services. We do contract the MLS and Realtor.com portion of our service out as only a broker that subcribes to the local MLS’s can post you on the MLS and Realtor.com . However, we only use one broker for this and he has multiple state licensing and does this full time as well, so he has no interest in converting you to a full listing or referring buyers to buyers agent when they inquire about your property. All buyers contacting us or him without an agent are referred to you. You retain the right to sell buy owner and never pay a commission if you sell the home without a buyers agent bringing you the buyer. As a for sale by owner marketing firm when you purchase your flat fee mls advertising through us you will also cover the for sale by owner market and those websites so you are exposed to both sides of the market. Many local brokers offering flat fee mls services are doing it for lead generation of buyers, or to convert you to a full listing and some of the other national flat fee services are referring some of these local brokers you flat fee mls order to these local brokers, who have another goal when taking your order than being paid a very small portion of your flat fee. Many small brokers offices are doing flat fee in other states and are referring to other local brokers in your area as a lead generation tactic to bait and switch you to a full listing. We don’t refer your order to local brokers we use a national broker who’s primary business is like ours selling flat fee mls and realtor.com listings! Our website has lots of information because we believe in full disclosure and sometimes that means offering more information than some may request, but others needed to know. We also give you max photo’s permitted on your local MLS up to 30 and the first 6 of those on your Basic Realtor.com listing. We also don’t charge you to make changes to your listing. It’s that simple we are here to help you sell your home and save money! Still have questions? “Ask us” No Smoke and Mirrors here!

Happy Selling and Most of All Happy Closing!

Jamie and Kyle Mattingly
SellyourhousefastMLS.com
206-218-7187
0 votes Thank Flag Link Fri May 15, 2015
I just signed with Jamie Mattingly, of Sell Your House Fast.com.
I had spoke to her earlier when I was comparing service's. I felt comfortable with her and should have signed up then.
I went with another Listing agent and got the run around. I ended up canceling service with them and going with Sell Your House Fast.com. She did everything she said she would do and more. Even helping me fill out the forms when I had computer problems. She was so great and friendly. We spent a lot of time on the phone and got to know each other.
I would highly recommend using her service's. You won't be sorry.

Mike Larkin
Trenton,NJ.
7/30/2016
Flag Sat Jul 30, 2016
I just signed with Jamie Mattingly, of Sell Your House Fast.com.
I had spoke to her earlier when I was comparing service's. I felt comfortable with her and should have signed up then.
I went with another Listing agent and got the run around. I ended up canceling service with them and going with Sell Your House Fast.com. She did everything she said she would do and more. Even helping me fill out the forms when I had computer problems. She was so great and friendly. We spent a lot of time on the phone and got to know each other.
I would highly recommend using her service's. You won't be sorry.

Mike Larkin
Trenton,NJ.
7/30/2016
Flag Sat Jul 30, 2016
NoMoreAgent (dot) (com) is the greatest flat fee mls listing service. They are friendly, affordable, easy to use, etc. Highly recommend!
0 votes Thank Flag Link Wed Jan 21, 2015
Hi Kurupshion
You will notice that these flat fee services make up for the reduced fee by providing fewer services. I have a new, Flat fee FULL SERVICE program for properties valued at over $500k in San Diego County. If your home is valued at over $500K, please email me at donna@donnasellssandiego.com to learn more about it.
Thanks!
0 votes Thank Flag Link Fri May 30, 2014
What many people do not know is what is involved in listing or selling a home. A flat fee listing can get your home in the MLS but then what? The owner has to be ready, willing and able to pre-qualify buyers before letting them in their home. Show the home. Negotiate a sales price. Be able to take emotion out of negotiation. If the buyer writes the offer, a legal professional should review the offer before signing. Provide all federal and any state mandated disclosure forms. Be there for the home inspection and be ready to re-negotiate with the buyer if they find anything. Be ready to check with the buyers lender nearly every day for updates and progress. be there for the appraisal and provide comps that support the sale. Seller will need to make sure buyer gets commitment and checks to see what contingencies the bank may have imposed. Seller should set up closing with their attorney. Make sure deed is prepared and review proposed HUD. Conduct walk through with buyer, review final HUD and attend closing,.
0 votes Thank Flag Link Tue May 27, 2014
I like the some of the Flat-Fee structures made available. As a Broker, I can service a Seller and give them the equity in their property and still earn something for my business. The real question in my mind is, when a home is properly priced and salable, do you really need to pay an agent thousands of dollars? I think not which is why I am considering a Flat-Fee business model by the end of 2014.
0 votes Thank Flag Link Tue May 27, 2014
Every Seller has the right to negotiate with the listing agent with the fee structure, just like the Buyer has the right to ask the Seller to replace or repair certain items of the home. It is up to the Agent and or Broker if they feel it is appropriate to take the listing at a flat fee. I hope this helps.

Best Wishes,

David R. Indermill

Re/Max Hall Of Fame, CDPE | Since 1998 | Luxury Real Estate Advisor
International Referrals | Bank Owned Assets | Off Market Properties
Large Cash Investor Fast Close Network | B.R.E License # 01232827


http://www.SanDiegoHomeStore.Com

Cell: 858-414-LIST (5478) Texting OK
Fax: 858-430-5544
Email: david@sandiegohomestore.com

http://www.trulia.com/profile/sandiegohomestore/

Re/Max Associates 1010 Prospect Street, suite 300 La Jolla, CA 92037
"Nobody Sells More Real Estate in The World Than RE/MAX"
0 votes Thank Flag Link Sun May 11, 2014
I think with a flat fee listing you will have to compromise on the amount of marketing you will get for your property. If I were a home seller I wouldn't want to miss out on any form of marketing that may sell my home. I also feel that with this type of listing the agent may not be as aggressive as others...
0 votes Thank Flag Link Wed May 7, 2014
Good or bad would depend on you. How much time you have, how much effort you can commit to, how sharp your negotiation skills are, your marketing skills, your ability to qualify buyers, your knowledge of real estate contracts and can you objectively price your home to sell.

Seriously, if it was such a good idea, everyone would be "saving" money.

:: Don’t miss out on newest on the market and price reductions. Contact me for a customized search of up to date listings sent directly from the MLS ::

Barbara Klare, Broker Associate
Gulf Coast Realty
cell: 239-292-1358
e-mail:bklare@comcast.net
http://www.barbaraklare.com
0 votes Thank Flag Link Thu Apr 17, 2014
A flat fee listing is a way to know your exact expense when it comes to a real estate transaction and the commission you will pay. Just be sure to inquire about what services you can expect with your listing.
0 votes Thank Flag Link Thu Apr 17, 2014
One of the services we offer is a flat fee listing program. The best thing to do is to make sure the listing company is a licensed real estate broker in your state. We provide the service as an alternative to our conventional listings. We advertise and work on these listings as much, if not more, than our conventional listings. It's not true that you get what you pay for. Just be sure to do your homework.
0 votes Thank Flag Link Thu Apr 17, 2014
Personally, I think it is a great idea. They can list you on the MLS and can help with all of the steps. I had a great experience and saved a lot of money too. I say go for it. I do not know about the companies listed above, but I do know about the one I used. They even helped me close. I do not know if they are nation wide, but they serve the Dallas area and are great. Go to http://www.flatfeelisting.com/ to check them out.
0 votes Thank Flag Link Tue Apr 8, 2014
I would have to say that it all depends on the list price and how realistic the seller is with his selling price.

Agents are individual business owners so as we all know you can make it up in volume.

Best Wishes,

David R. Indermill

Re/Max Hall Of Fame, CDPE | Since 1998 | Luxury Real Estate Advisor
International Referrals | Bank Owned Assets | Off Market Properties
Large Cash Investor Fast Close Network | B.R.E License # 01232827


http://www.SanDiegoHomeStore.Com

Cell: 858-414-LIST (5478) Texting OK
Fax: 858-430-5544
Email: david@sandiegohomestore.com

http://www.trulia.com/profile/sandiegohomestore/
0 votes Thank Flag Link Thu Mar 20, 2014
Remember there are 2 sides to each transaction, so even though through a flat fee you will put the property on the MLS and it will shoot out to other websites, when buyers agents reach out and see that the listing agent will not do their diligence they stir away from it. They do not want to be doing both sides of the transaction, specially not knowing if a transaction will close. Also check to see how liable you will be and the listing agent, if something were to go wrong in the paperwork an agent has errors and omissions insurance that will cover otherwise you will have the buyer come after you. Please beware. If you found this useful please rate or recommend. Best of luck, be careful!
0 votes Thank Flag Link Tue Mar 18, 2014
Ronald, you are confusing flat fee with discount. Flat fee provides all the serviced for a flat fee and discount cuts service and fees. This is dangerous to the broker because they often provide less that the State's standard of service for a broker. They can also do so little that the buyers broker has to provide some sellers agent services and the States are watching that. Set fee is the way to go.
Flag Wed May 7, 2014
Flat fee listings have been around for a long time. Most fail as soon as the market gets tough and real experts are need to properly promote and sell homes.

So, I think ask yourself this - if these flat fee services pop up and increase their business during times of limited inventory, do you think they have the skills to market your home and find the buyers willing to spend top dollar for your product (your home).

In my experience, flat fee services typically have less experienced agents, retiring, or part time. Always exceptions, but in my experience these agents / companies simply don't compare to full service.

David Rudd

BRE #01402946
0 votes Thank Flag Link Sun Mar 16, 2014
I feel you get what you pay for if an agent will work for nothing that is usually what you will get. I believe in giving good clients a break when they are both selling and buying from me. Also if they agent can not negotiate for himself and the income for his family how do you think they will do at negotiating on your most valuable asset to get you the most for your home with the least liability. So in short if you save $10,000 on the commission and loss $25,000 on the sale of your home did you really win?
0 votes Thank Flag Link Wed Mar 12, 2014
Bad! They are only listing it on the MLS for you.
0 votes Thank Flag Link Thu Mar 6, 2014
1 2
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer