We Buy Houses Pittsburgh: Are you selling a house and wondering what a Flat Feed MLS is? A Flat fee MLS (multiple listing service) or fixed fee MLS is a common practice in the real estate industry. It involves providing important details about a house/ land for sale in the data bank of the neighborhood Multiple Listing Service by charging a fixed or predetermined fee for the same. It does not charge a commission that is a percentage of the sale price of your house or estate.
This system is preferred by sellers who wish to sell their homes without the services of a traditional real estate agent. The seller or house owner enters into a listing contract with the real estate broker or listing service and pays a flat fee for listing his property on the MLS. This is an effective and inexpensive tool for marketing your property online. The structure of flat-fee MLS is different than the usual scenario of a real estate agent finding a buyer for your house.
The flat- fee service employs the “Exclusive Agency” contract for listing. This kind of contract is very beneficial for the house owner during the sale. In this contract, the seller can list his house on the MLS as well as keep the option of selling his house as “FSBO” open. This means he can carry on with his effort of selling the home on his own as an owner. He does not need to pay any commission if he succeeds in finding a buyer with his efforts. All flat-fee listing contracts come with these usual terms.
The seller is required to pay something close to $200 to $900 as a flat fee in addition to a ‘buyer’s agent commission’ that is given to a helpful broker who introduces a buyer. When you list your property in a flat-fee MLS, the listing company will not help you in preparing the sale contract or other legal documents. Its job is limited to entering your house into the MLS and not beyond that.
Overall, these issues can be handled by hiring an attorney too. So a flat-fee MLS proves to be profitable.
There are other options if you are trying to sell a house fast, if you are in the Northern Pittsburgh area, before you do anything, please contact us at CRFHomeBuyers.com, we may be able to offer you a fair solution that can save you time, no commission fees.
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