Flat fee MLS…it’s not your Grandmother’s property listing method!

By
Services for Real Estate Pros with ADDvantage Real Estate Services

The technological age has empowered consumers to demand that industries offer more reasonable prices for services.  Real estate is no exception.  Thanks to the Internet, home sellers can get exposure for their properties without having to pay huge commissions.  Instead of paying 6% to a full service Realtor, flat fee or discount listing services allow sellers to get listed on the MLS and have complete control over the sale of their property.  The concept of flat rate MLS listing originated in Florida in the late 1990’s and has grown in popularity in all major cities.  Now flat fee MLS in Tampa is widespread, as well as MLS listing in Miami, Orlando, Tallahassee and most other FL cities.  Now other states are following suit as more and more home owners learn about this effective and money-saving alternative to selling real estate.

So why doesn’t everyone list a home flat rate in Florida rather than the old school method?  There are a few obvious reasons:

1.       Not everyone knows about flat fee MLS listing or if they do, they can’t get their minds around the fact that it is real.  The concept seems too good to be true.

2.       Many home sellers are complacent with the antiquated system and like a herd of cattle just follow along without questioning if there are better alternatives.

3.       Everyone knows a real estate agent and odds are that some agent has drilled it into your head that should you ever sell your home, that they are your gal/guy.  Many sellers feel disloyal if they don’t list their home with their friend or acquaintance.  If flat fee MLS listing is mentioned to most real estate agents, they will (of course) speak negatively of it.  Discount real estate threatens the foundation of the traditional Realtor.

4.       Home owners don’t realize that they can have a flat fee or discount MLS listing and still receive full contract representation such as the Professional MLS Listing on GetMoreOffers.com.

If you are a home owner thinking about listing your home for sale by owner, also consider that the flat fee option allows you the possibility of selling without paying any commission to a buyer’s agent.  There are 2 scenarios to selling when listed through a MLS listing company: 1) (most common) a buyer’s agent brings you a buyer and you pay them the commission you have chosen to offer in the MLS (usually around 3%) or 2) you find a buyer via one of the real estate websites your home is fed to by being in the Multiple Listing Service and that buyer does not have an agent.  No commission is due!  This is one of the biggest benefits of this listing method. 

Property owners beware: if you don’t know how to text or use a digital camera, then you should join the Grandparents of the world and list your property with a 6% agent.  Flat fee MLS listing is for those who are savvy and ready to break away from the herd!  For more info on how to list your Florida property in the MLS go to getmoreoffers.com.  Our Florida flat fee mls listing reviews illustrate how successful and satisfied GetMoreOffers.com sellers are.

 

Comments (1)

Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Flat Fee MLS, Discount Brokerage, Commission Rebates - all are Legal in Florida, pursuant to Full Disclosure to all Parties (possibly including the Lender).  See an Attorney for Legal Advice.

    Nonetheless, many Brokers will trash and dismiss the Flat Fee Brokers (FWIW, bad-mouthing another Broker's business model may be a violation of NAR Code of Ethics).

    Flat Fee is indeed a Threat to the long established business model, especially the "4-Way Split".  Some Traditional Brokers have armed themselves with quaint sayings such as, "You get what you pay for".

    Consumers deserve a Choice, and Flat Fee MLS gives them that choice. 

 

Nov 23, 2011 10:29 AM