How to get more Realtor showings when flat fee MLS listed in Florida
There are a few "natural" drawbacks to being flat fee listedin Orlando and Miami that can reduce a seller's visibility to Realtors®. There are certain steps a flat fee MLS seller can take that will increase the odds of selling. In essence, more "showings" could equal more potential for offers and ultimately a faster sale.
The most effective flat fee MLS listing would be one that blends in with all other full-service MLS listings so Realtors® can't tell that you are listed for a flat rate. While MLS listing services don't tell you this, in some areas 1 out of every 10 Realtors® in Florida will intentionally avoid showing flat fee listed homes. As the broker for ADDvantage, a statewide flat fee MLS service with hundreds of listings in Florida, I can attest that my fellow Realtors® have admitted they won't show properties that they know are listed with a flat fee company. While it is highly unethical and illegal to shun a limited service property, we have also been told by some of our flat fee MLS listed sellers that agents soliciting their listings have presented this as a "major disadvantage" to listing flat rate in the MLS and a primary reason for the seller to list full service with them. A certain amount of this rhetoric could be just a scare tactic to get flat fee listed sellers to convert to full service. However, many Realtors® come from the position that showing flat fee listings helps promote the "alternative" discount real estate business model which they feel threatens the traditional 6-7% commission paradigm.
I have found that the solution to this annoying "shunning" practice is to offer a flat fee listing that mimics a full service listing in every way but still remains a traditional flat fee listing in that the seller still remains in control of the listing and can still sell to an unrepresented buyer and thus pay no commission. ADDvantage PlusTM, our newest flat fee program, is 100% identical to all other full service listings so Realtors® searching the MLS cannot separate, identify or "shun" one of these listings even if they get a DNA sample. The reason is because it is inputted into the MLS using an Exclusive Right of Sale classification (the same category a full service listing would have) rather than "limited service" which is what is used on a typical flat fee MLS listing. This is possible because we have agreed to represent the seller in contract negotiations but are only charging a low flat fee to do so as opposed to the traditional 6%.
As well, the Plus program comes with a premium service called Agent Assure® that sets all contact numbers for the MLS listing and other ads/yard sign to our office number as opposed to the seller's contact info. This is desirable since the phrase "contact seller directly at ........" that appears in most flat fee MLS listings is another sign to Realtors® that the listing is flat fee. Since the ADDvantage PlusTM program's primary benefit is the unlimited contract representation, it only makes sense that the brokerage office take the calls on the seller's behalf. All leads are still forwarded to the seller and all unrepresented buyers who call are given the seller's contact information. Sellers essentially get full service but for a fraction of the cost.
Another way to get more showings is to offer buyers' agents a commission that is greater than the average buyer's agent commission in Florida...which happens to be 2.7%. Our Street Smart ADDvantage® sales stats show this flat fee MLS program is more successful than offering a 3% buyer's agent commission. There are two schools of thought behind the Street Smart ADDvantage® flat fee MLS strategy of offering a 4% buyer's agent commission. One, the agent will work the deal harder to get paid the extra commission. Two, a 4% or greater buyer's agent commission results in more showings. The bottom line is that when a Realtor® searches the MLS and finds 10- 20 properties in a particular search result, a 4% commission might be the determining factor the gets that particular home shown over one that offers less. Street Smart ADDvantage® marketing comes with ADDvantage PlusTM if the seller offers 4% buyer's agent commission.
Another way to get more showings is for the flat fee seller to answer calls at all times or promptly return missed Realtor® calls. Lock boxing the property can also facilitate showings when it is practical to use them. This gives agents easy access and allows them more flexibility with their schedules which can promote more showings.
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