So How Exactly Does Flat Fee Real Estate Work?
Well, it's simple really. It used to be that when you made the decision to sell your home, you pretty much had two choices. You could either list the home with a traditional real estate broker and pay 6% commission*, or you could try to sell it on your own.
If you were to list with a traditional agent, you’d pay around 6%* of the selling price to them at the closing. Usually half of that money goes to the listing agency, and the other half goes to the broker representing the buyer.
What we do for our clients is unbundle traditional real estate. We let you choose what arrangement works best for you. We have packages for clients that are comfortable with showing their property to prospective buyers and making arrangements with an attorney all the way up to a full service package for clients that feel more comfortable with having a professional REALTOR handle the buyers and contracts.
We are offering you more options. If you use one of our "FlatListed.com" flat fee listing packages you only pay an upfront fee for us to list your property and we provide you the same marketing tools that professional REALTORs (like us) use. This means, if you choose to, you would now only have to pay half of the typical commission to the broker representing the buyer, and you only have to pay this if the buyer has a broker! That's right...because we refer all unrepresented buyer's directly to you it allows you the opportunity to sell your home without paying a buyer's agent. Buyer's agent commissions are highly recommended, however we leave that decision in your hands.
We allow sellers to take advantage of the great exposure power of MLS (Multiple Listing Service). Your MLS listing not only increases your exposure, it opens your home to a greater pool of buyers. It will provide an extra avenue of buyers who utilize real estate agents and typically stay away from traditional for sale by owner listings.
- What is the MLS?
The Multiple Listing Service or MLS is a cooperative marketing system which allows professional Realtors® to share information about real estate for sale. It is the most powerful marketing tool for a homeowner to sell their home. Regardless of which company an agent works for, he or she has access to the same data base through their local board of REALTORs. It’s only available to Realtors and not to the public. The MLS feeds data to many different real estate websites including REALTOR.com.
We encourage you to meet with any "traditional" agent in the area to see what they are offering you and how much commission they are charging. Take that information and compare it to what you can get with one of our packages and we are confident we have an option that provides the same or similar marketing for less.
To read more about the flat fee real estate option from the United States Department of Justice click here:
Competition and real estate: Discount brokers can make home selling less costly.
To estimate your savings use our Savings Calculator.
*Any reference to 6% commission on this site is for comparison purposes only. Commissions vary from company to company as there is no set rate.