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Flat Fee MLS Listings - Is This The Future Of Real Estate
Realtors are all a buzz about this new form of listing houses on the MLS (multiple listing service). Some feel it creates more work for the buyers agent, while others see this as a way to tap into the For Sale By Owner market. It use to be when you made the decision to sell your home, you essentially had two methods available to you. You could list your home with a traditional real estate company and pay 6-7% commission or you could try selling on your own "for sale buy owner". Research shows that nearly 50% of all home sellers start out trying to sell their property on their own. Although some home owners are successful with FSBO, according to the National Association of Realtors (NAR) home seller survey, only sixteen percent of sellers actually sell their home without exposure on the MLS. And many of them end up giving away their commission savings to the buyer to close the deal. Realtors tend avoid for sale by owner properties because they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to the agent, the buyer could cut the agent right out of the deal and negotiate directly with the seller. It happens.... With flat fee MLS service, the seller has agreed in writing to pay a commission, usually 3%, to the buyers agent. This motivates Realtors to bring the seller a buyer. How it works: Real estate commissions by law are negotiable. In a flat fee listing, the listing agent agrees to a flat fee instead of a percentage of the sale price. This can be anywhere from $300-$600 for the service of adding your house to the MLS. Then you choose how much to pay the buyers agent in commission for bringing you a buyer (typically 3%). So in the sale of a $200,000 house you would pay $6,000 plus the flat listing fee, saving a close to $5,700 in commissions. The plus side is in the listing agents contract, the right to continue advertising you house FSBO. So in the event you find a buyer without an agent you save on all commissions and only pay the flat listing fee.
For real estate agents this can be an opportunity to increase revenue by listing more homes. There are many people who refuse to use realtors because of the 6-7% commissions, but are more than willing to pay 3%. With the increase of internet marketing, realtors can reach more people because all they are offering is to list the house on the MLS. Services are minimal and the listing agent really won't be trying to find a buyer for you, but rely on the buyers agents. This allows them to list properties in a larger area and in some cases in other states. With the increase of house prices, is the 6% sales commission going to survive or will flat fee listings be the wave of the future. Only time will tell... About The Author Richard Massey is a note broker with United Financial Resources and a real estate investor. You can get more information at http://www.unitedfinancialresources.com or to read more articles go to http://unitedfinancialresources.com/news.html
MORE RESOURCES: These are the best and worst cities for first-time homebuyers in New England and beyond, new study says The Boston Globe The real estate market: 5 key themes to watch this week Real Estate News by RealEstateNews.com Blackstone's Wesley LePatner, a mentor to women and real estate investing leader, killed in NYC office shooting Business Insider Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News Troy Furbay has been appointed Managing Director, Hospitality at Crescent Real Estate LLC Hospitality Net ‘Walking beside him’: Daughter continues stepfather’s real estate dream Mountain Home Observer Richland County property transfers recorded July 21-24 Mansfield News Journal I-78/I-81 Corridor commercial real estate activity picking up Lehigh Valley Business Double digit price increases for Putnam real estate Mid Hudson News Real Estate Expert Jody Wainio of Buyers Choice Realty Shares Advice on Mortgage Pre-Approvals in HelloNation GlobeNewswire Real estate: Condo prices rise in Indian River County; fall in Martin, St. Lucie counties Treasure Coast News RE/MAX revenue continues to slip despite agent gains Real Estate News by RealEstateNews.com Haag-Brown Commercial Real Estate to open Bentonville office Talk Business & Politics Inside Zillow’s summer launch: 5 new tools built for agents - Real Estate News by RealEstateNews.com Inside Zillow’s summer launch: 5 new tools built for agents Real Estate News by RealEstateNews.com US industrial real estate investor Terreno sells $82m portfolio IPE Real Assets Executive Killed in Manhattan Shooting Was CEO of Blackstone's $53 Billion Real Estate Megafund Realtor.com Top residential real estate sales for July 14-18 in Longboat, Lido, St. Armands, Bird Key Your Observer Real estate transfers: 7/30 Toledo Blade Leading Arizona Real Estate Team JBRE Joins Real Brokerage, Bringing $310M Sales Portfolio Stock Titan Arkansas Commissioner of State Lands to auction more than 700 tax delinquent real estate parcels Thursday Hot Springs Sentinel Record Real Estate Transactions | July 14-18, 2025 Republic-Times Real estate office renovating former daycare The News-Enterprise Slain Blackstone executive Wesley LePatner was a real estate powerhouse Crain's New York Business Atlanta real estate tycoon Tom Cousins has died at 93 Rough Draft Atlanta America's Unhinged Real Estate Market Is Driving Down the Birth Rate Business Insider Exclusive: Apple to buy another Silicon Valley campus for $365 million San Francisco Chronicle News | UK commercial real estate investment slips slightly to £10 billion in second quarter - CoStar Ledge Road property in Newport sold for $3.3 million tops latest Newport County sales Newport Daily News Real Estate Giant Anywhere Gives 100,000+ Agents Free Access to Canva Enterprise AI Marketing Platform Stock Titan Christie’s Debuts Crypto Real Estate Division The New York Times Los Angeles Area Wildfires Destroyed Nearly $52 Billion in Homes Last January The World Property Journal Real estate trends highlighted Morrow County Sentinel Alex MacWilliam of Alex MacWilliam Real Estate in Vero Beach Shares Hurricane Preparedness Strategies to Protect Property Investment in HelloNation The Manila Times Asia Pacific commercial real estate investment surges to $31.2b in second quarter 2025 Institutional Real Estate, Inc. Luxury Presence Debuts the First Fully Autonomous AI Marketing Team for Real Estate Agents Business Wire Santa Monica Ranks Second Most Expensive for Rentals as Real Estate Market Shows Mixed Signals Santa Monica Daily Press Easton home on Sierra Drive that sold for over $1M 'epitomizes one-of-a-kind luxury' Enterprise News Population Growth in England and Wales: A Boon for Real Estate and Social Infrastructure Sectors AInvest Hamptons Real Estate Market Data – Week of 7/22/2025 Hamptons.com Boardwalk Real Estate: Q2 Earnings Snapshot San Antonio Express-News RealPage buys Rexera, maker of 'AI agents' for real estate deals The Business Journals Judge sides with LGBTQ+ Alliance in battle with ex-CEO Real Estate News by RealEstateNews.com Blackstone’s LePatner killed in NYC shooting Private Equity Real Estate | PERE Apollo Commercial Real Estate Finance, Inc. Reports Second Quarter 2025 Financial Results Quiver Quantitative One of the world’s largest luxury real estate firms wants to help you buy a house — with crypto New York Post Commercial Real Estate Still Has a Software Problem Commercial Observer The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards Appraisal Buzz |
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