If you were to ask a real estate agent if using a flat fee MLS listing service is a good idea, you’re more than likely going to hear no, followed by the benefits of using a listing agent.
But, it’s not that flat fee services are inherently bad. On the contrary, they provide a vital service that gives homeowners a viable alternative to selling their homes. But, the reason for this perception is that with a flat fee MLS, Ohio homeowners no longer have to pay the 3% listing agent commission to secure a lucrative sale.
The Process of a Flat Fee MLS, Ohio Sellers Need to Know
To understand why it makes sense to use a flat fee MLS listing, Ohio homeowners need to be familiar with the process and how realtors form part of that process.
The process, which is almost identical to using a listing agent, gives you more control. Additionally, by using a flat fee MLS listing Ohio, sellers can expect to make a saving of at least 10x. This is how the process works:
Prepare Your Home and Listing
As you would if you’re listing with a real estate agent, by selling through a flat fee MLS, Ohio homeowners should still prepare their home for a successful sale. This means doing minor repairs and taking some magnificent photographs. You can take the pictures yourself, but if you want to mimic the experience you’d receive with a real estate agent, consider investing the $200 cost for professional images.
Get Syndication to Local MLS
The real reason homeowners need to use a listing agent is to gain access to the local MLS. An MLS is the service buyer agents use to find properties to present to their buyers. Traditionally, FSBO sellers couldn’t access an MLS without an agent, losing out on potential buyers.
Now with a flat fee multi-listing service, Ohio homeowners can access the MLS.
The only caveat to this is to choose the best flat fee MLS Ohio sellers can access, as the features and syndication of each flat fee listing service differ.
In Ohio, the best choice remains Houzeo, which syndicates to all Ohio MLS, allows you to upload 24 images, and has a nominal cost of $319. However, you also have local options like OhioMLSFlatfee.com or national options like FSBO.com to list. These have similar costs to Houzeo but fall short regarding closing options and syndication.
Get Approached by Buyer Agents and Buyers
Once you’re on an MLS, you can expect to get approached by buyer agents quickly. Houzeo – where your listing goes live in 2 business days – also has a significant direct buyer market which means you could find buyers without an MLS. Nevertheless, for the next month or so, you’ll be contacted by buyer agents regarding in-person viewings.
Many realtors will mention negotiating as a reason to choose a listing agent. But, the truth is even with a realtor, the decision to accept the offer is yours. Using platforms like OhioMLSFlatFee.com, you’ll be required to pay an additional fee for offer and counter offer forms. But if you’re using platforms like Houzeo and FSBO.com the negotiation process is digital and comes without an additional cost.
Once you understand this process, you can make an informed decision about whether you use an agent or a flat fee MLS. But, keep in mind, with a flat fee multi-listing service, Ohio sellers can expect to save $6,000.