Beginner’s Guide: Everything You Need to Know About Flat Fee MLS Listing

Img Source - Viw magazine

If you’re already in the seller’s market looking for that one interested buyer for your house, you already know how exhausting the process could be. Gone are the days when just a ‘for sale’ signboard could sell your house in minutes. With everything going digital, walking with the trends will certainly get you more eyeballs. This is taking away the traditional method of relying on real estate agents and paying them exorbitant fees. The pandemic has bought us virtually closer, thus introducing a systematic version of selling houses termed Flat Fee MLS Listing. 

With agents charging close to 6% or more as their commission, these sizable fees have never been popularly accepted by people looking to sell their houses. Until recently, the conventional approach of hiring a realtor was their option. With Flat Fee MLS Listing coming to your rescue, selling homes has never been this convenient. 

In this blog, we’ll be addressing every question a beginner would have about Flat Fee MLS Listing. Looking to sell your house by paying a low commission? Start taking notes! 

  1. WHAT IS A FLAT FEE MLS LISTING?

The meaning of this term is exactly how it sounds – a marketplace for selling your house, these flat fee MLS listing services charge you a one-time flat fee in exchange for getting your house listed on the MLS & provide all the assistance that a traditional agent would offer you. 

Instead of paying an inordinate percentage to an agent, you agree to pay an upfront fee for their help. In return, these marketplaces agree to list your property on multiple websites that have millions of genuine intent-based visitors. 

Depending on the MLS provider you choose, you’re entitled to get service accordingly. Some MLS help you with end-to-end listing services and professionally licensed real estate agents at your disposal for every single update at a nominal flat fee.  

By listing on these platforms, you sign up for maximum exposure that entices genuinely interested buyers and listing fees that don’t burn a hole in your pocket. 

  1. HOW DOES IT WORK?

The moment you register yourself on a flat fee MLS listing website, you open your doors to potential buyers and licensed agents. Some websites might be complex while others have a pretty user-friendly interface. 

Thanks to technological advances, the interface of such websites is easy to operate, away from all complications, has no unnecessary paperwork, and quick customer service makes it one of the easiest ways to list your home. 

There are typically 5 essential steps to follow while listing your house on a flat fee MLS portal:

  1. Create your profile and fill in your details
  2. Upload the required paperwork
  3. Add clear photos of your house to give buyers a better idea
  4. Select your plan
  5. Voila! You’re done

When you list on an MLS provider, it automatically lists your property on other leading real estate websites which have a million viewers per month. 

3. WHY CHOOSE A FLAT FEE MLS LISTING PROVIDER?

Well, you could easily opt for a traditional method of selling your house but will that give you the kind of exposure that you’re looking for whilst charging you a nominal fee? If your answer is no, that is exactly why you should choose a flat fee MLS listing. 

Not only does this provide maximum exposure by charging nominal fees, but also there’s a sense of transparency. You can do all your research before narrowing down your selected MLS provider by reading their customer reviews. 

Also, some marketplaces exhibit your profile nationwide by covering more than 80 countries at a time. From New York City to California to Florida and even Illinois, they have got you all covered. 

To furthermore simplify your decision, let’s go through the pros and cons of selling your house through a flat fee MLS listing service. 

PROS: 

  • You have more control over your sale since all the flat fee MLS listings are For Sale By Owner (FSBO) in a manner
  • You save the agent’s commission by being in charge of your sale and end up keeping more profits from your sale
  • An experienced and licensed real estate agent still handles your sale and guides you through every step of the process
  • More exposure = higher the chances of a faster sale
  • Everything under one umbrella – right from your sale price to the pictures of your home to necessary paperwork, everything is taken care of under one roof itself

CONS: 

  • You need to take things under your control. Unlike a realtor doing it their way, you would be responsible for every single thing
  • You will still end up paying a realtor fee to sell your home
  • By filling in your details, you may open your doors to traditional real estate agents and irrelevant phone calls

4. TO CONCLUDE:

Img Source – MortgageLoan.com

Expect the popularity and consumption of flat fee MLS listings to boom in the coming years. With the pandemic teaching us to do everything online, selling a house could be another large move that America will experience soon. 

Go from ‘For Sale’ to ‘Sold’ by listing yourself as an FSBO on flat fee MLS listing websites and get maximum exposure in nominal fees. Save your time, money, and energy by investing one time, literally.