Are you struggling to sell your house? You are not alone! The real estate marketplace can be quite confusing and tough, especially if it is your first time. On one hand, you might have realtors promising a quick sale in exchange for high commissions. Some want to offer an agreement known as a flat fee MLS listing promising to get you, buyers, faster. What does this term mean? Is it the best deal for you? Well, let's do a quick breakdown of this to help you make the best decision for your situation.
What is Flat Fee MLS Listing?
MLS refers to Multiple Listing Service or System. It's a database where agents can access houses for their clients and list those they want to sell. There are two common types of MLS listing services depending on how you get your house listed in the database, i.e., a flat fee MLS listing and a full-service MLS. In a flat fee MLS listing, the realtor will charge a onetime fee to get your house listed to the database. Unlike in the full-service option where you work with an agent throughout the sale process, you will be in charge of all the negotiations given that your contact info is relayed along with your house listing.
The Benefits of a Flat Fee MLS Listing
Flat Fee Listing approach gives you a wider exposure to genuine potential buyers than you would achieve when advertising for the sale on your own. Frankly, if you decide to pursue the sale without the input of a real estate agent, you will struggle to make that sale unless you have some very good connections in the property market. Still, it may not be very fruitful, which is why you need a skilled hand in the sale.
An experienced real estate agent knows all the tips and tricks in the industry and will help you to list the property to the right place to attract potential buyers. Listing your house through other channels may sound like a good idea but you might end up getting frustrated. Listing your house through traditional ad channels can even lead to real estate fraud. Hackers can mine data from your listing and use it against you. These kinds of risks are reduced in an MLS listing type.
The flat fee listing also helps you to save money and accrue the best deal for the house. With the full-service MLS listing, many real estate agents would ask for a commission fee. In a flat fee listing approach, if you agree on a flat fee the agent will not ask for more even if you will sell the same house for more.
In conclusion
A flat fee listing will help you save some cash as you list your house in the best marketplace to increase the odds of selling quickly. You will also avoid real estate fraud using this type of listing to sell your house.
