| How does it work? |
| (Click here if not familiar with MLS) |
| Flat fee mls works because there are two real estate agents involved in the sale of almost every house: the "listing agent" who works with the Seller, and the "buyer's agent" who works with the Buyer. |
| Listing Agent |
Listing agent tasks |
|
Buyer's agent |
Buyer Agent tasks |
 |
1. Put home in local MLS
2. Assist in setting price
3. Provide "For Sale" sign and newspaper ads.
4. Host an open house |
|
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1. Search MLS for homes that match Buyer's wishes.
2. Take Buyers to see homes.
3. Prepare offer and assist with negotiations |
| $6,000 (3%) |
|
$6,000 (3%) |
|
On a $200,000 house, the Seller typically pays 6% commission ($12,000) which is split evenly, with the "listing agent" getting $6,000 and the "buyer's agent" getting the remaining $6,000 (yes, the Seller pays the "buyer's agent"). |
A flat fee listing eliminates the $6,000
that goes to the "Listing Agent"
and replaces it with a "flat" fee of $199 - $599
|
The Seller is still obligated to pay the Buyer's agent
but in most areas the Buyer's agent will accept 2.5% or $5,000 in our example of a $200,000 house.
Instead of $12,000, the Seller pays $5,000 plus the listing fee for a savings of over $6,000 |
Below are some brokers we have found to offer dependable
flat fee MLS services |
California
|
Bill Johnson bill@mlsnca.com , 707-823-3095 |
| Connecticut & Massachusetts |
Mary Ann Juliano hotlineproperties@comcast.net |
| Georgia |
Sue Thomas sthomas@c21clickit.com , 678-344-1600 |
| Illinois |
Bruce Golden brucepgolden@yahoo.com ,773-248-4905 |
| St Louis, Missouri |
Robert Strait bobbystrait@yahoo.com ,314-837-8585 |
| Texas |
John Prell , 214-696-4663 |
| Washington state |
Ken or Chris Nye at MLS4owners or Chris Nye, 253-274-1166 |
| Other states |
Wayne Aronson waronson@yourigloo.com , 954-421-9885 ext 103 |
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| No Free Lunch: For his relatively small fee, the "listing agent" performs only one task: he puts the home in the local MLS. He or she does not assist the Seller in setting a selling price. He does not provide a "for sale" sign for the front yard. He does not place ads in local newspapers and he does not host an "open house" for local realtors and prospective buyers. |
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