Real Estate

Mar 31 2017

Flat Fee MLS #pocatello #real #estate

#real estate mls listings

Save Thousands in Real Estate Commissions

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What is FLAT FEE MLS? Flat Fee MLS is a model often used by For Sale By Owner (FSBO) sellers to offer Real Estate through a Broker in the R EALTOR ® Multiple Listing Service but in an а la carte capacity. A similar service in the investment industry would be Schwab™ or eTrade™. FSBO Sellers go to a Flat Fee Realtor ® who for a low Flat Fee will list their home in the Realtor ® Multiple Listing Service. The reason the service is called Flat Fee MLS is because unlike traditional listing real estate brokers, a Flat Fee MLS listing broker is not compensated on a percentage of the sale or the rental price for the listing side of the transaction. Instead that fee is substituted with a low Flat Fee. MLS is a marketplace used by REALTORS ® to exchange information about their listed properties in very much the same way that stock brokers put shares of stock they are selling on the NYSE or NASDAQ • With a Flat Fee Listing sellers can save tens of thousands of dollars selling real estate. The Flat Fee Model is the real estate model of the future. • It’s most appealing to Do-It-Yourselfers which encompasses most For Sale By Owner sellers.

Back to the seventies, studies have been conducted to determine what percentage of houses sell through a R EALTOR ® vs. For Sale By Owner (FSBO). The National Association of R EALTORS ® (NAR) surveys show a consistent mean listing ratio of 85:15 (For Sale By R EALTOR ® to For Sale By Owner respectively). A traditional R EALTOR ®. MLS Listed property would attract on average 85% of the buyers and a For Sale By Owner property would get on average 15% of the market. Flat Fee MLS Listings have a distinct advantage over both sales models as they get 100%? Flat Fee MLS Listed properties are offered to buyer working with R EALTORS ® and without R EALTORS ®. If the buyer is working with a R EALTOR ®. the seller pays just the buyer’s R EALTOR’S ® side of the commission replacing the listing side with the low upfront pre-paid fee. In contrast if the buyers is not working with a R EALTOR ® then the buyer pays only the upfront low Flat Fee MLS listing fee. The buyer saves between 50% and 100% of the commission he/she would normally pay but attracts 100% of the market. Flat Fee MLS is a win-win for any seller and similar for landlords too.

The goal in marketing real estate is competitive bidding to drive up the price of the property. The bigger the market, the greater the odds are of getting top dollar. Why would anyone want 85% or 15% respectively when they could have 100% with a Flat Fee MLS listing.

When marketing real estate, focus on 100% exposure because that’s what you deserve.

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