The complexity and expense of selling a home lead sellers to opt for alternative methods other than using a traditional real estate agent. Some homeowners choose a sell-as-is option, especially when they require prompt results. However, an increasing number of people choose to sell their property for sale by owner (FSBO).
The commission fees received by a real estate agent could mean thousands of dollars out of a seller’s pocket. However, the homeowner also needs to factor in expenses associated with marketing and advertising. The most productive way for an FSBO seller to market a property is through a flat fee MLS listing.
Sellers strive to maximize their economic benefit when listing their property, especially during financial uncertainty. A flat fee MLS listing service may also cover associated costs such as advertising, marketing, and staging. The health of the housing market is a barometer for the economy in general. When the economy suffers, it affects new construction and housing sales activity. During troubled economic times, cutting costs and maximizing profits with a flat fee MLS listing service makes sense.
Define MLS Listings
Nearly 150 years ago, players in the housing industry discovered that everyone benefited from cooperation. The realization that sharing information led to increased profits for real estate agents and sellers helped create the multiple listing concept in the 1880s.
Today, the modern housing industry boasts multiple listing services that feature a digital collaborative database with continuous updates. Real estate agents can access these listings by paying a monthly fee and updating their credentials. The fee that real estate agents pay to the MLS broker is in addition to the monthly membership fees they owe to the National Association of Realtors or NAR.
Why Sellers and Buyers Hire Real Estate Agents
Access to the MLS listings gives real estate agents information on details such as square footage, amenities, school districts, and neighborhood features. They can also view the latest photos of the property.
Full access to this information allows real estate agents to inform both sellers and buyers of the housing inventory and compare similar properties to ensure a fair price, whether on the selling or purchasing end of the transaction.
Real estate agents also possess marketing, financial advising, staging, and mortgage processing expertise, including closing and associated paperwork.
The requirements differ from state to state, but acquiring a real estate license obligates the person to months of study, spending thousands of dollars on tuition, and signing up for continuous education to keep the credentials valid. This level of commitment explains why real estate agents charge significant commission fees.
How Flat Fee Listing Services Work for FSBO Sellers
Unless you intend to sell your home to a family member and agree on prearranged terms or you possess a real estate license, it makes sense to employ a flat-fee MLS listing service. Trying to market your property through social media or conventional advertising seldom brings the desired results.
Benefits of Using a Flat Fee MLS as an FSBO Seller
Companies such as HomeZu allow you to list your home with MLS for six months, starting at a flat fee of $399. You may also upgrade for a longer duration of service and add help with marketing and staging. The basic flat fee package also includes room for up to 25 photographs. With over 600 MLS regions throughout the United States, homing in on the areas that make sense for your property translates to competitive offers and faster sales.
Steps to Take When Employing a Flat Fee MLS Listing Service
The user-friendly process includes the following steps:
- Sign up for the service from the website by selecting your state and region. Some homeowners choose multiple areas to increase their market reach or look for their future home. Choosing more than one region may increase the amount of the flat fee service.
- Follow the user-friendly platform to create your listing. Provide pictures that show an established purpose for each room of your house.
- Indicate if you wish to show your home by appointment or give access to agents through a lockbox.
- Look at all offers and select the one that best meets your needs. You may continue to show your home until financing is finalized.
- Close and celebrate.
We’re Here to Help
In times of economic uncertainty, many homeowners seek an economical and efficient method to sell their properties and move on. At HomeZu, we’re here to take the stress out of the process and provide the services you would receive from a real estate agent for much less of a financial commitment.
