Flat Fee MLS Listing

2007-05-02 10:04:19

( Business )



Selling a property without the help of a real estate agent would certainly save you money on commissions. However, you may find it hard to locate a buyer because you have less experience in selling real estate properties, and you do not have the tools like those utilized by practicing real estate salespersons.

When you list your home with a real estate salesperson, the information will be transferred into a computer system called multiple listing systems, or MLS listing. The MLS listing states the address, listing price, sizes and types of the rooms in your home, description of the property, any outstanding loan fees, tax information, school district and township. Buyers who tapped the services of real estate agents will search the properties available on the market through the MLS. The MLS listing allows you to tap all real estate salespersons within the local realty board to help sell your home.

So when you plan to sell your home, your main objective must be to get your home listed on the MLS. There are a number of ways to do this. You can retain the services of a real estate salesperson or broker at full commission. (This is an expensive option.) Or, you may try negotiating for lower commission fees or a flat fee MLS listing with a real estate salesperson.

Or, you can make your own research over the internet for real estate companies that offer flat fee MLS listing in your market. Your mortgage loan officer, the title company, and real estate lawyers may have information about companies that provide for a flat fee MLS listing. Although you will not be paying for the full commission for a flat fee MLS listing, be aware that you will still be required to pay 3-percent commission to the agent who connects you to a buyer through the MLS listing.


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