✍️ Queen’s Note: Real Estate Queen does in-depth research on real estate services and simplifies it for our readers. This guide compares all the major Flat Fee MLS New Mexico companies in based on the criteria that are most important to home sellers: affordability, customer service, exposure, technology and transparency.
New Mexico had a population of 7.28 million people in 2021. This was a modest increase from the previous year when the state’s population was estimated to be at 7.18 million. In 1960, the population of New Mexico was estimated to be around 1.3 million people. New Mexico is among the most expensive states in the country to live in. One always needs to be updated for the best option for Flat Fee MLS New Mexico.
We have ranked and reviewed the top 5 Flat Fee MLS New Mexico companies, to help you make an informed decision.
» In this guide, we’ll cover:
- Rankings of New Mexico Flat Fee MLS Listing Services
- How Much Does Flat Fee MLS Listing Cost?
- Reviews: 5 Flat Fee MLS New Mexico Companies
- Hidden Fees in Flat Fee MLS listing companies
- Final Note
- Frequently Asked Questions
Ranking of New Mexico Flat Fee MLS Listing Services
|Flat Fee MLS Service||Price||Hidden Fees||100% Online||Offer Management||Showing Management||5-star Reviews||Mobile App|
|1. Houzeo||$229 – $449||None||✅||✅||✅||✅||✅|
|2. MLS My Home||$84-$184||None||⛔||⛔||⛔||⛔||⛔|
|3. Affordable Realty Services||$495-$1,995||None||⛔||⛔||⛔||⛔||⛔|
|4. Hardy & Co. Real Estate||$395-$695||$3,000||⛔||⛔||⛔||⛔||⛔|
How Much Does Flat Fee MLS Listing Cost?
There are 2 types of costs related to a Flat Fee MLS listing
- Initial Flat Fee: You’ll have to pay an upfront fee to list your home on MLS. Usually, the initial fee ranges between $300 and $500.
- Closing cost: Once a home seller strikes a deal and closes it, they have to pay a part of their equity on home inspection fee, title and home insurance fees, seller and buyer agent commissions, and home warranty as a closing cost of their property.
Reviews: 5 Flat Fee MLS New Mexico Companies
2. MLS My Home
💼 Packages: With MLS My Home’s packages, users get an opportunity to post six images while listing for six months on MLS. Their listing varies from $84-$184.
✄ Customization: MLS My Home is a platform that assists users to work with licensed agents that authorizes them to list their properties on multiple websites. The platform claims to be one of the best Flat Fee MLS New Mexico companies.
📣 Maximum Exposure: The platform is not available in all of New Mexico, so we recommend checking your locality before buying a package.
📝 Note: MLS My Home takes five days to list your property online. The package pricings vary with locations.
- Cheapest options for Flat Fee MLS New Mexico
- Syndicates with other listing websites
- The basic package has only six photos included
- Covers selective areas of New Mexico
- No built-in home evaluation feature
MLS My Home has a 2 out of 5 ratings (259 total reviews) on the popular review site Trustpilot.
MLS My Home serves only in selective areas of New Mexico.
3. Affordable Realty Services
Available in most areas in New Mexico.
4. Hardy & Co. Real Estate
Hardy & Co. Real Estate covers 17 counties in New Mexico.
🧰 Packages: It provides you fixed fee MLS listing services in New Mexico on packages worth $99.95 to $399.95. It provides you with cost-effective plans to complete your real estate transactions of buying and selling properties.
It is one of the oldest real estate platforms that help to ease the process of buying and selling houses since 1997.
🔑 Key Features: FSBO.com helps you list your home on their website and on MLS for a flat fee. It increases the chances of getting the properties sold faster. It helps to provide fixed fee MLS listings across major cities of New Mexico.
💁♀️ Suitability: It is suitable for mainly the sellers who want to list their properties on MLS and on such a huge platform as FSBO.com.
✋ Beware: It provides you with a yard sign feature but at an extra cost.
- Allows to upload unlimited property photos
- Access to edit or re-list anytime
- Enhance the chances of selling by listing on MLS and FSBO.com website
- Assign you a broker to assist with listing instead of doing it itself
- Charges you extra for lockboxes, yard signs
- You need to pay additional charges for accessing seller disclosures
It has 3.2 out of 5-star ratings on Trustpilot (only one review).
Its reach is also limited as it serves only the major cities of New Mexico.
Hidden Fees in Flat Fee MLS Listing Companies
Some Flat Fee MLS companies are not upfront about their fees. These hidden costs could go up to thousands of dollars and have a significant impact on your savings. They might say that they take a flat fee but might charge you a percentage of commission at the time of closing.
We have compiled a list of the average hidden fees that may be charged by some Flat Fee MLS listing services.
|Types of Hidden Fees||Cost||Description|
|1. Cancellation Fees||$50-$200||If you need to cancel your listing, you need to pay cancellation charges. However, some companies do allow free cancellation, if you cancel before your listing goes live. |
Example: Flat Fee Group charges $25 for cancellation.
|2. Listing Changes Charge||$25-$50||If you need to make any changes to your listing, companies charge extra for that.
Example: Flat Fee Multiple Listing Access charges $10 for listing updates.
|3. Expensive Listing Upgrades||$50-$100||If you need to add more photos to your listing, post an open house or avail a showing management tool, you will be charged extra for these upgrades by some Flat Fee MLS service providers.
Example: Congress Realty charges $50 for listing extension; whereas List With Freedom charges $25 for Open House postings and $59 for Showing Scheduler.
|4. Additional Upgrades||$50-$200||Any service that is not part of the package you sign up for. These are additional services that you need to pay for separately, i.e, Photography, Market Research, Contract Review, etc.
Example: Flat Fee Group which offers pro photography at $290.
|5. Expensive Yard Signs||$100-$150+ $120 (deposit)||Expensive charge for yard signs, even though these yard signs are given on a rental basis.
Example: Homecoin charges $99 for a rental yard sign.
|6. Lockbox Charges||$100-$200||Lockboxes are given on rental for a small charge. However, some Flat Fee MLS companies charge a huge sum as lockbox rental fees.
Example: Homecoin charges $125 for lockbox even though it is on a rental basis.
|7. Commission at Closing||0.1-0.5%||Some Flat Fee MLS companies charge a commission at the time of closing, as a hidden seller agent fee. This fee is often undisclosed and charged to the seller once they close a deal. Sometimes this fee is also masked as a compliance fee.
Example: Flat Fee Realty which charges 0.1%- 0.25% at closing in some states.
|8. Flat Fee at Closing||$750||Fixed Fee companies charge an additional flat fee at closing which is not mentioned upfront.
Example: FlatFeeMLSRealty which charges a flat fee at closing ($350 + $400)
|9. Escrow Charges||$1K-$2K||Some Flat Rate companies charge for escrow at the time of closing.
Example: Vegas Flat Fee charges $995 compliance fees at closing
|10. Seller Disclosures||$100-$200||State-required seller disclosures are unavoidable. Few companies charge for this service as well.
Example: Yager Realty has seller disclosure feature only in their premium packages. Since seller disclosures are imperative to listing, you need to only go for their premium packages!
|11. Application Fees||$50-$100||Few companies charge non-refundable application fees.
Example: List with Freedom charges $50 as application fee.
Note: This table is a generic list of all the hidden charges that various Flat Fee MLS companies charge. It will vary depending on the company you choose.
While some of these services are mentioned in their a-la-carte services, if you still need a lot of support for selling your house, you might need to consider going with a realtor.
New Mexico Housing Market Trends
Currently, New Mexico Housing market is one of the most competitive and hot housing markets within the United States.
The year 2022 will be the sellers’ market completely. The market is hot and competitive in the state. The median home values in New Mexico are $276,185 The percentage of properties for sale in New Mexico is 72.0 which is huge.
Among all five MLS listing companies in New Mexico, we have ranked Houzeo as the best because it fulfills all your requirements to make your home selling process smooth and hassle free.
As per this blog, you will have package options ranging from $229- $1,995 through different fixed fee MLS services. Every platform has its specialty. Now, it is up to you to decide what suits you the best, as per your requirements.
Frequently Asked Questions
What is a Flat Fee MLS?
Flat-fee MLS refers to the practice in the real estate industry of a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction.
Is Flat Fee MLS Legal?
Flat Fee MLS is legal all over the United States, including in New Mexico. In fact, the US DOJ just updated their bulletin highlighting the benefits of Flat Fee MLS for For Sale By Owner home sellers.
What is the difference between Flat Fee MLS and Traditional Agent?
A traditional broker commission model is usually 6% on closing, which is going to cost more for you as home seller. A Flat Fee MLS on the other hand, asks you a flat fee instead.
Which is the best Flat Fee MLS in New Mexico?
The best Flat Fee MLS in New Mexico is:
2) MLS My Home
3) Affordable Realty Services
4) Hardy & Co. Real Estate
How much do Flat Fee services cost in New Mexico?
Flat Fee services in New Mexico could cost you around $229-$1,995.
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