The attraction of selling your home without a realtor is conspicuous — why pay 6% commission when you can get away at a fraction of the cost? With flat fee MLS, it’s possible to list your home at a flat rate.
And as daunting as it may sound, it can be a seamless process.
Flat Fee MLS companies charge a standard rate to list your home on multiple listing services (MLS), an online database of homes in your region. These companies provide an alternative to selling your home with a realtor or brokerage firm. You can list your home at a fixed charge through a Flat Fee MLS company and save money.
Let’s check out everything we need to know about Flat Fee MLS.
1. What is a Flat Fee MLS Listing Service?
A flat fee MLS listing service will list your home on the MLS at a flat rate. The Multiple Listing Service (MLS) is an online regional database of homes for sale. An MLS advertises these properties to local real estate agents. The MLS listings get syndicated to real estate websites like Zillow, Realtor.com, Redfin.
If you’re a home seller, getting your house on the MLS will increase visibility and more exposure means attracting potential buyers.
Only licensed real estate agents and brokers can access and list on the MLS. That’s where flat fee MLS companies come into the picture. They provide listing services for a fixed charge, helping you save on the usual 2.5%-3% commission that a listing agent charges. In the flat fee MLS listing, you briefly describe your property, give 6-25 photos, and expect to retain this listing on the MLS for 3-12 months.
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2. What Does a Flat Fee MLS Listing Service Offer?
Usually, you get listed on the MLS at a fixed one-time fee when you go for a flat fee MLS listing service. It’s the upgrades that can cost you a few hundred dollars.
MLS listing companies may offer services like marketing, staging help, open houses, showing requests and negotiation support, pricing advice, help with paperwork, and more. The pricing tiers of flat fee MLS companies are based on these criteria.
A flat fee MLS listing service provides an “Entry Only” service, unlike a “Full Service”, where a real estate agent works with you full-time to market your house, handle showing requests, and anything associated with the sale of your property. When you go on the For Sale By Owner (FSBO) route with a flat fee MLS listing, you’ll need to handle these things yourself.
|Real Estate Service||Full-Service Listing||Flat Fee MLS Listing|
|Market house by listing property on MLS||✅||✅|
|Schedule Showings with buyers and buyer agents||✅||❌|
|Present and explain offers from buyers and buyer agents to sellers||✅||❌|
|Advice the seller about various offers||✅||❌|
|Assist the seller in negotiations||✅||❌|
|Save the seller with a low flat fee instead of hefty commission||❌||✅|
Flat fee MLS companies also provide these services with an “a la carte” menu for home sellers requiring additional assistance. Services for marketing with yard signs and professional photography or purchasing support for contracts, paperwork, and closing.
3. Why Use a Flat Fee MLS Service?
40% of buyers looked at properties online in their home-buying journey.
A flat fee MLS listing service will post your home on MLS so that local buyers can find your property. The MLS is a powerful marketing tool because listings of the MLS are automatically populated on Zillow, Trulia, Realtor.com, etc. Zillow has ~2M daily active users, so your home gets immense online exposure.
When you list your home using a flat fee MLS service, you save the 3% listing agent’s commission and only incur a fixed rate. And once your listing is on a real estate website, you amplify the chances of a successful home sale. Just at a flat fee, your house gets exposure, and you save thousands.
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4. Are Flat Fee MLS Listings Worth It?
The major benefit of flat fee MLS listing services is the savings. With a flat fee service, you pay only a few dollars, saving 3% listing agent’s commission. In the case of traditional real estate, you’d incur a hefty 6% commission.
Another benefit is control over the transaction. Pricing your house, marketing, running an open house, negotiations— you have full control and autonomy in home selling.
Getting your home sold quickly for top dollar is ultimately the goal. When you choose flat fee MLS listings, you save even more money.
5. Is Flat Fee MLS the Fastest Way to Get Listed?
Yes. With Flat Fee MLS Listings, because there is no third party involved. You do all the work directly.
When working with real estate agents, you have to coordinate everything and after your revised documents are ready, only then those revisions reflect in your MLS listing. This manual intervention can take up to 3+ days.
Flat Fee MLS sites like Houzeo have digitized the mandatory paperwork as detailed milestones in the home seller’s dashboard. The comprehensive listing process is seamless and 100% online, facilitating instantaneous changes whenever required.
💡 Explore More: Houzeo Reviews: Everything You Need to Know
6. What are America’s Best Flat Fee MLS Services?
Several companies sprung up to help home sellers save their money. The following table compares America’s best flat fee MLS listing services
|Hidden Fees||None||None||⚠️$150||⚠️$150||⚠️$450- $2,999|
|Offers Directly to You||✅||❌||❌||❌||❌|
7. What are the Best Flat Fee MLS Services Near Me?
We’ve compiled a list of the best flat fee MLS services available in each state. All you have to do is click, compare and choose!