How do I save money with a Flat Fee MLS Listing?

So How Does a Flat Fee MLS Listing Work Exactly?” We’ll give you a few scenarios that should help you understand how much you can save and what is expected of you, as the seller, if anything. Or visit our FAQ page for answers to our most commonly asked questions.

Scenario 1:

Flat Fee MLS ListingYou are Selling a $200,000.00 home, and decide that you need to be in the local MLS where local qualified buyers are already searching with their agents. To save money, and not lose your ability to sell to an unrepresented Buyer, you list your home with Small Fee Realty. Based on a prior conversation with a local Realtor, you were expecting to pay 6% of the sales price of your home at closing in order to get into the MLS. You decide on a 6 month MLS listing for $375 and are open to paying a 2.5% commission to a Buyer’s Agent if they bring you an acceptable offer. We then install your sign and lockbox, help you determine the market value of your home, and create your MLS listing.

You are hoping to secure your own buyer in order to keep from having to pay that $5,000.00 Buyer’s Agent’s fee, so you also post your property on your Facebook page and other social media sites.

The following day, Realtors begin showing your home to their prospective Buyers. In the meantime, a Buyer who saw your home online calls you and so you take down their information. We contact them directly, make all efforts to verify that they are pre approved with a lender, and then schedule a property tour at a time that works for both you and the Buyer. We then follow up after the tour for feedback and they decide they would like to make an offer. Because you are entitled to full representation by your Small Fee Realty agent, we handle everything for you! We prepare and negotiate the offer in order to get you the best sales price, and ensure that your interests are protected. We then assist with the entire process (inspections, repair negotiations, appraisals, walk throughs) until closing when you collect your check. At closing we collect a 0.75% commission for Seller Representation. Your total out of pocket expense was  $1,875.00. This is where you jump up and down because you just saved $10,125.00 by using Small Fee Realty!

Scenario 2:

couple soldIn this scenario, you are fed up with For Sale By Owner, or your previous Realtor, and are ready for someone else to take over. You sign up for “The Gold Package”. You pay a Small Fee of $525.00, and then sit back and relax! Your job is done… We schedule a professional to photograph your home, install your sign and  lock box, determine the best list price for your home, provide all required documents for e-signatures, create your MLS listing and feature your home on hundreds of other top real estate websites.

Realtors from local brokerages begin showing your home to their prospective Buyers. After receiving an offer on your home, we negotiate with the other party to get the best price. Again, we handle everything required to get you to closing and manage any issues that may arise during the process. At closing you pay the 0.75% Seller’s Representation Fee as well as the 2.5% Buyer’s Agent’s Fee for a total of $6,500.00. You ended up paying a total of $7,025.00 to sell your home in the exact same manner you would have with a traditional 6% agent. The only difference is that you saved $4,975.00! And… this is the part where you jump up and down!

(Please note that Commissions charged by Brokers or Agents will vary. There is no set commission and the 6% commission mentioned throughout this website is for demonstrative purposes only.)