flat fee MLS listing service

**scratch416** · 10-27-2010, 07:36 PM

I have a few questions regarding flat fee MLS listings/services:

Are flat fee listing services such BuySelf.com reliable?

I would rather contact a local agent and pay them to create a listing in the local MLS database. How many of you licensed agents have or would provide this service? Is it even legal in regards to real estate policies, generally speaking. (specific location is Knoxville, Tennessee)

Can agents differentiate between a full service listing and a flat fee MLS listing? If so do agents tend avoid these types of listings because the home owner is not willing to pay a commission fee?

What do agents get out of showing/selling(if anything) a home listed as for sale by owner or listed under a flat fee service contract?

Any additional comments or information you can give me regarding flat fee MLS listings would be much appreciated.

Thanks

**jimmysyf** · 12-04-2010, 10:04 PM

I am a real estate agent in Houston, TX. The most common commission structure is 6% that should be split 3% for each agent in the transaction.

I can NOT touch the 3% of the buyer's agent, but I can do whatever I want in my commission. I can offer as low as 1% (Total 4% to the seller) or flat fee depending on the seller's situation. It is your money and you have the flexibility to use it. Not sure if you have any restrictions in your market (I doubt) but it gives you the opportunity to compete with other agents because you can save money to the seller.

Some agents put a minimum limit on offering 1%. They will not do it for a house less than $150k. So it is up to you on how you want to use it.

**holdingservice** · 12-04-2010, 11:17 PM

In Missouri (I'm sure in other states as well) this is legal. This has become a common way of selling property in Missouri; however, you usually get what you pay for. Meaning, flat fee listings do not come with the many perks that you get if working with an agent who is working for their 3%. Agents market (show property, place ads, etc) and do a lot of driving clients around to get property sold, so when you decide on a flat fee listing, plan to do most of the leg work on your on. What you usually get is your home listed in the MLS system which is used by most agents and a sign in your yard. You may also get a lockbox or supra key, but that's about it.

Hope this helps.

**byHomeOwner** · 12-09-2010, 10:01 AM

I think you need to speak to a real estate agent in your local area to know what the local laws area. Every area is different.

If you are a serious seller remember that the vast majority of people that try to go FSBO end up using a real estate agent to actually sell there home.