Flat Fee FAQs
What is Flat Fee?
You may hear the term “Flat Fee Listing”. So what is it? Flat fee home selling, we believe, is and will be the new standard in real estate selling vs. the traditional 5%-6% real estate brokerages. We charge a "FLAT FEE" at the time of the home listing, which covers the agents time and expenses in getting your home up for sale correctly. After a successful closing there will be a flat fee commission of $1500 for negotiating/facilitating your home sale. As a result, this is saving today’s home owners thousands, if not tens of thousands of dollars! based on the sales price. As technology, marketing, and communication increasingly advance, this model has become far more superior In today’s challenging economy, home sellers are in a dire need of an advantage and cost savings when trying to sell their property. This has proven to be the most efficient solution for today’s home owners who are looking to get their home sold fast, for top dollar, with the least amount of hassle.
What is "MLS"?
MLS stands for “Multiple Listing Service”. Some form the opinion that MLS is nothing more then a single giant database of homes, when in reality, there are over a thousands of individual Multiple Listing Services across the country. They are all separate from each other, and broken apart over each state. In Wisconsin, for example, we have 4 MLS data bases. That’s why it’s so important to be listed correctly in your local MLS. Our local MLS allows us to push out new property data to national and local 3rd parties websites like: Realtor.com, Trulia.com, Zillow.com, and most local area brokerages. This information is shared with other brokerages and websites to give your home the most exposure and allow for those websites and brokerages to procure interest in a subject property.
NOTE: Some information, such as: commissions offered to cooperating agents and owner contact information are only displayed on the local MLS for licensed agents to view, and not on the national public websites.
Why Being Listed In MLS Is Important?
- Over 94% of all properties sold in the US are as a result of MLS listing exposure. MLS is the main source of property information distributed locally and nationally. It is the "main tool" used in the real estate marketplace.
- Being listed in MLS means that all the local realtors, and those with MLS access, can find your home in their MLS database.
- Realtors and brokerages put home buyers on an automatic emailing system. If you list your home in MLS, and it is in the location and price range of that buyers perameters, your property will automatically be emailed via that broker's client list. Yes, it will have that broker's information attached, but it will be in front of someone currently searching for a home.
- Once listed in MLS your property is distributed for sale on thousands of national real estate sites like: Zillow.com, Trulia.com, & Realtor.com, just to name a few.
- Your MLS listing is also distributed to all other local brokerage websites as well. We all share information in an effort to procure a sale for your home.
- If listed in MLS, you have a brokerage and agent assigned to your listing.
- MLS listed properties sell faster and at a higher price than NON-MLS listed properties. Only about 5% of those not listed have success when selling. We offer MLS ONLY FLAT FEE selling plans for as low as $299.
Why is a Flat Fee MLS Listing is Better than Listing with a 6% Realtor?
- You receive the exact same MLS exposure as any traditional and local brokerage.
- There is NO COMMISSION to be paid if there is no buyers agent involved.
- You can tailor a marketing plan with your listing agent vs. paying thousands more for equal services and communication.
- There’s more exposure on hundreds of national MLS websites we want to see you make!
- Our homes sell faster because our sellers can price their properties more aggressively due to the savings in commission!
- You become more negotiable. Since you may have a larger cushion, you can afford become more negotiable vs trying to price in excessive commissions. A lot deals are lost over a matter of one or two thousand dollars and we are putting that back in your pocket by saving you thousands.
- Your agent has a vested interest in getting your property sold and moving forward with you in the purchase of your next home.
Why is a Realtor Needed to List Your Home in MLS?
Being apart of MLS comes some responsibility and credential. An individual can’t simply post an “ad” in MLS, like placing an ad in a newspaper. MLS requires a real estate broker hold a valid real estate license and keep current with their license. MLS also requires being apart of a local real estate board in which the agent practices. All brokers are to abide by MLS rules and procedures. The real estate broker is responsible for the accuracy of the listing,record keeping of listing agreements, and sales documents. You must have an active listing agreement with an agent to be listed in MLS. When listing your home for sale, the REALTOR that you work with will be representing and assisting you from start to finish. That agent will be responsible for MLS entry along with any and all changes to the original listing agreement, such as price reductions or changes in terms.
Flat Fee MLS vs. FSBO
Our services provide greater exposure than traditional For Sale By Owner (FSBO) marketing services. The cost savings can range from good (you pay our flat fee + agent commission) when an agent is involved in the transaction, to great (you pay only our flat fee) when you deal with the buyer directly. You always retain the right to hire us back to facilitate any offers. Listing your home on the MLS not only increases your exposure, it also opens up a large pool of buyers who use real estate agents and generally avoid or do not know about your FSBO listing(s). Regardless of the position you are looking to take when selling your home, an Exsell Expert can assist you in your home sale.