Flat Fee MLS
There is an increasing desire among a cross section of people to sell their property on their own and avoid paying commission to the real estate agents. Usually they had to depend on various packages offered by the agents or discount brokers. But real estate industry also has a solution for such people.
Flat fee MLS is the service that enables the sellers to sell their property with ease and even save commission. By the paying a flat fee the seller gets rid of the commission paid to the listing broker. It comes under FSBO (for sale by owner) category of service. Through Flat Fee MLS (or fixed fee MLS) the information of the property to be sold is put in the local M L S listings. The seller is charged a fixed fee not the commission that is generally based on property’s selling price.
Let us take the case of Mr. Jacob William, who lives in Triangle area. He wanted to sell his house but didn’t want to pay the heavy commission that is charged by the brokers. So he just went to internet and found about the Flat Fee MLS service. He contacted the local MLS broker and had an agreement. The agent put the information regarding the sale of the property and Mr. Jacob just had to pay a flat fee. Guess what he saved? Well! $15000 on the sale of his house!
Not only in Triangle, Chapel-Hill but Flat Fee MLS service is available in many parts of North Carolina like Raleigh, Durham, Apex and Cary. By providing such MLS service, the real estate industry has given the seller an opportunity to save more. It enables marketing through internet and there is no need for the seller to buy other service package from the agents.
The service is termed as FSBO as seller shares the responsibilities relating to attorney at the closing. The services are chosen and limited to some extent. The Flat Fee MLS services let the seller to have an advertisement as ‘For Sale by Owner’. Even the seller may take in the option that would enable to withdraw the listing anytime with no particular time limit. There are many real estate service providers in the North Carolina region who are considering offering flat fee MLS services.
You also get clarity about the services offered to you, by a written disclosure, so that you do not get into any trouble because of not knowing something. With Flat Fee MLS service you get a good deal with a fixed fee that you have to pay and get rid of the high rate of commission of the brokers. The flat fee service may not provide you with the value added service provided by real estate agents, it definitely does include basic modalities to successfully complete your transaction. The cons of the flat fee service often are minuscule when compared to huge saving you ultimately make. Though the level of fee depends on the area, it is always cheaper way to sell your property and save your money. |