We’re in the process of selling our home (a sweet little antique cape in coastal Maine), Our agreement with our realtor is about to expire and we’re going to try selling the home on our own for a bit since that would allow us to lower the price.
We’d like to keep it on the MLS though as so many people surf the MLS from their computer to find homes they’d like to see.
I’ve seen online that there are sites that will allow you to list your house on the MLS service for a flat fee so you don’t have to use a realtor to get it in the listing service which will save you at least 3% commission.
Anyone have any experience with these services???
Thanks
G.
The one service I found said they’d also list on Realtor.com
Our house is unique and while I understand what you’re saying about double the work for double the pay – I don’t understand why – we’d hire the title company/or attorney they’d take care of the details, we’d show the house – what the heck else does a realtor do? Mine never do all that much as far as I can see. This is the 4th house we’ve had on the market and maybe I get bad realtors, but they don’t seem to do all that much – I even end up showing the house half the time.
It just doesn’t seem doable to sell yourself without the exposure the MLS gets you.
What could be hidden with a flat rate service like that that says they don’t take a commission?
It would be helpful to have examples of tricks someone might play…cause I just don’t know enough about these services to trust them….anyone can have a website right!
Ed, would we have to sign on for an additional 2 months – or is that the tricky wording that can sometimes be used?
There was a lawsuit by property owners to be allowed to "list" their houses on MLS without an agent. They sued under the "anti-trust" laws. The realty agents had to make some concessions, but they mostly got to keep their hold on the MLS.
So you have to hire one of the flat-fee brokers to get on MLS. It can work but you have to ask your agent to send you copies of your listing every 30 days.So you can review the wording and compare it to the other houses for sale in realtor.com And have him send you an updated list of houses for sale nearby (even tho you can drive around yourself) so you stay informed. Then get ready for your house to get shown. Usually you have to negotiate the offers yourself.
The main flat-rate "trick" was to offer you their service for $500. After 2 months with no offers, they ask you to switch to a full-commission listing with them. The only reason you hired them was to get the low fee. You would have hired someone else if you were going to pay much more. So you feel tricked.