Flat Fee MLS Once you hear this term as a home owner
, what comes in your mind? Well, whenever you think to sell your home or an apartment this is where you would list your home that is popularly known as Flat Fee MLS. Multiple Listing Service which we also call MLS is an online database where owners list their home to sell or rent. The way MLS has gained popularity among home owners and real estate agents role of flat fee realtor has also been increasing. To list in flat fee MLS we get in contact with a flat fee realtor to list the property.
Selling a home without the listing in Flat Fee MLS can be a hectic with selling time can be much more than one would experience in MLS. Lets make a comparison of home owners who sold home with listing in flat fee MLS and one who sold it with no listing in MLS.
1. Home owner who opt to sell without help of flat fee realtor with no listing in flat fee MLS can take double the time as compare to home owner who list in MLS.
2. Home owner with no listing in MLS would sell their home with help of traditional real estate agent who would charge a sales commission which can be anything between 6-7%. On the other hand flat fee realtor would charge much less as commission with a small flat fee of few dollars to list in flat fee MLS.
3. Property not listed in MLS can take much more time to sell as compare to home listed in flat fee MLS. Once flat fee realtor list your home in MLS buyers agent will get in contact with you as most of the real estate agents these days search in MLS to look for properties on sale.
4. Homes listed in Flat Fee MLS get more exposure as compare to homes not listed. Owners who list their homes in MLS will start getting buying queries within days of listing. This is quite opposite with homes not listed in MLS. For the later ones advertisements and pamphlet distribution is the only option to get buyers for their home.
5. Most important factor is the cost which favors the home owners who list their home in MLS with the help of flat fee realtor. Flat fee realtor would charge few hundred dollars only to list their home in MLS. On the other hand home owners not listing their property in flat fee MLS have to spend lavishly on advertisements.