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Updated 7 months ago, 04/26/2024

User Stats

15
Posts
5
Votes
Earl W.
  • Davenport, IA
5
Votes |
15
Posts

Flat Fee MLS Companies. Are they all the same?

Earl W.
  • Davenport, IA
Posted

I have a few single family homes I'm planning to sell as they become vacant. These properties were rentals that have been fully renovated to meet/exceed the quality of the neighborhood. They are definitely nicer than 95% of the homes you see on the average MLS listing at these price points. I posted one of these properties on FB and Zillow welcoming Buyer's with agents. What I've found is that most Realtors don't like to work with FSBO sellers due to negative experiences dealing directly with sellers. I can understand how working with the public can at times be frustrating. Since I know most Realtors prefer MLS listings, I've considered adding my property to the MLS. I've done some research online and found that there are numerous Flat Fee listing companies that will list a FSBO MLS listing.

Few questions I have are.

1.) Are all Flat fee MLS listing companies created equal? I see that some allow just a flat fee between $99-$299 while others charge a flat fee plus a small % of the sales price. (Any company that charges anything other than a flat fee is automatically crossed off the list). I was looking at brokerdirectmls.com because they only charge $149 for 10 pictures plus the listing, then I noticed in the small print that they also charge a small % of commission on the sale. Then I found getonmlsnow.com that lists for $179 and it appears that they charge no other commission.

2.) I've considered throwing 2.5% commission on the buyer's side. I feel like 2.5% is fair but don't want to ruffle any feathers over a few hundred dollars. Is 2.5% fair on the MLS or would 2.75%-3% be more along market norms?

3.) Anything else I should know about flat fee listing services?


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