Choosing a flat fee MLS listing service

[Paul Smythe]

When choosing a flat fee MLS listing service, is that something where you find a local service, or are the best companies usually nationwide? What's the best way to determine a good listing service?

[Lindsay McLean]

My company, HomeLister, only serves a few states, so here is what I would look for for myself everywhere else:

1. In House Coverage -@Matthew B. is right about choosing a company that services the listings in house and doesn't farm it out.  For companies that farm it out to other brokers around the country, you are paying for an additional layer and you don't know who is going to be servicing your listing.

2. No limitation on Photos - A lot of companies limit the number of photos you can post.

3. No charges for changes -You want to check and see if they charge you every time you change a photo or a price.

4. Provides disclosures and documentation - the better companies include this in every listing rather than leaving you on your own to find it or sending you to a third party to buy it (that they get a referral fee for).

5. Online listing completion and management - you want to make sure that you can create the listing and make all the changes you need to make online - such as listing changes, open houses, etc. - some of the smaller companies still deal with physical paper and faxes and that adds days to the process.

6. Free cancellation - some companies charge for cancellation before a certain date.

7. Choose your own buyer's agent commission. Some MLSs have a minimum buyer's agent commission that they will let you offer. In some it is as low as .25% but in most it is 1%. 1% tends not to get buyer's agents coming by anyway (takes 2% to get them in most areas). I think it's important to be able to control what you want to offer beyond the MLS minimum.

8. No additional charges if your buyer has no agent - Some of the companies actually keep the buyer's agent fee even if your buyer doesn't have an agent - sneaky!

9. Bonus - In house transaction management - having the original agent who listed it perform the transaction management if you want them to is much more seamless.  Not a necessity, but a nice bonus.