Flat Fee MLS listing advice

[Glenn R.]

I am trying to sell waterfront building lots which are rather high-end because they close to a big city.  I was hoping to sell them by simply posting a sign on the lots with an info-box containing a survey & prices.  I have received a lot of interest, but no offers yet.  I really don't think a listing agent deserves 3% for listing a vacant lot, but I'd be happy to give that to an agent who delivers a buyer.

Can you folks give advice about which flat fee services are good & what to be aware of?  I see services from $79 and up.  

[Glenn R.]

Originally posted by @Jonathan Minerick:

There are a ton of flat fee MLS services out there. The best advice is Googling "Flat Fee MLS + your city" and then checking their reviews (yelp, etc). Not that not all flat fee listings are the same. In general, here's the big things you want to look for in a flat fee listing:

1. The listing MUST be on the local MLS.

There are hundreds of MLSs in the United States. Sellers want to be on the MLS that covers the area where their home is located, so they can offer a commission to LOCAL buyer agents.

2. Cost to list + changes to listing.

Can range from $100-$400 for the exact same listing on the MLS. Watch out for fine print that requires an additional fee at closing. Make sure you are able to make changes to the listing after it has been posted for a nominal fee.

3. Photos on MLS.

Make sure you can upload at least a dozen photos. Some services offer a great price, but it's only for 1 photo - which is not useful for most properties.

4. Length of Listing.

Get at least a six month listing and be sure that there is no charge for cancellation.

5. Fine print.

You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.

We've found that a home selling boils down to getting just three things right 1) get pro photos, 2) offering a fair buyer agent commission on the MLS(typically 2.5%), and 3) price it right, which you'll know once you list (lots of offers = too low, no offers = too high. Either way you can adjust accordingly).

Jon,

Thanks for all the tips.  I found one that seems to click all the boxes you mentioned.

I'm just selling building lots, so it seems like this should be all I need.