Flat fee listing questions and/or recommendations

[Eric F.]

Hi everyone,

I am about to purchase a property in SE Raleigh. I intend to rehab it and hold it as a rental but I am also considering selling it. I have never done a flat fee listing before but I was thinking about paying for a flat fee listing for 15 days or so, seeing what kind of offers I receive, and if I get one I was happy with selling it, otherwise pulling the listing and starting to rehab it.

My questions:

If I do this I understand I still pay a buyer's agent 3%. Do I have to make it clear in the listing I intend to pay this?

The listing agent does not do anything beyond putting the property on the MLS, correct? I would handle all inquiries, contracts, etc.

This property is not that bad, but it needs cosmetic work at the minimum (10k total rehab costs with 15% overrun built in). Can I stipulate cash buyers only? I feel like financing might be tough due to the condition.

Has anyone done this before? How was your experience? If I was 100% intent on selling it or if it was move in ready I would probably go with a broker, but since I am neutral on selling it or keeping it I don't want to waste anyone's time.

When I list it, I can make it clear if I do not get interest quickly I can cancel and pull the listing, right? Obviously I still pay the broker their listing fee.