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  How Flat Fee Works

Our Flat Rate program works because there are two real estate agents involved in the sale of almost every house: the listing agent who works with the seller and the buyer's agent who works with the buyer.

A seller typically pays 6% commission. A home is listed at $250,000 which is split evenly ($15,000), with the "listing agent" getting $7,500 and the "buyer agent" getting the remaining $7,500.

With our Flat Rate Program, instead of paying the "listing portion" of the commission (3% of the gross sales price of your home) you pay a flat fee at the time of listing and the "buyer agent" fee of 3% ONLY IF a buyer agent procures a buyer for your home. If you (the seller) find a buyer, you pay 0% commission. Flat Rate Brokers will act as your listing agent, but we will not collect a listing commission at closing.

Flat fee MLS listings, occurs when a real estate office signs a listing agreement solely for the purpose of putting, for a flat fee, what is essentially a FSBO into the local multiple listing services (MLS) database. Anti-trust rules have, for many years, precluded MLS from refusing valid listings from member brokers and from withholding membership from otherwise qualified (i.e. licensed and willing to pay MLS fees) agents
See new ruling http://www.usdoj.gov/atr/public/real_estate/

Many consumer are not sure what the Multiple Listing Service( also referred to as the MLS) is .
The Multiple Listing Service (MLS or "Multi List") is the most effective tool for home sellers. The MLS is a private local network of homes for sale that most Realtors use to find homes for their buyers. There is no need to pay 6-7% for a full service realtor to list your home on the MLS for you, you have access to the MLS through Flat Rate Brokers. For our low flat fee, you are able to have your home listed on the MLS where all Realtors who represent potential local and relocation buyers can view it.

Below you can read what people on the internet are saying about flat fee and flat rate services.

Flat fee MLS listings, occurs when a real estate office signs a listing agreement solely for the purpose of putting, for a flat fee, what is essentially a FSBO into the local multiple listing services (MLS) database. Anti-trust rules have, for many years, precluded MLS from refusing valid listings from member brokers and from withholding membership from otherwise qualified (i.e. licensed and willing to pay MLS fees) agents

Ok lets all calm or should I say "com" down?! Denial, some people think that certain things last forever.however those people eventually learn the plain and simple truth.many many years ago the dinosaurs romed the earth alongside real estate brokers and agents who held the "holy grail".."the mls book" but then came along came the world wide web.dinosaurs extinct and brokers and agents wondering when people would notice that they in fact did not hold the "mls" anymore.
Above Posted By: Craig Davidenko | Tue, 9 Oct 2007 08:36:41 EST

Flat Fee is here to stay - we offer full service, discount service and flat fee in the st louis area - we let the seller choose how they want to sell their house - and we give first rate service! Just because a company doesn't charge a fortune is no reason to down them - of course there is a new kid on the block offering free mls listings - they are not in missouri yet, but they will be.
Above Posted By: Laura | Thu, 23 Aug 2007 16:43:59 EST


Flat fee MLS listings work, plain and simple.
Above Posted By: MLS Listing FSBO | Mon, 2 Apr 2007 13:01:41 EST


We are one of the first Flat Fee MLS companies in the U.S. After hundreds of listings sold through this program, and a network of brokers nationwide who have gained respect through hard work and ethical dealings, the business model is proven. If you have a reputable broker (who are the only ones who stay in the business) this is the way to go. The majority of listings do sell, and sellers are our best advertisement. Proof? We were featured on NBC30. It works.
Above Posted By: Mary Ann | Fri, 9 Mar 2007 07:54:08 EST


Ten years from now most people selling their home in Texas will cut-out the listing agents 3% fee and use these flat fee listing services. If an agent can not sell a house, then they need to find another occupation anyway. This will weed out the "non-closers" and thats good for everyone in the business.
Above Posted By: Brent | Fri, 6 Oct 2006 07:09:45 EST


Flat fee listing is great for people who choose it. The realtors still have a chance for commission. A property owner must have a reason for FSBO - perhaps the "traditional" realtors have failed to bring them an acceptable offer? Realtors who insist on sticking with "tradition", who dislike competition so much, who can't keep up with changing times, better change to a profession where there is no competiotion.
Above Posted By: my2cents | Wed, 9 Aug 2006 06:50:48 EST


I'm a seasoned broker in the conservative Midwest. We're experiencing the limited service agency trend and I am all for it - but admit that I am seeing "anti-trust" activity everyday. I want consumers to know that they can be represented in a way that fits their needs. Today's buyers and sellers are educated and savvy. They deserve options - real estate is not a "one size fits all" approach that has been the standard in the past. If I tried to sell my home today guess what option I would choose?
Above Posted By: jennifer | Wed, 19 Jul 2006 20:53:32 EST


30 to 40 years ago 6% of a $70,000 home may have been reasonable compensation for a licensed "professional" (most are part time aren't they?), but 6% of $400-$500,000?? I think not. Unless they come out with a graduate degree requirement. And, as a challenge to ALL professional realtors, how many hours do you spend designing the right marketing campaign for each home? Oh, another agent found it in MLS and sold it for you. Thanks.
Above Posted By: Mike | Thu, 27 Apr 2006 22:42:04 EST


Flat Fee MLS is what I recommend along with offering 2% to the selling office for those sellers who think they have the experience necessary to negotiate with an experienced realtor representing the buyer. Why shouldn't that option be available to someone who believes that is all the service they need for the transaction? The internet is creating changes in the real estate industry. Those that resist the change will end up like the old horse and carriage workers, bitter and unemployed.
Above Posted By: Todd Kolber | Mon, 10 Apr 2006 00:22:40 EST


People are changing, today they prefer to shop, or shall I say gather information on the Web. They have a pretty good idea what they want before they leave their homes. Today, over 50% of the people preliminary shop for homes on line, and 30% get mortgage information online. Insurance companies are moving the middleman out "Progressive. Geico. etc." To survive you must find a blend with Electronic Commerce, and Professional interaction.
Above Posted By: James Gilmet | Mon, 13 Mar 2006 01:50:21 EST


Seller using FSBO or Flat fee will be a necessity in the future. Realtors need to adjust and adapt to changing times. The information highway is educating the consumer. You must further understand with interest only loans, and the new 40 year loans at 100% LTV equity positions will change substancially in the next 5 years. People will not be able to afford professional realtors if they wanted too. I am a Full service broker, flat fee, and offer FSBO assistance. The bus is comming through.
Above Posted By: Jim | Sat, 11 Mar 2006 23:22:06 EST


I think the commission should go to the person who did the work. If the homeowner does the work, then he should keep the commission. Realtors just list the home on MLS, and then wait for someone else to sell it. That is wrong. Why should homeowners pay for a service they actually dont receive?
Above Posted By: Frank | Sun, 10 Jul 2005 02:13:59 EST


The flat-fee revolution is only just beginning! The reason why NAR is spending millions to scare the American public to sell with a realtor is so obviously self-serving it's funny! Most consumers see this for what it is- and their advertising will only increase a discussion on this topic. Agents- Compete, Adapt, Serve, or Move-On!
Above Posted By: CaptainFSBO.com | Tue, 11 Apr 2006 15:07:38 EST

 

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