There are many options available to those looking to sell their property in today’s market. The competition tribunal has directed boards to add more flexibility in their offerings to the real estate market. Consequently, there are more ways to list homes other than the traditional methods that already exist in the marketplace. One of these options is a flat fee MLS listing which allows a seller to list their home on the MLS or realtor.ca for a fixed price. We will try to explain what the flat fee option is all about as well as the challenges that it presents to those trying to sell their home for the best price.
What Is A Flat Fee MLS Listing
When a flat fee MLS listing service is used, the seller will pay a fixed fee to a brokerage that normally operates their business around this type of listing. They are usually not a traditional brokerage with which the general public is familiar. They will normally not offer any services or help other than listing your property on the MLS for the purpose of it being seen on realtor.ca. This type of listing is also known as a Mere posting. The flat fee fixed price is normally paid by the seller before the commencement of the listing as well as any a la carte extras that may be added.
What Is The Difference Between A Flat Fee MLS Listing And A Full-Service Listing
These listings will be very similar in appearance. There will be buyers who may be more skeptical of a flat fee MLS listing or mere posting because they know that it was the seller who provided the information or created the listing whereas a professional realtor knows the importance of detailed accuracy when preparing a listing for the market. Professional realtors working for reputable brokerages follow procedures in preparing the listing that is meant to protect all parties to the transaction. Also, buyers may not have faith in the flat fee sellers’ ability to effectively price their home compared to a professional realtor because of the lack of experience or knowledge which may result in them going in with a much lower offer or avoiding the listing altogether. The biggest difference between a flat fee listing compared to a full-service listing is the amount of commission being offered to cooperating broker. A lot of flat fee listings offer a nominal amount of $1 with the idea that buyer agents will need to negotiate with the seller for their commission. This is what usually causes a flat fee listing or mere posting to fail because their listings will often be ignored by agents or put at the bottom of the pile. A lot of these flat fee brokerages out there mislead their clients when they tell them that their listing will be treated equally with other MLS listings when the reality is that they will not be treated equally at all which is easy to understand.
Will Flat Fee MLS Listings Or Mere Postings Be Exposed To All Active Buyers In The Local Market
No, you’re listing will not necessarily be seen by all active buyers in your market. These brokerages advertise that you will be seen on Realtor.ca. Not all active buyers use realtor.ca when searching for a home. A lot of active buyers are set up on an automatic email notification system by their agent to get listings the instant they are listed on the market. Many of these flat fee brokerages may belong to a board from a different area which means their listings may not necessarily be distributed to the local board where their listings are located.
Evusto Compared To A Flat Fee MLS Listing Or Mere Posting
There is no question that using Evusto is a much better option than using a flat fee MLS listing or mere posting. Using a flat fee service may also cost more money when you look at the true big picture. If a flat fee service is not cooperating with other brokerages at the industry average, then one would expect fewer potential buyers to show interest which in turn can lead to fewer offers which may result in a lower selling price. For example, Evusto uses an approach to bring more buyers to a listing while also providing the seller with a lower commission. Talk to us to learn more about how the flat fee option can actually cost you more money, then you can make decisions on which option works best for you.
