Pay *$199 - $499 for a flat fee mls listing
and save $6,000
on the typical commission on a $200,000 house |
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| *Prices are set by local Realtors who provide the service through Audrie.com |
| How does it work? |
| Flat fee mls 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. |
| Listing Agent |
Typical
Listing agent tasks |
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Buyer's agent |
Typical
Buyer Agent tasks |
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1. Put home in local MLS
2. Assist in setting price
3. Provide "For Sale" sign and newspaper ads.
4. Host an open house |
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1. Search MLS for homes that match Buyer's wishes.
2. Take Buyers to see homes.
3. Prepare offer and assist with negotiations |
| $6,000 (3%) |
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$6,000 (3%) |
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On a $200,000 house, the Seller typically pays 6% commission ($12,000) which is split evenly, with the "listing agent" getting 3% or $6,000 and the "buyer's agent" getting the remaining $6,000 (yes, the Seller pays the "buyer's agent"). |
A flat fee listing eliminates the $6,000
that goes to the "Listing Agent"
and replaces it with a "flat" fee of $199 - $499
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| The Seller is still obligated to pay the Buyer's agent
but in most areas the Buyer's agent will accept 2.5% or $5,000 in our example of a $200,000 house.
Instead of $12,000, the Seller pays $5,000 plus the listing fee for a savings of over $6,000 |
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| No Free Lunch! |
For his relatively small Flat Fee, the "listing agent" is obligated to perform only one task: he puts the home in the local MLS. He or she is *not required to:
- Assist the Seller in setting a selling price.
- Provide a "for sale" sign for the front yard.
- Provide a "lockbox" so agents can show the house when Seller is not at home.
- Place ads in local newspapers or
- Host an "open house" for local realtors and prospective buyers.
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But that's okay! Because:
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| *Much of the difference between our $199 and $499 flat fee listings lay in services provided by the local realtor. |
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A MLS listing looks like an Internet ad, but is fundamentally different. The Seller must sign a "Listing Agreement" that specifies both the "flat fee" and the 2.5 - 3% to be paid to a "buyer's agent." The Listing Agreement makes the "listing agent" responsible for:
- The accuracy of a detailed description of the seller's dwelling.
- Making sure the seller pays the agent who brings a buyer that purchase his home.
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| Search
for home selling advice |
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| FOR SALE BY OWNER (fsbo) BOOK: FREE |
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Contract Package $14.20
Includes real estate forms and contracts to sell or buy a home in your state. All forms are available in Microsoft Word format for Windows. Most state forms are also available for the Apple Mac, and in PDF format for the free Acrobat Reader. Order now.
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Photo Tour Package $26.95
Internet web page ad with up to ten pictures of home plus property description and choice of 28 eye-catching headlines to sell your house. Also includes choice of two advertising flyers for local distribution. Internet listing remains active for 6 months with unlimited, free 90 day extensions...
Order now.
Learn more... |
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