Flat Fee MLS Listings - Is This The Future Of Real Estate

Realtors are all a buzz about this new form ofcommission to the agent, the buyer could cut the
listing houses on the MLS (multiple listing service).agent right out of the deal and negotiate directly
Some feel it creates more work for the buyerswith the seller. It happens....With flat fee MLS
agent, while others see this as a way to tap intoservice, the seller has agreed in writing to pay a
the For Sale By Owner market.It use to be whencommission, usually 3%, to the buyers agent. This
you made the decision to sell your home, youmotivates Realtors to bring the seller a buyer.How
essentially had two methods available to you. Youit works:Real estate commissions by law are
could list your home with a traditional real estatenegotiable. In a flat fee listing, the listing agent
company and pay 6-7% commission or you couldagrees to a flat fee instead of a percentage of
try selling on your own "for sale buythe sale price. This can be anywhere from
owner".Research shows that nearly 50% of all$300-$600 for the service of adding your house
home sellers start out trying to sell their propertyto the MLS. Then you choose how much to pay
on their own. Although some home owners arethe buyers agent in commission for bringing you a
successful with FSBO, according to the Nationalbuyer (typically 3%). So in the sale of a $200,000
Association of Realtors (NAR) home seller survey,house you would pay $6,000 plus the flat listing
only sixteen percent of sellers actually sell theirfee, saving a close to $5,700 in commissions. The
home without exposure on the MLS. And manyplus side is in the listing agents contract, the right
of them end up giving away their commissionto continue advertising you house FSBO. So in the
savings to the buyer to close the deal.Realtorsevent you find a buyer without an agent you
tend avoid for sale by owner properties becausesave on all commissions and only pay the flat
they are working with buyers and have nolisting fee.What do you get with flat fee MLS
written agreement to be compensated. If thelisting:Advertise your home on Realtor.
seller has not agreed in writing to pay a