| Realtors are all a buzz about this new form of | | | | commission 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 buyers | | | | with the seller. It happens....With flat fee MLS |
| agent, while others see this as a way to tap into | | | | service, the seller has agreed in writing to pay a |
| the For Sale By Owner market.It use to be when | | | | commission, usually 3%, to the buyers agent. This |
| you made the decision to sell your home, you | | | | motivates Realtors to bring the seller a buyer.How |
| essentially had two methods available to you. You | | | | it works:Real estate commissions by law are |
| could list your home with a traditional real estate | | | | negotiable. In a flat fee listing, the listing agent |
| company and pay 6-7% commission or you could | | | | agrees to a flat fee instead of a percentage of |
| try selling on your own "for sale buy | | | | the 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 property | | | | to the MLS. Then you choose how much to pay |
| on their own. Although some home owners are | | | | the buyers agent in commission for bringing you a |
| successful with FSBO, according to the National | | | | buyer (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 their | | | | fee, saving a close to $5,700 in commissions. The |
| home without exposure on the MLS. And many | | | | plus side is in the listing agents contract, the right |
| of them end up giving away their commission | | | | to continue advertising you house FSBO. So in the |
| savings to the buyer to close the deal.Realtors | | | | event you find a buyer without an agent you |
| tend avoid for sale by owner properties because | | | | save on all commissions and only pay the flat |
| they are working with buyers and have no | | | | listing fee.What do you get with flat fee MLS |
| written agreement to be compensated. If the | | | | listing:Advertise your home on Realtor. |
| seller has not agreed in writing to pay a | | | | |