What You Need to Know About Flat Fee Listing

Not many people know about Flat Fee Listing and its benefits especially when you are looking to save money in selling your property. In the past, the only known way to sell your property fast is by hiring a real estate broker. This is a good idea except that you will be paying 6% for their commission. But what if you change your mind and cancel your listing early? You will still need to pay the commission since it’s stated in the contract that you signed. It’s unfair but this is the reality and most people are not aware until their broker reminds them of the contract. Unfortunately, not many people read the entire contract before signing, so what else can you do?What makes Flat Fee Listing better than hiring a real estate broker? Traditionally, when you pay a real estate agent 6%, once your property gets sold he gets to keep the 3% of the commission while the other 3% is paid to the buyer’s broker. If the buyer does not have a broker then the agent you contacted gets to keep the 6%! If you still can’t see the big picture let’s say that the home selling price of your property is $250,000, so your broker’s commission is around $15,000. What if you found out that the only job your agent did to help you sell your home was to have your property listed in a real estate website and put up a sign in your yard? Sounds ridiculously unfair right?Flat Fee listing helps you avoid paying 6% broker commission because in reality the most important task in order to sell your home faster is to have the property listed in a database called MLS or Multiple Listing Service. The information found on this database is shared by all realtors so whenever there is a buyer looking for a property to purchase, they use this database to find out which property is best for the buyer.There are several websites online that will help you get your home listed in the MLS. However, it is important that your property is listed to the correct database even just locally since there are multiple real estate databases across the country this way your property can be easily seen by realtors who have potential buyers and sell your property faster. You only spend around $200 to $400 for Flat Fee Listing so just imagine how much money you can save from simply having your property listed and selling your home by owner.

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