Selling your home with the help of a real estate agent can be a costly affair. Also, you do not know whether the services you are paying for are worth it. What if you can directly access the same repository your realtor uses to promote your home? All real estate agents have a common platform that they use to share information about new properties in the market for quicker response and sales. If you have your house listed on that database, half your job is done! It is known as the MLS or Multiple Listing Services. You may register as an FSBO (For Sale By Owner) for a small charge through various MLS companies. Thus, you can save on the hefty commission real estate agencies charge, which is usually around 3% to 6% of the sale price in Michigan. However, we suggest you check out the Flat fee MLS listing companies in Michigan before you plan your way.
Introducing MLS
Multiple Listing Services (MLS) is a database that provides all information regarding the property intended for sale. It can be accessed by multiple real estate agents simultaneously. This system enables sellers to easily connect with the buyer community and ensures quicker response, leading to a quicker turnaround on deals. Only registered real estate agents can access MLS, so your property can be listed only via a registered realtor.
Introducing flat fee MLS
You may register as FSBO, but you may lose out on expert advice and many benefits that realtors can offer, including better pricing. As an FSBO, you would deal with all the nuances yourself – right from deciding the price, to writing the description, getting the home clicked, responding to inquiries, negotiating, closing the deal, and also handling the paperwork. This DIY approach may help you save a lot, but eventually, lose out on better potential deals. Hence, the best way to go is a flat fee MLS service which offers the best of both worlds.
Many MLS companies or professionals offer flat fee MLS Michigan listing, also known as entry-only listing services, against a nominal fee. It provides your home with much better visibility and helps you reach out to a wider population of prospective buyers. In this kind of listing, the onus of handling the queries and driving the negotiations lies with you. The responsibility of registering your home in the online database and promoting it with high visibility among prospective buyers lies with the MLS agent.
One of the major benefits of registering your home in the local MLS is that the listings are often reflected on popular realty websites as well. Since most people prefer to check their options online before actually visiting the site, it makes great sense to be featured where more eyeball hits can be garnered.
Finding the Best Flat Fee MLS in Michigan
Michigan boasts of several real estate agencies, but not all agents or brokers can get your home listed on the local MLS. Before employing an agent, ensure that your property gets registered on the local MLS. Also, get clarity on the term for which it would be listed, and whether more payment would be required post the lapse of the said period. It is always better to compare a few agencies – their services, charges, and success rates before committing to an agent or broker. You may also check the reviews of an agency to check previous clients’ experience of working with them.
Typically, it would cost you approximately $250 to $1000 for a flat fee listing in Michigan. You can engage in additional services for an extra amount of money. But, beware of hidden charges that some MLS service providers come up with, like closing fees or admin fees, which are disclosed only when the deal is about to close. Do check on those before choosing your agent.
Some popular choices for flat fee MLS services in Michigan include Houzeo, The Flat Fee Pros, Kermath Realty, Modern Way Realty, Flat Fee Realty, and FSBO.com. While Houzeo, The Flat Fee Pros, Modern Way Realty, and Flat Fee Realty offer unlimited listing updates, others do not provide this crucial service or charge additional fees for the same. Also, while Houzeo, Modern Way Realty, and Flat Fee Realty provide downloadable forms, the others offer this service for an extra charge.
The reviews reveal that while The Flat Fee Pros provides thoughtful advice for inexperienced sellers, Kermath Realty is best for experienced sellers who are looking for a simple MLS listing service. But Houzeo stands out with its range of a-la-carte services, which gives you the power to custom-design the services according to your needs. It even enables you to complete all seller paperwork on their app! As their client testimonials point out, they have a very responsive customer care, ensure fast listing, high visibility, easy paperwork, have user-friendly technology, and best of all – no hidden costs!
Benefits of Flat Fee Listing
There are multiple advantages of a flat fee listing. Here’s a look at a few of them…
- Economical: A flat fee service is much more affordable as compared to a broker offering a full range of services.
- Wider Reach: Your property’s visibility increases enormously by entering a flat fee MLS service. This in turn increases the response, offers, and chances of cracking a quicker and better deal.
- More Control: In this type of service, you get to decide the rates, and are in control of how you wish to project your house – which photographs to put and how to best describe your house. Also, you are in a better position during the negotiations, since you would be the one driving them.
- Seller’s convenience: You can show your house to the buyers of your choice at your convenience.
- Expertise: You get the expertise of an agent with the freedom of handling inquiries and negotiations. You get the best of both options – FSBO and full-service realtor. Add-on services like marketing consultation and photography services enable you to opt for a more professional approach whenever you wish.
- Easy and Quick: MLS listing service providers, like Houzeo, offer the convenience of listing from the comfort of your home. So, selling your home becomes that easy and quick!
