Buying or selling a home in today's world is a difficult task. A few years ago when the market was great you could stick a "for sale" sign in your yard and have it sold in a few hours. Not anymore...
Nowadays, if you would like to sell your house, you must be listed in your local Multiple Listing Service. Approximately 90% of all homes sold in the country are listed in MLS. This enables your house to be seen by the most people in search of a home which includes other real estate professionals and their customers.
As a seller you have a couple of choices to get their house listed in MLS...
One option is to use a realtor. Yet, in doing so its possible you have to pay around 6% of the sale price in real estate fees. Based on your sale price this may be tens of thousands of dollars.
One more choice, that is becoming more and more popular, is to use a flat fee real estate agency.
Should you select a flat fee real estate program, you have to pay a one-time flat fee to have your house listed in MLS. Most flat fee real estate services charge anywhere from $299 to $799. That is a significant cost savings over the 6% you would be paying to a realtor. Always remember however, using a flat fee real estate program, although you may get extras like a "for sale" sign, lock box, and in some cases listing brochures, you will NOT have anyone doing open houses or any other kind of marketing for you. In essence you become a FSBO or "for sale by owner".
The advantage of using a flat fee real estate service is that you can save yourself between 3% to 6% in real estate fees. You still need to pay any realtor that brings you a buyer (the buyer's agent) her portion, often 3%, however , if you get a buyer on your own you won't need to pay any fee whatsoever.
Think about that... if you are using a flat fee real estate provider and sell your house for $250,000 you save between $7,500 to $15,000 in real estate fees. This is a serious saving by anyone's standards.
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