Hi.. Folks.. Not sure if this is the right group, but I haven't found
one yet.. So no spam / flames please
I'm thinking about selling my house using a flat fee listing (like
flatfeelisting.com) and wanted to know if anybody else had used a
similar service, and what their experiences were. All I know by calling
their 800 #, is that they say that they will place your home on the
appropriate MLS system within 1 - 2 days, & the relevant state wide MLS,
as well as on realtor.com. I just wanted to know if somebody has done
this, and what their results were..
Also, I was told that I would get a packet in the mail, or a real estate
agent would contact me to sign a contract, but would that agent place a
sign on my property as well ? I wasn't clear about that, and the person
on the phone at flatfeelisting.com wasn't too clear about it either..
Thanks in advance for your help, and if anybody has a better newsgroup,
please recommend it..
I used a flat fee service and sold the house that way. The upside is/was
that I more or less cut the commission from 6% to 3%. You still need to
offer buyer's agents a commission, or you simply won't get any traffic
through the house. No traffic = no sale, unless the house is on a well
While the house was on the market (about 9 months for a high end home in a
medium/low end market), I placed follow-up calls to each agent who showed
the house. The consensus was that many agents prefer not to show flat fee
listings, because over the long term, this is cutting out the easy part of
their industry, which is listing homes for sale. A listing is more or less
a guaranteed 3% commission for not a whole lot of work, at least compared to
actually showing houses.
As far as promises made by the flat fee service, I thought they held up
their end of the bargain. Would I go with a flat fee service again? Dunno.
If I had an inexpensive house on a major traffic path, I might simply go
FSBO. The higher up the foodchain your home is, (and/or if your property is
off the beaten path), you need to go with options which increase visibility
and traffic throught the house.
I guess it can vary quite a bit. We had a house in the neighborhood
advertised as FSBO for about 4 or 5 months. Asking price was 150k at the
time and there was no action, no traffic. A real estate agent took the
listing and sold it for $163k in about 2 weeks. May have just been poor
advertising by the owner, poor sales ability, or whatever but in this case,
the pro earned his money.
Be sure to do a good market evaluation and price accordingly.
Others have made the point that, in addition to the flat fee for
listing, you will have to pay a full selling end commission if you
are to have any hope of showings by realtors. And even then,
they'll be less likely to show your property.
I buy and sell a fair number of properties, and my experience is that
realtors are negotiable (if, for example, you are selling and buying
-- they will discount their fees or if, like me, you buy and sell a
fair number of properties, they will flat rate your listings) and that
realtors are effective -- it is likely they will get you a better
price and terms.
In your situation (you do not appear particularly knowledgeable), I'd
focus on getting the extra cost from the sale ... and use a realtor to
The important thing is to price the property into the market --
usually done by "comparables" -- that is, comparing what similar homes
in similar neighbourhoods recently sold for. Pay very close
attention ... and be sure to at least drive by the comps to make sure
they are comparable. Remember, too, that most of the commentary is
BS -- extensively remodeled means a hasty paint job and a new kitchen
faucet, etc. etc.
Rookie realtors rely on the MLS computer to kick out a "comparative
market analysis" -- experienced realtors and sellers know that these
are seldom worth the powder it would take .......
Seek out a pro ... pay very close attention to the comparables (make
blood sure they are comparable) ... then press for the top end of the
Re-read your own post.
You are calling a company to list your home and they cant even tell
you if you get a sign or not?
You think a Real Estate Agent is going to come to your home when you
list your home with a listing service? What kind of shit is someone
Most Real Estate Agents wont even show a home unless they get their 3%
commission. Your Flatfeelisting service doesnt pay that. All they do
is list your property on the MLS and YOU do ALL the rest.
Just a quick hint here. Putting your property on the MLS alone does
NOT sell your property. That's why they have Real Estate Agents.
You get what you pay for.
It sound like you are working with some type of referral service. That may
not be your best choice.
The simple truth is that if you don't pay the selling office the going rate
in your area they just won't show your listing unless they have no choice.
That means 3% +- plus whatever the listing office charges.
At least that was my experience when I tried to operate a flat fee office in
The current type of flat fee seller charges you in exactly that manner. A
flat fee for listing and getting you on MLS plus the selling office
commission. Roughly that works out to about 4% on a 150K home.
The person who said that some of the "experienced agents" still don't show
your property was correct.They don't want to kill the golden goose. The
secret to making bucks as an agent is to list property. If you don't list
you don't last. You also don't make much when you cut it down to a half %.
If this company that calls on you is not a member of the local MLS and Board
of R's you may want to think about this before you list. You might be
better of shopping for a local broker who will discount the fees a bit.
My experience with a regular realtor was the PITS. The buyer they
turned up backed out after the realtor recommended home inspector blew
it noting things like bees and wasps observed in yard:( Geez it was
july and such creatures live outdoors, there were no nests at all. The
realtor, well I left one day yelling at him and nearly planted the sign
on their doorstep.
I finally sold the home to a friend of a friend and the 6% fee was
My experience mirrored the one of our family when I was a 12 years old.
Realtors tend to be lazy. I overheard the realtor talking down my home
at the openhouse he didnt know I was there..... they use openhouses to
collect clients and push them to the MOST expensive home they can
qualify for to maximize their comission:(
I WILL NEVER EVER USE A REALTOR AGAIN!
Incidently locally there is blue edge real estate. They list the home
on MLS. the owner advertises and shows the house. once you get a
perspective buyer you pass them on to blue edge who handles all the
paperwork, qualifying for loan etc.
perhaps theres something like that in your area?
the home i sold using a regular real estate, and a identical home
nearby sold by blue edge.
the blue edge home sold nearly 2 months faster withing a grand of my
price. tract homes within a few blocks of one another
its no wonder realtors dont want you at your open house, given their
trolling for customers for other more expensive houses....
I would love to see some tv investigative reports, list home with
realtor, hidden cameras for open house, then watch the home inspector
botch the job and put it all on 60 minutes....
the industry needs that
I got screwed like that some years ago. We already moved to new house and a
realtor came to show the old one. Neighbor heard the prospect say he'd like
to make an offer just a couple thousand below my asking price. Jerk realtor
told him I would not budge on the price, but he had another house to show
My realtor made a deal with another realtor to keep my house off the
market for two months while her son searched for financing. In the end, the
kid's credit was zero and he couldn't buy. And to top it off, my realtor was
the guy in charge of the ethics committee of county realtors. Between the
two of them they went against almost everything in the contract. My realtor
represented his friend, not me. The other realtor was a good looking woman
so I'm assuming my realtor was trying to get laid.
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