Flat Fee MLS listings save by-owner sellers on real estate commissions

Flat Fee MLS listings save by owners at least 3% in real estate commissions. In contrast, paying 6% commission is an oxymoron because sellers may not receive “obedience” from their listing agent as most listing agents today are “transaction brokers” which means they do not exclusively represent the seller. 6% is old school and no longer means the same thing as it once did.

By nature, a 6% listing commission is wrong right from the start. The listing agents' dream is to have both sides of a transaction, the buyer and seller. The correct way for a full-service agent to do business would be for the listing agent to exclusively represent the seller and never the buyer. This would mean they could only receive 3% of the 6%.

Flat fee MLS keeps the same honest principle in play by paying just the buyer's agent a commission and allow the seller to determine if representation by an agent or lawyer is important to them. Flat fee MLS sellers often close their transactions at a title company or by a real estate attorney. This is the reason why flat fee MLS listings are so popular with by owners. With flat rate MLS listings, only one agent is ever compensated, the selling agent or also called the buyer's agent. Flat fee MLS is like musical chairs for agents. The first one that gets the chair wins the commission. There are no second place prizes.

With the advent of the Internet, print advertising is no longer the predominant advertising medium. It is not “green” and buyers use the Internet 87% of the time to find a home. They use Realtor.com, Homes.com, Bargain Network, Zillow, and thousands of other real estate sites such as ColdwellBanker.com, GetMoreOffers.com, Remax.com, and so forth.

Companies like the ADDvantage® Real Estate Network save by owner MLS sellers from paying the high cost of a full-service 6% commission by allowing sellers a choice.

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