Fixed Fee MLS

Template:Linkless-date Fixed Fee Listing Services allow those selling their homes to list their property on the MLS, and thus make it accessible to to real estate agents and the buyers they represent. This service is typically much cheaper than using traditional brokers. The listing fee can range anywhere from $200-$500, depending on the area, while traditional bokers charge 4-6% of the selling price of the property.

In most cases when using a fixed fee service the seller will be offering a "Buyer's Agent Commission" Typically 2.5-3% of the selling price. However, the Listing Agent Commission is eliminated by the flat fee. The savings is substantial.

Many fixed fee services also offer contractual terms that permits the seller to advertise as a For Sale By Owner (FSBO) seller. Therefore, if the sellers finds their own buyer even the buyer's agent commission is eliminated.

Other advantages include the option to cancel the listing at anytime and take your listing elsewhere. Most flat fee companies will not lock you into the contract for a minimum amount of time.

The fixed fee concept was around for many years before the internet became popular. There are also fixed fee broker groups that cooperate with each other across the United States. Many FSBO websites will also locate local flat fee brokers for interested sellers. Those offerings normally include a FSBO webpage to assist in advertising the property.

The downside of using a flat fee listing service is that in most cases you will be representing yourself in the transaction, setting your own price and commission to the buyer's agent. Some services offer "limited representation" which includes basic information to help you with selling the property. Because of this flat fee listings may not be the best choice for the beginner.