As a flat fee home sale Broker, we focus on communicating what is included in our service. The other day someone asked the opposite question—what is not included in a flat fee listing? That is a really good question, so let's have at it:
First, let's eliminate some misconceptions about what is included in traditional Realtor service with the huge commission.
What is not included with traditional agent listings or flat fee MLS listings:
- Listing agent attending showings with the buyer and their agent.
- Providing legal representation or tax advice (the law requires these can only be provided by an attorney or accountant).
- Property management, supervision, maintenance, or cleaning during the listing.
- Insurance or legal assistance in the unlikely event a buyer sues a seller.
- Seller closing costs (these are no different whether a seller sells with a traditional agent, with no assistance, or by flat fee MLS).
Every so often we talk with a misinformed seller who thinks one of more of those items is included in a traditional agent listing agreement.
What is not included with base flat fee MLS service but typically available as an option:
- Yard sign installation (most signs are shipped for seller 90 second no tool required installation).
- Taking property photos and/or virtual tour of property.
What is not included with a Flat Fee MLS Listing?
- Agent hosted open houses (you are free to host your own open houses).
- In person meetings with listing agent (phone & email support is included).
- The huge traditional commission to be paid at closing.
- Answering questions about the property to others on your behalf (these are directed to the seller).
Some people expect the list to be longer than this, and some mistakenly think that Flat Fee Home Sales can't be used in the following seller situations:
Seller situations where Flat Fee MLS works well:
- Out of state owners.
- Estate/trust/probate sellers.
- Owners selling a property for the first time (we are first time seller specialists).
- Builders/Financial Institutions/Corporations/Partnerships/Limited Liability Companies.
- Short sale/In foreclosure/Behind on mortgage payment sellers-note we do not specialize or have expertise in short sales or foreclosures, but many of our sellers have successfully completed these sales.
- Landlords selling tenant occupied rental properties—optional Agent Scheduling Service takes that hassle out of arranging showing appointments with tenants.
As always, contact us with any questions.