Reaching buyers who use real estate agents

Some examples:

In Arizona	In Florida
Gold Rush Realty offers a flat fee  of $497	Target MLS offers a flat fee of $499
Select your State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming to see if a discount MLS listing is available

Why the Multiple Listing Service ?

• Maintained by real estate associations in all fifty states, the Multiple Listing Service (MLS) is still the largest list of homes for sale.
  The Multiple Listing is effective because most Buyers use real estate agents,  and...
  Most real estate agents use the Multiple Listing to find properties for their buyers.
• A "listing" in the MLS is the main service for which real estate brokers and agents charge their normal fee of 6% - 7% of the purchase price.

In a normal or "Full Service" listing:

• The Seller signs a Listing Agreement with a real estate agent to sell his or her house for a fee of 6% of the purchase price.
  This "listing" agent does the following:
• Places the home in the local Multiple Listing Service
• Provides a "for sale" sign and flyers
• Advertises the home in local newspapers
• Negotiates with the buyer's agent
• Half of the commission (3% of the purchase price) goes to the agent who brings the eventual Buyer.  In rare cases the listing agent might also be the agent who finds a Buyer.

Flat-Fee MLS - How it Works: ..the "Listing" agent ...and the "Buyer's" agent

• The Seller still signs a Listing Agreement with a real estate broker or agent.  But instead of 6% of the purchase price, the Seller agrees to pay a flat fee of $399 to $699 to the "listing" agent and 2.5 - 3% of the purchase price to the "buyer's" agent who brings the eventual Buyer.
• Places the home in the local Multiple Listing Service
• Buyer's agents eagerly accept 2.5 - 3% if the house meets their buyer's needs.  Their choice is to close a deal and get paid or potentially loose their buyer to another agent with another house.

The flat fee of $399 to $699 plus 2.5 - 3% to the Buyer's agent is usually less than half the standard real estate fee of  6% - 7% of the sales price.

An MLS "listing" automatically puts your home in the highest volume real estate sites on the Internet (Realtor.com, Homes.com, etc). If you get a buyer from one of these Internet sites, your total real estate fee is simply the $399 - $699 listing fee (because there is no "Buyer's" agent).

A MLS listing looks like an Internet ad, but is fundamentally different. The Seller must sign a "Listing Agreement" that specifies both the "flat fee" and the 2.5 - 3% to be paid to a "buyer's agent." The Listing Agreement makes the "listing agent" responsible for:

• The accuracy of a detailed description of the seller's dwelling.
• Making sure the seller pays the agent who brings a buyer that purchase his home.

Given that a real estate agent earns $6,000 on the sale of a typical house, most are not eager to take on the above responsibilities for  a flat fee of $399 to $699.

Pro Multiple Listing	Against
Real estate agents will see your listing and bring pre-qualified buyers. Probably the fastest way to sell a home, and at half the cost of a "full service" listing.. The detailed MLS data allows agents to bring buyers who want what your house has to offer... An MLS listing automatically puts your home in the highest volume Internet sites such as Realtor.com and Homes.com.	A $400 - $700 fee, plus 2% - 3% of your selling price to the agent who brings you a buyer.   An Internet ad properly promoted on high volume sites might get the same results for under $100.   The MLS requires a detailed (almost room by room) description of your property, plus info on  property taxes and homeowner association fees.

A MLS listing looks like an Internet ad, but is fundamentally different. The Seller must sign a "Listing Agreement" that specifies both the "flat fee" and the 2.5 - 3% to be paid to a "buyer's agent." The Listing Agreement makes the "listing agent" responsible for:

• The accuracy of a detailed description of the seller's dwelling.
• Making sure the seller pays the agent who brings a buyer that purchase his home.

Given that a real estate agent earns $6,000 on the sale of a typical house, most are not eager to take on the above responsibilities for  a flat fee of $399 to $699.