| With a flat fee MLS listing your house will be added to the current list of homes in the MLS. This sounds good up front, but when you look a bit closer you can see the flaw. Your home will be competing with all the other home in the MLS.
The average home in the MLS will be listed at 6% and a few maybe listed a bit higher may at 7%. that mean the the buying agant will get 3% most of the time but can get 3.5% if the house was listed a 7%. Also some of the listing will state that the listing has a selling bonus of $2000 to the selling agent ( the Highest I have seen is $5000). Thebonus can also be offer as a higher commision split 4% to the selling agent instead of the normal 3%. It is only human nature to want to be the one that get that bonus or the 4% commision or the $2000 bonus. These extra incentives are priovided by the Selling Agent Commision. You will not see them if you are paying a flat fee only.
Your home will not be at the top of the showing list and the agent will not be pushing your home. Your agent will not see your agent after you sign the listing agreement since for a flat fee he will not promise you any more then to put it on the MLS.
You stated that agents have seen your home but not shown your home to any buyers, that tells me that you home is not in the market range, if it was agents would bring buyers to see your home with hopes to collect the buyers commision you offered. Paying the Flat Fee will not change anything and the agents will not feel it is in the market and continue not showing the home.
You can negotitate with a agent to list the house for 6% and and then offer a bonus to the buyer's agent. Also see what 2-3 agents feel your home can sell for, hint don't mention a price up front, let them tell you and explain how they come up with those number.
If you have any other question feel free to e-mail me chuck@mr-pc.com  |