Flat Fee MLS Listing: 5 Things You NEED to Know

Flat Fee MLS - Things to Know

America’s Best Flat-Fee MLS Listing Services | Hidden Fees | Fast Listing & Changes | My Responsibilities | Buyer Agent Commission

Q1. What are America’s Best Flat Fee MLS Services?

After the U.S. Department of Justice essentially legalized Flat-Fee MLS in 2005, several companies have sprung up to help home sellers sell their homes themselves, and save thousands. The table below lists and compares America’s best Flat-Fee MLS services on what is most important to a home seller.

 Houzeo.comCongress RealtyFSBO.comFizber.comHomecoin
Price$329$399$399$395$95
Hidden FeesNoneNone⚠️$150⚠️$150⚠️$450-
$2,999
5-Star Reviews
100% Online
Mobile App
Offers Directly to You
Expedited Listing
Fast Changes

Q2. Is it Really Flat Fee?

Yes, it’s supposed to be. But you have to be cautious. Several companies will claim they are “Flat-Fee”, but will include a variable charge. Our team has spent hundreds of hours researching Flat-Fee MLS services, and here are some we’d like to highlight.

CompanyHidden or Additional FeeFee Description
ListWithFreedom.com0.1% CommissionListWithFreedom claims that the buyer’s agent pays for this fee from their commission. Sure, but the seller pays the buyer’s agent, so it’s really a hidden fee for the home seller.
Homecoin.com$450-$2,999Homecoin.com entices you with their $95 listing. But seller disclosures are typically mandatory, and Homecoin charges $450 to $2,999 for them. Additionally, a simple $50 yard sign is rented to you at twice the price. ShowingTime isn’t available, and lockboxes are 3 times as expensive.
FlatFeeMLSRealty.com$675The company charges the buyer’s agent $350 at closing that’s not advertised upfront. Additionally, there’s a $325 closing coordination fee if you don’t use their title company.

👋 Try Houzeo for Free – Houzeo discloses all costs upfront, so there are no surprises!

Q3. Is Flat Fee MLS the Fastest Way to Get Listed?

Yes. When compared to any other method, Flat-Fee MLS listings are typically the fastest way to get listed. They are also the fastest way to get changes done to your listing. The reason for this is that when you have an agent in between, you have to coordinate with that agent to get listed on the MLS. The agent has to create all the MLS documents and send them to you to fill and sign. Only when you revert back to them can they list you. This can typically take 3+ days.

With a Flat-Fee MLS listing, you do all that work right upfront. Sites like Houzeo.com will assign you the right paperwork based on your property type, location, and your local MLS instantly when you sign up. Complete that, and you are typically listed within a day.

🚀 Speed to Market Matters – Houzeo is 100% online. Listings are fast and changes are faster!

Q4. What are My Responsibilities with a Flat-Fee MLS Listing?

With a Flat-Fee MLS “entry-only” listing, you are essentially your own agent. You enjoy immense control of how you portray your house, how you deal with buyer’s agents, and which offers you accept. Great power comes with great responsibility, so all Flat-Fee MLS companies ask a few important things from the home seller.

No.ResponsibilityDescription
1.Provide Accurate InformationThe biggest misrepresentation we’ve seen is sellers exaggerating square footage. So now MLS’ typically take this information from the official tax records. But if you’re listing your property yourself, be sure to provide accurate information, including the property’s square footage.
2.Use Own PhotosDo not use photos taken by others, from a previous listing, or from your condo associations website. Make sure you own the copyright for the photos you upload. This means you’ve either taken the photos yourself, paid a professional to take them and own them now, or gotten permission from the original owner.
3.Ensure MLS Listing Status is Updated PromptlyIf you accept a contract, request your listing be marked as “Sale Pending” within 24 hours of you accepting the contract (or sooner). Same thing when you close or if the contract falls through. You’ll need to provide executed documents, and you should do this promptly. MLS fines can absolutely ruin your day.
4.Ensure “Active” Listings are Available for ShowingsIf a listing is “Active” on the MLS, it’s almost always required that it be available for showing. So make sure if you’re ready to go live on the MLS, you’re ready to show your property.

💸 Learn More: Houzeo technology helps reduce chances of MLS fines and penalties

Q5. Do I Need to Offer a 2.5% Buyer Agent Commission?

Technically, no. But I would. Almost 90% of homes in the U.S. sell with a buyer agent involved. To get top dollar for your property, you want to target these agents. So we suggest offering a competitive buyer agent commission. You’re saving the 2.5% commission on the listing agent side going the Flat-Fee MLS route anyway. Chances are, offering a competitive buyer agent commission will get you strong offers.

💡 Explore More: Check out America’s Best For Sale By Owner Websites

Q6. What are the Best Flat-Fee MLS Services Near Me?

We’ve compiled a list of the best Flat-Fee MLS services in each state. Click on your state to check them out!

RegionStates
NortheastConnecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont
MidwestIllinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin
SouthAlabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington, D.C., West Virginia
WestAlaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming

💡 Explore More: How to List on MLS For Sale By Owner (with video guide)


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Frequently Asked Questions

What are the Top Flat Fee MLS Listing Services in the US?

The best Flat Fee MLS companies in the United States not only unbundle their services and allow you to choose which services you want to spend on but also help you save 50% in commissions that you’d pay to traditional agents.

As listed above, the best Flat Fee MLS companies in the United States are:

  1. Houzeo
  2. Flat Fee Group
  3. Fizber
  4. Zillow
  5. FSBO

Do Flat Fee MLS Listings Work?

According to a study by NAR, in 2020 FSBOs accounted for 8% of home sales in 2020. The typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.

But that was only because 46% of the home sellers did not actively market their homes.

How Much Do Flat Fee MLS Listings Cost?

On average, a Flat Fee MLS listing service can cost you anywhere between $99 to $499, however, this does not include the costs of the add-on services like pricing assistance, real estate photographer, additional photos, extended listing period, etc.

Is Flat Fee MLS Legal?

Yes, Flat Fee MLS is a completely legal practice in the real estate industry and is backed by the Department of Justice and the Federal Trade Commission.

Do Buyer Agents Avoid Flat Fee Listings?

This is a common misconception that many home sellers have but it is not entirely true, a buyer agent will not avoid your listing just because it is a flat fee one. The buyer agent can avoid showing your home to their clients if you do not offer a compelling commission i.e. 2.5% to 3%.

Are Flat Fee Realtors Good?

Some home sellers are skeptical about flat-fee agents because they work for such a low price but a Flat Fee MLS listing service like Houzeo stands out with its excellent services, maximum savings, and praiseworthy customer support.

Can You Get on the MLS Without a Realtor?

No, only licensed agents have access to the MLS, and that’s why you cannot get on the MLS without a licensed realtor.

Will Agents Contact Me with a Flat Fee MLS Listing?

Yes. Your contact information will be included in the “Showing Instructions” section of your MLS listing. Buyer’s agents will contact you directly if they want to show your home. They may also want you to sign a commission agreement before showing your home to their buyer.

What is a Flat Fee MLS Listing Service?

A Flat Fee MLS listing service provides property listing services at a flat rate compared to the traditional way of selling houses via realtors. The Multiple Listing Service (MLS) is a local database that advertises properties for sale to licensed real estate agents. Flat Fee MLS companies help you list your home on MLS at a fixed charge instead of the typical 5%-6% commission percentage of sale price. This is how you save on commissions when you opt for a Flat Fee MLS realtor.

Flat Fee MLS For Sale By Owner How-to Listing & Marketing

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