How to Sell Your House With Flat Fee MLS Company in 2024?

From California to New York, Flat Fee MLS services have helped Americans save thousands in 2024. Flat Fee MLS services will list your house on the MLS for a fraction of what you’d pay a 6% Realtor.

There’s more good news. You save the 3% listing agent commission with a Flat Fee MLS listing in the U.S. You will also save on the 2.5% to 3% buyer agent commission with the NAR settlement. That’s a potential saving of $26,322 on an average $438,706 home sale!

What Is a Flat Fee MLS Listing Service?

A Flat Fee MLS listing service helps you list your home on the MLS at a flat rate. The Multiple Listing Service (MLS) is an online regional database of homes for sale. Once on the MLS, your listing gets syndicated to real estate websites like Zillow, Realtor.com, Redfin, and many more.

Only licensed real estate agents can access and list on the MLS. However, they charge a 3% listing agent fee. Flat Fee MLS companies help you save this 3% commission, keeping more equity in your pocket.

Advantages of a Flat Fee MLS Service

Here are several compelling benefits of opting for a flat fee service when selling your property:

1. Cost Savings: Instead of paying 2.5% to 3% commission to the listing agent, you pay a fixed fee to list your property on the MLS. This can save you a substantial amount, especially for properties with higher value.
2. Control and Flexibility: A flat fee listing service gives you more control over the selling process. You can manage showings and seek professional assistance for negotiations and paperwork.
3. Transaction Transparency: Flat fee listing services typically offer transparent pricing. This eliminates any surprises or hidden costs.
4. Customization of Services: Flat fee companies usually offer different packages to cater to varying needs and budgets. You can choose the package that aligns with your requirements. This way, you only pay for the services you use.

How Do Flat Fee MLS Listings Work?

Flat Fee MLS listings allow you to list your properties on the Multiple Listing Service (MLS) for a flat fee instead of paying traditional agent commissions. Once you list your home, you must select one of the packages they provide.

Next, fill in the required details of your property and make the payment to finalize the listing. On completion, the fixed fee listing agent will make your listing live on the MLS and hundreds of other real estate websites.

Subsequently, buyer agents can view your property on the MLS and recommend it to prospective buyers.

» How to List on MLS: Here’s all you need to know about listing your house on the MLS.

Is Flat Fee MLS Legal?

Yes, it is legal to list your home on the MLS for a flat fee.

In fact, the DOJ of America recently updated its bulletin highlighting the benefits of Flat Fee MLS for For Sale By Owner.

However, while selling FSBO, you need to take care of all the mandatory disclosures and paperwork to avoid legal problems in the future.

» FSBO Contract: Check out our detailed guide on drawing up a For Sale By Owner Contract.

How Much Does It Cost to List Your Home on MLS for a Flat Fee?

The following costs are associated with a Flat Fee listing:

• Upfront Flat Fee: This is the amount you’ll pay to get listed. Typically, it is between $300 and $500.
• Fees at Closing: Most flat fee services will not charge additional fees unless you are in a minimum service state.
• Hidden Charges: Many unscrupulous brokers may reel you in with a $99 listing. Beware – that’s just the start. You’ll be paying $500+ in hidden fees. A $50-yard sign may cost $135. Moreover, some brokers may demand extra charges at closing when it would be too late to do anything.

» Closing Costs for Sellers: Calculate the approximate seller’s closing costs with Houzeo’s advanced calculator.

What Are the Best Flat Fee MLS Listing Services in America?

1. Houzeo

Houzeo.com is America’s #1 ranked Flat Fee MLS service. The company provides an unbeatable combination of max savings, 5-star customer support, and cutting-edge technology.

Houzeo offers flat fee listing packages at affordable rates to home sellers. Your home will be listed within 48 hours. Even if you’re a first-time home seller on the MLS, Houzeo’s offer management and showings tool will help you ace your real estate journey like a pro.

2. Beycome

Beycome’s MLS listing packages are reasonably priced. The company offers legal forms, seller disclosures, an Open House scheduler, and customer support. We recommend the $399 Enhanced Package for FSBO home sellers.

Beycome operates like a traditional Realtor, which involves manual processes. This can delay the listing process significantly. You’ll have to be very diligent and manage leads manually outside the platform.

3. Homecoin

Homecoin is a For Sale By Owner website that offers a single Flat Fee MLS package, priced at $95. You can avail of their rental lockbox, professional real estate photographs, or signposts at additional costs.

We do not recommend Homecoin for most home sellers. While the $95 flat fee package is compelling, Homecoin’s limited coverage is a matter of concern. Not all Americans can benefit from their MLS access package.

What Does Houzeo Offer to a Home Seller?

Houzeo is by far the best flat fee listing service for the following reasons:

• Maximum Exposure: Houzeo’s flat-fee service gets your property automatically syndicated to different national portals/brokerages such as Zillow, Redfin, Trulia, and hundreds more.
• Fast Listing: With Houzeo, you can expect your listing to be active in just 2 business days. In North Carolina, Florida, Georgia, and Tennessee, listings get activated within 24 hours.
• Save on Commissions: Houzeo mentions its package prices upfront. There are no hidden costs at closing. Houzeo’s affordable listing plans are packed with tools and services that are needed to provide you with the best results.
• Automated Listing Experience: The IntelliList Listing Management system is a user-friendly feature that helps you manage and update your listing. You can request changes online. The “counter-offer” feature lets you make a counteroffer on your listed home.
• 5 Star Reviews: Houzeo has 4.9 stars overall on Google and Trustpilot. More than 96% of home sellers have reviewed Houzeo as “Excellent”.
• Houzeo Mobile App: Houzeo allows you to check your listing and assess offers. You can review and compare offers on your property on the go! Home buyers can search for homes for sale right from their smartphones.

Flat Fee MLS Listing Services Near Me

NAR Settlement Saves Sellers Thousands in Commission

The NAR Settlement went into effect on August 17, 2024. Buyer agent commissions can no longer be offered on the MLS. This means sellers will save thousands! But it also means there’s a lot more compliance and litigation risks.

Here’s what this means for you:

• Sellers Can Save Thousands in Commissions: You will likely pay much less than the traditional 3% buyer agent commission. That’s because buyer agent commissions will be negotiated twice: Once when buyers engage buyer agents, and again when sellers review offer contracts.
• Seller Priority #1 Will Be Paperwork (to Mitigate Compliance & Litigation Risks): Buyer agents mitigate all types of risks. From seller disclosures, offer contracts, contingencies, inspections, repair requests, appraisal, and closing – Buyer agents keep the paperwork tight. Their state licensing authorities, Realtor associations, and MLS’ audit paperwork compliance. Without buyer agents, sellers will have to learn and adapt. Or risk expensive litigation.
• Negotiations Can Now Feel Like Haggling: Buyer agent commissions will now be part of offer contracts and buyer agency agreements. Buyers may ask sellers to include commissions in the form of seller concessions. That means home buyers and sellers alike will be negotiating commissions. Sellers will need expert licensed brokers to help them with these negotiations.
• Buyer Agent Commissions Can Be Offered Offline: Buyer agent commissions can still be offered outside of the MLS. They just cannot be advertised on the MLS.

Alternatives to Flat Fee MLS Listing Services

Flat-fee companies are the best option if you want to retain most of your hard-earned equity in your homes. But if you’re looking for more assistance, several other options exist.

• Hire a Discount Real Estate Broker: Discount real estate brokers charge between 0.5% to 2% commission. They offer all the services of a traditional broker at discounted rates. Though service quality may differ!
  • 1% Commission Realtors: Clients save thousands by working with discount brokers at 1% commission rates.
  • 2% Commission Realtors: At a discount rate of 2%, they provide similar services to conventional Realtors.
  • 4.5% Commission Realtors: You can get all real estate services from your agent for a low commission of 4.5%.
• List With a Full-Service Realtor: You get the full-service in-person professional support you need. However, a full-service realtor charges from 5% to 6% commission.
• Sell to an iBuyer: iBuyers, like Opendoor and Offerpad, purchase hundreds of homes in the real estate market. iBuyers can be a great option if you’re wondering how to sell your house fast.
• Sell to Cash Home Buyers: Individual cash home buyers and companies that buy houses for cash make all-cash offers, usually within 24 to 48 hours. Cash buyers let you skip the hassle of listing on the MLS, inspection, appraisal, etc.
• Sell For Sale By Owner: Many FSBO websites will list your house on the MLS and help you with FSBO paperwork. You can list and sell a house by owner and save thousands in listing agent commissions.

Eager to Know How Houzeo Works?

We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best Flat Fee listing service in the U.S.

» Houzeo Review: Find out why Houzeo is one of the best Flat fee service in the US.

Frequently Asked Questions

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