Flat Fee Realty is an affordable solution in a dynamic real estate market where affordability and efficiency are paramount. However, the company offers a single package in all the states with minimum benefits.
In this Flat Fee Realty reviews blog, we delve into the service, and pros and cons of Flat Fee Realty, providing valuable insights into this groundbreaking real estate option.
Key Takeaways
- Pros: Flat Fee Realty provides a cost-effective solution for sellers in the real estate market.
- Cons: Flat Fee Realty’s listing package comes with limitations. The package offers a standardized set of services without much room for customization to fit specific needs or preferences.
- Our Take: Flat Fee Realty is a cost-effective option. They charge a fixed, flat fee instead of a percentage-based commission. However, additional fees apply for optional upgrades, such as extra photos.
What is Flat Fee Realty?
Flat Fee Realty is a Flat Fee MLS service model that challenges the traditional real estate agent. They offer a single Flat Fee MLS package that varies by state. Moreover, with this package, you get free listing changes and related disclosures.
However, Flat Fee Realty requires you to pay a minimum 2% buyer agent commission, 0.25% of which goes as a kickback to your listing agent. Therefore, you end up paying a small commission to the listing agent at closing.
How Does Flat Fee Realty Work?
Flat Fee Realty offers a range of services tailored to the specific needs of sellers. However, they offer a single Flat Fee MLS package throughout the nation, the price of which varies by state.
The Flat Fee Realty Process:
The process works in these simple steps:
- Choose a State: You select a state from the map on the home page to list your home.
- Select a Flat-Fee MLS Listing Package: Select the desired flat fee MLS listing package. The variation of services provided and price ranges – depend on your state.
- Sign Up: After choosing the package, sign up by entering your payment details. Next,
- Fill out the Forms: Submit all the necessary details.
- Upload photos on MLS: Add the photos of your property to the MLS listing as per your package.
Services/Packages
Flat Fee Realty offers a single service package to accommodate different real estate needs. The price of the package varies by state. Some of the standard services include:
- Listing your property on multiple listing services (MLS) for maximum exposure.
- 6 months of the listing term and 6 bMLS Photos.
- Free listing upgrades and state disclosures forms.
👍 Pros of Flat Fee Realty
- Cost-Effective: The most significant advantage of Flat Fee Realty is the potential for substantial cost savings compared to traditional agents who charge a percentage-based commission.
- Changes Made Simple: With Flat Fee Realty, you can make free status and price changes. Changes are important as casual errors can be corrected if present when the listing goes live.
- Easy Cancellation: You can cancel anytime and get a refund within 30 days of purchase. With a change of heart over selling your house, some of the listing fees will get refunded. After their broker completes the listing process, there are no refunds.
- Free Disclosures: Just like taxes, documentation is an important aspect of home selling. Flat Fee Realty offers free disclosures for all states.
👎 Cons of Flat Fee Realty
- Availability of Services: Flat Fee Realty offers a service package with limited features that traditional agents typically provide.
- Non-customizable Packages: Flat Fee Realty’s listing package provides no scope for customization. The package is a one size fits all plan, limiting the options you would like to opt for.
- 0.25% Commission at Closing: Flat Fee Realty charges 0.25% commission at closing. Even though they claim the buyer agent pays this, the entire commission comes out of the seller’s proceeds. Buyer agents will not willingly agree to this deduction.
Conclusion
Flat Fee Realty reviews offer a cost-effective and efficient alternative to traditional real estate services.
However, it’s essential to carefully consider that the services offered by Flat Fee Realty have limitations.
Frequently Asked Questions
1. Is Flat Fee Realty Legit?
Yes, Flat Fee Realty is a legitimate real estate service provider, offering MLS services throughout the nation.
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