Updated: Jul 1
Unfortunately, only Realtors have access to the MLS which typically a Traditional agent will charge 2-3% to sell your home. You will also have to pay the buyer agent another 2 - 3% in commission for any agent that brings a buyer! That’s thousands of dollars of your hard earned equity!
Today, there are several companies ( 5 BEST FLAT FEE MLS MICHIGAN COMPANIES ) that will list your property on the MLS within 24-48 hrs at a relative low cost. It's the best of both worlds, you get full control & the marketing exposures to sell your home all while saving thousands of dollars!
Selling your home can be a daunting task, and one of the key steps in this process is to list it on the Multiple Listing Service (MLS). The MLS is a database used by real estate
agents to find properties for their buyers. Traditionally, listing on the MLS required hiring a real estate agent, but nowadays, there are services that allow you to list your property for a flat fee, saving you from potentially high commission costs. Properties that are listing on MLS sell faster & for 17% more according to a study. Below are the step-by-step instructions on how to do this:
How to List on the MLS (Steps 1-8)
# Step 1: Understand What 'Flat Fee MLS' Means
Before jumping into the process, it's crucial to understand what a flat fee MLS service is. In simple terms, it's a service provided by a licensed real estate broker who places your
property on the MLS for a flat fee, as opposed to the traditional percentage-based commission. This service is often used by those who want to sell their homes without hiring a full-service real estate agent.
# Step 2: Research and Choose The Best Flat Fee MLS Service near you
There are many flat fee MLS services available, and it's crucial to choose one that suits your needs. Some factors to consider include the listing duration, the number of photos you can upload, any additional services like signage or lockboxes, and the cost. Be sure to read reviews and check their reputation before making a decision.
# Step 3: Gather Your Property Information
Before listing your property, gather all the necessary information. This includes the property address, square footage, number of bedrooms and bathrooms, lot size, year built, and any additional features or upgrades. Also, prepare a detailed description of your property that highlights its unique attributes and selling points.
# Step 4: Take Quality Photos
Quality photos are crucial for attracting potential buyers. If possible, hire a professional real estate photographer to take high-resolution images of your property. Make sure to capture all areas of the property, including exterior, interior, and any special features or upgrades.
# Step 5: Price Your Home
Determining the right price for your home can be tricky. You can use online tools to check comparable home sales in your area, but for a more accurate valuation, you might want to consider hiring a professional appraiser.
# Step 6: Fill Out the Listing Agreement
Once you've chosen a flat fee MLS service, they will provide you with a listing agreement to fill out. This agreement will detail the terms of the service, including duration of the listing, the fee, and your responsibilities as the seller. Read this agreement carefully before signing.
# Step 7: Submit Your Listing
After your listing agreement is signed, you can submit your listing to the flat fee MLS service. They will review your submission and, once approved, your property will be listed on the MLS.
# Step 8: Manage Your Listing
After your property is listed, you'll be
responsible for managing the listing. This includes answering inquiries, scheduling showings, negotiating offers, and handling the closing process. Some flat fee MLS services offer additional support for these tasks, so consider whether you need this assistance.
Listing your property on the MLS for a flat fee can be a cost-effective way to sell your home, but it does require more work on your part. Be prepared to put in the time and effort, and consider seeking legal or real estate advice if you're unsure about any part.
Top 3 Reasons homes sell for more when listing on MLS
There are several reasons some homes sell faster & for more. Here the Top Three Reasons homes sell for more:
1. Marketing Exposure/MLS
Marketing your property on third party sites such as Realtor.com, Zillow.com, Redfin, & etc can be key to your property selling quickly and driving the most traffic to your home. The way to get your property on all third party sites is the Multiple Listing Service (MLS), the MLS is where all agents list properties to market to all local brokers which the public does not have access to. The MLS syndicates to all third party sites which there are hundreds, It's the key to maximizing your audience. Social media sites such as Facebook, Twitter, Instagram, & YouTube can also contribute to getting the maximum exposure and driving traffic. Listing with a Flat Fee MLS company such as Simple Fee Listings, can be the difference if you property sells or not!
Price, Price, Price. Pricing your home may be even more important than marketing. Pricing the home to where buyer's feel there's value can be the difference in receiving multiple offers over ask and using other offers as leverage rather than not getting any offers. When you over price the home, buyers tend to have the mind set they will wait for it to come down in price or its just not worth it. Pricing a property incorrectly can cost you thousands at the end of the day, it's worth having a Broker/Agent do a Comparable Market Analysis (CMA) to help find the "sweet spot".
Having a well kept home goes a long way even when its out-of-date. Buyers get the impression the home was well cared for and appreciated, which gives the buyers a sense of security when buying the home. Updates are also a big factor. Buyer's love a turn key home, they just want to move in & enjoy their new home. Having an updated kitchen, bathrooms, & basement add significant value to the home.
Benefits of listing on MLS with Flat Fee MLS Listing Service
One of the main benefits of a flat fee MLS listing service is that it can save the seller thousands of dollars in commission fees. Instead of paying a commission of 5-6% of the sale price, the seller pays a flat fee that is typically much lower. This can be especially beneficial for sellers who have a high-value property or who are looking to maximize their profits from the sale.
Another benefit of a flat fee MLS listing service is that it gives the seller more control over the selling process. The seller can handle inquiries from potential buyers and show the property themselves, which can be more convenient and save time. Additionally, the seller can choose to work with a real estate agent for additional support, but they are not required to do so. Some other benefits as well:
Listing options: Seller(s) have flexible options from $199.00 up to 1,499.00 for full service, saving the consumer thousands compared to the Traditional Agent.
Flexibility: Choose your co-op commission offered, find the buyer yourself? Pay 0% in commissions!
Service: Direct contact; All Calls, inquires, showing request, & offers go directly to you! Live within 24hrs, complete all required forms & sign online, & listing syndicates to 100's of third party sites like Zillow, Realtor.com, Redfin, Etc.
No Hidden Fees: "What you see is what you get" Michigan Flat Fee MLS companies usually charge a one time fee upfront for listing the property on the local MLS. The packages are pretty self explanatory & detailed with the level of service you will receive.
Cancel Anytime: Most agents use an Exclusive Right-to-sell Contract, binding the seller to the agreement for a specific period of time. MLS Listing service companies use an Exclusive Agency Agreement, allowing the consumer to cancel anytime with no fees!
We’ve reviewed several Michigan Flat Fee Companies, researching and reviewing their services, reviews, coverage area, packages, & pricing! Here are our rankings in the Great Lake State:
Why Choose Simple Fee Listings, LLC ?
Simple Fee Listings, LLC is a real estate company that operates in the United States. The company's mission is to provide a more affordable and transparent way for homeowners to sell their homes. Simple Fee Listings, LLC achieves this by offering a flat fee listing service that saves homeowners thousands of dollars on traditional real estate commissions. Founded in 2019 by Real Estate veteran and entrepreneur, Randall Wolber Jr, Simple Fee Listings, LLC has quickly become a popular choice for homeowners who want to sell their homes without having to pay high commission fees. The company has expanded rapidly since its inception, and now serves homeowners in multiple states across the U.S. One of the main advantages of using Simple Fee Listings, LLC is the cost savings. Traditional real estate agents typically charge a commission of around 6% of the sale price of the home. This can add up to tens of thousands of dollars, which can be a significant burden for homeowners who are already facing the costs of moving and buying a new home. Simple Fee Listings, LLC offers a flat fee listing service that starts at just a few hundred dollars, depending on the location and the services required. Another advantage of using Simple Fee Listings, LLC is the transparency. The company's pricing is clearly laid out on their website, so homeowners know exactly what they will be paying upfront. There are no hidden fees or surprises, which can be a relief for homeowners who are already under a lot of stress during the home selling process. Simple Fee Listings, LLC also offers a range of additional services that can help homeowners sell their homes more quickly and easily. These services include professional photography, drone photos, and open house support. The company has a team of experienced real estate professionals who can provide advice and support throughout the entire process, from listing the home to closing the sale. In conclusion, Simple Fee Listings, LLC is a real estate company that offers a more affordable and transparent way for homeowners to sell their homes. With a flat fee listing service and a range of additional services, the company has quickly become a popular choice for homeowners who want to save money and simplify the home selling process. If you're thinking of selling your home, Simple Fee Listings, LLC is definitely worth considering.
Randall Wolber - Broker - Simple Fee Listings, LLC