What is the difference if a seller goes with a Flat Fee Discount Realty Service for MLS or a Full Service Company for MLS?
With the Flat Fee, you usually pay somewhere between $250 – $700 to have your home placed in the MLS by a Listing Agent and then you will usually pay a 3% commission to the Selling Agent that brings in the buyer.
- The Seller will do their own flyers or you can pay the discount real estate company or For Sale By Owner Company a small fee to do them for you.
- The Seller will hold their own open house. The dates and time can be put into the MLS for all to see.
- The Seller will be the point of contact for the Selling Agent regarding showing the home and any questions they may have.
- The Selling Agent will present the purchase offer to the Seller.
- The Seller will then hire an attorney to review the contract or many of the discount companies will charge another small fee to handle the contract review and assistance to get you to closing. www.GoToFSBO.com charges $475
With the Full Service listing, you will pay the Listing Agent 3% to put you into the MLS and then another 3% to the Selling Agent.
- The Listing Agent may do flyers for you
- The Listing Agent may hold an open house for you.
- The Listing Agent will be the point of contact for the Selling Agent regarding showing the home and any questions they may have.
- The Listing Agent will go over the purchase offer with the Seller and handle the details up to closing.
You decide if showing your own home and doing your own flyers is worth 3% of your home’s equity.
Either way – flat fee listings and full service listings all go into the same MLS system and can only be entered in by Realtors.
Debbie Kent, dk@gotofsbo.com, 703-551-4757 – 15 Years Serving Virginia Home Sellers and Buyers
