FSBO meets MLS…Magic!
It used to be that there were two choices when faced with how to list a property in Florida:
- List with a full service FL Realtor for around 6% commission and have that agent do everything with regard to the listing process, most importantly place it in your local Miami, Orlando, Tallahassee, or Tampa MLS, depending on where the property was located.
- Put your property on the market yourself as a “For Sale By Owner” and take all of the responsibility into your own hands. All marketing was up to the FSBO but there was no exposure on the MLS (a major downfall). The up side was that if you found a buyer, you wouldn't pay any commission to an agent.
Then something happened…
One day a Florida real estate agent said, “Why couldn't we offer sellers the option to list in the MLS but still stay in control of all aspects of the listing as a FSBO?” And voila! Discount real estate or flat fee MLS listing was born!
The “For Sale By Owner” listing method has two upsides:
- No commission to an agent
- Control over the listing
The FSBO home listing method also has 2 major downfalls:
- Very limited exposure because no listing in MLS; a huge limitation when 86% of homes are sold by Realtors
- All contract negotiations are done via the buyer and seller; often sellers don't have the knowledge or experience to do this without leaving themselves vulnerable
When Flat Fee MLS was introduced to By Owner Sellers, magic happened!
- Sellers still got to maintain control over their listings and still receive all leads directly
- FSBO's got the widespread exposure they needed, both locally through their area MLS and nationally through sites that feed from the Multiple Listing database such as Realtor.com.
- For Sale By Owner sellers offered a commission, but about ½ of what they would pay if listed with a full service agent. (This occurs because the listing side of the commission is replaced with a minimal flat fee and only the “selling” agent who finds a buyer gets paid a commission. This is usually anywhere from about 1.5% to 3%).
In conclusion, FSBO meets MLS creates the perfect synergy, allowing FL sellers to have it all. In a buyer's market, being a By Owner home seller is simply not enough. To sell a home in Florida in a down market, the most important thing is EXPOSURE. This can only be done effectively by getting your home in the MLS.
While Florida By Owner home owners are still left with the responsibility of negotiating their own contracts, there is a comprehensive discount MLS listing, Professional ADDvantage™, offered by GetMoreOffers.com. With this program, FSBOs can essentially get full service at a significant discount. For just 0.75% at close ($1,500 min), all contract work is done by a professional who is experienced in negotiating and getting the most for the sale of your home in Pensacola, Ocala, Sarasota, Ft Lauderdale, the Keys, St. Augustine, Miami, Tampa Bay, or anywhere else in the Sunshine State!
This article is filed under For Sale By Owner. View other articles in For Sale By Owner.
This article is filed under Flat Fee MLS>Florida. View other articles in Flat Fee MLS>Florida.