How a Flat Fee Listing Differs From a Full Service Realtor®
In a standard real estate transaction with a Realtor®, the seller agrees to compensate the Realtor® a percentage of the sale price, typically around 6% for a house. The Realtor® then places the property in the Multiple Listing Service, offering around half (3%) of their commission to any agent who delivers a buyer to purchase the home.
In a flat fee MLS listing, the seller pays a broker a flat fee to place the listing into the MLS. The broker will still offer compensation (3%) to any agents who find a buyer, as required by most Multiple Listing Services. The savings would be in the form of 3% of the sale price, minus the fee you paid up front. At Get More Offers, the seller chooses how much commission to offer to the buyers' agents in the MLS.
The Savings Can Be Great!
If you were to sell your home for $200,000, using a 6% Realtor® you would have to pay $12,000 in commission ($6,000 to the Realtor® you listed your property with plus $6,000 to the agent who found a buyer for you.) If you used a flat fee listing service, your commission owed would be only $6,399 ($399 for the flat fee-using our GOLD Advanced MLS Listing program, for example, plus $6,000 to the agent who found a buyer for you.) By using a flat fee MLS service instead of a full service agent, you would save $5,601!
Find a Buyer Yourself, Pay ONLY the Flat Fee and No Other Commission!
Occasionally the buyer for a property is not working with a buyer's agent. With our flat fee listing brokers, if the buyer who purchases your property does not have an agent, you will pay no other commission besides the up front flat fee you paid during signup. Many full service Realtors® would keep the entire 6% commission for themselves, even if the buyer came to the deal with no agent.
*For same day listing entry Mon-Fri: listing must be complete** by 2PM EST. (If holiday, listing entered following business day.)
Saturday & Sunday: Completed listings will be entered on the next business day (Monday unless holiday).
The MLS Only program may take up to 48 hours.
** "Complete" means: payment received, one (1) exterior front photo uploaded, listing agreement complete, and start date set to current (non future) date.