How I use a FLAT FEE listing service for sale by owner

7 Replies

-Could explain to me how I use a FLAT FEE listing service for sale by owner ?

-How much costs?

-How does it works?

-Which link I should to follow to complete this proces?

please no body advice me to use agency!  I broken  I can't pay for them 

thanks

It's pretty simple. You pay a realtor to list your property on MLS for a fee. I've used it before and cost me $500. Their technically was a listing agent, but they receive no commission from the sale as they do not perform any work other than listing it. There were also 'a la carte' services available which can be useful for a fee (i.e. help with legal documents, negotiation advice).

Originally posted by @Joshua D. :

It's pretty simple. You pay a realtor to list your property on MLS for a fee. I've used it before and cost me $500. Their technically was a listing agent, but they receive no commission from the sale as they do not perform any work other than listing it. There were also 'a la carte' services available which can be useful for a fee (i.e. help with legal documents, negotiation advice).

 I looking for doing this by myself with little cost

You’ll still be paying 3% or so to the buyer agent. You can pick a lower % for the buyer agent.....but then no agents will show it and it will sell for lower price. 

@Asmaa Ahmed Buyers don’t pay for the buyer agent....99% of the time they are paid 3% from the 6% you pay the listing brokerage (they get half). If you pay the buyer agent, why would they show your property. 

And actually, I Loved it, for my buyer’s sake, when a listing only offered 1-2% for the buyer agent. You see, buyer agents have the buyer pay the difference in commission when a low ball amount to the buyer agent, if they show the property at all. 

So when my buyer makes an offer on one of these, not only do they discount their offer by the amount of commission they need to pay me out of pocket, we offer even Less than that by a good amount because we know almost no agents will show it, so Much less competition.....my buyer gets a lower price, the seller gets a lower price than they would have netted with a full commission because there is no competition....but yet, the seller seems to think he saved some commission even he lost much more than that due to no competition. 

Offering a smaller than normal commission to the buyer agent is a foolish strategy, that will certainly Net you less money. 

The last one we bought like that, 2% offered to buyer agent, we got for $50k under appraisal.