Flat Fee commission Selling (Rex) Vs traditional MLS Selling

[Brian OMahony]

I am a big advocate of partnering with a real estate agent to both sell and find deals. With the impact of COVID-19, I am now starting to question a flat fee selling commission vs the traditional MLS 4.5% to 6% real estate commission process. In the Northeast, buyers are utilizing more virtual tours vs personally seeing homes on their first or second evaluation. I am also seeing realtors do less open houses. Has anyone utilized Rex Real Estate (2% flat commission, rexhomes.com)? Any cons? Did this prolong your selling timeline? I have significant trepidation of not putting a house on the MLS, but the savings is tens of thousand of dollars per deal. Thoughts?

[Jonathan Greene]

Every person who thinks about pulling the real estate agent out of the formula has never had a good real estate agent or is cheap. A good agent does more than click a couple of buttons and puts a listing on the MLS, they understand the entire process and work it from start to finish like a professional. Every time I see a listing with a flat fee company I immediately let my clients know that the seller is trying to save money and often times will not have guidance on the transaction and will be very difficult in negotiations and inspections. This holds true about 90 percent of the time. If you give it a try, you will understand that you get what you pay for.