Real Estate Broker · San Diego, CA · Member since 2015 · 725 posts · 129 votes
8y
I'm a big fan of using Yelp to verify these flat fee companies, as the reviews are a little harder to "game". In general, here's the big things you want to look for in a flat fee listing:
1. The listing MUST be on the local MLS.
There are hundreds of MLSs in the United States. Sellers want to be on the MLS that covers the area where their home is located, so they can offer a commission to LOCAL buyer agents.
2. Cost to list + changes to listing.
Can range from $100-$400 for the exact same listing on the MLS. Watch out for fine print that requires an additional fee at closing. Make sure you are able to make changes to the listing after it has been posted for a nominal fee.
3. Photos on MLS.
Make sure you can upload at least a dozen photos. Some services offer a great price, but it's only for 1 photo - which is not useful for most properties.
4. Length of Listing.
Get at least a six month listing and be sure that there is no charge for cancellation.
5. Fine print.
You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent.
Ultimately, we've found that the three most important things when listing a home are 1) price, 2) pro photos, and 3) offering a fair buyer agent commission on the MLS (typically 2.5%).