Flat fee broker or traditional agent for a flip?

Question

Hello,

I'm preparing to list my first flip, and I'm debating how I should go about this. When I was about 98% done w/ the rehab, I put a sign out front just to see if I get lucky, no real serious offers. There is no doubt this house will sell within first month, if it is on the MLS, on all the real estate apps, and priced right. I'm just trying to maximize my profit, but perhaps I'm being greedy. I really do not want to give someone 5-6% for all of my hard work.

I was strongly considering going with a flat fee broker to save $7-8000, and just handle the buyer agents. I was hoping to get some advice whether this could be a strong way to go, pros and cons.

How much more marketing can an agent do besides listing on MLS, and the real estate apps? Is it WORTH it, or is a flat fee broker a solid way to go?

Thanks!

Susan K. · Answer

I would go flat fee and consider 3% going to a buyer's agent.  If it is priced well and on MLS it will sell.  Save the money if you can.  Close at a decent title company and you should be good to go.  Consider using professional photos for the listing.  That may be worth the investment.  You are not being greedy in my opinion and I'm a real estate agent.

Russell Brazil · Answer

All depends on your comfort level and familiarity with the laws.

I will say though your best bet would have been to hire the agent pre-rehab.  That is when a lot of their expertise can be utilized with decisions on finishes, colors, rehab ideas etc. (Assuming they have experience with that)

Brian Pulaski · Answer

I have only sold with a flat fee listing service. I preferred it and had no issues selling my houses fast. With that said I am using a realtor with my current flip. Not sure we will make it to market but if so I will see the pros and cons.

Flat fee broker or traditional agent for a flip?

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