All Forum Posts by: Jorge Zea

FSBO without MLS presence randomly works.

94% of all transactions happen Through the MLS.

The best of both worlds is using a Flat Fee MLS listing like ours (we are licensed in FL and participate in the MLS that covers Lake county 8and many more).

You just offer a commission to a buyer agent, get it onto the MLS and all Realtors will be happy to sell it knowing they will get paid.

Remember that commissions are calculated on the total sales price of the property but they come out ONLY of your equity. This disproportionally affects the return of your investment. Every dollar saved in commissions is a dramatic exponential bust for your profit.

You can do it ... check my profile for website

Knowledgeable investors should not pay both sides of the commission. They are good enough to invest in Real Estate ... they are good enough to avoid the listing agent and do the legwork themselves. Real Estate investing is a Profit-Oriented business and each deal is very sensitive financially to equity results (cash on cash). Every small percentage you can save in commission, impacts exponentially your cash on cash.

REMEMBER: Commissions strangely are calculated on the Total Sales Price BUT the come out from your equity directly. This affects your results exponentially and disproportionally.

Flat Fee is by far the best way for investors to improve their bottom line. 

Get a good reputable, State Licensed Flat Fee listing Broker and you will do just fine. Do not use referral services or companies that you can't track their licenses for the state they offer services in.

I know very good professional Brokers that go the extra mile and do fantastic work for their sellers. We respect them tremendously. Those will always have listings and have nothing to fear.

...but there is huge pool of agents out there that the ONLY thing the do when listing a property (and expect to earn around 3%) is list it in the MLS. This gets the property syndicated through the Internet and the Buyer's agent ends up doing all the legwork. (remember that more than 90% of the properties are sold through the MLS ... this is why FSBOs don't work).

That is the gap that the Flat Fee MLS listing service fills very effectively.

Most of the Brokers posting here feel threatened by the Flat Fee service ... but they shouldn't. Just by the fact that they participate in this forum, they are demonstrating that they are the professional ones I described earlier.

Most of them have very valid points, but are describing a seller that is not the savvy investor, the experienced flipper, the consummated flipper and rehabber that belong to our unique BP community. They are describing the "common" seller that wants to sell their house and that do not do it professionally as their business. For those individuals, the Flat Fee service brings some challenges (that can be easily overcome), but this is not the forum where they look for answers; these brokers criticizing the Flat Fee service  are doing it in the wrong venue because they are trying to reach those who are absent from this forum.

When I write here, I assume (correctly if we see who participates), most of the readers have at least the basic skills to be able to sell their properties and save some money. Hence, for this BP community, the Flat Fee Service is a great efficient service and a HUGE boost for their Cash on cash return.  Just run the numbers.

We have investors, and wholesalers that use our service and list 7 or more properties per months ... and they sell them fast; they pay a fair 3% to the buyers' agents (who really deserve it) and save at least a 3% of the listing side of the commission. Multiply that for hundreds of properties a year and there is no discussion left. It is all a numbers game for RE professionals.

The bottom line is: "if the seller makes money (or saves money), then it works". the numbers don't lie: Flat Fee MLS Listings work.

There are stories and more stories. Each case is different. But for people who know what they are doing, feel comfortable negotiating a deal, showing a property, scheduling appointments, talking to people and doing some work, the Flat Fee system is perfect. 

There will be instances where the Flat Fee service is not appropriate and for those, there will always be a Full Service Brokerage available in all Zip Codes (many good, reputable, professional and effective at discounted prices).

It is a fact that Flat Fee MLS listings services are dramatically effective and save people huge money; for investors, flippers, rehabbers, wholesalers, BRRR, etc. the system is a no brainer. Saving 3% (...or more) in a transaction reflects exponentially in their Cash-on Cash results.

Remember that commissions are calculated on the total sale price but they are paid from the seller equity; so the greater the leverage the biggest the impact on Cash-on-Cash.

Flat Fee.

Gary hi.

I sent you a connect request. Check my profile. We do Flat Fee listings in NORCAL - I am licensed in California. Approve my connect request and I will send you info.

I would look into BRRR strategy (Buy, Remodel, Refinance, Repeat). there is plenty of literature here in BP.

@Account Closed: Just reading what is on their website. It is indeed a referral service so you don't know who will list the property until after you pay. Personally I prefer to engage with the broker from the beginning.

At least in FL it is a felony to solicit listings without a license (which is, in my opinion, what they are doing) ... not sure NY or other states. If something goes wrong, it will be almost impossible to go after the TX broker as they are not regulated by your state.

It is just my opinion.

Flat Fee MLS is the way to go for knowledgeable people and for confident buyers.

Make sure you deal with a Broker Licensed in your state directly (check for licenses). Avoid at all costs referral services. Be careful with mlsmyhome. After checking their license, this company is ONLY licensed in Texas. It may be a felony (in some states) to solicit listings without having a Real Estate License for that state. Furthermore the $99 level service does not list the property in the MLS, which defeats the purpose altogether.

It can't be underestimated. To sell your property fast and for top dollars, the best way (by far) is to get exposure through the MLS. Direct FSBO without internet just doesn't work.

The best alternative is a Flat Fee listing (or entry only). You will have to offer a commission to a potential buyer's agent, but you can offer an amount that you feel comfortable with and that fits within your marketing mix strategy (pricing).

Google as @Ruth Bayang says for a Flat Fee MLS in New Jersey ... most probably you will get several.

Make sure it is not a referral service but a direct broker. Check and make sure they are licensed in the state and go ahead with it.

You will be amazed!