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Thread: Flat Fee to List House for Sale

  1. #1

    Flat Fee to List House for Sale

    Any recommendations on flat fee companies that list a house for sale in Calvert? Realtors want 3% just to take pics and put it on the MLS . From past experiences the selling agent really didn't do much else to sell the house. If you have had success or failures using alternative/web companies that sell & list on MLS please let me know.

    I have found some list-it-yourself websites ($500 list fee -on MLS, Zillow, etc. with an extra $500 to offer a warranty to the buyer and $30 for a yard sign). But would like to hear some real & local experiences.

    Thanks y'all :)
    Last edited by calvcopf; 06-18-2017 at 11:44 PM.

  2. #2
    No personal experience with using them. From talking to realtor friends, they won't show their buyers those discount broker properties as in their experience it is not worth their time. It's more complicated to set up showings and with the lack of a realtor on the other end of the deal it often gets hung up at the negotiation stage. So unless you are confident that you can do what needs to happen to make a sale yourself, those 2% are imnho a good investment. My last home sold 30k over comps in the neighborhood and we had a deal within 2 weeks of listing, our realtor was undoubtedly part of that successful sale. I have watched other properties in the neighborhood languish on redfin for months.

  3. #3
    Registered User Goldenhawk's Avatar
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    I have no info on flat fee listings, but I can say regarding realtors that you have to shop them just like you would shop for an employee. Interview them, find out what they do to sell a house, what their history is, their sales volume, typical turnover time, etc. Then when you pick one, you have to actually take their advice on pricing and staging and photos. It's incredible to me (looking at a LOT of real estate listings for the last four years doing house flips) how many horribly staged and photographed homes are listed. And we see a LOT of prices that are beyond wishful, due to lack of solid advice on comparables and pricing. So you have to find the right agent, and if you do they will definitely help it sell much, much faster. Is it worth 3%? I can't make that choice for you, but I think so, only because MLS basically has a solid monopoly on the home sale communication market.

  4. #4
    Registered User PeoplesElbow's Avatar
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    I knew someone that was going to sell some property that I wanted to buy, we skipped the 6% extortion fee from the realtors and went straight to a real estate attorney. The attorney cost me $1k, but overall I saved $5k going this route.
    If what I say offends you then you really don't want to hear what I keep to myself.

  5. #5
    If I may ...

    Quote Originally Posted by officeguy View Post
    No personal experience with using them. From talking to realtor friends, they won't show their buyers those discount broker properties as in their experience it is not worth their time.
    Agents that do this are in violation of their duties as a "buyers agent" and can be disciplined by the Maryland Real Estate Commission. If you know of agents like this, they are the greedy lazy type that give the good agents a bad name.
    If the military wanted you to have a spouse, or family, they would have issued you one.

  6. #6
    If I may ...

    Quote Originally Posted by calvcopf View Post
    Any recommendations on flat fee companies that list a house for sale in Calvert? Realtors want 3% just to take pics and put it on the MLS . From past experiences the selling agent really didn't do much else to sell the house. If you have had success or failures using alternative/web companies that sell & list on MLS please let me know. I have found some list-it-yourself websites ($500 list fee -on MLS, Zillow, etc. with an extra $500 to offer a warranty to the buyer and $30 for a yard sign). But would like to hear some real & local experiences. Thanks y'all :)
    A real estate agent does way more than take pictures and MLS input. If you have no experience in selling a house, find a good real estate agent. There are local real estate companies that do these flat fee services, and you get to ask questions. Like, how should I fill out my discloser/disclaimer paperwork? Here's a hint: Do not lie.
    If the military wanted you to have a spouse, or family, they would have issued you one.

  7. #7
    Quote Originally Posted by LightRoasted View Post
    If I may ...


    There are local real estate companies that do these flat fee services, and you get to ask questions.
    Who are these companies ?

  8. #8
    If I may ...

    Quote Originally Posted by calvcopf View Post
    Who are these companies ?
    And there in lies the rub. You are gonna have to call around to see who does it. There appears to be a big issue in the industry regarding those now. It seems that the law says if an agent lists someone's house, (in essence a flat fee listing is a contract with the seller) that agent should represent the seller. Were there used to be many advertising such services, that trend seems to be reversing. So there are fewer agents (brokerages) doing them because legal issues have been raised. And agents, and especially brokerages, hate legal entanglements. Sorry.
    If the military wanted you to have a spouse, or family, they would have issued you one.

  9. #9
    Quote Originally Posted by LightRoasted View Post
    If I may ...



    Agents that do this are in violation of their duties as a "buyers agent" and can be disciplined by the Maryland Real Estate Commission. If you know of agents like this, they are the greedy lazy type that give the good agents a bad name.
    Is it your opinion that a realtor has an obligation to present every property on the market to their client ?

  10. #10
    If I may ...

    Quote Originally Posted by officeguy View Post
    Is it your opinion that a realtor has an obligation to present every property on the market to their client ?
    Yes. Every property. Even For Sale By Owners (FSBO), if it fits the buyer's criteria and the agent knows of it, such as not being in the MLS system but happened to drive by it one day. By "showing", to mean a printout of possible homes, informed by email, phone call, or in person, then to an actual physical house showing. Example: Even if a property is just outside of the clients preferred area, but it falls inside the price range. The client must be informed of all possible homes that come up, or are available with the criteria given to the agent. After all, that is what the agent is being paid the commission rate for, after the broker gets their cut, of course. If it is found, that an agent is not doing their job property, by not informing their client of all known, or should have known, possible homes fitting their client's criteria, they can be reported to the Maryland Real Estate Commission or, action can be taken by a harmed client. Ie., "well if I/We would have known, I/We would have bought there" scenario. This type of activity can fall under the action of steering by the agent. And that Maryland Real Estate Commission, can be a very, very, unforgiving entity.
    If the military wanted you to have a spouse, or family, they would have issued you one.

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