Some sellers have concerns that traditional agents boycott limited service listings by not showing them. There are a few ways that a Realtor® can tell that you are flat fee listed:
- When a listing is entered into the MLS, the broker must choose a classification to designate the level of service given to the seller. Most “flat fee” listings fall into the category of “Exclusive Agency-Limited Service” or just “Limited Service.” The reason this classification is different from “Exclusive Right of Sale” is that the flat fee MLS listing company does not typically represent the seller with regard to contract negotiations and the seller may sell to an unrepresented buyer and pay no commission fees at closing.
- It is usually the case that the seller takes phone calls directly for showings in a limited service agreement. The language in the MLS for Realtors® to “contact seller directly at…” can be a giveaway that the seller is flat fee listed.
GetMoreOffers.com, Florida’s largest and most trusted flat fee MLS listing company (now also available in New York) has sold over $1 billion in real estate since we started offering flat fee MLS to Florida consumers in 2005. So, the success of our sales proves that Realtors® do not boycott flat fee listings.
Do not believe buyers’ agents if they tell you that 2% or 2.5% commission will never work either. I have been a Florida real estate broker for 34 years and have worked in the flat fee MLS trenches for 13 years. I have seen commission offerings of as low as 1.5% actually work to sell houses in highly cosmopolitan cities. I have spoken to hostile Realtors®, grumpy Realtors® and happy Realtors® and I can say this without a doubt in my mind: agents want to earn a living just like everyone else and selling homes is what pays their bills. Whether the listing is limited service-flat fee MLS or a traditional-full service listing makes no difference. The money is green and spends the same. It is that simple!
The other very important thing to remember is that it is the buyers (and their perception of your price) that actually dictate whether you get showings or offers, not the listing type or commission. It’s the information age and buyers have access to the same listing data as the agents. So it’s impossible for a buyer’s agent to avoid showing a home to their buyer when the buyer is almost always driving the showings. In most cases, they become aware of the listing before their agent does!
Knowing that buyers’ agents have no control over the sale should give you more confidence about your flat fee listing. What many don’t realize is that there are really only two or three players in a real estate transaction that call the shots—and the buyer’s agent is not one of them. The buyer is the most powerful player because they have the money. A buyer is smart…and they are “perfect,” meaning they can do no wrong because without them, no sale happens. The seller is next in the power hierarchy, followed lastly by the listing agent (if they represent the seller; flat fee or self-rep sellers represent themselves).
This is my advice about selling a home using flat fee MLS: do not concern yourself with the chatter you may hear from Realtors® saying they won’t show your home if you don’t list with a traditional 6% agent or offer a 3% commission. Both are false statements and both are an ethics violations to boot.
Should you happen to come across a buyer’s agent who tells you that they will not show a property that they know to be flat fee listed, ignore them and move on. Sometimes agents will simply say this in hopes that you will be scared into listing your home with them.
If you wish to be listed in the MLS with an Exclusive Right of Sale listing agreement rather than Exclusive Agency/Limited Service so that your listing will appear identical to other full service listings, another option is to list with a discounted full contract representation program such as our Platinum level with Altru® Realty. Altru offers many other valuable benefits to sellers with the strongest contract negotiators in the real estate industry for just 1.5%. ALTRU® Certified Negotiators have one goal: to net you the most on your sale and with the best terms possible. To find out more, check out my videos detailing topics such as Home Selling Pricing Strategies, Biggest Real Estate Misnomer, Proving the Value of Your Home…and more by going to: http://altrurealty.com/Videos.aspx.
For more information and to sign up for one of our Flat Fee MLS Programs, contact Getmoreoffers.com at 1-877-232-9695.