What can go wrong when listing a Flat Fee Listing?
Flat Fee MLS Listing Services are a great way to avoid paying the dreaded 6% commission. But there are some things that sellers should know before they get into a Listing Agreement with a flat fee service.
1) Bad contact with Listing Agent
When most people google: flat fee MLS, they see multiple services for this type of transaction. Most sellers do not know that they are essentially hiring a marketing company to hire their flat fee agent. This agent may have very little interaction with the seller, and this is due to the fact that there was no clear interaction in the first place. Sometimes sellers do not even know who their listing agent is in the first place. This translates to truncated communication between the buyers agent and the seller.
2)Buyer's Agents do not feel comfortable with the transaction
If you are doing a Flat Fee Listing in Houston or Dallas you will see that agents have a certain way of doing things. This is years of traditional real estate at work, that is hard to shrug off. Our suggestion is to keep all things the same for the buyer's agent, and pay attention to their questions. If your listing agent is not being responsive, you may miss calls and offers. Buyer's agents tend to contact the listing agent for all their concerns and questions.
3)Lack of Proper Advice
TREC, MetroTex and HAR all want you to be properly advised as a seller. This is important not just to your sale, but to the market overall. The biggest complaint of the flat fee listing model is the lack of advise. Agent relationship is explained in this form.
We are here to correct the mistakes of our competitors and bring you local attention and advise. We are attempting to become your solution to avoid the 6% commission while getting your property to closing.
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Will Puente, MBA