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Pros and cons of using a flat fee MLS listing service
Pros of using a flat fee MLS service
- Save on commission: You eliminate the listing agent’s commission (typically 2.5% to 3%).
- Take full control of your sale: You manage pricing, marketing, negotiations, and closing.
- Pay a fixed, upfront cost: The fee is known in advance, unlike traditional commission-based pricing.
- Get MLS exposure: Your home will appear on the MLS and major home search websites.
- Attract buyer’s agents: Listing on the MLS helps reach traditional buyers represented by agents.
Cons of using a flat fee MLS service
- You still pay a buyer’s agent commission: Even with an MLS listing, most buyers work with agents who expect compensation.
- No professional guidance: You’re responsible for handling potential deal-killers like inspection issues or low appraisals.
- More work for you: From marketing to negotiations, you’ll manage the entire process.
- Legal risks: Without an agent, you must ensure compliance with required disclosures and contracts.
- Risk of selling for less: FSBO homes often sell for less than agent-listed properties, reducing potential savings.
How do I list my home with a flat fee MLS service?
Once you’ve decided to use a flat fee MLS service, follow these steps to list your Nebraska home:
Step 1: Research local flat fee MLS services
Compare companies, pricing, and reviews, and check the Better Business Bureau. Confirm what each service includes, such as the number of photos allowed and any additional fees.
Step 2: Choose your plan
Select the package that fits your needs and budget, then pay the upfront fee online.
Step 3: Provide your property details
Create your listing by uploading photos, writing a description, and completing any necessary disclosure forms.
Step 4: Sign the listing agreement
Carefully read and sign your agreement. Ensure you understand cancellation policies and confirm there’s no hidden commission.
Step 5: Review and confirm your listing
Once your listing is live, review how it appears on major real estate sites. Check for accuracy and completeness.
Are flat fee MLS listings effective in Nebraska?
A flat-fee MLS listing can be an effective way to sell a home in Nebraska because the MLS is the primary database for real estate listings. Nearly all homebuyers use the Internet to search for properties, and most major home search websites pull directly from the MLS.
Additionally, buyer’s agents rely on the MLS to find homes for their clients, making it one of the most effective ways to gain exposure. While success depends on factors like pricing, marketing, and market conditions, listing your home on the MLS increases your chances of attracting serious buyers.
Alternatives to flat fee MLS services in Nebraska:
If a flat fee MLS service doesn’t seem like the right fit for your home sale, there are other options to consider.
Flat fee real estate agent
A flat fee real estate agent charges a set amount, rather than a percentage of the sale price, to handle some or all aspects of the transaction. Fees typically range from $3,000 to $5,000, but services vary, so review the contract carefully to understand what’s included.
Discount real estate brokers
A discount real estate broker offers a lower commission than traditional agents, often around 1% to 2% of the sale price. While these brokers provide more support than a flat fee MLS service, the savings are usually less than with an FSBO sale. Learn more about the pros and cons of low-commission agents before deciding.
Full-service real estate agent
For homeowners who want expert guidance, a local real estate agent offers full-service support, including pricing strategy, marketing, negotiation, and transaction management. While agent commissions are higher, homes sold with an agent often achieve higher final sale prices than FSBO listings.
Will I save money with a flat fee MLS listing service?
A flat-fee MLS listing service can help Nebraska home sellers save on agent commissions, but it may not always result in the most profitable sale.
According to the National Association of Realtors (NAR), FSBO homes sell for nearly 14% less than homes sold with an agent. In 2023, the median sale price for FSBO homes was $380,000, compared to $435,000 for agent-assisted sales. FSBO homes sold to a friend or neighbor had an even lower median price of $345,000.
While a flat fee MLS service can provide exposure, sellers must still handle pricing, negotiations, and legal requirements—tasks that real estate professionals are trained to manage. In some cases, the savings on commission may not outweigh the potential loss in the final sale price.
What if I need to sell my Nebraska home fast?
While using a flat fee MLS listing service is an option, Nebraska home sellers must still comply with local disclosure laws. Sellers are legally required to provide buyers with accurate information about the property’s condition, which can include structural issues, past repairs, and environmental hazards. Because real estate contracts can be complex, hiring a real estate attorney is advisable to ensure all legal requirements are met and to avoid costly mistakes.
Key points to remember:
- Flat fee services require upfront payment, whether or not the home sells.
- Some services change names frequently, making it harder to track their reputation.
- Seller contact information is often included in the listing, meaning you’ll handle buyer inquiries directly.
- There’s limited or no seller support compared to working with a traditional real estate agent.
- Agent commissions are negotiable, meaning working with an agent doesn’t always mean paying full commission.
What else should I know about selling a house in Nebraska?
While using a flat fee MLS listing service is an option, Nebraska home sellers must still comply with local disclosure laws. Sellers are legally required to provide buyers with accurate information about the property’s condition, which can include structural issues, past repairs, and environmental hazards. Because real estate contracts can be complex, hiring a real estate attorney is advisable to ensure all legal requirements are met and to avoid costly mistakes.
Key points to remember:
- Flat fee services require upfront payment, whether or not the home sells.
- Some services change names frequently, making it harder to track their reputation.
- Seller contact information is often included in the listing, meaning you’ll handle buyer inquiries directly.
- There’s limited or no seller support compared to working with a traditional real estate agent.
- Agent commissions are negotiable, meaning working with an agent doesn’t always mean paying full commission.
Selling a home without an agent requires time, effort, and an understanding of the real estate process. A flat fee MLS listing service can help you get exposure while saving on commission, but it also means taking on the responsibilities typically handled by an agent.
Key takeaways:
- A flat fee MLS service gets your home listed on the MLS for a one-time fee.
- You’ll still need to handle pricing, marketing, showings, and negotiations on your own.
- While you save on the listing agent’s commission, FSBO homes often sell for less than agent-listed properties.
- If you need support, alternative options like a flat fee real estate agent or a discount broker may offer a balance between savings and guidance.
- A full-service real estate agent can help maximize your home’s value and handle the complexities of the sale.
If you’re unsure about FSBO, HomeLight can connect you with a top-performing agent in Nebraska to help you achieve the best possible outcome.
Editor’s note: This post is meant to be used for educational purposes. Links and mentions of Nebraska flat fee MLS companies in this post do not constitute an endorsement.
Header Image Source: (Curtis Adams / Pexels)
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