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Pros and cons of using a flat fee MLS listing service
Pros
The advantages of using a flat fee MLS company in your FSBO sale include:
- Eliminating the listing agent commission (typically 2.5% to 3%).
- Gaining control over your home sale without relying on an agent.
- Paying a set fee upfront, with no surprises.
- Getting your home listed on the MLS and syndicated to major real estate websites.
- Expanding exposure to traditional buyers and their agents.
Cons
The disadvantages of using a flat fee MLS listing service include:
- You’ll still need to offer a buyer’s agent commission.
- Handling negotiations, paperwork, and legal requirements on your own.
- No agent guidance, which could lead to costly mistakes.
- Increased risk of liability claims and legal issues.
- A potential lower sale price compared to working with a traditional agent.
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 get your FSBO home on the market:
- Vet the flat fee MLS service
Research local services, compare pricing, and read reviews. Check the company’s reputation on Better Business Bureau to ensure legitimacy. Find out what’s included, such as the number of listing photos allowed and available contract forms. - Register and select a plan
Sign up on the MLS company’s website, choose a package that fits your needs, and pay the upfront fee. - Enter your property information
Provide detailed property information and upload high-quality photos. If required, complete the necessary disclosures. - Read and sign your listing agreement
Review your listing contract carefully. Make sure you understand cancellation terms, fees, and whether you’ll owe any commission. - Review your live listing
Once submitted, your listing will go live on the MLS and may appear on major real estate websites. It can take a couple of days to populate, so double-check for accuracy.
A flat fee MLS service provides access to buyers, but you’ll still be responsible for handling inquiries, showings, and negotiations.
Are flat fee MLS listings effective in Pittsburgh?
A flat fee MLS listing can be an effective way to market your home in Pittsburgh. Most buyers start their home search online, and nearly all major real estate websites pull their listings from the local multiple listing service.
Buyer’s agents also rely on MLS data to find properties for their clients, making it one of the best ways to gain exposure. However, while an MLS listing can attract buyers, FSBO sellers must still handle pricing, marketing, negotiations, and paperwork to successfully close a sale.
Alternatives to flat fee MLS services in Pittsburgh:
If a flat fee MLS service doesn’t seem like the right fit, you have other options for selling your home.
Flat fee real estate agent
A flat fee real estate agent provides limited services for a fixed price, typically ranging from $3,000 to $5,000. This can be a good choice if you want more control over your sale but still need some professional guidance. Always review the listing contract to understand what’s included.
Discount brokers
A discount real estate broker charges a lower commission than traditional agents, often between 1% and 2%. While they provide some support, their services may be more limited. Sellers still need to cover the full buyer’s agent commission. Read about the pros and cons of low-commission agents before deciding.
Full-service real estate agent
Working with a local real estate agent provides full support throughout the sale process. A top agent can price your home competitively, market it effectively, and negotiate offers to help you achieve the best outcome. While commission fees apply, a skilled agent can often secure a higher sale price that offsets those costs.
Each option has trade-offs, so it’s important to consider your budget, time, and comfort level with the selling process before choosing the best route for your Pittsburgh home sale.
Will I save money with a flat fee MLS listing service?
While a flat fee MLS listing can reduce commission costs, it may not always lead to the highest net profit. Research from the National Association of Realtors shows that FSBO homes sell for nearly 14% less than agent-assisted sales. The median sale price of an FSBO home was just over $380,000, while homes sold with an agent had a median price of over $435,000.
Additionally, almost 40% of FSBO sellers sell to a friend or neighbor, often for a lower price. These transactions had a median sale price of around $345,000—nearly $100,000 less than agent-assisted sales. While a flat fee MLS service can help reduce costs, it’s important to weigh the potential trade-offs in sale price.
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