What is a FLAT FEE MLS Listings?
You may have seen flyers where a few Realtors advertise they will "list" your house/ condo at 1% commission or $1000 Flat Fee. You might think they will sell your house or condo for a total commission of 1% or $1000. If you are one of those who thinks it seems too good to be true. You are right. Let me explain.
When a Realtor advertises they will sell for 1% commission... that means their commission to "list" your house/condo is 1%. You are still required to pay another 2.5% commission to the "Buyer Agent" (the agent who brings the Buyer). So that means you do not pay 1% but 3.5% commission at the minimum. What should concern you as a seller is what services are you getting from the listing agent for their 1% commission.
What about the $1000 Flat Fee agents? Here you are expected to pay $1000 up front to have your property "just listed" on the Toronto MLS. Most Realtors do not provide any additional services, such as price negotiations, completing contracts, booking appointment, open houses, etc.
Let me ask you... after paying a few hundred dollars for your brokerage fees, plus transaction and brokerage commission splits, and adding your business expenses; how motivated would you be to help sell a house or condo if you only made $250 to $500?
Plus with a FLAT FEE Listing you still have to offer 2.5% commission for Buyer agents or they won't show your property and it won't sell.
Do We Offer a 1% or a FLAT FEE Listing?
Absolutely. But not to every seller. You must qualify. In addition, we do not believe in listing a house/ condo and leaving the home owner to fend for themselves, like a For Sale By Owner. We believe it is unprofessional. So we have a minimum standard of service that all our clients get. After all we want you to refer us to your friends, family and neighbours and we must provide exceptional service for you to do that.
When you choose our Flat FEE MLS listing package, you get our expertise to help you with negotiating and completing the legal contracts. Internet marketing, (social media, blogs, e-mail blast, newsletter) and you get the REMAX brand name "For Sale" sign working for you.
WHAT ARE THE QUALIFICATIONS for a FLAT FEE MLS Listing?
FLAT FEE MLS listings aren't for everyone. Many times you will need a full service MLS listing package and pay the 4%, 5% commission. Here is the basic criteria for our FLAT FEE MLS Listing.
1. You have to be a cooperative seller.
Cooperative sellers will listen to our advice and appreciate the current market conditions. They will price their property to market value and will do the necessary work to have their home show well.
2. You have to have a home in a great location.
Homes in prime location and in great condition are ideal candidates for a FLAT FEE MLS listings. If it costs us less to market your home to sell, we can pass on the savings to you. If you are in the GTA, then call me and get a no-obligation free assessment.
NEW CONDOS bought by Investors in great locations are PRIME qualifiers for a FLAT FEE MLS LISTING & SAVINGS.
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