Flat fee mls works because there are two real estate agents involved in the sale of almost every house: the "listing agent" who works with the Seller, and the "buyer's agent" who works with the Buyer.
1. Listing Agent tasks include putting home in MLS, a sign, help with contracts....
Buyer's agent searches MLS for homes that match Buyer's wishes, takes Buyers to see homes and prepare offer and assist with negotiations
On a $200,000 house, the Seller typically pays 6% commission ($15,000) which is split evenly, with the "listing agent" getting $7500 and the "buyer's agent" getting the remaining $7500
A flat fee listing eliminates the $7500 that goes to the "Listing Agent" and replaces it with a "flat" fee of $195 - $495
This is a SAVINGS of thou$and$ of dollars
PLUS you can still sell your house yourself if you find the buyer and pay NO commission!!
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