Wednesday, May 24, 2006

Flat Fee listings and how they work

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!!

check out my website

Laura Ludwig
Lauralei Properties

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