So, you have decided to sell your home and move to another neighborhood. Hiring a realtor to help you find a seller means that you have to part with a commission. This usually accounts for 6% of the sales price. That’s a lot of money.
The good news is that you can opt for the flat fee listing service. Problem is finding the best flat fee Multiple Listing Service is not easy. To help you make the right decision, we have compiled 6 things you should take into account when finding flat fee listing firms.
Flat fee listing firms offer a wide a variety of pricing packages. You may come across lower priced packages which are quite attractive since you will end up saving but here is the problem. The services offered are bare boned. Low priced packages are perfect for homeowners who are experienced with selling via flat fee MLS.
For rookies, it is recommended that one should seek the services of a flat fee firm that offers full representation. For an additional payment, the broker can help to expedite the sale of your home and provide more services. In such a case, it might cost you close or a little more than 1.5%. Always go for value.
2. Read customer reviews
Every flat fee listing firm claims to be the best at what they do. As a homeowner, it is important to look past this and learn a little more about the flat fee service firm. The first place to look for customer reviews is Zillow. Majority of flat fee service firms have a profile on Zillow. Just use Zillow’s search function. Other platforms to check for customer reviews include Yelp, BBB, and Google Local business listing. Social media platforms such as Facebook and Twitter are also useful sources of customer reviews. Although you may find fewer reviews, it’s worth checking out. Don’t trust testimonials posted on the flat fee service website. Why? No flat fee service firm is going to say something bad about their company and services.
3. Background information
As a homeowner, it is always important to know more about the agent. Who are the founders of the company? How long has the flat fee listing firm been in business? What is the working experience of the agent? How many listings has the flat fee listing firm been able to complete? Knowing all these will place you in a better position of making the right decision.
During your search, you are bound to come across two types of flat fee listing services – small and larger firms. Smaller firms provide white glove services. Thanks to their manageable client base, they offer specialized services. When it comes to larger firms, they are able to respond to your requests 24/7. So, take your time to make the correct decision.
It is possible for a real estate agent to have a valid license in more than one state. This is possible thanks to reciprocity agreements. Two or more states can have such an agreement and they don’t have to border each other for instance New York has reciprocity agreements with the states of Colorado and Arkansas. Another option that allows multi-licensing is working under a sponsoring broker who is licensed to practice in the respective state. As a homeowner, you can benefit a lot by working with multi-licensed flat fee listing firms. Working with such firms means better rates, convenience, and services.
5. Active listing
One thing you ought to know is that the number of active listings does matter when selecting the best flat fee listing firm. Why? For starters, it helps to tell you the number of sales completed and probably those that will be completed in future. Secondly, it helps to measure the activity level of the flat fee listing firm. If you come across a large flat fee listing firm with the fewer listing, that is a red flag. The only exception in such a case is if the flat fee listing firm deals in up-market properties only.
6. Membership with Better Business Bureau
People are attracted to businesses that are fair and honest. If your firm has a BBB rating and membership, it will be easier for customers to trust your business. The Better Business Bureau is a leader in marketplace trust. Thanks to the benefits offered by their BBB rating, customers are confident when selecting a particular company. Next time you are in search of a flat fee services firm, make sure you check their BBB rating.