Are we getting blackballed by buyer agents since we did a flat fee mls
Mass Imo
8 years ago
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ncrealestateguy
8 years agoMass Imo
8 years agoRelated Discussions
Plug for using Flat fee MLS
Comments (14)"I would love to see a self-serve, fee-for-service industry where I could access online info that would help me analyze comps and come up with a price, photograph and list my property myself in its (non-monopoly) online listing. Any part of the process you could hire out (pro photographer, home stager, graphic designer, chaperone for people wanting to view your house, or whatever) or you could completely DIY. None of the above should cost thousands to do. " Ummm....isn't that what the OP was saying about flat-fee MLS? You can do this. Except: "help me analyze comps and come up with a price" Zillow will do that for free. As an REA, I will admit that it is more accurate than I care for (most of the time). Or: "list my property myself in its (non-monopoly) online listing" There are lots of sites that do this, just do a search for FSBO sites and you'll see lots. But if you want the most popular national site that thousands (? not sure, millions?) of licensed Realtors pay handsomely for (from commissions that they earned selling houses) and is probably the first site that buyers visit, then you'll have to go to MLS/Realtor.com I guess what I'm missing on this thread is where "most successful" = "monopoly" I mean, MLS isn't exactly operating like Microsoft - you do have a choice. (Yes, I know I can convert to Linux, which we've done, but a lot of specialized software only works on Windows, in fact, my local MLS only works on Microsoft Explorer - UGH!) Wish to go back to the days where you have to visit each Real Estate office in town (or each of their websites) to see each of their listings? (This is exactly how rentals work in Alameda right now and thank goodness it's a small town because it's exasperating.) MLS/Realtor.com allows us to cooperate. I know a lot of REAs resent it, but I think it's great that an ordinary person can now use MLS via flat fee. Unfortunately, it's not every ordinary person that can successfully sell their own home. I think most of the folks on this forum are "extraordinary" in their knowledge of buying and selling homes and stand a much better chance of success. If you read some REA forums (i.e. Active Rain) you'd find that there are a lot of ordinary folks who do need an REA. It's actually frightening how ignorant some buyers and sellers are about the process....See Moreflat fee mls vs. fsbo confused?
Comments (7)There are a couple points of common confusion here. What "the" Multiple Listing Service is can vary from place to place. In some areas it's owned by the National Association of Realtors and in others it's a private company, and in some places more than one Service is in popular use. These are strictly subscription-only to access, and you need to pay a fee and have a real estate license to get that subscription. (So if you want to access the MLS for different states, you need to pay more than one subscription fee and hold a license in more than one state.) This is not what people are talking about on this forum when they say they've browsed the MLS. Some advertising websites call themselves a "multiple listing service" because they show the properties for sale from "the" Multiple Listing Service, but they are not "the" Multiple Listing Service. "The" MLS is more of a database that also contains non-public information like special showing instructions, if a house is vacant, the type of contract the listing agent has with the sellers, what compensation is being offered to a buyer's agent, etc. It is to your benefit to get on "the" MLS, used by buyers' agents, if you want to attract larger numbers of buyers. Otherwise you are just on another real estate website that individual buyers may or may not see. That said, the flat-fee services are in fact Realtors offering you reduced services for a flat fee instead of all their services for a commission. Some of them just enter you on MLS, but others handle scheduling of showings, some amount of legal paperwork, or provide the use of lock boxes for you. What exactly they offer will differ with every such service and may differ from contract to contract. You *are* essentially still FSBO, doing most of the marketing on your own, but your contract with that realtor prevents you from signing up for the services of another realtor should you decide you've had enough of trying it on your own. "The" MLS's require an exclusive contract so that no two realtors will be listing the same property. I think kpfeif was just trying to make the point that you can't change over to using a realtor when you are in one of these flat-fee contracts. Beyond the extent that the flat-fee realtor is helping you, you are on your own. I hope that helps!...See MoreFlat Fee MLS--not an option
Comments (24)kats: that's a good point. I imagine that a number of realtors will contact me when they see the FSBO to try and get the listing. I can lay out my desire for a reduced-services contract and see if anyone bites. In my email-culling efforts, I found one agency that has a deal where if you buy with them you can sell your house for free (no commission). I'll be buying in a different area, so can't do that, but perhaps that means they're open to a flat-fee MLS type of deal. I'll give them a call too. NC: No offense taken (and none intended with my following remarks). I understand the MLS is a private association, and don't consider myself entitled to a discount (or any) listing. But our local MLS has decided to put rules in place that make it difficult/impossible for members to discount and/or offer more competitive and appealing to customers. I think the real estate industry for the most part has its head stuck in the sand about the need to change, and they're trying their darnedest to preserve their 6% model in the day and age where buyers and sellers could be brought together much less expensively. I wish they'd change. And I'm frustrated that those in the industry that are trying to change to satisfy customers better, are locked out of doing so. It MAY be legal. But Visa & Mastercard had a similar argument (we're a private organization with contracts with merchants, we can decide on whatever merchant fees we want and they can opt out) but the justice department eventually had something to say about that, because they're monopolies. In other news, we went to a couple open houses over the weekend, and one agent mentioned the low inventory right now as a problem (that bodes well for us). Of course, that could be like the car dealers that send you postcards saying "we really need your used car" when they mean "we want to sell you a new one."...See MoreFSBO-Do we have to co-op with buyers agent
Comments (16)Actually, if I as a buyer had to pay 3% to a buyer's agent for their services, I'd think long and hard about the cost/benefit, and I might not use one. Or I'd look for a few people to parcel out some of the work, like an attorney to write the contract, or someone to do the negotiation if I weren't comfortable with it, or whatever. (In what other industry is it cheaper to hire a lawyer to do the paperwork?) You guys are all talking as though it's just a given that every transaction has to have a 6% transfer to real estate agents, so all we need to do is figure out who pays for it. I'm talking about breaking that paradigm because I think that's way too high a transaction fee, and I would love for that system to become more efficient, letting both buyer and seller keep more money in their pockets instead of handing it over to layers of agents and brokers. One thing that keeps it perpetuating is that sellers pay buyers agents, so the buyers keep using the "free" service, so sellers continue to find it hard to sell without using the real estate industrial complex. Vicious cycle. I didn't mean to hijack this thread, or to start another debate on the topic. I'll crawl back in my shell again. Sorry....See MoreUser
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