FSBO MLS. Real Smart?

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Flat fee MLS services. The ones where you pay a company a flat fee and they put your home on the MLS. You still pay a buyers commission. You still have to show it and you still have to price it. Some sellers think this is a good way to save money. The problem is the flat fee company has no skin in the game. As a seller’s agent, a realtor works on commissions paid when the property sells. In this market, not every property sells. But the flat fee guys still get their money.

Last week, I saw one of these flat fee service places. A big place in a great location. Only $100,000 over priced. The sellers, who served a great lunch, were advised by the mls listing service and their attorney on how to price it. I feel sorry for the sellers. They need to sell. They are getting bad advice. They now have unrealistic expectations and its going to take some real pain before they see the light. Moreover, the place is a high end property which presents another set of challenges regarding financing. As professionals, we anticipate these issues and work to not just get an offer but to get it sold.

The times they are a changing….

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