I used a flat fee firm to get into the MLS and paid approx $500 for the MLS part but also agreed to pay 3% of sales price to any realtor that brought a buyer - since it is the realtors that use MLS and then bring buyers to look.

In my case, I placed my own sign, and did my own showings for the folks that did not have an agent. My MLS listing agreement specified I only pay the 3% if I sell via an agent that brings the buyer. In my case, I sold to someone else, so didn't have the pay the 3% fee.

For your situation, if you don't agree to pay a fee (either 2%, 2.5%, 3%) to the buyer's agent , then the agents simply will not show the home to their buyers. You will then be stuck with a smaller buyer's pool - only the ones that contact your flat-rate firm directly.

I found that if you offer too small amt to a buyer's agent, they will not show the home and will steer their buyers elsewhere.

Please note the MLS is still officially a realtor's tool - and realtor's find homes for their clients via the MLS and then bring their buyers to look - but the realtors get a commission for this - normally approx 3%. The other 3% (in a typical 6% full service listing goes toward the listing agent.

When you go into the MLS, it is usually only the listing agent's fee that you save money on. Any attempt to save too much money on the buyer's agent fee will result in buyer's agents boycotting your property because they can't earn enough money on it.

This really depends on your situation. If you have an average home in an average neighborhood, you will probably get decent results just getting your house up on the MLS. Of course, they still need to do some basics well. After all, they won't be a "bargain" if they put up some mediocre pictures and plain vanilla descriptions. On the flip side, if you have a really unique situation or property, you need someone to really help you market it.

I used a flat fee listing for a sale a year ago and it went fine. It was $500 "bare bones" service like sweet_tea mentioned.

However, keep in mind that 6% compared to $1,995 isn't an apples-to-apples comparison. You still need to pay the buyers agent 2-3% (we paid 2.5%). So, assuming you pay 3% to a buyers agent, if you have a 100k house, that is 3k + $1,995 = $5k total instead of $6k. Not a lot of difference.

We used a flatfeelisting.com for a vacation home we sold (which was 5 hours away). It was $349.00. We also agree to pay a buyer's agent their 3%. That got us listed on the MLS & a sign (which we put out), and a webpage with pictures. I also did up flyers which we put in a tube on the sign. You can pay extra to get an MLS approved lock box. We already had a combo lock on the door, so we just used that.

If anyone called us directly about the house, we would recommend they get a buyers agent, as any local realtor could show them the house. Once a couple realtors called, I would refer callers to them. I only had one complaint. It was a very rude man telling me he was sitting in the driveway and wanted to see the house NOW and did not want to call a realtor. Oh well...

My only complaint about the process is not related to the service. The house was owned by 6 of us, and it was agreed in the beginning that 3 others would take turns answering the calls because I had just started a new job. But somehow it all ended up on me.

I used a flat fee realtor too..unded up selling it to someone without an agent, so I paid NO Realtor fees...YEA! I love the flat fee concept. Let's face it, the house has to be priced right and then the MLS and the internet sells it. There certainly is a bit more work upfront (prepping the flyers, etc) but I saved 16k. The hardest part of selling a house is cleaning for the showings and getting out of the house for the showings anyway, which you still have to do if you are listed with a realtor. You can usually negotiate the $500 fee too. I paid 350. I echo the statement that you need to offer the full 3% or realtors boycott your property. good luck. Price it right from the start.

I'm hopping in on this thread too... We are going to be listing in the near future. I am not sure exactly sure when, we want to move around May/June. When we sold last time we were able to get the fee down to 6% instead of the usual 7% in this area, and we sold the house in 6 days (3 years ago) I watch all the HGTV shows on how to get the house sold, put a lot of work into having my house show ready, and made fresh cookies just before every showing :) (I kept a batch of ready made cookie dough in the fridge to be ready in a few minutes notice)

This house should hopefully sell for around $230,000. I have found several flat fee listing companies in the area, they are about $500 for getting on the MLS, up to about $1000 if you want multiple pictures on Realtor.com etc...

So this is looking like a good idea to me, and I agree, it would make sense to offer the buyer's realtor some commission too.

My concerns are... what do we have to do that a listing agent usually would? I have no problem doing the showings (if they have no buyer's agent), writing the ad, taking the pictures, setting the price, writing the disclosure forms, and the other things. But I am concerned about what happens AFTER the deal is accepted. What services would I be doing that a realtor usually takes care of?

In our case, if we sold at $230,000 and I am able to get a realtor to do 6%, their commission would be $13,800. If I went with the $1000 listing service, paid the buyer's realtor 3% $6900, and any other incidentals (lawyers services, etc...) we may be talking about $5000, which is worth my time and effort, but I want to know what I am getting myself into.

"My concerns are... what do we have to do that a listing agent usually would? I have no problem doing the showings (if they have no buyer's agent), writing the ad, taking the pictures, setting the price, writing the disclosure forms, and the other things. But I am concerned about what happens AFTER the deal is accepted. What services would I be doing that a realtor usually takes care of? "

Easy Peasy..spend $300 and hire attorney. Mine is taking care of all of that. Also, realtors are hurting for business right now, I had a couple offer to handle just that part for $150.00 but decided I wanted an attorney.