Thinking of selling your home? Are you unwilling to pay hefty commission fees to real estate agents, and yet, doubtful of your ability to go the For Sale By Owner (FSBO) route? Say goodbye to all your worries because we are here to talk about the perfect option for you – flat fee MLS listing services in Illinois! Flat fee MLS offers you the best of both worlds – an experienced real estate agent who can oversee the sale of your property in exchange for a fixed charge while you retain all the advantages of an FSBO sale and save megabucks on commission fees.
What is Flat Fee MLS Listing?
As the name implies, flat fee MLS listing is a practice in the real estate industry where a seller enters into an ‘a la carte agreement’ with a real estate agent who accepts a flat fee instead of a percentage commission, for listing his property on the MLS. Multiple Listing Service or MLS is a local database that contains all information pertaining to a property for sale. All potential buyers, other real estate agents, as well as local and national online companies, check the local MLS for homes that are on the market. Therefore, it is very important that you list your property on the local MLS so that your potential buyer base remains wide. After all, the greater the number of people who show interest in your home, the faster you will be able to sell it. Another important benefit of listing on the MLS is that it will automatically post your property’s description and its details on other popular real estate websites like Realtor.com and Redfin which will only pull information from the MLS.
Flat fee MLS listing service is considered ‘entry only’ as opposed to the ‘full service’ offered by real estate agents working on a percentage commission. However, some of the best flat fee MLS companies in Illinois offer additional services as well, for no extra cost.
What are the Perks of Flat Fee MLS Listing Services?
Save on commission costs: the main benefit of flat fee MLS Illinois is that you save on the commission you will otherwise have had to pay the listing agent which would generally be around 3% of the final sale price of your home. This is a hefty amount when compared to the pre-fixed flat fee you will be paying when using the flat fee MLS service.
Access to MLS listing services: Many flat fee MLS listing companies in Illinois will give you access to your online listing so that you can enter all the details of your house yourself like the description and location, and upload photographs as well. After all, who can describe your home better than yourself? However, if you do not feel confident in doing this yourself, you can also choose flat fee MLS companies in Illinois that offer these services in addition to the listing service.
FSBO listing tools: you can also gain access to listing tools like MLS key boxes, flyers, and documentation assistance in addition to listing your property on the MLS
Market analysis: perhaps the greatest challenge for an FSBO home is the lack of experience of the average homeowner in doing market analysis. The best flat fee MLS companies in Illinois provide market analysis as part of their ‘entry only’ service.
Set a listing price: setting a proper price for your home plays a major role in being able to sell it quickly. The price of your home should be determined by its location as much as its special features. An experienced real estate agent will be able to help you set the best listing price for your home, in flat fee MLS listing services.
Reduce unforeseen expenditure: nobody likes to meet unforeseen expenditures, especially large ones connected with selling your property. In flat fee MLS listings, the charge that you pay a realtor is fixed and does not depend on market fluctuations like in the case of a traditional agent who works on a percentage commission.
How to Choose the Best Flat Fee MLS Listing Company?
Before choosing the flat fee MLS company that you want to assist in selling your home, you must make sure that they are the best ones for the job. The first thing to verify is whether they have an active and updated webpage for your state. Make sure their agents are members of the appropriate MLS for your area. You can also read about the feedback for their services from previous customers online. Check whether they are actively marketing current listings on their website. If they are considered the best in the business in your locality, that would be a definite plus.
Which are the best flat fee MLS companies in Illinois?
Mentor Listing is considered one of the top flat fee MLS companies in Illinois. Their processes are very simple and you can add as many open houses as you want to your listing with no extra cost. Inexperienced sellers who need all the help they can get but do not wish to spend hefty sums on commission should choose Prello Realty Flat Fee MLS Listing services. On the other hand, Beycome is perfect for those tech-savvy sellers who wish to manage their listing including uploading photographs and negotiating a final deal from an online platform. Flat Fee Realty offers affordable listings to budget-conscious sellers with all the disclosures that you will need. If you are looking for a lot of a la carte options, Houzeo is your best option. You can also fill out all the seller’s paperwork on their app.
When considering going the flat fee MLS route in Illinois, you can also consider working with small companies that specialize only in particular cities. Their flexible service packages and experience of the locality might serve your needs better than big companies with a nationwide presence.
Read also: First-Time Homebuyer Chicago: 5 Essential Tips