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No one likes wasting their hard-earned money.

There are a few ways that you can go about selling your house, but without understanding the differences between your various listing options, you could end up spending tens of thousands of dollars more than you need to.

But what is the best listing option? What’s the difference between them? Which option will allow you to sell your home quickly, without spending a small fortune just managing the sale?

Let’s talk about your options.

What is a Flat Fee MLS Listing?

The Multiple Listing Service (MLS) is an extremely important online resource that real estate agents use to post new listings, as well as search for properties for their clients. Without a listing on MLS, a large portion of buyers and agents may not ever even see your home is up for sale.

A flat fee MLS listing does exactly that – it allows you to post your listings on your local Multiple Listing Service (MLS); something that requires an agent to access.

When you’re selling your home yourself as a ‘For Sale by Owner’ listing, you can’t make new listings on the MLS on your own. Only agents can utilize it. Because of this, you’ll need an MLS listing service like Reeve in order to access this important platform.

What Does It Mean to Use an Agent?

This is the way that most people envision when they first start thinking about selling their home. They hire a real estate agent that takes care of the whole sale for them.

The agent will instruct the homeowner what needs to be done (i.e., appraisals, renovations, etc.), list their home on the local MLS service, and then help schedule, promote, and run the open house showings.

They’ll then assist with negotiations and contract writing, all the way through till the end of the closing process.

What Does a Traditional Real Estate Agent Charge?

Most commonly, a traditional realtor will charge you approximately 5-6% of the total sale amount for your home. This means that if you’re selling your home for $600,000 and your agent is only charging a 5% commission (which is low), they would be entitled to a commission of $30,000.

For homeowners that spent years building equity in their homes, this can be an unpleasant source of loss for their home investment.

What Does ‘For Sale by Owner’ Mean?

‘For Sale by Owner’ means exactly what it says – the homeowner is selling their home on their own, without the assistance of a realtor.

This means that the home CAN’T be listed on the local MLS, as there is no agent representative. Only agents can list properties on the MLS.

Without listing on the MLS, the home listing will receive substantially less visibility than other listings, which makes it much harder to reach potential buyers.

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What Does a ‘For Sale by Owner’ Cost?

Technically, there is no agent fee if you don’t use any agent representation.

What is a Flat Fee MLS Listing?

A flat fee MLS listing involves using an MLS listing service, like Reeve, as a representative. This allows ‘For Sale by Owner’ (FSBO) listings to be able to be posted on the local MLS, without paying expensive commission fees associated with a traditional realtor.

A flat fee MLS listing still requires a (much smaller) fee to use, but it won’t fluctuate based on the final sale price of the property.

What Does a Flat Fee MLS Listing Cost?

This really depends on the flat fee MLS listing service that the homeowner chooses to use. Some can still cost a substantial amount of money to be able to use.

With Reeve, there are two useful options at your disposal:

If you choose the basic package, you’ll still be able to list on your local MLS service, but you’ll be completely in control of the set-up and sale of your home. Reeve will be there along the way to provide guidance and direction as needed, but you’ll be one in charge of your sale. Think of it like a ‘For Sale by Owner’ with backup available when needed.

Should you choose the premium package, you’ll pay a flat fee of $3,000, but in exchange, Reeve will manage virtually every aspect of your sale from listing to negotiations, contracts to closing. We’ll even help arrange and promote your open houses, you’ll just need to be there on the day of to run the event (and provide the snacks).

Using the example that we discussed above for a $600,000 home sold by a traditional realtor, Reeve charges only 10% of what a real estate agent would (less if their percentage is closer to 6%). That’s a very substantial savings; especially when the homeowner can still access virtually all of the same services.

And unlike agents, the flat fee system that Reeve uses means that your fees always stay the same, even if you’re selling properties of varying values.

Let Reeve Make Selling Your Home Quick & Easy

List Fast, Sell Faster, Save Thousands

Not only does using Reeve as your flat fee MLS service save you thousands of dollars and give you access to your local MLS, without the need for expensive real estate agents, but we’ll automatically post your listing on Zillow, Realtor.com, Redfin, Trulia, and 750+ more major platforms.
We’re taking the stress and some of the expense out of listing your home, so that you can use that extra cash on the things that really matter to you. No one wants to buy their agent a new car when they’re trying to sell their home, so why would you pay such enormous commissions?
Let us show you how easy listing your home can be with the magic of Reeve, so you can focus on the next stage of your life’s journey.

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