Flat Fee Listing in the real estate industry where a seller enters into a listing agreement with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer's broker is still typically offered a percentage though that could be a flat fee as well. A discount Michigan REALTOR® flat fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and list the property for sale in the local multiple listing service (MLS) a la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction and showing accompaniment. Flat Fee brokers are real estate brokers, just like the national brand names, but offer discounted or unbundled services. Most flat fee brokers do offer full service brokerage services. Many flat fee brokers are limited service brokers but we offer full service brokerage as well.
List on the MLS for a low flat fee and save thousands in real estate commission. Flat Fee Listing works because you are getting the exact same product of listing on the MULTIPLE LISTING SERVICE as with any agent but you are saving a ton of money.
Some in the industry call us limited service brokers or agents, but that is only if you choose that level of service. We are full service brokers, if you choose. We offer a la carte services. We do not compromise the service. You are listing direct with a local broker.
There are many sites on the internet that are referral sites. This means, they get your order for a listing, then bid it out for the lowest bidding agent. Some agents are willing to work very cheap to get a listing, with hopes of getting buyer leads from that listing, so they can make a 3% buyer agent commission. We do not do that, you are listing directly with your listing agent.
National Flat Fee Association™ of Michigan is part of a national association of real estate brokers. We provide, full service, limited service, entry only brokers or discounted real estate services. Each state is independently owned and operated.
In the by owner MLS ®, the listing agreement between the real estate broker and the property owner typically requires the broker to enter the property into the MLS and provide other contracted services, with the broker acting as what the traditional industry has coined a "limited service broker". However, the flat fee MLS industry prefers the term a la carte broker because the services are not limited. Instead freedom of choice is expanded to allow sellers to pick from a menu of services.
Within the nontraditional real estate services market, there are multiple programs offered to sellers that share the common objective of saving the consumer money by reducing the overall expense of selling real estate. A "nontraditional service" does not automatically entail "limited service". For instance, some full-service brokers list properties under a full-service agreement but charge a "flat rate" that is not a percentage of the sales price.
For Sale By Owner MLS ( Multiple Listing Service in) is not different from traditional , Michigan real estate brokerage services. Because the MLS requires a listing agreement between a real estate broker and property owner, the rapid explosion of discount flat fee service providers has created a gap in the States developing laws governing flat fee services provided by real estate broker.
The main differences flat fee Michigan Multiple Listing Service and traditional services, flat fee allows the seller to sell as a for sale by owner in and not pay a commission. With traditional commissioned real estate agents, if you sell your own property, you will own the agent a high commission. Flat fee listing allows the customer to sell as a Michigan By Owner and with an agent, having the best of both worlds.
You are not a for sale by owner FSBO on the MLS, you are listed with an agent but still have the option to sell your own property without paying a buyer agent commission. We are a discount real estate broker from the normal 6% commission.
You cannot list on the MLS without an agent. You must be a licensed agent with the state and join the local REALTOR® MLS board in Michigan. The only option you have is to list on the MLS for a flat fee. This applies to every state .