Wednesday, Mar. 9, 2004

 

How flat-fee MLS benefits home sellers and buyers

With Total Choice Realty, Inc., Flat Fee MLS Listing Service home sellers are able to save at least 3 percent in traditional real estate commissions. For decades now the Multiple Listing Service, commonly known as the MLS, has been responsible for over 90 percent of all homes sold in Georgia. The MLS is essentially a member-only database of properties listed by individual real estate brokerage firms. They cooperatively work with other licensed brokers in the system to market properties.

In a traditional real estate transaction the commission of 6-7 percent of the sale price is typically divided between the listing and buying broker. If the commission is negotiated at 6 percent, the listing agent will receive 3 percent and the buying agent will receive 3 percent at closing. A $200,000 property will yield as much as $12,000 in real estate commissions.

A few years ago, Total Choice Realty, Inc., began to offer a Flat Fee MLS Listing Service to sellers. Essentially, it does away with the listing agent and their customary 3 percent listing fee for representing and marketing a seller’s property.

The seller now has access to the Multiple Listing Service by virtue of paying a flat fee instead of a full 6 percent commission and is allowed to carry on the sale of his or her own home and the option to pay only 3 percent to an agent who produces a qualified buyer.

Total Choice Realty, Inc., Flat Fee Listing Program not only offer access to local MLS systems which includes the GAMLS and FMLS systems but also to the high traffic Realtor.com site. With 85 percent of homebuyers now using the Internet to look for homes, it makes sense to have as much online exposure as possible.

"Our goal," said Carolyn West, broker/owner of Total Choice Realty, Inc., "is to help the sellers SAVE thousands of dollars in real estate commission while getting their home SOLD at a reasonable cost." 

Unlike traditional real estate, the sellers reserve the right to sell their home themselves, and if they sell their property to a buyer who is not using the services of an agent they pay no commission.

For more information contact us at 770-716-5009 or visit www.GaforSaleByOwner.com.