Selling your property seems daunting, and the commission for a listing agent can eat away at your overall budget. Flat-fee listings, as opposed to the traditional commission method, can save you thousands of dollars and offer more flexibility and control. That’s why flat-fee house listings are the smart choice for sellers.
What Is a MLS?
A multiple listing service (MLS) is a database only accessible by licensed realtors. A MLS is a collection of more localized databases, such as the Midwest Real Estate Database, or MRED, one of the largest MLS databases in the country. MRED covers Cook, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will counties. After a listing is added to the MLS, the data is shared on Zillow, Realtor.com, Trulia, Google, and other standard websites and apps.
While 88% of home buyers use a real estate agent, that doesn’t mean they don’t use websites, mobile apps, and social media to assist in their home search. Multiple listing services are just one essential marketing tool in the real estate industry. The database connects buyers, their agents, and sellers to show a vast collection of homes, hoping just one checks all the boxes. All three of Prello’s MLS listing packages include listing in MRED, websites such as Realtor.com, Zillow, Trulia, and Redfin, and a yard sign. Our goal is to do more than simply list your property. Flat-fee listing is a significant first step.
What Is a Flat-Fee Listing?
The traditional method of selling your house requires hiring a listing agent who is paid on commission based on what your home sells for. That commission usually is 5%-6% – and then split with the buyer’s real estate agent – usually 2.5% – 3% of the commission. Selling your home for $280,000 would average $14,000 in commission. That can be a massive chunk of your overall budget for selling your home.
The budget can also include closing costs, preparing for open houses, marketing, and any repairs or fresh coats of paint. It all adds up. Selling your house can be costly. Sellers who want to save money by cutting out that commission could enjoy flat fee MLS listing. With a flat-fee listing, sellers pay to have their homes listed on the MLS and shared across various websites and applications. The only commission paid is to a buyer’s agent if they bring you your final buyer (and that’s usually around 2.5%). Flat-fee listings could cut that $14,000 in half down to $7,000.
When you want to list on a MLS for a flat fee, you can pay different flat fee amounts for different amenities. Amenities such as essential marketing, photography, yard signs, or a lockbox can be included, depending on the particular flat fee MLS package you choose. Prello Realty offers three service levels: MLS Basic, MLS Plus, and MLS Pro, depending on your needs. Flat-fee house listings are the smart choice for sellers looking to save money on commissions and sell their houses quickly.
Access to the Market
Since only licensed realtors can access the MLS, sellers need a MLS listing pro involved. Even if you plan on managing the sale yourself, paying the professionals for listing expands your access to the market. In 2022, looking online at properties for sale was the first step for 47% of recent buyers. If your home isn’t listed, that’s a considerable number of potential buyers you’re missing out on. Plus, only 10% of homes sold were for sale by owner (FSBO), and half of those sold were to someone the seller already knew. Trying to sell your house without a MLS only limits your reach. Your best buyer could be right there, just slightly out of reach. If you want to reach more potential buyers, paying for a flat fee MLS listing is the smart choice.
Saving Money, Keeping Control
A flat-fee listing can save you thousands of dollars just in commissions. Flat-fee realtors are pretty hands-off and therefore offer you, the seller, the most control over the listing, showing schedule, and communication with potential buyers. This all adds up to less risk of feeling forced to compromise, greater flexibility with the listing, and knowing you’ll get what you want out of selling your house.
Flat-fee house listings are the smart choice for sellers comfortable with handling a lot of the process or limited support. You might want to give up some control if you’re unprepared to take on communications, offers, open houses, negotiations, and legal paperwork. Our MLS listing packages offer different levels of agent involvement. Even if you want to do it mostly independently, Prello Realty can offer support and answer questions.
A Collaborative Relationship
Prello is a MLS listing pro. Unlike out-of-state, third-party, super-low-cost, amateur listing services, we don’t leave you hanging. Don’t just search “list on MLS flat fee” or “MLS listing pro.” Connecting with Prello Realty for flat-fee house listings is the smart choice for sellers. We’ll be on hand to accept offers and counteroffers and assist in negotiating and developing counteroffers.
Prello has been the leader in flat fee listings in Chicago and surrounding suburbs since 2001. We have full-time associates dedicated to the administration of our flat fee listings. A customer service representative is available seven days a week to answer your questions. We provide clients with many tools and documents that a traditional listing agent would use to help you market your home. We have the reputation and experience to help you sell fast and for the most money.
