The Multiple Listing Service (MLS) is a repository of every property for sale listed exclusively by Realtor Brokers. Listings are shared by all agents. Over 90% of sold properties are listed in the Capital Region MLS.
Once the listing is posted on the Capital District MLS it receives the same exposure as full commission MLS listings. The main difference is the owner acts as their own listing agent and does not pay a listing broker at closing (typically 3.5% to 7%). If a licensed Buyer Broker brings an acceptable buyer the owner pays them an agreed-upon commission (typically 2-3% set by owner). If the owner sells without the aid of a Buyer Broker no further fees are payable. More Questions and Answers about Flat Fee MLS Listings
Here at Real Estate New York, our all-inclusive package is $500. Other flat fee mls listing near me agencies charge more for the same services on a sliding scale with a teaser rate starting as low as $100 up to a comparable premium package of $1,000 or more. Real Estate New York has been doing Capital Region Flat Fee MLS listing successfully for decades. We know what you need to get the job done and what you don’t. Testimonials provided on request.
The flat fee is due before the listing is submitted to the Capital Region MLS. If a Buyer Broker commission is due it is paid at closing as an agreed percentage of the sales price (typically 2-3% set by owner) Recommendations provided on request.
Yes, if the listing is entered into the MLS by a licensed New York State Flat Fee real estate agent.
Yes, especially in a sellers’ market where all an agent has to do to sell the property is enter it into the Capital District MLS to receive a full listing commission (typically 3.5-7% determined by agreement with the listing broker)
With Real Estate New York the Flat Fee can be credited to a standard listing where the owner has the full services of a licensed and experienced agent. Flat Fee listing can be canceled at any time without additional cost but the initial $500 fee is non-refundable after the listing is published on the MLS.
The average sale price in the Capital Region is about $330,000 (Aug 2021). A typical commission is 6% to 7% or $19,000 to $23,000--a great deal of money to be left on the closing table especially when the main benefit of having an agent control the sale is the same MLS listing we offer for $500. Even if a Buyer Broker brings the buyer their commission (typically $6,000 to $8,000) still results in significant savings (typically $13,000 to $15,000). To save the Buyer Broker commission see the next question.
Once the listing is posted on the Capital District MLS it receives the same exposure as full commission MLS listings. The main difference is the owner acts as their own listing agent and does not pay a listing broker at closing (typically 3.5% to 7%). If a licensed Buyer Broker brings an acceptable buyer the owner pays them an agreed-upon commission (typically 2-3% set by owner). If the owner sells without the aid of a Buyer Broker no further fees are payable.
If an owner sells without the aid of a Buyer Broker no further commission is due potentially saving thousands of dollars. A website sends buyers directly to the owner and can be used in all promotions.
Agents will call the owner directly or Real Estate New York will arrange for our showing desk to facilitate appointments according to the owner’s instructions. A lockbox may be provided by the owner or an electronic lockbox lent to the owner by us.
Pro: Potential savings of thousands.
Pro: Total control of the marketing and sale
Pro: Not locked into broker terms and conditions such as severe penalties for cancellation
Pro: The listing fee remains the same $500 no matter how much you sell for.
Con: Requires solid effort and sound judgment
For owners that intend to sell on their own without the aid of a Buyer Broker a standard For Sale by Owner sign is recommended. If the owner wishes to encourage Buyer Brokers, we will provide a Real Estate New York step-in sign
Yes, if you are prepared to take on the duties of a listing broker
Call or text Dennis today at 518-225-3424 (9am-9pm every day) or email Dennis@RENY.net for a free no obligation consultation and to work with you on your listing.
Benefits of Real Estate New York Flat Fee MLS Listing
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Your listing receives the same exposure as a full commissioned listing on the MLS. The difference is you act as your own listing broker so no listing broker’s commission is due at closing.
The website becomes the center of your marketing program to bring buyers directly to you. This saves the Buyer Broker commission. The website URL can be used in ads, linked on blogs and forums, YouTube and Facebook, etc.—even on your For Sale by Owner sign. SAMPLE
Your listing will be distributed to most NYS cooperative brokers and will appear on their company website.
Including: Zillow, Realtor.com, Timesunion.com, Trulia, Homes.com, AOLrealestate, Yahoorealestate, Realtytrac, Homefinder.com, (not responsible for syndicated content). SEE LIST
When a Buyer Broker brings a buyer at an acceptable price and terms you offer him or her Buyer Broker commission (typically between 2% to 3%)
If you sell to a buyer not provided by a Buyer Broker you pay no further commission.
No agent will try to tell you what your property is worth nor when or if it needs a price reduction.
While you know the best images to show your property in the best light most people are not professional photographers although listing brokers often hire professionals. We enhance up to 25 images to make them the best they can be even if taken with a smartphone. In addition, we will edit the videos you provide for use on your exclusive website.
Flat Fee MLS Brokers typically charge for any changes, such as price adjustments, made after the listing is published. We do not.
Flat Fee Brokers typically charge for photo changes. We do not. Up to 25 owner-provided photos published.
To facilitate appointments our showing desk will coordinate showings between you and the Buyer Broker. This assures that no showings are missed and assists in the logistics of the appointment process. This is especially important during the pandemic.
Provide a downloadable photo fact sheet to distribute at the property or on a sign box. This is important because it continues the promotion after the showing. Listing agents typically provide fact sheets. Your property should always be represented.
Standard generic contract forms are available to facilitate selling on your own.
No ifs, ands, or buts. Just contact us and the listing will be removed immediately for any reason.
If the listing is to be taken off the market temporarily it can be re-listed at no additional cost.
If the owner wishes to promote a sale by a Realtor Buyer Broker we will loan a step-in Real Estate New York sign &/or an electronic Lockbox if requested. If however, the owner wishes to promote a sale without the help of a Buyer Broker a standard For Sale by Owner sign and combination lockbox is recommended.
Standard Covid disclosure and procedure forms provided on request.
The Comparative Market Analysis is an important tool to help you decide on an offering price. The result is a range that indicates a likely market price. Of course, you have the sole right to list your property at any price you choose.
Listings are arbitrarily for 6 months but can be renewed indefinitely at no additional cost.
While the CMA is useful to set an initial offering price it relies mainly on sold listings. We are the only Flat Fee broker that provides email notification of competitive listings as they come on the market. Buyers are far more interested in what they can buy in their price range now than what has already been sold.