How Commissions Work
As a seller, your home is listed in the Multiple Listing Service (MLS) by a participating member of the MLS (like FlatFeeMLSListing.com and our affiliates). Your listing includes a color photo, detailed information about your home (bedrooms, square feet, and much more), and the cooperative commission being offered to the agent helping the buyer. You choose what commission amount you wish to offer. The recommended commission amount is on average 3%, but it can vary from 2%-3.5% depending on local market conditions.
Agents that are working with buyers check the MLS many times a day looking for homes in a particular area, price range, and amenities. The MLS sorts the homes and shows only the homes that meet the buyers criteria.
How MLS Works with Commissions
The agent will then show your home at the scheduled time and contact you if the buyer has questions or wishes to make an offer. Should you choose to accept an offer from that buyer, you will pay the commission amount you have listed in the MLS. The commission amount is listed in the MLS, so it is not generally negotiated in the transaction. Often, the commission is not even discussed by the agent.
If you accept an offer from a buyer without an agent, you do not pay any percentage commission. You are not required to accept any offers. You are free to advertise your home in newspapers, other places, and hold open houses if you wish. (Consult local MLS rules for specific information).
Sell As Fast As Full Priced Agent Listed Homes
This listing process is the same regardless of whether you list your home with us or a full priced real estate agent. Because of the cooperating commission you are offering, your listing looks the same as other homes for sale listed by full priced agents. Agents are just as motivated to sell your home as any other home for sale. Nearly every local real estate company participates in the MLS, so an MLS listing puts thousands of agents to work on selling your home.
Saving on Commission Saves You Money!
What this boils down to is that our average customer walks away from their closing with a check that is $8,072 more than it would have been had they used a traditional agent! Read more about how much money our average customers save.