Pros and Cons of a Flat Fee MLS Listing

What’s a flat fee MLS |  Benefits and Warning |  Mythbusters | Best MLS Flat Fee Listing | Top 3 Flat Fee MLS Services in Florida | Conclusion

💡Note from the author: It is our policy to refrain fro making any comparative statements about our competitors as numerous companies are providing similar services. The selection of a service provider is ultimately the consumer’s decision, who should carefully evaluate the options and select the one that best meets their needs and with whom they have the most trust.

Let’s Start with the Basics:

💡What is a Multiple Listing Service (MLS)?💡:

The MLS (Multiple Listing Service) is a property database maintained by local real estate agents and boards in specific local areas. Only a licensed real estate agents and brokers who pay an access fee have access to the, as it provides the best valuable tool for promoting their sellers’ properties and finding properties for their buyers.

The MLS includes detailed information about each property, such as photos, contact information for the listing agent, a description, the price, and other essential details. 

Many popular real estates websites, such as Zillow, Trulia, Realtor.com, Redfin, and Coldwell Banker, obtain their listings directly from local MLS databases.

💰Benefits and 🚩Warning:

The primary benefit of a flat fee MLS listing is the potential to save on the ‘So” traditional commission fees, the famous 6%. By opting for a flat fee listing service such as beycome, you pay a fixed price of $99 for the listing broker commission, regardless of whether a buyer comes to you directly or through an agent. 

If you choose to offer a commission to the buyer’s agent, this will be the only commission fee you need to pay. If the buyer is unrepresented, you can save the entire 6% commission fee and only pay the flat fee for listing your property.

At beycome, we will always double-check with your closing agent to ensure that there are no extra commissions to pay before the sale is completed. If you’re working with a direct buyer, the only fee you’ll pay to beycome or any other broker is the flat fee of $99 for our customers.

⚡Real Estate Mythbusters⚡:

It’s crucial to be aware of false or deceptive information in the real estate sector, as it can affect your decision-making when selling a property. The notion that FSBO properties sell for 26% less than those sold with a real estate agent may not be based on factual data. Misinterpretation of information can lead to the spread of misinformation.

As an example, we found on a platform that share their data publicly that the average closing price was at $422k in 2022, and the listing-to-closing ratio (the difference between your listing price and closing price) at 99.8%. 

Working with an agent, on average, will cost you 6%, resulting in a listing-to-closing ratio of 94%.

There is no guarantee that an FSBO property will sell for less than a property listed with a real estate agent. You have more chance to generate better revenue on an FSBO flat fee MLS than with an agent by avoiding the common 6% commission.

It is also worth noting that the FSBO flat fee MLS is considered a full brokerage deal as the listing agent is licensed. Not reported as an FSBO transaction on the industry data…

Every real estate transaction is unique, and the outcome can be influenced by various factors such as location, market conditions, pricing, strategies, and negotiations.

Pros and Cons

Always do your research: nobody and non-company are perfect: A platform with only good reviews need to alert you, also, if there are more reviews than customers… Finally, free can be highly… expensive! 

This article is not meant to criticize any providers, just to help you make an informed decision. If you do your research, you’ll likely find that these companies try to make up for their “free” listing by charging you in other ways. Always.

Do your research and be aware of any potential hidden fees or problems arising from choosing the wrong provider.

🧡Pros:

Having more control over the process

Let’s be clear, a good flat fee MLS listing is the perfect choice for homeowners who want more control over the sale process. 

Some flat fee platforms, such as beycome.com or Homecoin, offer you complete flexibility during the process: You can decide ( with some advice) how your listing is presented, including the listing description, the pictures, the price, and open houses. These platforms make you the perfect real estate agent for your property!

Huge Savings: Significant Savings: By using a flat fee MLS listing, you can save up to 6% in real estate commission fees, which translates to thousands of dollars in savings. For example, on average, beycome customers can save $12,000. If it’s your home and your equity, own it!

Using powerful technology, you can also update and control your listing whenever you want using your dashboard tool. This allows you to show your property on your schedule and respond to buyer requests quickly without having to go through a middleman. You can also hold as many open houses as you want, and open houses can bring you an extra 3% of potential buyers. 

⛔Cons:

If you don’t want to do the extra work, don’t list a property with a flat fee MLS company. Choose a good agent that going to handle everything for you. They are no mystery, Flat Fee MLS can make you save big, but it requires a little extra effort from your side.

Expect that specific point; like any others industry, all over the world, the only cons could come from some unscrupulous companies.

Non-directly licensed: Many Flat Fee companies don’t directly own a license, leaving you with an improperly listed property and no way ( or a long way) to make changes. 

Poor communication: It can occur with both flat fee MLS companies and traditional real estate agents. In some cases, you may find that your calls go unanswered or that you do not receive a response from either type of service provider.

How Much Does a Flat Fee MLS Listing Cost?

Most Flat fee companies charge anywhere from $99 to $1500 for a flat fee MLS listing, with the possibility of higher fees if additional services or a longer listing duration is desired.

For instance, the $99 package offered by beycome includes a 24 months MLS listing, unlimited photos, a suite of digital tools for scheduling showings and open house, and access to all the legal documents and negotiations. On the other hand, houzeo, based in New York, has a package priced at $299, which provides a 3-month MLS listing, up to 6 photos, and charges a $It is important to thoroughly comprehend the terms of your agreement with a $25 fee per change on your listing.

It is important to thoroughly comprehend the terms of your agreement with a flat fee MLS company to avoid unexpected fees. Don’t hesitate to ask questions and ensure you are fully informed before making a decision. 

How to Choose a Flat Fee MLS Service

When looking for an For sale by owner flat fee MLS realty service, it’s imperative to check several main factors to determine if it’s the right fit for you. 

To make an informed decision, make sure to ask the following questions:

• What is the cost of the listing fee?
• Are there any additional fees for updating the listing information or adding photos?
• Will your listing be listed on your local MLS database where your home is located?
• How long will the listing last, and is there a renewal fee or a cancellation fee?
• How many photos can you include in the listing?

Be mindful that not all flat-fee MLS services offer the same features or benefits, and some may have hidden fees or restrictions that are not immediately obvious. 

Therefore, make sure you fully understand the terms and conditions of your agreement before signing a listing agreement.

Our Top leaders 3 FSBO flat fee MLS:

🧡beycome.com Reviews: ⭐⭐⭐⭐⭐

At beycome, we are confident that we are the best provider of flat fee packages and, in general, offer superior services to our customers. We recognize that we are not perfect, but we make a concerted effort to be as close to perfect as possible. One of the significant distinctions that set us apart from our competitors is our transparency; we do not have any hidden, extra, covering, special, or other creative fees that most of our competitors create.

We found beycome because, as buyers and owners, we found it unacceptable that no alternatives existed for such an essential investment in our lives. We understand the position you are in, as we have been in that same position ourselves and still do.

💡Our Manifesto💡

 At Beycome, we firmly believe that property owners are the most suitable representatives for their real estate. To that end, we have developed a user-friendly digital platform that allows individuals to act as their agents, enabling them to buy or sell a home and navigate the associated processes without incurring commission fees.

Our advanced technology, combined with valuable input from our users, allows us to boast a successful property closure through our platform every 40 minutes. Additionally, Beycome offers a 90-day guarantee for those who do not close on a property, go under contract, or receive at least two legitimate offers.

Furthermore, we support our clients through the sale and purchase process by offering a 2/3 rebate on traditional buyer commission ( on average, 2% of the closing price) back where it belongs: in your pocket. 

We offer 3 premium packages, $99, $399, and 1%:

🏠 $99 Basic flat fee includes:

• Listing the property on the local MLS
• Unlimited pictures
• Unlimited support
• Your listing is Active until you close or if you decide to cancel
• All inquiries & leads directly forwarded to you
• Free open house scheduler
• Free unlimited updates and changes
• Free virtual tour
• No cancellation* or Hidden Fees
• Free Access to all legal forms & Disclosures
• Marketing Material
• 90-day money-back guarantee unless you close, are under contract, or receive at least two legitimate offers.
• Title Option for $199**
• Professional photographer in option for $189
• and so much more
• *Except Georgia MLS: This MLS requests a mandatory $25 cancelation fee.

🏠 $399 Enhanced flat fee includes:

⚡Includes the Basic package, plus:

•  25x professional HDR pictures with full ownership of the photos

• 1x personalized yard sign

• 1x open house package

• 1 x Keylockbox
• and so much more

🏠 $1% concierge package:

⚡Includes Enhanced package, plus:

Your dedicated 7/7 experienced personnel with Full negotiation and paperwork support, Home valuation service & pricing assistance with a dedicated Closing Coordinator.

• Comparative Market Analysis ( CMA)
• Full Immersive 3D tour
• Drone pictures (where available)
• Full Marketing Support
• Title Settlement fee
• All closing fees**

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Homecoin reviews:⭐⭐⭐⭐⭐

Homecoin operates similarly to other flat-fee MLS services, where individuals can select the services they desire, make an initial payment of $95, and have their property listed on the Multiple Listing Service (MLS).

However, Homecoin differentiates itself by providing clients with the ability to edit their MLS listing through the use of online tools, including the option to list their property directly from their mobile device.

The company places a significant emphasis on its software, ensuring that clients have complete access and up to 10 complimentary changes to their listings.

Additionally, Homecoin also offers a variety of additional services, such as comparable sales reports for free, lockbox rental for $125, photography for $219, signage for $69, flyers, an open house kit ( not available in Florida), an FSBO listing, and assistance with all forms and paperwork for an additional fee of $450 to $2999.

⚡Homecoin vs. beycome⚡

Flat Fee MLS Service	homecoin	beycome Basic
Price	$95	$99
MLS Access	✅	✅
100% Online	✅	✅
Listing period	12 months	Unlimited
Listing Update ( per change)	10 free	Unlimited & Free
Offers Directly to You	✅	✅
Offer Management	✅	✅
Number of pictures allowed	Maximum Allowed	Maximum Allowed
Professional Pictures	✅Optional $219	✅Optional $189
Flyers +  yard signage+ Open house	✅Optional $69	✅Free
Federal and States Disclosures	✅	✅
Showing Calendar	❌	✅
Open houses Kit	❌	✅
Lockbox	✅$125 rental	✅$29 buy
Offers platform	✅	✅
Minimum Commission due	$1	$1

Homecoin cover listing in California, Florida, Georgia, Michigan, Missouri, New York, North Carolina, South Carolina, Tennessee, Virginia, and Wisconsin.

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FlatFee.com Reviews:⭐⭐⭐⭐⭐

Flatfee.com is a very reputable and trusted discount brokerage services company, one of the historical market ( and maybe the inventor of this listing process) since 1999! if the company is not focused on technology, they offer sincere and quality services to help owners sell and rent their homes.

🧡flatfee offers listings of commercial properties.

🏠They offer 4 packages:

• $95: 6 months, 6 pictures
• $125:6 months, 12 pictures
• $145:6 months, 24 pictures
• $175:6 months, 24 pictures

⚡Flatfee vs. beycome⚡

Flat Fee MLS Service	Flatfee	beycome Basic
Price	$175	$99
MLS Access	✅	✅
100% Online	✅	✅
Listing period	6 months	Unlimited
Listing Update	Unlimited & Free	Unlimited & Free
Offers Directly to You	✅	✅
Offer Management	✅	✅
Number of pictures allowed	24	Maximum Allowed
Professional Pictures	❌	✅Optional $189
Flyers +  yard signage+ Open house	❌	✅Free
Federal and States Disclosures	❌	✅
Showing Calendar	❌	✅
Open houses Kit	❌	✅
Lockbox	❌	✅$29
Cancellation Fee	$25	$0
Offers platform	✅	✅
Minimum Commission due	$1	$1

Flatfee.com cover listing in Florida and Alabama

ListwithClever reviews:⭐⭐

Clever Real Estate is not a pure flat Fee company. Clever Real Estate is a national brokerage that pairs agents with consumers looking to buy or sell a home. Clever is a no-obligation service with no upfront costs* or hidden fees* for the users;

They essentially serve as a referral fee company, connecting home buyers and sellers to agents on their portfolios.  The company asserts that it connects prospective home buyers and sellers with its network of “Top local real estate agents” while offering discounted commission rates.

Specifically, listtwithClever offers a flat commission rate of 1.5% on listings of homes valued at over $200,000 with a minimum fee of $3,000.

Source Copyright Houzeo.com, Jan 23, 2023.

Additionally, the company extends commission rebates to home buyers, “Get Clever Cash Back™,” with the rebate amount being $250 or $500 if you sell and buy with them.

🧡Our top 3 Flat Fee MLS Services in Florida:

1. beycome
2. HomeCoin
3. Flatfee.com

Conclusion:

If you prefer to avoid the extra work involved in listing a property with a flat fee MLS company, it may be a better option to work with a ( GOOD) real estate agent who can handle everything for you. 

However, it’s important to note that listing with a flat fee MLS company can save you a significant amount of money, it can require some additional effort on your part. 

If you are willing and ready to invest this extra little the time and effort for sale by owner flat fee MLS is the cost-effective option for selling your property. 

Ultimately, choosing a flat fee MLS company and a traditional real estate agent will depend on your personal preferences and comfort level with the selling process.