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How To List Your Property For Sale By Owner

A Tutorial for For Sale By Owner Sellers

In a real estate transaction, there are typically two brokers; a Listing Broker also known as the Seller's Broker and a Selling Broker also know as a Buyer's Broker*. Typically the Seller offers the total commission to the Listing Broker with an understanding that the Listing Broker will share a portion (split it) with cooperating broker. That split may not always be 50:50. Sometimes the Listing broker will keep more than half and Sometimes the Listing Broker will keep less than half.

The vast majority of listings range from 5%-6% with the Listing Broker and Selling Broker each keeping half or 2˝% to 3% respectively. The Selling Broker brings the buyer to the table so it's important to make your MLS Listing attractive to Brokers that are working with Buyers. As such, we don't recommend a far deviation from the mean commission for Selling Brokers. However, Listing Broker's commission's are fair game to negotiate down without negative marketability. A lower Listing Broker's commission is not likely to have any effect on Buyers' Brokers.

1 Á LA CARTE LISTINGS
Many brokers are willing to work ŕ la carte. An ŕ la carte listing is one where a seller picks the services he/she wants and is not forced to take full service. An analogy might be a Chevrolet where you can start out with a base model at a reduced price and pick the options you want vs. a Cadillac where all the bells and whistles come standard. With the Chevy, you can save money on options not wanted or needed. Specifically, since 80% of homes are sold through MLS and it's one of a broker's least expensive tools, forsaking some of the other services can save you a fortune. So listing ŕ la carte is a quick way to lower your brokerage fee.
2 NON-CONTINGENT FEE STRUCTURES
Real Estate typically has a contingent fee structure; you only pay a fee contingent on a sale and if the property does not sell you pay nothing. Only, the successes pay for the failures. Nobody works for free. So when a house does not sell, the Broker has to earn his/her keep elsewhere which is the listings that sell. So it stands to reason that if a Seller just took the risk and agreed to pay regardless of success, the Seller would save money when a sale occurs because he/she would not be paying a fee that was averaged across the successes and failures.
3 FLAT FEES
A REALTOR® does not work harder or invest significantly more into listing a $3 million dollar house vs. a $300,000 house yet the fee is much higher when you pay a percentage of the sale price. There is nothing wrong with asking your REALTOR® accept a Flat Fee for your MLS Listing
.

Now combine what's been illustrated in #1, #2 and #3 and you have Flat Fee MLS. The Perfect Model for Selling Real Estate.

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