Flat Fee MLS Listing

www.BrokerDirectMLS.com is a national co-op advertising group of Flat Fee MLS Listing Brokers. This group of Flat Fee MLS Listing brokers has been in existence for about six years and was formed by five brokers. The founding brokers are Schaunon Winter-Gilman in Colorado, Jack McLemore in Texas, and Derek Eisenberg in New Jersey.  Richard Weber in California, and Jeff Kermath in Michigan came on board shortly thereafter.  Today it numbers 23 brokers in 40+ states. These brokers were ahead of the curve, basically putting Flat Fee MLS Listings on the map by creating the financial mechanism to purchase national advertising by local brokers. They had each worked for the traditional companies in the past, knew that a 6% commission was way too high to sell a home and they turned out to be right. Flat Fee MLS Listing has been a huge success and saved clients millions of dollars on commissions. www.BrokerDirectMLS.com is a time tested group of Flat Fee MLS Listing brokers. Their web site is easy to use, simply visit the site, then click on your state, and call your local broker with any questions you may have about listing your home.

This 6 year-old company based in Alpharetta, GA serves the entire metro Atlanta area and has licensed its business model to over 250 cities around the country, making them accessible for referrals.

They provide 70 points of marketing, including listing clients in both MLS & FMLS, the two statewide multiple listing services, giving in-home consultations, providing expert contract negotiations and conducting property showings for $500.

Buyer clients can earn a Buyer Cash Bonus up to ½ of their commission.

Duffy Realty is brokered by nationally known radio personality and consumer advocate, Rhonda Duffy.  Join Rhonda at www.RhondaDuffyBlog.com .

They cover Fulton, Cobb, Gwinnett, Dekalb, Forsyth, Cherokee, Clayton, Henry, Fayette, Rockdale, Douglas, Jackson, Carroll, Dawson counties.

Duffy Realty
Rhonda Duffy
License # 44692
10 Cumming St.
Alpharetta, GA 30004
Fax: 678-892-1180
Phone: 678-366-7846
Website: DuffyRealtyofAtlanta.com 
E-mail: Broker@DuffyRealtyofAtlanta.com

Apollo Properties covers the following Utah MLS systems: Wasatch Front Regional MLS for Central & Northern Utah Properties,  Park City MLS for Summit County Properties, Washington County MLS for Southern Utah Properties and  the Iron County MLS for Cedar City & Central Utah Properties. Since 1999′ Over 1800+ properties have been posted.  Flat Fee Service currently offered at $295. All Real Estate marketing tools are available.

Work directly with Lynn Fillmore, the Principal Broker, UTAH License # 5478881-PB
 
For more information contact:
www.UtahBroker.net
Town & Country Apollo Properties, LLC
1360 S. Carterville Rd, Orem UT  84097
(866) 824-1559 ext. 4

A flat fee listing broker based out of New Orleans, Louisiana and offering services in Arkansas, Louisiana, and Mississippi. Their flat fee mls services start at $349, and include exposure on “Realtor.Com, AOL, Wall Street Journal, MSN, Oodle, Trulia, and more.” The broker of record is Jude Thomas Smith who holds license Arkansas/Louisisana license #PB00059873 and Mississippi license #16056.

SharpMLS.com
818 SAINT PETER STREET
NEW ORLEANS, LA 70122
Office Phone: (888) 657-5833
Office Fax: (866) 466-8629

A flat fee mls broker based in Michigan City, Indiana that offers flat fee mls services starting at $399. They serve 41 Indiana counties and 10 Illinois counties and offer additional services including full representation in negotiations starting at 1%. The principal broker is Brian Waters, and for more information contact:

Mentor Listing Realty
Indiana License #PB20600128
Illinois License #075.0116156
Principal Broker: Brian Waters: (219) 472-4457
Toll Free: (866) 269-1006
Main: (219) 472-4277
Fax: (219) 861-1049

This company offers MLS packages starting at $349 for the state of Alabama. Upgrades include multiple photos, lockboxes, Multiple MLS areas.The Broker on record is Jeremy Jacobs. Licensed in Alabama (#84449-0)   For more information contact:  Amerisell Realty
www.mls449.com
2103 Florence Blvd.
Florence AL 35630
256-627-7168

CENTURY 21 Clickit is the largest and most successful real estate flat fee listing service in the state of North Carolina according to Real Trends.  They offer 6 month listings on local North Carolina MLS services for as little as $359.  Your listing would appear on Realtor.com as well as most of your local public real estate web sites where buyers shop for homes.  Other services available are the Traditional CENTURY 21 Yard Signs, Featured Tours, brochure boxes, lock boxes.  They are one of the few Flat Fee Listing services actually licensed in the state of North Carolina with memberships in The North Carolina Association of Realtors and over 20 different local Realtor Associations MLS’s. License number C13524, 216309.

The website is www.century21clickit.com or call -1-888-875-4218

Broker Direct Company is Colorado premier Flat Fee MLS Listing firm.   Their prices start at $299 for MLS listings and they also offer full service upgrades. The broker of record is Schaunon Winter and her licenses can be verified at the Colorado Real Estate Commission and the New Mexico Real Estate Commission.
Colorada License #IC40037602
New Mexico License #16755

www.BrokerDirectCo.com
877.MLS.FSBO Toll Free
303.648.4000 Phone
877.657.3727 Fax
schaunon@brokerdirectco.com

mls2u.com is a website of Continental Real Estate Group, Inc., a licensed real estate brokerage covering several East Coast states, including Connecticut, District of Columbia, Delaware, Florida, Illinois, Maine, Massachusetts, Maryland, Minnesota, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Virginia. Their listings start from $124-$299 depending on the state and county. They offer a variety of add on services including local Realtor lockboxes, virtual tours, fax on demand, and caller ID tracking on calls.

The broker of record is Derek Eisenberg and he is licensed in CT (#REB.0756009), DC (#CO9835517), DE (#R2-0003013), FL (# BK3201465), MA (#145125), MD (#611425), NH (#062752), NJ (#8734252), NY (#32EI0910766), PA (#RM062792A), RI (#B15997) and VA (#0225 100252).  Anne Marie DeNoble is Broker of Record for IL (#478.025092) & MN (#40159155).  For more information, contact:

mls2u.com
Continental Real Estate Group, Inc.
(877) 996-5728

Real Estate Advocates is the oldest and largest flat fee company located in South Carolina. Since 1991 it serves Anderson,Beaufort,Charleston, Columbia, Greenville, Hilton Head, Myrtle Beach, Rock Hill, and Spartanburg. It not only offers a flat fee MLS w/By Owner option, but a free Multiple Listing w/By owner option . Buyer Rebates are also offered of up to $5000 any place in the state. Their competitive advantage which differentiates them from referral companies is their 25 local agents. They offer limited to full service w/a menu of services to offer our clients every meaningful marketing avenue at a flat dollar cost rather than a percentage. Their signs and other advertising can include the owner’s phone number as an option in most markets. They require no long term listing contracts and have other flexible programs making them an excellent choice for someone who understands how real estate works.

Broker: Robert Mandel, BA , MS, Ph.D.
CEO and Broker in Charge
Company: Real Estate Advocates
Address 1818 Bull Street
Columbia,S.C. 29201
Phone: 803-779-0012
Fax: 866-885-0269
License #: S.C.18403
Website: SCFlatFeeMultipleListing.Com

* Web Site: www.WhyMLS.com

* 1-800-433-5206       info@whymls.com

TEXAS FLAT FEE MLS INCLUDES: 

◦Listing on Realtor’s MLS with up to 25 photos.

◦Realtor.com Listing with up to 25pics

◦Your Contact Information on MLS

◦Your listing on all MLS IDX sites.

◦Expanded online coverage: Google, Hotpads, HAR, & more

◦Edit any aspect of your listing anytime.

◦Real Estate forms & disclosures.

◦Brokerage yard sign

◦You maintain full control of your sale or lease.

◦Retain your right to sell/lease “By Owner”.

◦Cancel anytime for any reason, No Hidden Fees

* Email: info@whymls.com

* Website: www.WhyMLS.com

MultipleListingSystem.com is a website of Continental Real Estate Group, Inc., a licensed real estate brokerage covering several East Coast states, including Connecticut, District of Columbia, Delaware, Florida, Illinois, Maine, Massachusetts, Maryland, Minnesota, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Virginia. Their listings start from $124-$299 depending on the state and county. They offer a variety of add on services including local Realtor lockboxes, virtual tours, fax on demand, and caller ID tracking on calls.

Licensed in CT (#REB.0756009), DC (#CO9835517), DE (#R2-0003013), FL (# BK3201465), MA (#145125), MD (#611425), NH (#062752), NJ (#8734252), NY (#32EI0910766), PA (#RM062792A), RI (#B15997) and VA (#0225 100252). For more information, contact:

MultipleListingSystem.Com
Continental Real Estate Group, Inc.
(877) 996-5728

In Tennessee, folks can try Broker Direct MLS of Tennessee. They offer MLS listing packages starting at $379. The broker/Realtor of record is Susanne Flynn and her license can be verified at the Tennessee Real Estate Commission.

Also, the following testimonial was provided by one of our readers, Scotty:

“I recently used a flat fee MLS service when I sold my house last month in Tennessee. She was very good and the service is just as she described. I did all of the work and saved over $4000 by not having to pay another 3% commission. I’ve been telling everyone about what she offers.”

www.ResultsMLS.com
Tennessee License #303511
Susanne Flynn, Realtor
(615) 822-5808 Direct
(615) 855-1151 Office
(866) 232-1618 Fax
info@BrokerDirectmlsTN.com

 www.WhyFlatFee.com is home based in Kentucky Click on link for more information.

HomeWorksRE.com

Serving consumers since 1999 this company is one of the pioneers of the Flat Fee MLS listing model. Time tested and successful this company now serves five states, California, Arizona, Nevada, Oregon and Washington state.

Homeworks Real Estate embraces a service model focused on “give the consumer what they want.” Service options range from a low $259 for a basic MLS listing or $395 for a full package of services which includes a sign, forms, extended listing duration and phone support.

Homeworks Real Estate Inc. enters the client’s contact information into an automated phone database system that allows home shoppers to contact the owner directly from websites that only allow the listing agent’s phone. The idea is to give the seller the best chance to sell with the least cost.  www.HomeWorksRE.com

DiscountRealtySolution.com

Founded in California in 1998 as one of the original  Flat Fee MLS  Brokerage firms in the United States.

The concept was so successful that it has been expanded to encompass nine additional Sates: Alabama, Arkansas, California, Colorado, Georgia, Mississippi, Nebraska, Oregon and Washington.

Discount Realty Solution has listed over 13,000 clients since it’s inception with a consistent goal of Superior Customer Service and the best price to performance ratio possible.

Is a also a full service brokerage offering a wide range of services and client assistance, including every aspect of listing in the MLS thru the acceptance, negotiations, paperwork and closing of an offer.

www.DiscountRealtySolution.com

William Johnson Broker
NE License # 20070812
Phone (866) 663-3995

Missouri residents have two choices to list their home on the MLS and Realtor.com.  In the St. Louis, Kansas City and Springfield areas, home owners can get their house listed for $299 while maintaining their For Sale by Owner Status and receiving state mandated minimum services like assistance in accepting offers and writing counter offers.  For $500 up front and 1/3% at close, St. Louis area residents can get listed on the MLS, Realtor.com and STLToday.com.  Plus an experienced agent will come to your house to assist with staging, pricing, listing contracts and will enter your house into the MLS while you wait.  Finally, for 1/3% of the sales price at close, they will negotiate the contract on your behalf and take care of all your closing paperwork.  With both programs you can save on the buyer’s agent commission if you sell your house on your own. Johnson Realty has been highlighted in the St. Louis Post Dispatch, St. Louis Magazine and the St. Louis Business Journal.

License number #2005033175
Website JohnsonRealtyofStLouis.com
14434 S Outer 40Chesterfield, MO  63017
Phone (314) 726-3174
Fax (314) 726-3184
Hours: 9:00am-6:00pm M-F
           12:00pm-4:00pm S-S

www.Florida-Flat-Fee-MLS.com  is one of the most prevalent and dependable Flat Fee MLS listing services in the State of Florida. They have been in business since 1995 and have been providing discounted Real estate services saving sellers thousands of dollars since the year 2000 to many happy customers. They also provide Virtual tours, Real Estate signs, lockboxes and Buyer lead notification. Listings services start at $199. The Broker of record is Douglas Addeo Lic # BK0559732 and can be reached toll free at 877-273-2169.

Douglas Addeo, BROKER and REALTOR®
___________________________________________
Community Realty Associates
Office (561) 852-1341
Fax    (561)477-2465
eMail  FlaMls@Comcast.net

Prello Realty is a recognized and established Illinois based Flat Fee MLS Listing Company, they have been in business since 2001 and have sold over $150 million dollars of property in 2007. They cover all Illinois counties and their flat fee listing service is reasonably priced at $299.  They also offer a variety of add on products and services including Realtor lockboxes, virtual tours, brochure boxes, and more. The broker of record is Robert Picciariello (#075.0105900).  For more information, contact:
 
www.PrelloRealty.com
Prello Realty, Inc.
2712 N. Ashland Ave.
Chicago, Il. 60614
773-472-8900
Robert Picciariello
Real Estate Broker
Prello Realty, Inc,
office: 773-472-8900
fax: 312-453-0704

HomeWise Real Estate services sellers in 8 MLS areas covering 59 of Ohio’s 88 counties.  With HomeWise, consumers can choose the services they need and pay for those services.  They offer 3 listing options:
Basic for $399
Maximum for $499 
Plus for $499 & ½% at closing which includes contract negotiation.

Web Site: www.BrokerDirectMLSOhio.com
Office: 800-579-1979
Email: Sharon@HomeWiseMLS.com
Ohio Broker #358029

ListFor98.com a.k.a. AmeriSell Realty covers the entire state of Michigan except the western U.P. They have been a Flat Fee Realtor for over 5 years and have programs starting at just $98 to list in the local Multiple Listing Service &  Realtor.com®.

As far as ease of use, this site is it.  It goes right to the programs, lays out everything in a simple straightforward fashion and the broker even provides his cell phone; something we have not found from any other brokers on this site in all 50 states.  It appears this broker puts customer service first.

Listfor98.com provides offers several different listing programs.  In addition, they give the seller every conceivable marketing feature regardless of the program you choose.

They also offer full service as an option for only ⅓of 1% (.0033) to process the offer from start to finish. They refer all buyer leads directly to sellers. AmeriSell Realty also rebates half of their commission to buyers payable at closing if you use them as a buyers agent.  The broker of record is Jeff Kermath Lic# 6505330456

ListFor98.com
a.k.a. AmeriSell Realty
490 Hunters Crest
Saline, MI 48176
Call 888-909-LIST (5478)
Fax 866-358-1349

This company offers a wide range of Flat Fee MLS Listing services: For $299 – $499 they will list your home in the Okahoma City and Tulsa MLS areas.  They also offer home buying services, and contract negotiations. Their Flat Fee MLS service has options such as “showcase” listings on Realtor.com^®.  The Real Estate Place is also a member of the Broker Direct MLS cooperative advertising trade group and can be found at ListByOwnerOnMLS.Com, AmeriSellRealty.Com and BrokerDirectMLS.Com.

The broker is Steve Sizemore.

Website: www.Entourage1.com

Phone:
       Oklahoma City (405) 348-1155
       Tulsa 918-398-9390
Email: Info@Entourage1.com
Fax: 866-454-2309

This firm offers flat fee listings in Oklahoma City.  They provide informed, professional real estate services to buyers and sellers in the greater Oklahoma City area.
Brokerage License # 155039
Frank Aufiero
Salesperson’s License # 154899

Based out of North Salt Lake, Utah, this company offers limited service for $395 and full service for $745. The broker of record is John T. Armstrong of ARI Realty and Investments, holding license #6502205-CN00.

ARI Realty and Investments
650 North Main Street #120
North Salt Lake, UT 84054

Findutah@gmail.com
(801)390-4693 between the hours of 10am-5pm.

Wisconson Flat Fee MLS Listing – A broker in Wisconsin is experimenting with offering a free 30-day trial MLS access, and if the seller gets 4 or more calls during the trial and wishes to continue the service then they pay a fee of $275. The broker of record is Matthew Trenkle who holds license #53924-90. For more information, contact:

Standardres.com
2214 N Holton St.  MKE   53212
262 607 1983
mtt@brewtownbrokers.com

As discussed on Barnako.com, the potential impact of Google Real Estate is quite enormous, even if their initial offering leaves much to be desired. The reason is that they can launch this product at the top of their search results in every market in the country. Since the majority of people are now starting their Real Estate searches online, the amount of exposure Google’s listings will get is undeniably huge and thus the quantity and quality of listings is sure to rapidly improve.

According to a report in Inman News, former employees of Iggy’s House/Buy Side Realty report that they are about to shut their doors.  This flies in the face of reports in the same article by CEO Joseph Fox that they are just restructuring.

It would appear that freebies and loss leaders don’t always stimulate enough business to compensate for the expenses they incur.  This is not a free car wash with a tank full of gas.  Iggy’s would list a house for free on the hope that one or more of the buyers that called inquiring about their listing would buy a home through them.  Wishful thinking in the worst real estate market in 15 years.  That’s more like a tune up, brakes and a new set of tires with a tank full of gas and not only that….you don’t have to buy the gas until after you get all that stuff.  Now granted, today a tank full of gas is not cheap but unfortunately when they refund 75% of the buyer’s commission, their service was pretty cheap; so cheap in fact that it could never compensate for the free listings they gave away.

Where did Iggy’s go wrong?  Most likely their founders are to blame for having inflated egos in a deflated economy.  Joe and Avi Fox got lucky once.  They sold their online stock brokerage Web Street to ETrade and thought they could repeat their success in Real Estate.

ETrade bought webstreet for $45 million and the Fox brothers were reported to have earned $9 million each on the sale; certainly enough to live comfortably for the rest of their lives without starting a hair brain real estate model that gives away most of it’s services for nothing or next to nothing.  Then again, these are the same two guys mentioned in a 2005 press release about launching Stand-Up Comedy TV.  Iggy’s house was certainly a comedy…..of errors.

FFMLS Staff Writer

Another California based company, local to the Sacramento area. Ed Fitch of Fitch properties is the broker, license #01243729. Prices start at $249.

RealtyDollars2u.com
Ed Fitch, Broker, ABR, GRI
Office: 916-782-5015
edfitch@comcast.net

www.CalFlatFeemls.com . is California’s #1 flat fee listing company
All Listing Pkgs Include the Following

◦Listing on Realtor’s MLS with up to 25 photos.

◦Realtor.com Listing with up to 25pics

◦Your Contact Information on MLS

◦Your listing on all MLS IDX sites.

◦Expanded online coverage: Google, Hotpads, etc

◦AUTOMATED call forwarding 24/7 ($25 Add-on)

◦Edit any aspect of your listing anytime.

◦Modify or replace photos anytime.

◦Real Estate forms & disclosures.

◦Brokerage yard sign

◦You maintain full control of your sale or lease.

◦Retain your right to sell/lease “By Owner”.

◦Cancel anytime for any reason, No Hidden Fees

Call 805-915-6329
info@calflatfeemls.com

Wisconson Flat Fee MLS Listing – Redefined Realty is a broker in Southeastern Wisconsin and a member of the Greater Milwaukee Association of Realtors. They offer a full spectrum of services from flat fee MLS listings ($495) to customized marketing plans with negotiable commission rates. The principal broker is Paul Liebe and their license can be verified at the Wisconsin Department of Licensing and Regulation.

Redefined Realty

License #700698

P. O. Box 562

Oconomowoc, WI 53066

phone: (262) 567-9894

fax: (262) 364-2338

email: info@redefined.com

List homes in the Triangle area MLS and as Showcase listings on Realtor.com for $399. Other a la carte services are offered as well depending on the seller’s needs.

- Cassondra Liles, Broker/Owner
- www.CassondraLiles.com
- Licensed in NC
- License #197259

Boston Entry Only serves greater Boston with flat fee MLS Listing Services.  MLS PIN, the MLS for the area offers both limited service and entry only.  Boston Entry Only fulfills  their title.  They do not act as a seller’s agent or provide any supplementary services.  They are bare bones which is appealing to some people that really don’t want any other services.  With the MLS flat fee program, the Seller will be responsible for handling his/her home sale, which includes all home showings, open houses, negotiations, and paperwork like escrow, title, inspections, disclosures, appraisals, etc. If Sellers feel that they need a professional for certain aspects of the transaction such as negotiations, drawing up contracts, holding escrow, legal advice, or advice on the official offer, they recommend hiring an attorney to assist in some or all of those areas.

Broker Edmund Wong
BostonEntryOnly.com
25 Dorchester Ave Box 52543  
Boston, MA 02205
Phone: 617-830-9870  
Fax: 617-848-2600

TerraNova Real Estate is a versatile flat fee agency catering Wisconsin Sellers
John Newland
Wisconsin Broker license # 55028-90.

I just ran across Meetup.com’s real estate networking group, and was quite impressed. There are nearly 16,000 people in 166 cities available to meet with, and there’s nothing like talking about real estate to learn more about it and find people to do deals with.

Whether you are a novice or an expert, with so many people involved, there is bound to be someone that you can relate to and bounce ideas around with or swap stories. As the title says, I think real estate networking just got easier.

This firm offers flat fee listings from $495.  They offer a Open House Flyer Creator ,Virtual Tour Capability , Documents & Forms, and an HTML Classified Creator.

Broker is Lawrence Vecchio
Better Homes Realty
License # 7871741

Based in Appleton, WI, Foxcity Homes provides Flat Fee MLS and FSBO advertising
for home sellers in Northeastern WI.

Brokerage License # 55533-090

Idaho residents can try Metro Direct Realty in Meridian for affordable real estate services. They offer full service flat fee plans from $2,495, and serve the following areas:

Boise,Meridian,Eagle,Star,Kuna,Nampa,Caldwell,Middleton and Emmett

They are licensed as a corporation and their license number can be verified at the Idaho Real Estate Commission. For further information contact:

METRO DIRECT REALTY
License #CO29146
30 E. Broadway Suite #201
Meridian, ID 83642
(208) 888-4299 Office
(866) 316-9658 Fax
Email: info@metrodirectrealty.com

By FFMLSM Staff Writer:
MLS stands for Multiple Listing Service; a database of homes that Realtors^® use to share their listings with other Realtors^®.  In the traditional real estate model with a high 6% commission, the Listing (the Seller’s) Brokerage usually splits its commission 50:50 with the Selling (the Buyer’s) Brokerage each earning 3%.  With a Flat Fee MLS Listing, the listing broker works for a flat fee.  However, today Flat Fee MLS is far more than a Flat Fee Listing of days past.  Today Flat Fee MLS is also à la carte services.

 The traditional brokerage industry prefers to refer to Flat Fee MLS as limited service but it’s far from limited.  What it really is, is consumer choice.  Many flat fee brokers offer all of the services that traditional brokers offer but in a menu format where sellers can pick the services that they want and pass on those they don’t want.  The majority just want MLS marketing and pass on transaction management but a growing number are asking their broker to negotiate and brokers are catering to that demand with a range of programs from a flat fee of a few hundred dollars to ¼%, ½%, ¾% or greater. 

 Who is purchasing Flat Fee MLS services?  The client base seems to be broad.  It seems to be a mix.  Some are sharp educated consumers.  Some are frugal value minded consumers.  Others just want control of their listing and the price is not necessarily the factor.

For Sale By Owner (FSBO) sellers also flock to it as an alternative for costly commissions while still getting the benefit of maximum exposure on MLS and Realtor.com.  The one thing that stands out is the growth in market share.  In 2000, less than 1/10th of 1% of the people used a Flat Fee Broker.  Today it’s about 8%.

Today I worked on cleaning up the directory organization, so that the real estate broker’s are more accurately listed in the states they are licensed in. If anyone has any broker’s to add or update, or if any state is missing the license search link, then please contact me via the form listed on the about page. As always, I appreciate hearing people’s experiences and other agent’s thoughts, so thanks to all those who have made meaningful comments and contributions to the discussions here.

For those in the Kansas City Metro area, The Etta Bell Team recently started offering discounted full service representation. This is an option for those buyers looking to save money, while still having a real estate agent do most of the work for them. Of course, as with all real estate options, it is recommended that you thoroughly discuss and educate yourself as to exactly what services you will be getting. This company’s program starts at $3,495 for homes under 299,000. Their license can be looked up at the Kansas Real Estate Commission.

The Etta Bell Team
License #BR00004487
Office: 913-334-1509
Fax: 913-334-5757

As discussed in the real estate cafe blog, and originally from Inman news, there are signs that the year 2006 may be a tipping point in the real estate revolution. Some of the signs mentioned are Zillow’s coming out of stealth mode, and the DOJ lawsuit, which are both landmark events.

In many respects, flat fee mls services represent the halfway point for people considering trying to sell their house themselves. Some reports have estimated that as much as 50% of homeowners try to FSBO before hiring an agent, and also that as much as 80% of those people who try to FSBO do end up hiring an agent.

Thus, somewhere between the many people who try to FSBO and the many people who give up on doing an FSBO is a huge market for flat fee mls service. Flat fee mls represents almost a halfway point in the comission, in that the amount charged by the listing broker is only a few hundred dollars, but you still have to offer 2-3% to the buyer’s broker.

In my mind the 2-3% offered to the buyer’s broker is not that big a deal for the incredible amount of additional exposure you get. It’s like offering a bounty on a buyer for your house in the same way that the US goverment has been offering million dollar bounties on terrorists. Money is an extremely effective motivator, and there are many hundreds of agents who will go to work when you post that ad.

Moreover, everyone know’s that housing prices are negotiable, so if you think the agent is getting to much money, then just raise your price to make up the difference. The NAR 2002 Profile of Buyers and Sellers report even indicated that median sales price for FSBO’s was 27% lower then for homes sold by agents. So surely the use of a flat fee mls service can make up the difference in the price of a house after the commission???

You have always heard the saying, “location, location, location”.  They are often described as the three keys of selling a home and getting top dollar. However, while location, location, location are not the three keys of selling a home; they are the three keys of buying one.

The 3 keys to selling a home are:

 #1 - Pricing your home

 #2 – Staging your home

 #3 – Listing your home on the MLS & Realtor.com

#1 – Your List Price

The most common mistake people make selling a home, is overpricing, and this occurs about 80% of the time … So why do people do this?

Here are the reasons why people come up with a list price and overprice their home.

  •  I need the money to buy a new home.

  •  I am not going to give it away .

  •  Other homes are listed for $$$$.

  •  I need to leave room for negotiating.

  •  The Realtor said to list it for $$$$.

  •  My neighbor/friend said they got $$$$.

  •  Homes go up in value.

  •  We got an appraisal.

  •  I need to get $$$$ to cover the agent’s 6% commission.

  •  My home is the best in the neighborhood.

  •  I am not going to loose money on this home.

  •  We are not in a hurry to sell.

So how do you come up with a true and honest list price?

You need to look at all the homes that have been listed in your area and analyze all the data. You need to look at: Active, Sold, Pending, Canceled, Expired, and Withdrawn listings. This is called a CMA (Comparative Market Analysis). You are analyzing the total market conditions in your area, so you can make an educated decision on the list price. Only a very experienced broker knows how to do this properly, and has access to the data.

Some of the brokers you will find listed on the right hand side of this web site are able to do a CMA, give you an honest opinion (because there fee is not based on the price of the home), and explain how to sell your home. It takes a broker that has done a lot of listings to possess the experience necessary to give you an objective listing price.

#2 – Staging your home

Staging your home means getting it ready to sell. Click Here for is a great web site, from HGTV, that will explain staging in detail. Most homes that are on the market are not staged, so when you stage your home, you are placing your home well above most of the competition. This may be one of the best kept secrets in the home selling business.

#3 – Listing your home

You can do steps #1 and #2, but if you are not getting your message out to the home buying public, then your message is falling on deaf ears. Listing your home on the MLS (which is the data feed for Realtor.com® and many other great websites) is by far the best may to market your home. Many people know this, but do not want to pay 6% to get it and THEY DO NOT HAVE TO. We have compiled a list of highly recommended Flat Fee MLS Listing Brokerages (see right hand side of web site). Listing your home on the MLS for a Flat Fee may be the best way to market your home. Not only do you get the MLS, but you get the advice of an experienced and successful broker.

In closing, the staff at www.FlatFeeMLSMarketing.com has done a lot of research on the art of selling homes. If you follow these 3 steps, you should not only sell your home for top dollar and fast; but you will net more money by lowering your selling expenses. Research has shown that selling your home with a Flat Fee MLS Listing Broker factoring marketing time, commission and price, nets you the most money for your home in the shortest period of time.

Most Flat Fee Brokers are also able to help with contracts and closings, and because of the sheer volume of properties they list, they are much more experienced than most traditional agents you would retain for a high 6% fee.

Staff Writer

Flat Fee MLS Marketing

I thought I had found an answer when I read the quote from a Freakonomics reader:

“I talked to the author of this study at the National Association of Realtors and it was based on a survey return from 155,000 mailings. The returns totalled 7400. The criteria was a sold, single famiy, detached home in the suburbs.”

But then I came across this comment on none other then the New York Times blog:

“NAR surveyed 108,000 people who had sold their homes, got about 3,700 responses, and compiled the results.”

Now I am confused.

So I went to the NAR website to try to dig up some more information on what really happened, and I found this file on the highlights of the survey. It says:

“In August 2005, the NATIONAL ASSOCIATION OF REALTORS® mailed an 8-page questionnaire to 90,000 consumers who bought a home between August 2004 and July 2005. Information on sellers comes from those buyers who also sold a home. Hurricane Katrina disrupted mail service in late August 2005 in some areas of the country and artificially depressed the response rate to the survey. Consequently, the questionnaire was re-fielded to an additional 55,000 homebuyers in selected areas. All told, the survey yielded 7,813 usable responses yielding a response rate of 5.4 percent. Consumer names and addresses were obtained from Experian, a firm that maintains an extensive database of recent home buyers derived from county records.”

So according the survey’s author, neither of the above comments were correct. It sounds like there were 145,000 surveys mailed, and 7,813 usable responses. Of course, that still doesn’t explain how they calculated their different prices for FSBO and realtor assisted home purchases?

Well, according to the National Association of Realtors, they are worth $31,800, which seems like an awful lot. However, I’ve recently run across some more research on the subject and a few answers to my earlier questions about how the NAR came up with this magic number. A comment by Leonard of the website mainemls.com on the Freakonomics blog says:

“I talked to the author of this study at the National Association of Realtors and it was based on a survey return from 155,000 mailings. The returns totalled 7400. The criteria was a sold, single famiy, detached home in the suburbs.”

Ok, then my next question is – what did they do with this data? Is it a simple price average or median that they are presenting or is there more to it? Fortunately, the Real Estate Center at Texas A&M University did some more research on this subject, although they were focused on limited service brokers versus traditional full service brokers. What they found was this:

“Interestingly, the empirical results from the models show that limited service listings sold for 1.7 percent less than typical exclusive-right-to-sell listings and took 17.1 percent longer to sell. Given that the typical discount offered by limited service brokers is approximately 2 percent, there does not appear to be any net gain to sellers using limited service representation.”

This came as a bit of a surprise to me, however, they went on to say:

“If the limited service broker charges a total 4 percent commission, then the commission plus the 1.7 percent lower price is approximately equivalent to a 6 percent commission from the seller’s perspective. If this result holds up in additional studies, it would indicate that limited service brokerage offers no dollar advantages to the seller over typical brokerage when using the exclusive right to sell contract.”

Ok, so what this tells me is that using a discount agency versus using a full service agent has a fairly nominal difference, although the above math would still indicate a .3% gain by using the discount broker that charged 1%. It doesn’t sound like much, but this could be .3% x $500,000 in Southern California which would equal $1500 and is probably enough for a nice weekend vacation to Hawaii.

The more interesting question in my mind, is that if I am doing the math correctly then a flat fee MLS listing that costs $500 + a typical 3% buyers agent commission = a total of 3.25% commission on an average $200,000 home. So based on this research, if a flat fee MLS listed home sold for the same 1.7% less then the homeowner using a full service agent, then that would amount to a 2.75% gain which equals $5500 and is certainly enough money to motivate some people to do the extra work involved in this kind of transaction.

This firm offers flat fee mls listings in Arkansas from $349.

Thomas  DeBoth
7122 Highway 300
Little Rock, AR 72223
Office 501-868-6073
Cell 501-658-8013
Fax 866-210-9707

Offers Flat Fee Listings throughout Iowa for $495.

Scott E. Thomas, Sr
Licensed Real Estate Broker in Iowa
5555 Glen Oaks Pt
West Des Moines, IA 50266
ph. 515-770-7653
fx. 800-214-6615

Wisconson Flat Fee MLS Listing – This company is based out of Milwaukee, WI, and offers flat fee mls listings in the Milwaukee MLS, Madison MLS, or Green Bay MLS and serves 27 counties in Wisconsin. Their prices start at $449, and the broker is Ryan C Sellars and holds license #53813 and #701483.

SellUSAHouses.com
e-mail: CustomerService@SellUSAHouses.com
phone: (414) 238-3972

In North Carolina, this company offers flat fee services starting at $299 and 1.5% buyer rebates. They offer services in Charlotte, South Carolina, Mecklenburg, Union, Cabarrus, Gaston, Iredell, Stanley, Lincoln, York, Lancaster, Mint Hill, Matthews, Lake Norman, Lake Wylie, Raleigh, Wilmington, Greensboro, and other surrounding areas. The broker is Bernard A. Kaminsky, of Golf Realty Inc., and the license #’s are 191844 in North Carolina and 37917 in South Carolina, the latter of which can be checked at the South Carolina Real Estate Commission.

CharlotteFlatFee.com
Phone: 704-545-7522
Email: flatfee@carolina.rr.com

In Chicago, Illinois, this company offers 1 year flat fee MLS listings with free virtual tours starting at $199, and they also offer 1% buyer rebates. The broker is John Funk, holding Illinois license #078.0012184. More information is available here:

eMarketRealty.net
10248 s. Albany Ave.
Chicago, IL 60655
Toll Free: 800.636.1477
info@eMarketRealty.net

SaleByOwnerTexas.com is a hybrid.  They offer both a pure For Sale By Owner (FSBO) product as well as Texas Flat Fee MLS Listing.  They offer a website, signs, flyers, and contracts to their FSBO customers and when a client wants more exposure, they can upgrade with an MLS and REALTOR.com listing.  They also promote a variety of partners sites for supplementary exposure locally, regionally and nationally. They service all the major markets in Texas, including: Dallas, Fort Worth, DFW, Houston, Austin, San Antonio, Tyler, Corpus Christi, Waco, College Station, Denton, and many more cities. Home office is in Texas.

Web Site: www.SaleByOwnerTexas.com

In 1981 the National Association of Realtors began tracking what percentage of homes sold by owner.  The number has fluctuated from a low of 13% in 1997¹ and a high of 20% in 2005¹ but the number seems to hover around a mean of 15%; hence the 85:15 ratio (Realtor Sold:Owner Sold).

The most interesting part about these figures is that there was no internet in 1981.  The Internet did not even play a role in real estate until the late 90s and when it did, the numbers did not change much.  In a seller’s market, the percentage of For Sale By Owner (FSBO) sales continued to rise and in a buyer’s market it fell.  This would tend to indicate that it’s not the medium of communication that affects the percentage of FSBOs but instead the market itself.  In other words, sellers might be more apt to try FSBO because it’s easier but not because the web makes it easier to upload a digital photo and a description but instead because the market is hot and more apt to respond to any type of posting by a seller.

What motivates a FSBO seller to be willing to try to sell without a Realtor is far more inate, however.  FSBO sellers have what one might call the do-it-yourself gene.  FSBO sellers like home projects; not just selling the home but fixing and improving the home.  It would seem that FSBO sellers are the type of people that like to shop at Lowes and Home Depot and take on projects on their own.

Years ago, the local plumbing or electrical supply house had signs….contractors only; this is their livelihood.  That was until Home Depot and Lowes began selling all the same products for less money to anyone.  A FSBO website is similar to MLS but it’s like a knock off of the real trade product.  It does not have the acceptance that MLS does because it does not reach the same people as the MLS.  This is because 85% of buyers are still going to brokers or broker websites to buy their home.  Besides the fact that 85% of the people want service, to the buyer, the perception is that the services of a buyer’s agent is free and that the service is paid for by the seller.  Buyers do not see the cost as coming off the top of the deal.  So FSBO websites have never been the real trade product and never will be.

So the system remained imperfect with the advent of the internet because the FSBO seller had no ability to buy the real trade product.  That was until Flat Fee MLS brokers began springing up around the country.  Suddenly there were brokers who would sell the formerly wholesale product, retail to the public.  Flat Fee MLS was essentially an unbundling of the materials from the labor provided by professional.

Flat Fee MLS has turned the 85:15 ratio into an 70:20:10 ratio (Traditional Realtor Sold:Flat Fee Realtor Sold:Owner Sold).  A new service level was carved out of the decades old ratio.  It’s just a sign that Real Estate is changing and will continue to change.

Staff Writer

¹Source: Home Buyer & Seller Survey Shows Rising Use of Internet, Reliance on Agents
         January 16, 2006, The National Association of Realtors
         http://www.realtor.org/press_room/news_releases/2006/hmbuyersellersurvey06

In Business Week’s blog today, Chris Palmeri discusses the boom in real estate jobs, and also the changing nature of the real estate job market. Naturally, as the industries business models and participants change, their is likely to be a similar change in what kinds of jobs will be available. So what kind of jobs will there be more of in the future?

This is a difficult question to answer, since it still remains to be seen what business models will stand the test of time, but it certainly seems to me that discount real estate agencies are on the rise. Also, since working with home seller’s is traditionally the more profitable side of the real estate transaction, I wouldn’t be surprised if the biggest losers are the agents who have been listing houses for sale with excessively large commissions.

The National Association of Realtors recently released their quarterly report which indicates that prices are up 10.3% but that sales are slowing and inventories are growing in many markets. The NAR interpretation of this is as follows:

“The growth in single-family home prices continued to cool in the first quarter, but many metropolitan areas are still showing double-digit annual gains, according to the latest survey by National Association of Realtors®. At the same time, metro area condo price appreciation has generally cooled to normal levels.”

On the other hand the Marginal Utility blog’s analysis of NAR’s raw statistics had this to say:

“The appreciation is highly concentrated in the early part of last year; for most metro areas, prices peaked or plateaued around quarter 2 or quarter 3 of 2005. So while the year-over-year increases appear to be “cooling,” the sequential increases have ground to a halt.”

By FFMLSM Staff Writer:

Flat Fee MLS Listing – In January of 2004 a savvy group of brokers had a novel concept.  At the time, IP based searching was in its infancy and Texas Broker Jack McLemore (WhyMLS.com) noticed that national advertisers had an advantage in Pay Per Click advertising (PPC) that local IP based advertising could not compete with.  Shortly thereafter he teamed up with Schaunon Winter (BrokerDirectMLSCo.com), and Derek Eisenberg (MultipleListingSystem.com) to form the first cooperative advertising group to market Flat Fee MLS listings on Google, Yahoo and Microsoft.  Soon after, Jeff Kermath (AmeriSellIt.com) and Richard Webber (HomeworksRE.com) joined as partners followed by over 20 affiliates in over 42 states.

 Coops have been around for years.  They are found in small pharmacies and hardware stores that want to compete with the big chains but they are somewhat new to PPC advertising.  Through Broker Direct’s cooperative efforts, an affiliate of Broker Direct is usually in the top two sponsored link positions at any given time for all key flat fee mls list advertising terms.

The Broker Direct Group, LLC currently operates several websites including AmeriOwner.com, ForSaleByOwnerMart.com, ListByOwnerOnMLS.com, ListFlatFeeMLS.com, and SaleByOwnerAmerica.com.

Scott & Mike Berg sold over 80 million dollars of property in 2005. With a fun blog and a reasonable price of $359, it seems like it would be hard to go wrong with this Chicago, Illinois broker. Licenses can be verified at the Illinois Real Estate Professions website.

Berg Properties
Chicago Area and Suburbs
127 North Marion Street, Suite 5
Oak Park, IL 60301
Phone: 708-434-1165
Fax: 312-896-9306

This company is licensed in and services Wisconsin. The major metropolitan areas that are covered include: Metro Milwaukee, Madison, Janesville, Beloit, Green Bay, Appleton, Oshkosh, Fond Du Lac. Their flat fee listings (MLS-Only) start at $450, and include professional signage, lockboxes, and more. If homeowners desire more assistance, they offer Negotiation Packages as well as a full service plan for 3.9% (WI – Metro Milwaukee area only). Since their start-up in 2004, Brendy Realty has saved clients over $5.4 million in commissions & fees.

The broker of record is Robert Brendemuehl, and he is licensed in WI (#52273-90). For more information, contact:

www.BrendyRealty.com
Brendy Realty Inc
Mequon, WI
p# 414-228-0499
f# 866-433-1601

iRealty Flat Fee Brokerage, LLC lists homes for $299 for 1 year.  There are optional services
available as well.

Vanessa Carlson, Broker
IL License #475.118400

The concept of flat fee real estate services has probably been around a pretty long time, and so you’re probably wondering – what’s the big deal???

Historically the reason for the need of real estate agents was similar to the need for stock brokers – in order to have a market with some degree of liquidity, there needed to be a group of highly specialized people that pooled together the available information to both participate in and actively create the market. However, in modern times this pool of paper and indiviudal communication has largely been replaced by computer databases.

The result of this in the financial industry, for example, is that the old fashioned stock broker who took a sizable commission in order to merely execute your stock transaction via a computer interface, has been largely replaced by online trading services.

This is not to say that there were not certain stock brokers who truly added value by providing good advice, and I think it’s fairly safe to say that these same individuals who did offer good advice have adapted to the growing industry of financial consultants to continue doing what they were previously doing.

What this means, at least in the case study of the financial industry, is that if a person who was formerly a stock broker could provide truly valuable financial advice, then they could probably continue to make lots of money by charging high hourly rates for their services, similar to lawyer, doctors, and accountants. However, for the many people who were previously able to charge high rates without adding value, they have had to face finding alternative employment.

I think a similar shakeout is going to happen in the real esate industry as the growth in online information services provides consumers with increasing amounts of knowledge previously only available to real estate agents. These newly educated consumers are going to ask themselves, why should a real estate agent get thousands of dollars for entering my house into a database???

And so they will turn to the growing cadre of brokers offering flat fee MLS services, and so the revolution begins.

[tags] flat fee MLS, flat fee mls [/tags]

Wisconson Flat Fee MLS Listing – Wisconsin’s Chippewa Valley residents now have a flat fee mls broker available starting at $395. They sport professional looking signs and have good information for potential clients on their site. Michael R. Paul is the broker of record. For more info, check out:

Lic#53734
Discount Realty Works LLC
3522 Patton St
Eau Claire, WI 54701
1-715-559-2942, FAX: · FAX: 1-866-252-3099

In New York, people can try Home-Trek.com, for flat fee listings. Their prices start at $349 and they serve “Metro NY, which includes the northern suburbs of New York City often referred to as the Hudson Valley, plus Long Island. Service areas include Westchester, Rockland, Putnam, Dutchess, Orange, parts of Ulster and Sullivan, Nassau, Suffolk & Queens Counties.”

Broker of Record: J Philip Faranda
License # is 49FA1116990
Verification: New York Division of Licensing Services
Home-Trek.com
Home Trek Realty LLC
20 Osage Drive West
Ossining, NY 10562
ph: (800) 834-8589
ph: (914) 941-0923
fax: (914) 470-1124
hometrek@gmail.com

This firm covers Southeastern NY and much of Connecticut.  In NY they are members of the Greater Hudson Valley MLS covering Rockland and Orange Counties and parts of Sullivan and Ulster counties. They are also in the Westchester and Putnam Counties MLS and the Long Island MLS covering Queens, Nassau and Suffolk Counties.  In Connecticut they cover all counties but Fairfield County.

Broker: Paul Gioffre
Flat Fee Island Inc.
105 Maxess Rd Suite S124 
Melville NY 11747
CT License: REB.0758645
NY License: 31GI1160465
Phone: 800-705-0988

As if the city of San Diego didn’t have enough problems with the enormous pension scandal and the as of yet still unfinished audits going on, it looks like the number of mortgage defaults in January rose from 374 in 2005 to 536 in 2006 according to the Voice of San Diego.

The scarier part is that in “2005, more than 70 percent of home loans in the county were interest-only or negatize-amortization loans.” This incredible rise in these types of agressive loans cannot bode well for the future.

“Loan Performance reported that in 2005, 26.7 percent of loans made to homebuyers and those refinancing their mortgages were negative-amortization loans. In 2004, that number was 9.9 percent. In 2003, it was 1.1 percent.”

If this continues, pretty soon we will have to come up with double-negative amortization loans to pay off the insanity of our 1st mortgages in this beautiful city.

According to the best-selling authors of Freakonomics, the answer is a resounding Yes. In a recent New York Times article, they support the much debated theory that real estate agents are headed for the same fate as stock brokers and travel agents. In this scenario, only a handful will survive, and most people will turn to discount brokers, flat-fee brokers, and fee-for-service agents.

Despite this ominous prediction, and their scathing review of agent behavior in their book, one might expect them to express disdain for this profession. However, in an interesting twist, they make the case that the public should feel sorry for real estate agents. Agents appear to be caught in the confluence of powerful economic currents, that are now being disrupted by the explosion of Real Estate information on the Internet.

For $350 they will provide you with a listing in Maricopa County for up to 6 months or until your home is sold. You can extend the listing one time for an additional six month period at no extra charge

Realtor: Bobbi Herman
Brokerage: Re/Max Renaissance Realty
Address: 9059 W Lake Pleasant Parkway #B200
City, State & Zip Code: Peoria, AZ 85382
Salesperson’s License #: SA555226000
Website: Peoria-Real-Estate-Info.com/FlatFeeMLS.html

Ok, so I am still working on figuring out how to use Wordpress, and trying to get all the plugins configured.

There’s nothing like trying to setup your own blog to appreciate the incredible amounts of work that other people have gone to in creating some of the more long running blog sites.

A flat fee mls broker based in Chapel Hill, North Carolina that offers services in 7 different cities and counties in the state. They appear to be quite successful with 8 agents, and a mention in the Wall Street Journal. Their flat fee program starts at $500 and they also offer full service listings for 1% + the commission to the buyer’s broker. The broker is Carl G. Wallace, and his license number is 198303 which can be checked at the North Carolina Real Estate Commission.

They also get kudos for prominently listing their license information, linking to the real estate commission lookup service, and just generally having the most fun and creative real estate website I’ve seen lately.

MyDogTess.com
103 Weaver Mine Trail
Chapel Hill, NC 27517
glenn@mydogtess.com

Before people stop buying it. The New York Times just ran an article on the least affordable places to live in the country, as measured by the ratio of housing prices to income. As a California resident, I was not surprised to learn that the Top 11 most unaffordable places in the country are found in this state; next on the list was New York City at #12.

The data has been graphed and there is a nice map of the country. It seems like the big city metropolitan areas are where most of the unaffordable housing is located. Unfortunately, there is no one explanation for why California is so absurdly overpriced, but some of the reasons given are the growing population, low property taxes, and the high birth/immigration rates.

Offering flat fee services starting at $349 in Massachusetts for a 12 month listing, or $399 in Rhode Island for a 6 month listing, with the option of 360 degree virtual tour for an additional $199. The website offers a list of common questions and answers and online checkout. The broker of record is Nick Larsen, holding Massachusetts license #9501739 and Rhode Island #C16353. For more information:

PeoplesMLS.com
Office: (401)726-6500
Toll free: (888)459-0001
E-mail: nick@peoplesmls.com

As reported in the Mortgage News Daily there have been numerous lawsuits against discount brokers, flat fee brokers, and fsbo websites, by various traditional brokerages and real estate associations. The rulings have been mixed, with FSBO websites being likened to online newspapers, so they are here to stay, while minimum service laws that limit consumer choice to only using full service brokers seem to have also been sucessfully implemented for the time being. What this portends for the future is anybodies guess, but many are watching the DOJ lawsuit to provide a roadmap for what is going to be deemed fair.

They presently offer flat fee services in NC, SC and GA.  They have two Flat Fee MLS price points; $295 and $695.  They include a certified appraisal in the $695 package.

License numbers are:

IHS-Bloomkey offers MLS in a number of states.  In all their coverage areas they do not seem to be the best price in town.  They bundle a bunch of items that do not add much value.  For example they tout podcasts.  The question is, are buyers going to download a description of your home and then play it in an iPod like music or is this a worthless add on that sounds kind of cool but adds no real value to the offering?   It’s also not clear whether their gold package, a $200 upgrade and their lowest package with multiple photos gets your extra photos on Realtor.com.   The site is vague on that topic as of this publication but we encourage them to clarify it.

They also appear to put listings in Realtor.com in states where they do not have a license and with no collaberation from a local licensee.  It remains to be seen whether this is legal but it’s certainly a good idea to research this with the local licensing commission before signing up.  It’s probably a safe bet to call your state’s licensing commission and ask them if they approve of Bloomkey being located in Virginia and taking national Realtor.com listings in a state where they have no license and no local agent they collaberate with.  Maybe it’s okay but maybe it’s not but you certainly would not want any surprises later or to find out your property was delisted so do your homework now.

Georgia Real Estate Broker’s License # H-52656
Maryland Real Estate Broker’s License # 521350
North Carolina Real Estate Broker’s License # C17343
South Carolina Real Estate Broker’s License # 13602
Pennsylvania Real Estate Broker’s License # RB066040
Virginia Real Estate Broker’s License #0226 007102
California Real Estate Broker’s License #01526048

A flat fee MLS broker based in Birmingham, Alabama that is part of the innovative Duffy Realty franchise. Their flat fee program starts at $500 and they offer a full spectrum of a la carte marketing services. The operating agent is Wayne Crawford and he is licensed under broker Rhonda Duffy, and the company Crawford Realty of Alabama Inc. The companies license #000079276-0 can be checked at the Alabama Real Estate Commission.

CrawfordRealtyofAlabama.com
Wayne Crawford
License #000079276-0
Telephone (205) 437.2004
wayne@crawfordrealty.net

The cost of flat fee MLS listings in many urban markets has dropped to a few hundred dollars, and now you may even be able to get an mls listing for free! One of the leading discount brokers for real estate buyers, BuysideRealty, has changed its name and begun offering mls listings in 20 states today with 17 more coming soon.

The question that I would ask, is can a service, effectively compete with a paid service that is perceived to be free, especially when it involves the incredible risk of being the one of the largest financial transactions of your life?

Hybrid Flat-Fee MLS Listing Services in Alabama.

Luke Smith Broker
AL Company License # 933362-0
AL Qualifying Broker Lic. #73433-0) 

In an effort to curb the success of minimum service offices that offer things such as flat fee mls listings, real estate lobbies in several states have convinced their regulators to set state-wide minimum service standards.

I personally think this is completely anti-competitive behaviour that will only hurt the public image of real estate agents over the longterm (disclosure: I hold a license but don’t currently practice). I hope the DOJ steps up to the plate with it’s lawsuit.

Click for more info.

[tag]minimum service, flat feemls, flat fee MLS, flat fee[/tag]

Flat Fee MLS Listing is a way of listing your home on the MLS and various public web sites, such as Realtor.com®, for a Flat Fee (paid at time of listing), instead of a commission of ±5-6% which is normally paid at closing.  If a buyer’s broker sells your home, you would still have to pay that broker ±2½-3% but sometimes there is no buyer’s broker and the flat fee alone ends up being your total cost to sell. Research has shown that this is the most cost effective way to market your home on the MLS. The reason that listing you home on the MLS for a Flat Fee is most cost effective is because you are getting all the marketing services that “traditional agents” use for a much lower cost. Most Flat Fee MLS Listing companies even allow you to sell your home as a For Sale By Owner while being listed. This is a great way to save even more money because a potential buyer may see your home on a web site, and contact you directly, saving you thousands in commissions. Traditional real estate companies will sometimes let you sell your own home, but more often than not you will owe that company a high commission.  With Flat Fee MLS companies, you will only ever owe a partial (½) commission to the broker that finds a buyer and only if there is such a broker; never if you find the buyer without another brokers assistance. Flat Fee MLS Listing is the best way to sell your home, period!

You will find many Flat Fee MLS Listing companies on the internet, so how do you know a legitimate company, when you find one. Flat Fee MLS Marketing has done the homework for you. There is a national group of Flat Fee MLS brokers that has formed a co-op. The name of the organization is Broker Direct MLS.  They can be found on the web at  www.BrokerDirectMLS.com. Broker Direct MLS has been in existence since 2003 while many of the brokers in the group have been providing flat fee listing services since the 90s. Also, Broker Direct MLS brokers mean just what they say.  They are Broker Direct; no middleman unlicensed referral companies.  Deal Direct and save with a locally licensed broker. All the brokers in the group have been in the Flat Fee MLS Listing business for a long time and are very successful. There are other good companies out there, but all the brokers in www.BrokerDirectMLS.com are time tested and very good at what they do.

MLS Entry:
• Entered into the Carolina Multiple Listing Service (CMLS) for $400
• 6 months on the initial listing term.
• Additional time is available month-to-month at NO additional charge.
• You may withdraw at any time, if not under contract.
Chester Martin
NC Broker License #171954
BestFlatFee.com

We are a new discounted real estate company licensed in Indiana.  We serve Wayne, Randolph, Union, Henry and Union Counties.  Our services include flat fee $695, reduced commission and ala carte services.
Website HoosierChoice.com.
Phone 765-373-8717
Address 710 East Main Street
Richmond, IN 47374
License # RC50800254

The MSN Money jornal put online appraisals to the test in a great review of the various online appraisal services including the hot newcomer Zillow. Not too surprisingly, Electronic Appraiser, which is the most expensive service they reviewed, came out on top. Indicating that in this case at least, the old adage “you get what you pay for” holds true. Unfortunately, they did not compare such services to those of real world appraisers, which would make for an excellent academic study for any real estate PHDs looking for a dissertation topic.

Also, kudos to the fsbo primer blog for pointing me to this info.

As this blog has evolved, I have decided lately to focus my energy on the flat fee real estate broker directory portion of the site because I feel that much of the other information is already available elsewhere on other great news and blog sites. As a result of these efforts, I am proud to say that the directory now covers 29 states and more then half the country!

The ThinkingAboutMoney blog had an interesting piece analyzing the state of the housing industry. Many pundits have proclaimed that there is a bubble and that it is bursting. Much of the evidence is related to the recent growth in the number of houses on the market and the reduction in the number of transactions, however, the question this article raised is whether that is a relevant measure of a decline in the housing market? Since housing prices have remained relatively stable, while price growth has slowed down, it may be that a reduction in the number of transactions is more consequential to realtors then the homeowners, in that now there are more realtors working fewer transactions.

Á la carte brokers are carving out a buffer zone between selling For Sale By Owner and traditional real estate.  Do-it-yourselfers have long sought an alternative to traditional real estate.  In 2000 the term Flat Fee MLS was almost unknown. A Google search produced minimal results.  Early flat fee companies got business by targeting for sale by owner sellers.  Today that is changing.  Consumers know what flat fee mls is.  Instead of stumbling on it, they seek it out.

This would seem to model other industries.  The success of Home Depot, Lowes, Schwab, and eTrade would tend to indicate that real estate should not be any different.  There is a huge do-it-yourself sector of real estate that needs tools and à la carte brokers offer those tools; they sell the hammer but the consumer gets to swing it.

The result is that consumers are saving hundreds of millions of dollars in commission.  Real estate sales are a 60 billion dollar industry and Flat Fee MLS is 2±% of the market or about 500-600 millions dollars in saved commissions annually.  One billion dollars in annual saved commissions is in site.

Staff Writer

The Milwaukee Journal Sentinel recently had a nice piece on the challenges that consumers still face when hunting for a house online. There’s lots of information and lots of websites, but the information that you really want may be hidden or in many cases not yet available online.

“A lot of information is hard to come by, such as lot size, (house) layout and square footage. I have to drive by a place to find out my truck won’t fit in the driveway and there’s no way I can do anything with the boat except put it diagonally across the front yard.”

This highlights one buyer’s struggles to find just the right place. Of particular note to this blog’s readers is that they also ended up going with a flat fee MLS broker that offered substantial rebates for buyers as well. The other key point that was raised was the additional information that is exclusively available to realtors in the MLS.

“Joy Busse was astounded at how much more property detail MLS supplies brokers than the general public.”

If this more detailed MLS information remains in the proprietary domain of Realtor-only access, then the real estate profession may well ensure that it continues to thrive for many years to come.

A flat fee broker based out of Lisle, Illinois with programs starting at $249 and they list on the Chicago Tribune website, as well as Realtor.com and the local MLS affiliate websites. The broker of record is Chris Broderick of Consumers Choice Realty, Inc and has been licensed since 2004. Their website offers helpful information, including an overview of some Illinois Legal Requirements

Consumers Choice Realty, Inc.
13246 S. Route 59
Suite 214
Plainfield, IL 60585
630-299-5000 – phone
630-299-5001 – fax

A flat fee mls broker based in Fayetteville, GA and that offers services in the Atlanta area. Their flat fee program starts at $399 and they have a creative program where if you or your buyer get their mortgage through Residential Mortgage Associates then they will rebate the entire fee. The broker’s name is Carolyn West and the license is #176989 which can be checked at the Georgia Real Estate Commission.

Total Choice Realty, Inc.
Carolyn West
License #176989
550 E. Lanier Avenue
Fayetteville, GA 30214
Fax: 770-716-5067
Phone: 770-716-5009
E-mail: carolyn@gaforsalebyowner.com

Although this site doesn’t clearly indicate what area they offer listings in, it does provide a license number and indicates that they are affiliated with the YourIgloo.com company. A check of the address on the contact page shows they are headquartered in Florida, and since they list their real estate license #BK3087954 at the bottom I verified that this is a valid Florida license. Note: The YourIgloo.com site also claims to be licensed in several states, but does not provide license numbers.

SalyByOwnerRealty.com has Flat Fee MLS packages starting at $399 and you can get more info at:

SaleByOwnerRealty.com
Steven Bob Koolik
License #BK3087954
530 S Federal Hwy, Ste 203
Deerfield Beach, FL 33441

Phone Toll FREE: 877-657-4298
Fax: 954-421-9897
Office Hours: 8am to 9pm EST

In Kansas, this company offers flat fee MLS listings for $399 for a 6 month listing. The person to contact is Edgar Davis of the Avenue Real Estate Group, license #SP00223410. For more information:

Edgar Davis
EdgarsList.com
Avenue Real Estate Group
(816) 298-0081
(913) 362-0727
ed@soldbyme.com

In the NAR blog they recently posted that the Cost of Selling without a Realtor is an average of $31,800. Based on the latest 2005 NAR Profile of Home Buyers and Sellers. This is based on the national average home price and the survey number indicating a 16% gain in price by using a Realtor.

“The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner; $230,000 vs. $198,200; there were no significant differences between the types of homes sold.”

I would love to know exactly how did they come up with these numbers? Moreover, as a follow up, another great study would be to measure the difference between Flat Fee MLS listed homes, and the average price gain on a home that is listed with a full service broker. Do full service brokers make a difference, or is it merely the marketing magic of the MLS that make this price gain possible?

Local broker in the Dallas/Fort Worth area offering flat fee listings on the MLS
from $299.

Available for property owners who wish to lease or sell their homes.

TX Broker #

On April fools, as would be appropriate, the Real Estate Cafe had a great blurb on the meaning of agency in real estate. It’s an often misunderstood subject that has little in common with the advertising agency, for example, that most of us are familiar with. In real estate, agency is basically about who you are working for – ie are you a buyer’s agent, or a seller’s agent?

Wouldn’t you know that this seemingly simple idea is greatly complicated by the common practices of the real estate industry, in which it is not uncommon for an agent to be both a buyer’s agent AND a seller’s agent in the same transaction… a conflict of interest, perhaps?

Ok, so you’re thinking that you just need to make sure that you have your own agent, right? Unfortunately, the potential for a conflict of interest doesn’t end there. The problem is that the general practice of the buyer’s agent being paid a commission out of the selling price is actually incentivizing the buyer’s agent to encourage the buyer to pay a higher price because then they get a higher commission.

So what do you do? As is often the case, there’s no easy answers, but a good please to start is the association of Real Estate Agents for Real Agency’s pamphlet on the subject.

This firm offers flat fee listings in Northern Illinois from $299.  They are a family owned and operated firm. 

Nick Patterson
Broker Owner
548 W. Roosevelt Road
Chicago IL 60607

Charleston Flat Fee Real Estate Company is a flat fee based real estate company representing homes for sale in Mt. Pleasant SC Real Estate and the surrounding Charleston SC Real Estate, and North Charleston SC Real Estate markets.

C. Kyle Cosper BIC/Owner
Charleston Flat Fee Real Estate

A flat fee mls broker based in Chicago, Illinois that offers services in the northern Illinois area. Their flat fee program starts at $349 and they claim to be part of a network that has listed over $400,000,000 in homes. The broker’s name is Bruce P. Golden and his license can be checked at the Illinois Department of Financial and Professional Regulation. Update: The second website listed below, from this same broker, has a cute dedication to his cat named Brandy.
illiniMLS.com / 4SaleMLS.com
Bruce P. Golden
773-248-4905
866-349-FSBO
list@illinimls.com

Multiple Listing Solutions offers services start at $299 for a 1 year listing, and you can upgrade to a featured tour package on Realtor.com for $179. Their website has some nice statistics and long list of testimonials. The broker of record is Fernando Corona, holding license #3027785. For more information:

Creative Realty Services, Inc. is a Virginia Real Estate Brokerage providing flat fee MLS listing services in the REIN MLS.

Sue Mellon, ABR Broker/Owner
Creative Realty Services
Ph: 757-286-1031
Fx: 757-369-0127
License # 0226 02021

A flat fee MLS broker based out of Boca Raton, Florida, offering services in 50+ Florida counties, covering most of Florida, including:

• BAY • HARDEE • ORANGE
• BREVARD • HENDRY • OSCEOLA
• BROWARD • HERNANDO • PALM BEACH
• CITRUS • HIGHLANDS • PASCO
• CHARLOTTE • HILLSBOROUGH • PINELLAS
• CLAY • INDIAN RIVER • POLK
• COLLIER • JEFFERSON • PUTNAM
• COLUMBIA • LAFAYETTE • SANTA ROSA
• DADE • LAKE • SARASOTA
• DUVAL • LEE • SEMINOLE
• ESCAMBIA • LEON • ST. LUCIE
• FLAGLER • MADISON • SUMTER
• FRANKLIN • MANATEE • SUWANNEE
• GADSDEN • MARION • VOLUSIA (NE)
• GLADES • MARTIN • VOLUSIA (W)
• GULF • MONROE • WAKULLA
• HAMILTON • OKALOOSA • WALTON

The broker of record is Richard Goldstein for HomesIndeed Realestate Inc., holding license #3019336 and #1020982. Pricing starts at $295 for a 6-month MLS listing.

HomesInDeed.com / NoStressMLS.com
7520 LA PAZ COURT
UNIT#109
Boca Raton, FL 33433
1-800-787-9054

Resource Realty service has been selling Atlanta residential property since 1991.

Richard Shelor
GA Broker’s License Number 276634
404 354-3417