Flat Fee Versus Full-Service

The following are common questions that the traditional agents propose to Flat Fee customers.

Statement: A consumer will not be able to sell their house using a Flat Fee service? This is a False Statement. Response: In my experience and as with many others using a Flat Fee service is simple. The proper legal forms provided are simple and easy to complete and if there are questions the support of the agency is there to assit you. Whether it is flat fee or full-service, the home owner has to provide information to the listing agent, get the house ready to sell, decide the bottom line, and keep the house clean. Flat Fee selling is not for everyone and but the money saving incentive is what this is all about.

A Real Estate Agent charging full commission will get a higher price for your house. This is a False Statement. Response: The Multiple Listing Service (MLS). sells your home not your agent and a property priced to reflect the current market and comparables will sell.

The full service agent can get a higher price in the negotiation process with a prospective buyer. This is a False Statement. In a commission-based sale, the faster the agent sells a house the faster they get their money. If they sell a house for $15,000 less than market value, you lose $15,000 and they only lose 3% of the $15,000.

Full service agents boycott showing "all" houses that are for sale by flat fee MLS companies. This is a False Statement. Response: This is completely illegal and this agent can have a complaint filed against him/her with the local real estate commissioner. In today's market most buyer's are internet savy and review the house before they get to their agent. In other words, the agent cannot say 'NO' I will not show you the house.

The full-service agent states: "I have a prospective buyer for your house if you let me list it."Response: The seller never needs to sign an 'Exclusive Right To Sell' contract. If an agent has a buyer, they should be willing to negotiate a deal outside of listing your home.

 

 

 

Resources

There are several resources available discussing the Flat Fee Program Model. Refer to the Dept of Justice Site for more information. More >>


Seller Information:

The only individuals that can input a home in the Multiple Listing Service (MLS) is a licensed real estate agent. All agents have a License number and can be verified on the California DRE website at California DRE Website License Check .

A seller can decide how much commission to offer as part of the MLS listing process and is stated in the MLS listing. The commission is not negotiated on an agent by agent basis. Dalton Real Estate recommends offerring a comission between 2 to 3% though 2.5 is the norm but remember you will be competing with others for agent's attention.

Dalton Real Estate can provide additional services including contract review, negotiation and close of sale. These services are subject to addtional fees. Please contact the Main Office at 805-496-6132 for more information.

When your home is listed in the MLS all local agents will be notified of your listing. Remember over 80% of buyers are represented by agents; agents who use the MLS.

 

 

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