The very idea of Flat Fee MLS is new to Canada. In the past brokers weren’t able to present homes on MLS.ca for a set fee. Why was this a problem? The answer is simple it’s believed that approximately 80% of homes purchased in Canada are listed on MLS.ca. This in essence pressured homeowners to contract the expertise of a licensed real estate agent in order to sell their home in a reasonable period of time.
There are actually several differences between flat fee service and full service. The commission that you pay for selling is split between the 2 brokerages, traditionally on a 50/50 basis.
Flat FEE MLS refers to the commission of the Listing Broker, who offers MLS services for a Flat Fee. Flat Fee means, that Listing broker’s fee just isn’t a percentage of the selling price, it is fixed. However the cooperating brokerage could also work on a flat fee, in the current context of Flat Fee, we have been only discussing Flat Fee for the Listing Brokerage. The Flat Fee varies from brokerage to brokerage and so do the services offered.
Some brokers, provide you full service at a much lower price than the conventional five or 6 percent of the sale price. Some offer low Flat Fee MLS but no other support or hardly any support. Many others have a combination of small fee that covers some costs of providing a MLS service and then the total fee is heavily discounted. There’s also a trend where instead of buying the bundled MLS service, you may buy only those services that you’ll need.
As soon as you decide to explore additional options for a MLS listing, compare agent’s resumes; look for their education, training, status in the real estate industry, their experience and expertise. Check their credentials on the net by typing their names within the Google search box. The agents who do not show up within the search results, for all matters, don’t exist. Go with the ones, who pass these tests. You may believe that you need to do not need their help or expertise; on the other hand, should the situation arises and you may need expert advice, it shall be too late. So be a wise consumer. If you are looking to read more information about mls edmonton listings have a look at this website.
Now that you understand Flat Fee MLS listing, when the time comes to sell your property, you will be well prepared and equipped with proper questions to ask; you will be able to identify and pick the services you want and also save money in the process.