Real estate market can be an intimidating place for anyone who is considering selling their property by themselves. From listing your property on real estate sites to finding a promising buyer and negotiating a favorable deal, it can be really challenging to manage all aspects of the transaction yourself.
If you are listing your home as a For Sale By Owner, you are highly likely to have very low visibility, which would severely diminish your success rate. Also, FSBO homes usually sell for significantly less, on average 6% less than the homes sold by real estate agents.
On the other hand, if you choose to avail the services of realtors, you must be prepared to pay a brokerage commission of 5% to 7% of the home’s value. Sounds daunting, right? But don’t be disheartened. There is a middle path that can help you crack the deal you want without completely depending on real estate agents.
There are several Flat Fee MLS in South Carolina that can significantly ease your burdens. A Multiple Listing Service (MLS) is essentially an online resource for real estate agents where they list and share properties with other agents.
These local MLS databases help the realtors find available listings and are used by home search sites such as Zillow, Trulia and Realtor.com, to pull information to display on their sites. As a result, local MLS proves to be a powerful tool to market your property to buyers.
However, there is a catch! MLS can only be accessed by real estate agents and not by individual sellers. So, if you have not hired a real estate agent and your home is not listed on your local South Carolina MLS, most buyers and realtors won’t even know that your home is up for sale!
What can you do to overcome this disadvantage?
This is where a flat fee MLS listing service can become your ally.
A Flat Fee MLS listing service will list your home on the local MLS for an upfront fee. You can either choose to end their services there or take further assistance for an additional charge. Either way, most of the home selling process will be under your control. Should you require more guidance or assistance, you can select specific services from an ‘a la carte’ menu of these South Carolina flat fee MLS.
For instance, if you are feeling lost with the paperwork or contract, you can purchase the services where you will be assisted with the documentation work. Several flat fee MLS, South Carolina also offers marketing services like professional photographers or yard signs for some additional fee. Based on your requirements, you may purchase a suitable plan from these flat fee MLS listing services.
What are the Pros and Cons of Flat Fee MLS?
Although flat fee MLS sounds like a perfect plan, there are always two sides to the coin. Let’s try to understand the pros and cons of using flat fee MLS in depth.
One of the biggest advantages of flat fee MLS listing services is that you will be able to save thousands of dollars. Let’s assume that the value of your home that you’re trying to sell is $300,000. If you pay a standard commission rate of 6% on this home value, you will end up paying $18,000 in commission costs. Even if you work with a listing agent who charges a 3% commission, you will have to shell out $9,000 as a commission fee. This is an exorbitant amount as compared to the meager fees of flat fee MLS listing services that usually charge between $299 and $399.
Another advantage of taking these services is that you will be able to retain your control over the various home selling processes such as pricing, your marketing strategy, and negotiations. For those, who want to oversee the entire process themselves, this is an ideal situation. And, if at all you need some guidance or assistance, you may purchase specific services as per your requirements.
Coming to the cons of these services, the biggest downside of depending on a flat fee MLS is that you will have to shoulder all the responsibilities that are usually taken care of by the real estate agents. The realtors have extensive experience and skills to conduct market analysis and fix an accurate price for your property.
They are adept in handling legal documents and have sound networking, which helps them to manage the entire process efficiently. Selling a home can be an exhausting and overwhelming experience, especially for those who have never done the job before. Moreover, if you make errors in paperwork or fail to fully disclose an issue with your home, you might land in trouble. This is where the experience of real estate agents comes in handy, as they have the knowledge of legal requirements essential for each step in the selling process.
You must also beware of any hidden fees or unexpected charges while choosing a flat fee MLS listing service. Some of the South Carolina flat fee MLS listing services may advertise for amazing offers, but they might charge you additionally on signing up with them.
How to Select a Flat Fee MLS in South Carolina?
To find the best flat fee MLS in South Carolina for yourself, you must take a few factors into consideration while researching. Look for the flat fee MLS listing services that have a network of licensed realtors with access to the majority of MLS databases in South Carolina. Selecting such a flat fee MLS will ensure that your listing will appear in most of the South Carolina MLS databases. The higher the exposure, the greater will be your success rate.
You must also look for robust customer support as you might need assistance during your home selling journey. Consider those flat fee MLS in South Carolina that have multiple ways to contact them and those who offer terms for instant cancellation, should you decide to change your mind.
Selling your home may look like a monumental task in the beginning, but if you research extensively and seek help from the right sources at the right time, your journey might turn out to be incredibly rewarding.