The Pros and Cons of Flat Fee Listing - And Why Listing With Best Edmonton Real Estate Is a Pro
In late October 2010, the Canadian Real Estate Association approved an agreement with the federal Competition Bureau that lets home sellers pay for only the services they want from a real estate agent
Currently, the vast majority of real estate sales are handled by full service agents who charge commissions ranging from 3-6% of the selling price. But Canadians can now hire a REALTOR® to simply list their property on MLS® (Multiple Listing Service) for a flat fee of a few hundred dollars or less.
Obviously, going this route can save money. However, there are advantages and disadvantages to consider.
Flat fee advantages:
- You still get an MLS® listing while saving tens of thousands of dollars!
- You retain control of the entire transaction.
- If you sell to a buyer who doesn’t have a REALTOR®, you pay no commission.
- You can often cancel the listing at any time.
- Well suited to experienced sellers who can invest a lot of time.
Flat fee disadvantages:
- You have to determine a marketable selling price.
- You may have to photograph and measure your property for the MLS® listing and put up your own sign.
- You have to take care of all the details, including staging the home; attracting buyers; qualifying buyers; scheduling appointments; showing the home; taking an offer; negotiating price and terms; writing the contract and disclosures; coordinating inspections, financing and title work; and keeping everything on track for closing.
-If you sell to a buyer with a REALTOR®, you’ll probably have to pay a commission of a few thousand dollars.
-There’s the worry that you may overlook some law or regulation.
-Chances are, unless you’re a good marketer, your home will take longer to sell.
Best Edmonton Real Estate offers you a variety of choices, allowing you to have the best of both worlds; you choose the services you want to do yourself and leave the hard stuff to us. We won't leave you wondering if you've priced your house right. We'll provide you with accurate,honest market information so you can price your house well to sell. It is, in the end the homes that are priced right for their condition , their location and the market that sell fastest. Selling your home quickly saves you money and relieves you from the steady stream of strangers roaming through your home and the constant struggling to keep your home in show home condition while also working and trying to plan a move.
You should, however, bear in mind that if you want REALTOR®S® to work hard to show your home, you will need to offer a commission to the selling agent. Now think on that for a moment. Since, with flat fee listing services, you'll be saving thousands in commissions, you might want to incentivize the selling agent by adding a bonus for selling your home within a specified number of days. This will get more prospective buyers through your home and might cause the buying agents to work harder. It's not required but if you really want to move your home quickly, that might help.
Call us for full details on our Flat Fee Listing Service. You'll be glad you did. We're far better than ComFree and we give you more bang for your buck!