What is a Flat Fee MLS?
First let us learn the basics, who is the seller? The Seller is the person who intends to sell and rightfully owns the property prior to the conclusion of the sale.
What about the buyer? The buyer is the person who intends to acquire the property either by financing through a lending institution or by cash. The advantage of a cash payment is it closes the sale faster and at times will give cash back to the buyer for some X amount of monetary remuneration for actively participating in the hastened closure of the sale. This incentive may not be true to a lot of brokers but there are those who offer this benefit. It could mean some savings from a couple of hundreds to some number of thousands of money.
Lastly, what is a broker? A broker is a person who sells or buys properties or business and is compensated with a percentage of the proceeds of the sale or with a flat fee. It is commonly practiced that a broker is compensated five (5%) percent or six (6%) percent of the proceeds of the sale as commission. In certain cases they offer a flat fee that is rather unconventional but still potentially profitable.
If you are a buyer and you want to maximize the funds you are getting through the financing of a lender or even if you are paying for cash it is advisable that you work with a broker that offers a flat fee in facilitating the sale of a property. As discussed above, the usual percentage acquired as commission by the broker is five to six percent of the total proceeds of the sale. If we are talking about a 100,000 worth in proceeds it may mean 5000 to 6000 in commission. Looking at this example, it gives you a glimpse on how a real estate agent/ broker are able to live comfortable life. Profitable isn't it? Now if you think of saving you can get a flat fee MLS agent that will get you a fix amount to pay for the services instead of commission to maximize the funds. Instead of paying 5000 to 6000 of the money to the broker you may be permitted to just pay 299. The difference is still a lot of money if you think of it.
Be wise. Depending on your circumstance use your will to select what is best for you. Look into this as well http://www.welistfree.com/
What about the buyer? The buyer is the person who intends to acquire the property either by financing through a lending institution or by cash. The advantage of a cash payment is it closes the sale faster and at times will give cash back to the buyer for some X amount of monetary remuneration for actively participating in the hastened closure of the sale. This incentive may not be true to a lot of brokers but there are those who offer this benefit. It could mean some savings from a couple of hundreds to some number of thousands of money.
Lastly, what is a broker? A broker is a person who sells or buys properties or business and is compensated with a percentage of the proceeds of the sale or with a flat fee. It is commonly practiced that a broker is compensated five (5%) percent or six (6%) percent of the proceeds of the sale as commission. In certain cases they offer a flat fee that is rather unconventional but still potentially profitable.
If you are a buyer and you want to maximize the funds you are getting through the financing of a lender or even if you are paying for cash it is advisable that you work with a broker that offers a flat fee in facilitating the sale of a property. As discussed above, the usual percentage acquired as commission by the broker is five to six percent of the total proceeds of the sale. If we are talking about a 100,000 worth in proceeds it may mean 5000 to 6000 in commission. Looking at this example, it gives you a glimpse on how a real estate agent/ broker are able to live comfortable life. Profitable isn't it? Now if you think of saving you can get a flat fee MLS agent that will get you a fix amount to pay for the services instead of commission to maximize the funds. Instead of paying 5000 to 6000 of the money to the broker you may be permitted to just pay 299. The difference is still a lot of money if you think of it.
Be wise. Depending on your circumstance use your will to select what is best for you. Look into this as well http://www.welistfree.com/
Source...