7 Top Flat Fee MLS Companies in Washington State

Pros and cons of using a flat fee MLS listing service

Pros of using a flat fee MLS listing service

• Eliminates the listing agent commission: You save on the typical 2.5% to 3% commission that would normally go to the listing agent.
• Self-representation in the sale: You have the autonomy to represent yourself and make all critical decisions.
• Control over the sale process: Manage every aspect of your home sale from listing to closing.
• Upfront cost transparency: Pay a known, upfront fee for listing services without hidden charges.
• Widespread exposure: Your home gets listed on the MLS and prominent third-party websites, increasing visibility to potential buyers.
• Direct access to buyers’ agents: Enhances your home’s exposure to traditional buyers through their agents.

Cons of using a flat fee MLS listing service

• Commission to buyer’s agent required: While you save on the listing agent’s commission, you must still offer a competitive commission to the buyer’s agent.
• Self-managed sale: You are responsible for managing all aspects of the sale, including potential issues that could delay or jeopardize the deal.
• Lack of expert guidance: Operating without the aid of a local real estate expert can make navigating the sale more challenging.
• Potential legal risks: Handling the sale yourself can expose you to liability claims and other legal complications.
• Possibly lower sale price: Homes sold without a traditional agent often fetch lower prices than those sold with agent representation.

How do I list my home with a flat fee MLS service?

Here’s a simple guide to listing your Washington home using a flat fee MLS service:

Step 1: Vet the flat fee MLS service
Start by researching local flat fee MLS services. Check their rates, packages, and reviews on sites like Google and the Better Business Bureau. Confirm the details of what’s included, such as the number of photos, listing information, available forms, and costs for any additional services.

Step 2: Register and select a plan
Visit the chosen service’s website, register an account, select your desired package, and pay the fee online to get started.

Step 3: Enter your property information
Fill in details about your property and upload photos. Complete any necessary disclosure forms if provided by the service.

Step 4: Read and sign your listing agreement
Carefully read the listing agreement, making sure you understand the terms, especially regarding cancellations and commissions. Sign the agreement to proceed.

Step 5: Review your live listing
After your listing goes live on the MLS, it will also appear on real estate websites like Zillow, Trulia, and Realtor.com. Check these sites to ensure your listing is accurate and fully represented; adjustments might take a few days to appear.

Are flat fee MLS listings effective in Washington State?

In Washington, the effectiveness of flat fee MLS listings is significant due to their integration with local MLS databases, which are the backbone of most online home search tools.

This widespread utilization ensures that your listing reaches the vast majority of potential buyers, as both individual homebuyers and real estate agents depend heavily on MLS data to find up-to-date property listings. This makes it a powerful marketing tool for sellers looking to maximize exposure.

Alternatives to flat fee MLS services in Washington State:

If a flat fee MLS service doesn’t seem like the right fit for your home-selling needs, consider these alternatives:

Option 1: Flat fee agent
Engage a flat fee real estate agent who offers to list and manage your sale for a flat rate, typically between $3,000 and $5,000, possibly with additional charges for extra services. This option suits homeowners who desire more control over their sales but still need professional guidance.

Option 2: Discount brokers
Utilize a discount real estate broker, who charges a lower commission compared to traditional agents but still provides essential services. Keep in mind, that you’ll need to pay the full buyer’s agent commission, which could be a significant cost.

Option 3: Full-service, experienced real estate agent
List your home with a top-performing local real estate agent who offers comprehensive services and leverages their expertise and local market knowledge to sell your home faster and for a better price potentially. This option is best for those seeking full support and maximum market exposure.

Will I save money with a flat fee MLS listing service?

Using a flat fee MLS service in Washington will definitely reduce the amount you spend on commission fees. However, it’s important to consider the potential impact on your final sale price.

According to research from the National Association of Realtors, homes sold by owners (FSBO) tend to fetch about 23% less than those sold through an agent. While the median sale price for FSBO homes was around $300,000, it was over $400,000 for agent-assisted sales.

While a flat fee MLS listing can be a cost-effective tool, selling your home as FSBO might mean less profit when all factors are considered.