Pros and cons of using a flat fee MLS listing service
Pros:
The advantages of using a flat fee MLS service for your Rochester FSBO sale include:
- Avoid paying a listing agent commission (typically 2.5% to 3%).
- Maintain full control over your home sale, from pricing to negotiations.
- Pay a flat, upfront cost for MLS access with no hidden fees.
- Get your home listed on the MLS and syndicated to third-party websites.
- Increase your property’s exposure to traditional buyers and their agents.
Cons:
The disadvantages of using a flat fee MLS service include:
- You’ll still need to offer a commission to the buyer’s agent.
- Managing the sale, including showings and negotiations, is your responsibility.
- No professional guidance, which could lead to pricing mistakes or legal risks.
- Potential for costly delays or deal issues without an agent’s support.
- Homes sold FSBO often sell for less than those listed with an agent.
How do I list my home with a flat fee MLS service?
Once you’ve chosen to sell FSBO with a flat fee MLS service in Rochester, follow these steps to get your home listed:
- Research flat fee MLS companies
Compare local services, pricing, and package options. Check online reviews and verify the company through the Better Business Bureau. Review how many photos you can upload, available forms, and any extra fees. - Register and choose a plan
Sign up on the company’s website, select your preferred package, and pay the upfront fee. - Enter property details
Fill in your home’s description, upload photos, and complete any required disclosure forms. - Sign the listing agreement
Carefully review and sign the agreement, ensuring you understand cancellation policies and commission obligations. - Review your live listing
Once published, check your listing on real estate sites like Zillow and Realtor.com to confirm accuracy. It may take a few days to appear.
Are flat fee MLS listings effective in Rochester?
Most homebuyers start their search online, and real estate websites pull listings directly from the local MLS. This makes the MLS one of the most effective ways to market a home, even in a FSBO sale. Additionally, buyer’s agents rely on MLS data to find properties for their clients, meaning your home is more likely to be seen by serious buyers. Listing with a flat fee MLS service ensures your home gets the same exposure as agent-listed properties.
Alternatives to flat fee MLS services in Rochester:
If a flat fee MLS service isn’t the right fit for your home sale, consider these alternatives:
- Flat fee real estate agent
A flat fee agent charges a set rate, typically $3,000 to $5,000, rather than a percentage of the sale price. This option provides some professional guidance while allowing you to maintain more control over your sale. Be sure to review the contract for any additional fees. - Discount real estate broker
A low-commission agent or discount broker charges a reduced commission while still offering some level of agent support. While pricier than a flat fee MLS service, this option may provide valuable assistance with negotiations and paperwork. - Local real estate agent
A full-service agent brings market expertise, pricing strategies, and a network of local contacts to help sell your home efficiently. While traditional agents charge a commission, they can often maximize your sale price and streamline the process.
Will I save money with a flat fee MLS listing service?
A flat fee MLS service can help you save on commission costs, but it may not always result in the highest sale price. Research from the National Association of Realtors shows that FSBO homes sell for about 14% less than those sold with an agent. The median FSBO sale price was just over $380,000, compared to more than $435,000 for agent-assisted sales.
Additionally, nearly 40% of FSBO sellers list their homes to sell directly to a friend or neighbor, with a median sale price of just $345,000—nearly $100,000 less than agent-represented sales. While a flat fee MLS can increase exposure, it’s important to weigh potential savings against the risk of a lower sale price.
What if I need to sell my Rochester home fast?
If you need to sell quickly, options like a We Buy Houses company or an iBuyer can help. These companies can purchase your home in almost any condition, often closing within days. However, they typically offer less than what you’d get on the open market, so you may sacrifice some profit for speed and convenience.
Another option is HomeLight’s Simple Sale, which connects you with cash buyers for a fast closing or helps you find a top agent who can assist in an expedited sale. Whether you need a quick, no-hassle transaction or want expert guidance, there are ways to sell on your timeline.
What else should I know about selling a house in Rochester?
While there are no specific restrictions on using a flat fee MLS service, Rochester home sellers must comply with local disclosure laws. Selling a home FSBO means handling complex contracts and legal requirements, which is why hiring a real estate attorney is highly recommended. An attorney can help ensure all disclosures are properly completed and minimize the risk of legal issues after closing.
Key points to remember:
- Flat fee MLS services require an upfront payment, regardless of whether your home sells.
- Some services change names frequently, making it difficult to track their success rate.
- Many flat fee services list the seller’s contact information directly, meaning you’ll handle more buyer inquiries.
- Unlike traditional agents, these services often don’t provide dedicated support throughout the sale.
- While flat fee services charge a fixed rate, traditional agent commissions can sometimes be negotiated.
Selling FSBO requires time, effort, and knowledge of the real estate process. A flat fee MLS service can help by increasing your home’s visibility, but it also means handling pricing, marketing, negotiations, and paperwork on your own. Before choosing this route, consider these key points:
- Flat fee MLS services provide MLS access but require an upfront payment, regardless of the sale outcome.
- Sellers must comply with local disclosure laws and may benefit from hiring a real estate attorney.
- FSBO homes often sell for less than agent-assisted sales, which could offset commission savings.
- Handling buyer inquiries, showings, and negotiations without professional guidance can be challenging.
If you’re unsure whether FSBO is the best option, HomeLight can connect you with a top Rochester agent who can help maximize your home’s sale price.
Editor’s note: This post is meant to be used for educational purposes. Links and mentions of Rochester flat fee MLS companies in this post do not constitute an endorsement.
Header Image Source: (Yassine Khalfalli / Unsplash)
