Synopsis:Hire a company for the service of creating a flat fee listing on the multiple listing service or MLS.

Upside: In a word: exposure without the listing fee. Up front help with the paperwork that agents and their buyers will want to see when they look at your house. Someone to guide you through the listing process and some of the important considerations you should deliberate on. Also, if the seller has a Realtor™, that buyer’s agent will generally take control of the process to move things along because they’re motivated to get the deal done. You may sell your house to a buyer who has no Realtor™ is not represented, saving the commission (but introducing more complexity and uncertainty in that someone will need to select the title company and all of the negotiating and inspections will need to happen with certain timing and coordination). Some listing companies will put your house on Realtor.com or other sites as part of their package.

Downside: You’re still paying the buyer’s agent commission of about 3%. You’re dealing with most or all of what happens once it’s listed: showing or at least making your house available to buyers (including a lockbox, though some will provide this), negotiating and dealing with concessions. Depending on the company or package you buy, you may receive help in some of these areas. Outside of MLS and whatever else the listing company provides, you’re on your own for additional marketing, open houses and such. You may need to qualify buyers if they are not represented (read more in the FSBO pages by clicking on the left hand navigation bar).

Best usage: When you can’t stomach the fee for the listing agent and you believe your house is highly competitive on its own (it may be well priced and/or stand out). If you are experienced in real estate or highly willing to learn the process and methods involved, then flat fee MLS with no realtor may be for you.

The bottom line: Flat fee listing can be a good choice for good houses in decent or good markets. The MLS seems to be the main thing many Realtors™ rely on to sell houses and sometimes just putting your home up on the MLS is enough marketing to get the sale done. You really must know or be willing to learn the process and nuances that come with selling a house and understand some about the multiple listing service (or MLS) in your area. Learning this is not too hard, but it is not a common knowledge and you must put some effort toward it.