The traditional route when selling your property has been to hire an agent for a percentage fee based on the sales price of the home, often 6.0 percent. However many are starting to question whether this fee is worth it, especially when the homeowner is already knowledgeable about real estate transactions. For this reason, Insight Realty now offers a flat fee listing for a low one-time upfront payment of currently $289.00 for a MLS listing for 6 months in the Pittsburgh / Western Pennsylvania area.
When Insight Realty does a flat fee listing, the property is listed on the same MLS that the major brokerages use. The seller gets to select the amount of compensation to pay to the buyer’s broker, for example, 3.0 or 2.5 percent.
Once the property is listed at the price that you select, all area agents will know about the listing and the offer of compensation to bring a buyer. The MLS is the main way that real estate agents know about properties. The MLS is a much more powerful way to market a property than other for-sale-by-owner websites like Zillow or Craigslist. Unless your property is listed on the MLS, most agents won’t even bother showing it to their buyers. Remember, most buyers are represented by an agent.
Insight Realty will also provide you with a professional yard sign that contains the information about the MLS listing and how to contact you. Buyers’ agents will contact you directly and schedule appointments. For an additional fee, Insight Realty can provide you with a combination lock box that allows you to not be present when the Buyer’s agent goes to show your property, which is how the agent is used to showing properties listed on the MLS.
With a flat fee listing, Insight Realty would be a transaction licensee, which allows Insight to only provide the essential real estate functions without having to charge the higher fees of a seller’s agent. The buyers’ agent will then submit an offer directly to you and you will evaluate and negotiate it.
A flat fee listing is best for someone who is already knowledgeable about real estate transactions in Pennsylvania and is comfortable doing most everything themselves. A flat fee listing can save quite a bit in a transaction.
Insight also offers a reduced fee full-service representation for clients who desire professional guidance and full representation in their real estate transactions.
David M. Tkacik, Esq. is a real estate broker and attorney in the Pittsburgh area and specializes in commission rebates and saving clients money.
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