What is flat fee? What is the cost?
You may have heard the term, “Flat Fee Listing”, but many don’t know what it really means. Flat Fee home selling entails a set fee that is charged for both the listing and sale of a home.
How much is the flat fee? $399 is paid up front when the home is listed. This amount covers the agent’s time, professional photography, signage, MLS coverage, marketing and internal expenses in getting the home up for sale. At the time of a successful closing, there is a flat fee of $1,500 that includes legal representation, negotiating and facilitating your home sale. This flat fee structure is saving today’s homeowner thousands, if not tens of thousands of dollars based on the sales price. As technology, marketing and communication continues to advance; this model has become a far more superior option in today’s economy. Homeowners are in dire need of an advantage and cost savings when trying to sell their home. The flat fee model has proven to be the most efficient solution for today’s homeowners who are looking to get their home sold fast, for top dollar and with the least amount of hassle. Exsell Real Estate Experts save their clients an average of $7,800 per sale vs. listing and selling with a traditional Real Estate Brokerage.
What is “MLS”?
MLS stands for “Multiple Listing Service. It is the main database where ALL Realtors input the homes that they’re listing. Our local MLS allows us to push out new property data to national and local 3rd party websites which include: Realtor.com, Trulia.com, Zillow.com, and Real Estate Brokerages throughout SE Wisconsin. This information is then shared with all 3rd party Real Estate websites to help you sell your home with ease. MLS gives your home the most exposure by allowing for those websites and brokerages to procure interest in a subject property. ALL of Exsell’s listings are posted on MLS as full service listings. This is the exact same way traditional Brokerages in our area post their listings.
Why is it Important to be Listed in MLS?
- Over 94% of all properties sold in the US are as a result of MLS listing exposure. MLS is the main source of property information distributed locally and nationally. It is the “main tool” used in the real estate marketplace.
- As explained in #2, being listed in MLS means that all the local realtors and those with MLS access can find a seller’s home in their local MLS database.
- Also, once listed in MLS your property is distributed and syndicated for sale on hundreds of local and national real estate sites such as Zillow.com, Trulia.com and Realtor.com and more.
- In addition, our MLS listings are also distributed to all other local brokerage websites in order to sell your home with ease. All local brokerages share information in an effort to procure a sale for your home.
MLS listed properties sell faster and at a higher price than non-MLS listed properties.
Why is flat fee better that listing with a traditional Realtor charging 5 or 6%.
Selling with a Full Service Flat Fee Brokerage is better than selling with a Traditional Brokerage that charges you 4%, 5% or even 6% because the Seller
receives the same exact representation, marketing and exposure on MLS, the same respect, customer service and expertise. The only difference is that we save sellers thousands of dollars!
Fact: The average savings a seller receives by listing and selling with Exsell is $7,800!
Why is a Realtor needed to list a home in MLS?
Being a member of MLS requires responsibility and proper legal credentials. An individual can’t simply post an “ad” in MLS, like placing an ad in a newspaper. MLS requires each member to hold a valid real estate license in which must be current. MLS also requires each real estate agent to be a member of a local real estate board in which the agent currently practices. All brokers are to abide by MLS rules and procedures. The Real Estate Broker is responsible for the accuracy of the listing, the record keeping of listing agreements, and all sales documents. Every seller must have an active listing agreement with an agent in order for their home to be listed in MLS. When each seller lists their home for sale, the realtor that they work with will be representing and assisting them from start to finish. That agent will be responsible for MLS entry along with any and all changes to the original listing agreement, such as price reductions or a change in the listing terms.
Why list on MLS with a “Flat Fee Broker” vs. listing “For Sale by Owner”?
When listing “For Sale by Owner” (FSBO), Sellers are only reaching a small percentage of buyers in the market (15% – 30%). In addition to the lack of exposure, Buyers know the Seller is saving money by not listing the home with a Realtor, so they feel they can negotiate a better deal. Statics show that FSBO’s actually net LESS money when selling by owner vs. listing and selling with a Realtor. When listing and selling with Exsell, $1,899 gives a Seller full exposure to all of the Buyers and Realtors on the market; therefore, giving sellers the best chance to net more sale proceeds.
Is Exsell a full service real estate brokerage?
Yes! Exsell’s full service listing program has proven to successfully accomplish everything needed to sell your home, save money and ultimately sell it faster! As a matter of fact, the homes we list sell on an average of 19 days quicker than the local big name real estate companies. Even better, we save our sellers an average of $7,800 per sale!
How much will it cost to sell a home with Exsell?
There are three separate fees in selling a home. The cost of listing and selling a property with Exsell is a flat $399 up front and $1,500 at the time of a successful closing. In all real estate transactions in the state of Wisconsin, there is a 2.4% commission (of the sales price) paid to the Realtor (from any real estate company including Exsell) who brings in and procures a buyer for the home.
If I find the Buyer, do I still have to pay the 2.4% commission?
No. If you find the buyer yourself, you do not need to pay the 2.4%, plain and simple!
Does Exsell help when I receive an offer?
Yes! We have a team full of expert negotiators who are here to represent your best interests and get you the absolute best deal possible. We will walk you through the entire process from start to finish. We draft all counter offers and amendments, schedule third-party inspections and appraisals, and work with the title company in getting all paperwork squared away for a smooth transaction. We are ready to answer any questions you may have along the way and are in communications with you right up until the day the deal is closed!
How long is the listing contract?
As long as you would like it to be! In our contract, you can have your home on the market as long as you please. We’ll re-list your property at no charge for as long as you own the property. We are here to do the absolute best job possible and to be fair. With that we offer “Exsell’s No Obligation Contract Policy”.
Will other Realtors show my home?
Absolutely! We still offer other Brokers the standard 2.4% co-broke commission to sell your home, just as if they were to sell one of their own listings. We focus on saving our clients’ money on the selling side of the transaction and still promote and market to the 20,000+ realtors throughout Wisconsin, along with the national sites across the US.
What marketing is implemented in selling my home?
When it comes to the marketing and exposure of your property, we go all out. Every single real estate website that realtors and buyers are searching on, your home will be listed on too. Whether it’s local, statewide or nationwide; it’s our job to make sure that anywhere the buyers are looking, your home will be right in front of them. In addition to third party sites, MLS and Brokerage sites; we also advertise our listings on social media platforms such as Facebook and Instagram.
Is my home marketed and listed on other Brokers websites?
Definitely! Even if buyers are looking and searching on other realtors’ websites throughout Wisconsin, your home will show up right in front of them. Other Brokerages such as Shorewest, Coldwell Banker, Remax, and First Weber operate great websites and property search functions; so if you’re listed with Exsell, you’ll show up EVERYWHERE!
Does Exsell have a showing or scheduling service?
Exsell utilizes state of the art technology and the most up to date systems. When we list your property, you’re set up with our showing system in which schedules, communicates, confirms and updates you on all showings that are facilitated. Even better, the system also gives you feedback after each showing to let you know what the potential buyer and realtor thought about your home. This can help us determine if we need to make any price adjustments or any other changes that might help sell your home faster.
Does Exsell provide the signs, lock boxes and marketing material?
Yes! We make sure to give you the most attractive, eye-catching marketing pieces. We offer large, eye catching yard signs; arrow signs and other details for potential buyers to inquire via phone or internet. We also offer a combination lock box so that only realtors have private access to open your home upon your approval for showings.
Are there any additional feed, hidden costs or surprises?
Absolutely not! The only costs associated with listing and selling your home is the flat $399 up front, and $1,500 at the time of a successful closing. In addition, if a Realtor procures the buyer, then you would pay 2.4 % of the sales price to them.
Does Exsell take good photos of my home when it gets listed?
Yes! When we list your property, we do everything to maximize marketing efforts to get the home sold. We hire a professional real estate photographer to take stunning photos of your home to showcase its absolute best features and attributes. With the age of technology and over 97% of buyers and realtors looking at homes online, your “first showing” happens when they see the photos of your house. If they like what they see, they’ll be contacting us to go see it in person.
Does Exsell stage properties or have access to a professional stager?
We don’t personally stage homes, however our agents will have very good insight on the staging to-do and what not to-do’s. If you’re interested in hiring a professional stager, we’d be happy to pass on some referrals.
Are your fee’s negotiable?
Lucky for you, we’ve already tailored our selling prices to be at the absolute lowest price possible. Thus, giving you the best savings and opportunity to sell your home faster, all while saving you thousands!
Does my realtor stay in contact with me throughout the time my home is listed?
Yes! At Exsell, we understand and respect our client relationships and know that communication is very important. With all of our listings, we do a bi-weekly review in which we go over all of the questions you may have, discuss feedback reports, marketing activity, recently sold and new listings that are in your neighborhood. On top of that, we go over pricing strategy, marketing ideas and plans to proactively get you an offer.
Does Exsell also represent buyers?
Absolutely! Even though our business model is tailored towards sellers, we still work with a very large number of buyers. We have so many properties listed that we also have a great pool of buyers who could possibly be interested in your home. In most situations, we are so successful in selling our client’s homes, that we are also the ones who then represent them on the buying side of their next transaction.