Flat Fee Broker Omaha
The flat fee broker represents a low cost option for sellers wishing to utilize the multiple listing service, better known as the MLS, and
save on real estate commissions by taking on much of the work marketing the
home. What is often called a "flat fee broker" is really a "fee for service broker" that charges an up front fee to let a For Sale by Owner access the multiple listing service (MLS). It looks good on paper, but usually doesn't pan out in practice. The fee for service broker provides no services for the "fee" other than data entry on the MLS. The seller is responsible for all other facets of the listing and sale process. Unless the seller is experienced, like a retired real estate agent, it is difficult for them to provide the quality of marketing that their competition will have.
The flat fee broker makes his money on the front end by entering data, not
selling a house. Also, other services, such as enhancements to the listing,
signs, lock boxes, flyers, photography, call forwarding, document preparation,
buyer's agent's commission, etc. are typically sold individually, even those
services that are required by law! Another disadvantage to the program is the
amount of commission paid to the buyer's agent is often higher than average.
Many times the buyer's agent has to act in both capacities, as a selling agent
and a listing agent, because under the fee for service model the seller is
normally representing themselves. The higher commission helps to entice agents
to show the property.
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Discount commissions for sellers.
Cash rebates for buyers.