Flat Fee MLS Reviews | Why do you need a reliable company? (2023)

ISoldMyHouse.com:Thank you for agreeing to be interviewed as your feedback on using our flat rate MLS listing service. Firstly, why did you decide to sell your home?

Santiago and Maria:We really didn't want to move, but James got a promotion at work, but he had to move out of state to do it. We love our home but could have used more space so it ended up being for the best. We just didn't want to go through the hassle of selling it.

ISoldMyHouse. com:That makes sense, they say moving house is one of life's most stressful events. How and why did you decide to sell the MLS Flat Fee "FSBO"?

Santiago and Maria:Mary had the idea of ​​selling FSBO to save some money and started researching online and found many disadvantages of selling a house by owner but they were all written by realtors or realtor assistance companies.

Upon further research, he discovered that these agents don't like to show FSBOs because they don't get paid. That's when he stumbled upon the MLS flat fee concept and the benefit of saving the listing agent's commission but still offering the buyer's agent's commission. It seemed like a perfect compromise and we thought it would work out well for us.

ISoldMyHouse.com:It's the perfect compromise as long as you offer a standard brokerage commission. Have any of you had experience with selling a home?

Santiago and Maria:We had a small condo that we had when we got married and we listed it with a realtor about 7 years ago, we sold it thinking the whole process wasn't particularly complex. In fact, Mary thought about getting her real estate license, but she never did, so I guess she always had an interest in the business. But none of us had sold a house before.

ISoldMyHouse.com:We agree that the process isn't too bad if you follow the right steps in the right order. Now that you've decided to sell yourself and found Flat Rate MLS to be the right approach, how did you decide which Flat Rate MLS company to work with?

Santiago and Maria:Well, we're experts at researching our options so we don't rush things and end up regretting it. James was busy with work so I went online and started researching and reading as much as I could. That's how I found ISoldMyHouse.com. I can't remember what was the first piece of content I read on your site, but I kept reading it over and over because it was so helpful, I still can't believe how much information there is on your site.

So I started reading the reviews and what would be considered the "fine print" of ISoldMyHouse.com and its competitors. There are companies that offer a lower price online but have a lot of extra costs or bad reviews, and probably most importantly, their websites aren't helpful so we knew they were just trying to take our money.

We realize that ISoldMyHouse.com is a reliable and well-established company that only wants to help its customers sell their home. That's why we decided to work with you.

ISoldMyHouse.com:Thank you for choosing us and for all the kind words! How did you prepare to sell your home with an MLS flat fee?

Santiago and Maria:Well, as you know, Mary does all the research. He followed the advice on his website and put the house up for sale following all current best practices and so we hired a professional photographer to come out and take pictures of the house. We can't emphasize enough how worth it is to make these two items and spend a few hundred dollars more.

Mary also watches the market and knew we needed to price our home appropriately. We had some neighbors who tried to sell without success, asking for a lot of money. They told us before they moved that once they were listed again at the correct price they would sell in a few weeks.

So Mary suggested what she thought was a reasonable list price but I was greedy and wanted more money and said add $10,000 to the asking price. She reluctantly agreed but said let's see how it works and quickly adjust our price if we don't sell.

ISoldMyHouse.com:Sounds like you took the right steps to prepare and had a plan. Once your home was on the market, how was the selling process for you?

Santiago and Maria:After our MLS fixed price list was launched, we got three submissions in the first week, which we think is good. Agents contacted us and set up a time to show the house, most showings were in the afternoon or early evening. We didn't want to stay in the house with guests, so we put a closet in the door for them to enter. I recommend that the agent send you a copy of their business card so you can verify who they are before handing it to them. the combo to your home.

After the demos, I called the agents to find out what their buyers thought. Two of them said they liked our house but were still looking, the other agent couldn't reach him.

After that first week, no more visits were planned and we received no further inquiries. So...we decided to lower our price to what Mary originally suggested! That was it, once we found the right price, we had 4 more features and 2 offers to choose from over the next few days! One offer came from a buyer who worked with an agent and the other from a buyer who didn't work with anyone.

ISoldMyHouse.com:Good job on taking corrective action quickly and attracting buyers to your home. How did you decide which offer to accept?

Santiago and Maria:Well, we made a point of accepting the buyer's offer, who worked alone. Of course, we would have saved a lot more money if we didn't have to pay buyers commission. But their offer was not that strong and after consulting our lawyer about the offers, she advised us to accept the offer from the buyer who works with an agent.

Our attorney said there was a greater chance the deal would fail if we took the other offer because they didn't put up a lot of money, they had an awkward pre-approval letter, and they wanted a lot of time for inspections and mortgage risk.

Overall, the buyer we worked with was very strong and presented their offer well. The agent they worked with was very professional and represented their clients well and made the process easy. In the end, we don't mind paying your commission.

ISoldMyHouse.com:Wow! This is actually a good thought process that seems to work for you. How was the closing of your house?

Santiago and Maria:Very smooth thanks to our lawyer who did all the work behind the scenes. Buyers have asked that some items be repaired prior to completion, but we would have liked the same repairs done if we had purchased the home. We didn't even have to attend closing, we met our lawyer the day before and signed all the paperwork. She called us after closing closed and told us the deal was done.

ISoldMyHouse.com:This shows the value of working with a good real estate attorney. So perhaps the bigger question, how much money did you end up saving? Was it worth the extra work to sell with a general MLS listing?

Santiago and Maria:It was definitely worth it, it wasn't bad dealing with the hassle of selling without a listing agent. I'm not saying that owner selling is for everyone, but if you're a smart person who wants to save a lot of money, go for it. We ended up selling our house for $378,000, which means we saved a total of $9,450 at the 2.5% we would have paid for a realtor's commission! I strongly recommend selling a home on an MLS plan and I will never do it any other way.