How To Hire A Realtor Without Paying A Commission

How To Hire A Realtor Without Paying A Commission

If you are selling any form of real estate and have considered hiring a Realtor to assist you, don't. At least not until you have read this short article. After reading this artcile you will know how to hire a Realtor without paying a commission. In fact, you will only be paying your Realtor several hundred dollars to list your property!

A Realtor's most successful marketing tool is called the Multiple Listing Service. It is often referred to it's abbreviated form, the "MLS". The MLS is a large database of properties for sale. MLS systems are governed by private entities, therefore there are thousands of these databases throughout the country. They are usually broken down by county or metropolitan. A large percent of all homes sold are sold using the MLS. Only licensed Realtors can put a listing in the MLS.

When you sign a contract to pay a commission to a Realtor for selling your property, they will immediately list your property in their MLS. Listing your property in the MLS is by far the single most important marketing that a Realtor will do with your property. A Realtor may also perform other marketing techniques, such as puttting up a "For Sale" sign, an ad in the local paper or on the Internet, print flyers to attach to your "For Sale" sign, etc. However, those marketing techniques can be done by anyone. Anyone can place an ad in the local newspaper or on the Internet, print a flyer, or place a "For Sale" sign. The one marketing technique that requires a licensed Realtor is placing a listing in your local MLS. It is also the most successful marketing technique that can be done when listing your property.

The secret is to get a local Realtor to place your property in the local MLS without paying them a commission. There are several companies that have this service readily available. These companies have compiled the services of Realtors throughout teh United States in most counties and states to place a "For Sale by Owner" property into their local MLS for an upfront fee rather than a commission!

The company I work for calls our service "Flat Fee MLS". You may also hear it referred to as "MLS by Owner". No matter what you call the service, it all works the same. A Realtor will list your property in the local MLS just as in the traditional process. However, because you will paying only a small flat fee rather than a commission, you do some of the work that Realtors traditionally do; such as show your own property, take your own photos, buy your own for sale sign, place ads on the Internet, and negotiate your own selling price and contracts. Your Realtor will forward all inquiries about your property to you and keep your listing current in your local MLS and on Realtor.com. By doing some of the leg work, you by-pass the listing broker's commission completly! You will save thousands when your property is sold.

Please note that although the listing Realtor's portion of the commission is not paid, any Realtor who has a potential buyer will only show their buyer your property if you promise them a commission of some sort. Usually, that is about 2.5% - 3%, but may be lower depending on the cost of your property and the market that you live in. With the flat fee MLS service, you reserve the right to not show your property to buyers who are using a Realtor. Most people welcome any buyer, but the choice is yours.

With the flat fee MLS service, you will either be paying only a few hundred dollars and no commission (if your buyer is not using a Realtor) or a smaller commission equal to about half of the traditional commission (if your buyer is using a Realtor and you agree to sell to that buyer). Regardless, your savings will be well worth the few hundred dollars you pay for the service.