Choose Your Realtor Wisely: Eight Tips to Finding a Flat Fee Broker
One of the most important tasks you will have to complete when you are in the process of listing your property is hiring a broker. Unfortunately, it is also the task that will cause the most problems if you don’t pick the right person. Here are eight tips to help you find a MLS listing broker and make your selling experience smooth and stress-free.
1. Research, research, research. You simply cannot do enough research when it comes to choosing a Flat Fee Broker. If you hire a bad company, you might as well have advertised your property yourself. Read reviews, ask for references and seek recommendations from friends and family members. All of these actions will help you make a wiser choice.
2. Get referrals from your known buddies or colleagues, who often come in contact with both good and bad companies. If any one of them is working with a real estate agent, ask him or her to give you a prime contact to let you get in touch.
3. Narrow your list down to only those brokers that are licensed and have some experience of listing properties in MLS. You do not want to lose time and money by hiring a listing broker who has no idea of what so ever is required to list in MLS. This can result in financial loss of your property on sale.
4. Check any Flat Fee MLS listing company or broker you are considering hiring with the local Realtor association and the Better Business Bureau. These organizations will offer you information on previous complaints and licensing information. If you can’t find a company or a broker with complaints or on negative listing with these organizations, avoid it at all costs. They might not be a legitimate company at all.
5. Do not choose a broker without getting an estimate on their MLS listing fee and sales commission from at least three companies. You simply cannot get an accurate price quote without having someone from the company or the broker physically come out to you and explain the process involved in MLS listing.
6. Make sure you get “Binding Not-to-Exceed” fee from each broker or listing company that comes out to give you a listing fee. This means the price will not change from the time your quote is given to the time when you actually decide to list your property in MLS database. It also guarantees your price will not go over a specific amount.
7. Do not choose a company based on price alone. While price is certainly an important factor in your decision, it should not be the only factor. MLS Listing fee that are exceptionally low are probably bogus, indicating a scam. So rather than going after the low fee solution go with the listing broker who understand your requirement well within your limits.
Trust your instincts. If something does not feel right with a certain flat fee broker or Flat Fee MLS listing company, do not choose that company to list your property to be put on sale. It simply isn’t worth it.
Jim Shawn is a shrewd consumer who loves writing on real estate, personal finance and consumer topics such as: Flat Fee Broker,Flat Fee MLS and MLS Listing.
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