MLS Entry Only Listings are the most cost-effective way to market your home on MLS. This concept was introduced as a limited service listing so sellers could save on sales commission when selling real estate. Most agencies in Massachusetts do not offer this type of listing because it literally reduces the commission amount a real estate broker can make on a deal.
In a traditional real estate transaction, their are two sides to a sales commission. Generally speaking, the selling side takes one half and the buying side takes the other half of the total commission based on the net sales price of the property. For example. Alice contracts Bob the broker of ABC Real Estate Company to sell her home. The total commission is 5% of the net sales price. Alice and Bob the Broker decide to list the property for $500,000. Alice, the seller, and Bob the Broker create a listing agreement before he starts marketing Alice’s property on MLS. Bob the Broker is ready to take photos and enter the property information into MLS. In order to put the property on MLS he is required to offer compensation to a Buyer’s Agent. Since Bob the Broker has contracted Alice for 5% he will offer 2.5% to any licensed agent if they bring him a ready, willing and able buyer who closes. Bob the Broker gets an offer from a Buyer’s Agent for 498,000. Alice accepts the deal. Since Bob the Broker contracted Alice for 5% of the net sales price the total commission is $24,900.00. Bob the Broker takes half of the total commission $12,450.00 and the Buyer’s Agent takes the other half of $12,450.00
Our MLS Entry Only service automatically cancels out the listing side ($12,450.00) of the total commission so in this instance the traditional commission amount of 5% becomes 2.5%. If a buyer is not represented by an agent, our sellers pay NO commission.
We allow our MLS Entry Only sellers to determine how much they want to offer. This amount can be a percentage of the sales price or a flat fee. We leave it up to the seller to decide what is best for them.
Check out our new MLS Entry Only site.