Every MLS restricts FSBO homes from being included within their database. They do this for two (2) reasons:
Realtor.ca restricts FSBO homes from being included within their database for the same reasons.
According to statistical data, eighty five percent (85%) of homebuyers utilize their local area MLS and/or Realtor.ca to help them locate a home.
Not only does your MLS and Realtor.ca listing include your name and telephone number, but also language that instructs Buyers and Buyer’s Agents to call you directly.
Some real estate consumers (sellers) choose to “go-it-alone” and sell their homes without any assistance from a “traditional” real estate broker or a “Flat Fee” MLS broker. These sellers are referred to as "for-sale-by-owners" or "FSBOs".
In hopes of selling their home “on-their-own” and not paying a commission, the FSBO seller typically markets their home by "word-of-mouth", posting a yard sign and placing ads in local media and small niche, FSBO websites.
A recent review of these types of FSBO websites indicted that the industry average price for this type of FSBO service is a one-time, flat fee of approximately $300-$500. If the FSBO seller utilizes multiple newspaper ads and FSBO websites, the industry average price increases to $850-$950.
By listing your home in the MLS not only does it increase its exposure, it also advertizes your listing to a large pool of buyers, who use the services of real estate agent (Buyer’s Agent) but typically avoid FSBO listings.
Plus, by listing your home in the MLS network, iFlatfee.com publishes your listing on Realtor.ca; the official website of the National Association of Realtors (NAR).
It is generally accepted that many buyers, who are not working with a real estate agent (Buyer’s Agent), utilize Realtor.ca when looking for a home. Therefore, you (the Seller) dramatically increase your chances of selling your home to a buyer, who you have procured on your own (without the assistance of a Buyer’s Agent). In which case, you will not pay a commission to anyone.
iFlatfee.com believes the choice is obvious: “Flat Fee” MLS service is the better choice, since it provides your listing with greater exposure to potential buyers via the local area MLS and Realtor.ca.
While “Flat Fee” MLS services will never be a replacement for the services of a “traditional” real estate broker, the same cannot be said for the FSBO model. In our opinion, the “Flat Fee” MLS model is a “category killer” of the FSBO model.
The way we see it: it’s your choice, pay a one-time, flat fee and get exposure on your area’s local MLS and Realtor.ca or pay a similar one-time, flat fee and get exposure on small niche, FSBO websites. Basically, it’s a no-brainer.