According to the National Association of Realtors, For Sale By Owner (FSBO) listings account for 10% of all homes sold in 2022. However, this figure does not include the thousands upon thousands of listings that were sold with a Flat Fee MLS Listing, also known as a Limited Service Listing. If you’re looking for Ohio For Sale By Owner options, you’ve come to the right place. Let’s take a closer look at some of the main benefits of listing your For Sale By Owner home with a Flat Fee MLS Listing rather than working with a traditional real estate agent.
You’ll Have More Control Over the Process
Selling a home can be a disruptive experience for you and your family. With a traditional agent, the scheduling of open houses and private viewings typically revolve around the agent’s schedule rather than your own. Traditional agents also tend to “list and sit”, meaning they list your property in the MLS and wait for someone else to bring the Buyer. Their listing agreements do not specify how many open houses they will host, or even how much of the commission you have agreed to pay will actually be offered to a Buyer Brokerage if another agent brings the Buyer!
It is not uncommon for a Listing Agent to agree to list a property for 5-7% and only offer 1-2% of that fee to the Buyer Brokerage! In short, you will be living on someone else’s timeline for as long as it takes for them to sell your home and most often you are locked into a six-month contract that you can’t cancel even if you are unhappy with their service or decide you no longer wish to sell the property. When you incorporate a Flat Fee MLS Listing – Limited Service Listing program into your marketing plan, you will remain in the driver seat with complete control over contract negotiations, compensation, pricing, scheduling, and more. In fact, you can even cancel your Ohio Flat Fee MLS Listing – Limited Service Listing program at any time if you so desire. This additional flexibility and control can save you thousands of dollars while making the experience a lot less stressful!
Is For Sale By Owner More Profitable for Sellers?
If you know anyone who has listed an Ohio house, land, or commercial property as For Sale By Owner, you may have some familiarity with the concept of selling your property yourself. Most people who opt for a For Sale By Owner listing cite the economic impact of the decision as a major benefit. Depending on how much your property sells for, you can save tens of thousands of dollars by selling on your own. A traditional Realtor often charges a 7% commission of the sale price, whereas listing with an Ohio Flat Fee MLS Listing or Limited Service Listing program can drastically reduce that amount. Ohio Broker Direct has sold numerous properties in which we received a lead, directed it to the Seller, and there were no Buyer Brokerage commissions at all–just the flat fee that was paid up front!
Why Some Buyers Seek Out For Sale By Owner Homes
Just as it is more economical for you to sell your home yourself, the same is true for buyers. This is why Ohio houses listed with a Flat Fee MLS Listing – Limited Service Listing program on behalf of the Seller are an attractive option for a certain subset of home, land, or commercial real estate buyers. These Buyers know they will be directed to the Seller and benefit from negotiating directly, and that commissions will not be a part of the equation. Additionally, many Buyer Agents tend to place their wallet before the best interests of their customers and refuse to reduce their extremely high commissions if necessary to help ensure the Buyer is able to procure the property they wish to purchase. This in of itself proves that working with the property owner directly is often less of a hassle than adding a Buyer Agent into the mix.
If you’re thinking about selling your home, land, or commercial property in the near future, it only makes sense to take a closer look at the many benefits of modifying from a traditional For Sale By Owner listing and incorporating a Flat Fee MLS Listing – Limited Service Listing program to enhance your marketing strategy and ultimately increasing your bottom line. Contact us today at Ohio Broker Direct and let us help you make the experience of selling your real estate as stress free as possible.
