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Where are the flat-fee MLS listing services?

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There will be a new breed of Realtors, brought about by the general public vetting their service providers. The market needs you to speak. Weed out the bad, support the good. Biased so, here is probably the best that exists for flat fee selling: www.home-sales.ca
 

editor51

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I find it so funny how excited people are about selling their own home and thinking they can save a fortune. I recently sold my home; I listed it 2 weeks after a neighbour of mine listed his with one of these discount places. We had identical houses (although his was slightly bigger) and my house sold for 98% of what I asked for in one week. My neighbour still hadn't sold his. He called my agent who listed it for the exact same price and sold it in 4 days for $3,000 more than he was asking. In the end, we are both happy and considering I made a huge profit since I bought the house, I can survive with the cost of commission.
There are bad agents out there...the guy who had the agent go to Mexico and left him alone, you could have withheld commision and you should have called the broker and had her removed from the contract (yes you can do that). If you want an good agent, call your friends and family and ask them, that's how I found mine and I was thrilled.
As for the discount brokers, you pay them just to put your house on the MLS system, you still will have to pay the buyer agent a commission or else they won't bring their clienst there.
I find it funny that real estate agents are overpaid but nobody cares that they then take their deal to a lawyer that charges $1,000 for 2 hours of work. Maybe we start a service for discount lawyers? Then we would find out if you really do get what you pay for.
 

GPStar444

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I used a flat fee service to sell our condo this year. The agent was very clear from the beginning...he would charge .75% for himself, and a maximum of 2 - 2.5% for the buying agent. If there was NO buying agent, and a buyer was found only with the MLS, then the total fees would be .75% (for my agent). My wife and I did most of the legwork, we took photos, and arranged the open house schedule. Our agent did very little work, but we understood that from the beginning.

After 45 days, our condo sold (with a buying agent.) We ended up paying 3.25% commission total for both agents, which was far better than the normal 5%. We ended up saving about $7000 with the reduced rates. I would only recommend using a low-cost agent if you have time, engergy, and expertise yourselves to negotiate, and complete a transaction. Yes, it may seem easy for the educated real estate savvy people like me, but it can get very complicated and frustrating if you don't know the processes.
 

rbt

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I used a flat fee service to sell our condo this year. The agent was very clear from the beginning...he would charge .75% for himself, and a maximum of 2 - 2.5% for the buying agent. If there was NO buying agent, and a buyer was found only with the MLS, then the total fees would be .75% (for my agent). My wife and I did most of the legwork, we took photos, and arranged the open house schedule. Our agent did very little work, but we understood that from the beginning.

How was the contract negotiations handled? Specifically, did you make adjustments to the contract directly (striking out areas, adjusting numbers/schedules, and sending back) or did your agent still oversee the process.

A large number of agents screw up price adjustments when they impact deposit and mortgage details.
 
D

dofinancial

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Flat Fee MLS Listing in Toronto, Mississauga, Ottawa and GTA

Hello there,

I have found a discount real estate brokerage that will allow you to get access to the MLS (multiple listing service) without having to pay them any commissions. They will charge you $395 for the listing and provide you with a yard sign. You can learn more by watching a video here: http://www.do-financial.ca/flat-fee-mls/ ;)

If your house is in Toronto, Mississauga, Oakville, Milton, Hamilton, Brampton, Ottawa, Newmarket, Aurora, Markham, Richmond Hill, Whitby, Ajax, Pickering, Oshawa, Scarborough or most major centers in Ontario then they can help you list for the price noted above.

Cheers!

Steve
http://www.do-financial.ca/flat-fee-mls/
 
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I'm going to maintain a master list of discount real estate brokers in Ottawa. These brokers can list your house on MLS for a flat fee. Typically a small fraction of what a full service broker would charge you. Note that you still have to offer a commission to the buyer's agent. 2.5% is the current norm in Ontario.

I will update the list as more brokers switch over from the dark side :)

1. Best Value Real Estate

I believe he was the first broker in Ottawa (if not entire Canada) to offer a flat-fee MLS listing. The Ottawa Citizen called him "the most hated realtor in Ottawa". He used to charge $109 for a flat-fee MLS listing. The web site no longer shows the fee, so I'm not sure what he charges now.

2. Equity One Real Estate

$495 flat-fee MLS listing.

3. Wiktor Realty

$495 flat-fee MLS listing.

4. Ziglu Real Estate Brokerage

$500 flat-fee MLS listing.

5. The Usher Group

The web site doesn't list the fee. I heard they charge a flat fee in the $300-$400 range, but this requires verification.

6. Flat Fee Realty

$995 flat-fee MLS listing.

7. MVA Capital Realty

$500 flat-fee MLS listing.
 

drewp

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If a homeowner decide to use a flat fee brokerage in the Ottawa area, it would be a waste of time. The reason why is because when realtors look for properties for their clients, they look at TREB for what the co-operating brokerage is offering. I will tell you that any home listed with an Ottawa brokerage will not be registered in TREB. All of those 30000 agents in the board will never be looking at this property, which is waste for the vendors. There is a reason why it is the cheapest, because the netowrking system of TREB will never be apart of the equation, hence the house will never get the exposure it needs to sell the house.

If flat fee is an option make sure it is registered brokerage with the TREB.
 

ESPNGuy

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I know of someone who will do a flat 3.2% total 2.5 to the buyer and .07% to the listing agent in Toronto

That is the closest I have seen to discounted. Seems alright
 

mig174

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oh please, don't call yourselves a profession. A couple of courses and you're now a professional? You're no more qualified than a used car salesman, it's just that your transactions involve more money. Some people's self-importance is a little too inflated.
 

drewp

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oh please, don't call yourselves a profession. A couple of courses and you're now a professional? You're no more qualified than a used car salesman, it's just that your transactions involve more money. Some people's self-importance is a little too inflated.

who are you talking to?
 

Jewel

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This guy www.flatfeeanthony.com puts your home on the MLS and Toronto Real Estate board for 499.00. I do not think these other flat fee companies are listing on TREB. There is no point listing your home for sale if it is not on the Local Real Estate board...
 

cdr108

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This guy www.flatfeeanthony.com puts your home on the MLS and Toronto Real Estate board for 499.00. I do not think these other flat fee companies are listing on TREB. There is no point listing your home for sale if it is not on the Local Real Estate board...


thanks for spamming the forum with multiple posts of the same thing ...
 

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