7 Flat Fee MLS Companies in North Carolina to Sell Your FSBO Home

What North Carolina sellers might benefit from a flat fee MLS service?

If you’re selling a home in North Carolina, you may be wondering, “Is a flat fee MLS listing service the right choice for me?” The answer is: it depends. Here are some indications a flat fee MLS service might be right for you:

• You’re determined to save on real estate commission.
• You have the time and energy to spend on the home sale process.
• You’re comfortable or even passionate about selling a house on your own.
• You have real estate experience or understand the home sale process well.
• You feel that no one else can understand all the features of your unique home.

Here are the type of sellers who typically aren’t a good fit for a flat fee listing service or FSBO selling:

• Sellers who aren’t willing to put significant time and energy into the sale.
• Sellers who are strapped for time and need a prompt sale.
• Sellers who aren’t familiar with selling homes or property.
• Sellers who haven’t considered all of the costs that go into selling a home alone.
• Sellers who don’t understand the laws, documents, and responsibilities surrounding North Carolina home sales.

It’s important to understand that sellers using a flat fee company must be willing to take on a variety of tasks normally handled by a real estate agent, such as:

• Determining the right selling price for your home.
• Writing an enticing listing description.
• Taking photos of your property, inside and out.
• Marketing your home.
• Coordinating showings and open houses.
• Handling negotiations and counteroffers.
• Understanding the terms of your contract.
• Navigating any issues that may come up with the appraisal or inspection.
• Getting the required documentation together.
• Providing appropriate disclosures.

Pappalardo points out that a real estate agent will alert a seller to excise tax charged by North Carolina, prorated property tax, and the fact that an attorney must oversee closing.

Pros and cons of using a flat fee MLS listing service

It’s always a good idea to weigh the pros and cons of a decision. Some of those for a flat fee MLS listing service include:

Pappalardo says, “FSBO sellers are looking to net more money, but statistics show that most are netting less.”

Even as a FSBO seller, most likely, you’ll still be responsible for the buyer’s agent commission, which typically will cost 2.5% to 3% of the home’s sale price, along with the usual closing costs and FSBO fees that an agent typically covers.

How do I list my home with a flat fee MLS service in North Carolina?

If you have decided to list your home with a flat fee listing service, the next steps might look something like this:

Step 1: Research a few companies, comparing rates and service packages.

Step 2: Contact the service through their website or phone and provide information about your property. Many flat fee companies offer an online process to get started.

Step 3: The flat fee company will make your listing live on the MLS, which means it will be visible to buyer agents but also placed on other real estate websites such as Zillow, Trulia, and Realtor.com.

Step 4: Take calls and schedule showings.

Step 5: Field offers from the buyer agents or prospective buyers and negotiate a deal.

When you first place your home with a flat fee MLS service, it can take a couple of days or longer to populate. It’s a good idea to review how your listing is displaying on real estate sites to be certain it’s correct and complete.

Are flat fee MLS listings effective in North Carolina?

A flat fee MLS service can be effective. Because the local MLS is one of the best ways to market your home and get your home in front of buyers, it’s crucial to list your FSBO home on the local MLS.

However, the NAR reports that FSBO home sales are not a popular option — accounting for only 10% of home sales last year. Not only are FSBO homes a minority of those available, but also, nearly 90% of buyers purchase a house using a buyer’s agent, meaning FSBO sellers still likely have to pay the buyer’s agent commission. The same NAR data also shows that real estate agents are more effective when it comes to securing higher net proceeds.

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Alternatives to a flat fee MLS service

There are a number of other ways to sell your house. Here are a few:

Option 1: Flat fee real estate agent

A flat fee real estate agent offers to list and sell your home for a flat rate rather than a percentage of the home sale. A flat fee agent might be a good option for a homeowner who wants to retain more control of their home sale, including pricing, marketing, and negotiations. Without the incentive of a full commission, however, there is a chance that your house may sell for less because a flat fee agent may not spend as much time and effort marketing and showing your property. In addition, everything else may be extra: lockboxes, signage, photos, etc. Read your listing contract carefully to find out exactly what services a flat fee agent provides and if there are any additional fees.

Depending on the quality and experience of your agent, you also may not receive guidance about disclosures or other aspects of the sale.

Option 2: Discount real estate brokers

You can seek out the services of a low-commission or discount real estate broker. These companies or agents are typically more expensive than flat fee MLS service, but they will accept a lower commission than most traditional agents — often 1%, 2%, or a negotiated flat fee. Most times, they still provide many of the basic services and support you might receive from a full-commission agent, with extra services sometimes available for an additional fee.

Keep in mind that you will probably still need to pay the full commission to the buyer’s agent.

The pool of discount brokers is limited, and you’re unlikely to get as much support from a limited services agent — although some state laws define the minimum service they must provide. But, you can save money if you’re willing to take on some of the duties of selling your home.

Option 3: Full-service, experienced real estate agent

A top real estate agent does a lot more than just getting your home listed on the MLS. An experienced agent who has sold homes in your area has the advantage of knowing current market trends, leveraging local connections with contractors and sales contacts, and will have the proven skills to sell a home faster with the best results.

Some of the top benefits of using a full-service, full-commission real estate agent or broker include:

• Accurate pricing to fit market conditions.
• Potential to sell your home at a higher price.
• Network of skilled professionals.
• Can help you prepare your home.
• Appraisal expertise for the best valuation.
• Can guide you through inspection pitfalls.
• Elevated marketing and broader visibility.
• Takes pressure and workload off the sellers.
• Contract savviness to avoid delays.
• Professional negotiation skills.

“FSBO sellers lack outreach,” Pappalardo says. She believes an agent’s networking capability makes the commission well-earned.

Our data shows that the top 5% of real estate agents across the U.S. sell homes for as much as 10% more than the average real estate agent. HomeLight can help you find the right agent to sell your North Carolina home. Our platform analyzes millions of transactions to find top agents who sell homes faster and for more money than average agents in your area.

Will I save money with a flat fee MLS listing service?

A common question sellers might ask is: Will my home sell for less if I use a flat fee MLS service, or will I really save money?

According to Pappalardo, a FSBO seller has to swap out either time, hassle, or money. In other words, it’s possible to save money with a flat fee MLS listing service, but only if you’re willing to put in extra time and effort.

You also forgo the expertise of a professional real estate agent who could save or earn you money by pricing your house right and negotiating with potential buyers.

A National Association of Realtors (NAR) report indicates that the median sale price for a FSBO home was $225,000, compared to $330,000 for properties represented by an agent.

What if I need to sell my North Carolina home fast?

Another option for selling your home is to seek a cash offer from a house-buying company, such as an iBuyer or a We Buy Houses investor group. Depending on your circumstances, a cash offer might be a good option.

One of the most convenient ways to sell a home fast is HomeLight’s Simple Sale platform. You can skip repairs, showings, and commissions and receive a no-obligation cash offer in as little as a week. If you accept the offer, you can close in as few as 10 days.

What else should I know about selling a house in North Carolina?

North Carolina sellers of residential real estate are required to complete the Residential Property and Owners’ Association Disclosure Statement to divulge conditions and defects with the property.

In addition to listing defects, sellers must disclose HOA covenants and dues, natural hazards, oil and gas rights, planned community construction and pending litigation, and health and safety issues, including lead-based paint, radon, toxic mold, and asbestos.

North Carolina state law requires that a licensed attorney oversee the closing process, although this doesn’t have to be done in person.

Ready to sell your North Carolina home?

There are pros and cons to selling your house by owner in North Carolina. If you choose to take on the duties of a listing agent, you’ll want to explore the option of flat fee MLS companies to get your property seen by a wide audience.

Each provides a different level of service for varying costs, so select the level of service that works best for you. Remember, Pappalardo advises, “Flat-fee services don’t guide and counsel you.”

Keep in mind that most FSBO houses sell for less than an agent-assisted home sale. And don’t forget that as the seller, you are responsible for all disclosures and other required paperwork.

If you do decide to sell your home yourself — with or without a flat fee MLS service — you’ll want to make sure you do your research first, so that you fully understand the logistical and legal obligations of selling property.

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