The Miami property market is not showing any signs of slowing down. In January of 2022, home prices were up by 16.9% year-over-year, selling at an average price of $450,000.
Sellers have been cashing in on the more seller-leaning market, experiencing profits that have not been possible in recent history. This booming market has also led many sellers to consider a for sale by owner sale using a flat fee MLS to expedite and simplify the process.
These flat fee listing services give buyers access to the services offered by a listing agent but without the price tag. If you use a flat fee MLS Miami sellers recommend you could even sell quicker than the average of 79 days on market.
Should You Consider Listing Your Miami Property With a Flat Fee MLS?
The property market has been good to Miami homeowners. Only for those gains to be devoured through listing agent commissions, making what appears to be a lucrative sale significantly less profitable. Because, if you are like many Miami property sellers, with an average $450,000 home and a listing agent with a 3.5% commission, you’re forfeiting $15,750.
Considering that the nearly $16,000 sum is not a small number, it’s not surprising that you may be searching for a viable alternative. Enter the flat fee MLS Miami.
Unlike a traditional FSBO sale, using a flat fee MLS, you gain access to buyer agents through a broker-facilitated process. Buyer agents then show your property to their buyers. From there the process mimics what you would expect when using a traditional agent, culminating in the sale of your home.
If your home sells to a buyer with a buyer agent you pay the buyer agent a predetermined commission, usually less than 2.5%. However, if it sells directly to a buyer, you can keep 100% of the sale’s profits.
Doing it this way, you won’t get the step-by-step assistance of a full-service real estate agent, but you do gain more control of the process.
The Top 5 Flat Fee MLS Miami Sellers Use to Achieve Lucrative Sales
Miami home sellers are some of the savviest in the country, using flat fee MLSs more frequently to leverage the lucrative property market at a discount.
This is why if you want to achieve any success with a flat fee MLS, you have to use the flat fee MLS Miami sellers do.
In 2021, Houzeo.com had $3.5 billion worth of properties listed on the website. That figure has confirmed Houzeo’s position as America’s preferred flat fee MLS and has made them a favorite flat fee MLS Miami sellers use.
The reason for this most likely stems from Houzeo’s leading automation and comprehensive features that simplify the For Sale by Owner Websites sale.
Some of their most notable features include:
- A completely automated and online process supported by an iOS and Android app.
- Accept, request, and counteroffers from your seller dashboard.
- Get control of the buyer agent’s commission and select one from 0.25% to 4%.
- Get syndication to the MLS within two business days.
- Selling directly to buyers, allowing you to remove the buyer agent commission.
Flat Fee Group
Flat Fee Group is a nationwide service that connects sellers to independent brokers in their state. The group’s years of experience have allowed them to tailor their features to the FSBO process. Although they are considerably more expensive than another flat fee MLSs and have limited automation. That said, some of their stand-out features include:
- Free Website for your listing.
- Free Lockbox and for sale signage.
- Access to a local brokerage.
Homecoin celebrates and liberally advertises its cheapest listing cost in the flat fee MLS space. At only $95, they are the most cost-conscious solution for FSBO. Although they do make up for that cost in a variety of hidden fees and upsells. Nevertheless, some of their benefits include:
- 12 month listing period.
- A transaction that is 100% online, supported by a web app.
- Control over what you pay buyer agents.
Beycome has truly become a favorite flat fee MLS Miami sellers swear by. It’s unsurprising as they have prioritized automation and customization, giving sellers more control of the process. Some of their advantages include:
- A platform that prioritizes selling directly to buyers.
- Photography session to get HDR property photos.
- Open home signage.
Jack Keller Inc. Realty
Jack Keller Inc. Realty is a discount flat fee MLS that enables you to list on the MLS for $75. However, their reputation among sellers varies. This is why as a flat fee MLS Miami sellers sometimes swear by them; sometimes sellers would rather avoid them – which is evident by their 3.8-star rating. But, if you are willing to take the risk for only $75, you get access to the following:
- Ability to pay a buyer agent only $1 if you choose.
- Free contracts, addendums, as well as to disclosures.
This list showing the five flat fee MLS Miami sellers use should help you decide where to list your property. It’s critical that when you list, you do your due diligence because you’re entrusting the sale of your property — your greatest asset — to the flat fee MLS. This means that being cheap may cost you later through fewer offers and a difficult closing. For that reason, you should only choose the best-rated flat fee MLS.