As more and more for sale by owners (FSBOs) research online whether it makes sense to sell their home without a Realtor, or pay a full real estate agent commission and list for sale with a traditional brokerage, the Multiple Listing Service (MLS) data paints an interesting picture.
When looking at single family home sales in Plymouth, MA, as well as condominiums in Plymouth, being sold as flat fee MLS entry only listings versus traditional full commission listings, the flat fee MLS listings show that homeowners in Plymouth Massachusetts may be well served to consider a FSBO approach and try a flat fee MLS listing.
Single Family Plymouth Homes Using Flat Fee MLS Listings
Investigating what transpired in 2012, we can look at the MLS statistics for Plymouth single family homes that sold using a flat fee MLS entry only listing versus being sold using a full commission listing from a traditional real estate brokerage.
- Number of listings sold: 15 flat fee MLS versus 586 full commission
- Average living area (square feet): 1,998 flat fee MLS versus 1,935 full commission
- Average list price: $342,347 flat fee MLS versus $322,461 full commission
- Average list price per square foot: $183 flat fee MLS versus $174 full commission
- Average days on market (DOM): 165 flat fee MLS versus 159 full commission
- Average sales price: $329,927 flat fee MLS versus $308,624 full commission
- Average sales price per square foot: $175 flat fee MLS versus $166 full commission
While traditional listings, where the seller pays a full commission to both the listing agent and the buyer’s agent, are more popular in sheer numbers than flat fee MLS entry only listings, where instead of paying a listing agent a commission a seller pays a flat fee to get their home into the MLS and then pays a buyer’s agent commission only if the buyer is represented by an agent (and perhaps no commission whatsoever if a seller finds their own buyer), flat fee MLS entry only listings are getting more price per square foot in the same market.
So far in 2013, the numbers tell a similar story, but one that is even more in favor of a homeowner taking a FSBO approach and selling their own home without a Realtor using a flat fee MLS listing.
- Number of listings sold: 9 flat fee MLS versus 458 full commission
- Average living area (square feet): 2,058 flat fee MLS versus 1,890 full commission
- Average list price: $413,611 flat fee MLS versus $326,907 full commission
- Average list price per square foot: $208 flat fee MLS versus $180 full commission
- Average days on market (DOM): 108 flat fee MLS versus 157 full commission
- Average sales price: $406,000 flat fee MLS versus $313,933 full commission
- Average sales price per square foot: $203 flat fee MLS versus $172 full commission
In 2013 thus far, not only are flat fee MLS listings garnering more in Plymouth on a price per square foot basis, flat fee MLS entry only listings are also selling 50% faster than full commission listings from traditional listing agents.
Price points for entry only MLS listings are ticking up not just because the market in general is trending upwards, but because more sophisticated sellers with more expensive homes in Plymouth are realizing that they can sell for more, and faster, if they learn how to FSBO.
Why call it a “flat fee” MLS listing?
The flat fee term derives from the fact that a FSBO pays a one-time fee to list their property in the official local MLS. Once a property is listed in the MLS, it’s exposed to thousands of buyers starting their search on the Internet, and with the MLS system and its contents being syndicated to thousands of websites, including all the big ones like Realtor.com, a FSBO using a flat fee MLS listing can be confident that their property will get maximum exposure.
In addition to single family homes, you can also leverage Entry Only New England to list flat fee MLS Plymouth condominiums for sale, as well as apartments for rent, Plymouth land for sale, or even multiple family properties. Learn more about how flat fee MLS works and list now in any town or city across Massachusetts.