6 Common Mistakes Made By Homeowners Listing Their Homes with a Flat Fee NJ MLS Broker

What to avoid when considering using a flat fee NJ MLS listings broker

If you are selling or contemplating selling your home, you have likely come across websites that offer you For Sale by Owner, or FSBO, NJ MLS listings. When selling your home you have two choices; you can choose to sell it yourself, or you can hire an NJ Real Estate agent who will, among other services, place your home in the NJ MLS or you can hire a flat fee broker who will market your home for a set fee.

Prior to submitting your home for sale in the NJ MLS listings with a flat fee Realtor, be aware of the disadvantages listed below:

Some traditional Realtors will not expend any effort to sell your home

Your details will be available to any potential buyer, however if they do not take it upon themselves to contact you the chances of selling your home are greatly reduced compared to using a traditional NJ MLS listings agent to represent your property. Remember you will also be responsible for doing all the research on your FSBO MLS. This means you will need to write up an accurate description of the property, listing all features as well as take excellent photographs of the interior and exterior of your home. These are things a traditional NJ Real Estate agent is trained to do.

Many flat fee brokers are not always available

Every flat fee seller will need to be in touch with their broker at some point in the sales process. Agents and buyers will also call the broker, even when the NJ MLS listing instructs to call the seller directly for showings and information. If the brokerage is not available or does not answer their phone, the seller misses an opportunity to have their home potentially sold. In addition, it is important to call the office directly to see if your call is answered by a real person or a voicemail. More than one flat fee broker is known for refusing to take calls once a listing is entered, requiring all communication via email, and homeowners need to know this before they pay.

Forgetting to read all forms before you pay

Homeowners should ask to see any and all forms necessary to have themselves represented in the sale of their home. Some brokers refuse to provide this information based on the fact that they will not be giving out their intellectual property to competing brokers.

Not being placed in the appropriate local NJ MLS Listings

Many home sellers have been listed in the wrong NJ MLS listing for their area. With an excess of 800 MLS in the United States it can be confusing to a seller as to which NJ MLS listings is right for them. Flat Fee Brokers are known to put listings in nearby MLS systems because they might be less expensive than the appropriate one for your area. This can be a waste of time and money and homeowners run a great risk of their home never being sold.

Listing with a small 1 or 2-person company

The busy season of NJ Real Estate, sickness, weather, and even vacation times overwhelm small brokerage capabilities. This can make clients and other Realtors be at their mercy in times of urgent requests or rushed buyers wanting to see your listing. Seek a professional team, such as Team Chris Walsh, or you can run the risk of coverage and responsiveness being spotty.

Using an incorrect yard sign

Avoid any sign that mentions the owner or advertises a flat fee MLS listing service. These signs make agents worry that their buyer will go to the seller directly and negotiate a sale.

 

The Real Estate market is changing rapidly and expanding into new avenues almost daily. Sometimes it can be very difficult to find the answers you need on a specific topic or issue. In times like these, you need a Real Estate professional who will provide valuable information and trustworthy advice. For more information on NJ Real Estate, call us today or click here to be connected with one of our top Real Estate specialists.