6 Flat Fee MLS Companies in Louisiana

How would a Louisiana seller benefit from a flat fee MLS service?

A flat fee MLS service can benefit Louisiana sellers by saving on real estate commissions and providing direct access to the MLS without needing a licensed agent. While agents usually charge 5% to 6%, selling FSBO will let you avoid this cost, though you’ll still need to pay the buyer’s commission.

​​It should be noted, however, that on March 15, 2024, the National Association of Realtors (NAR) announced a landmark lawsuit settlement that will change the way real estate agent commissions are handled in the future. These changes will “decouple” seller and buyer agent compensation. Industry experts predict that this decoupling will likely lower agent fees and give buyers the ability to negotiate commission amounts directly. Learn more.

Selling FSBO is best suited for homeowners with a desirable home in a hot market or for sellers who prefer to be highly involved in the selling process. If you’re up for the challenge and want full control, a flat fee MLS service is a great weapon in your arsenal.

Here’s are some of the benefits of an FSBO sale, combined with a flat fee MLS service:

1. Save on real estate commission.
2. Gain direct access to the MLS.
3. Maintain full control over your home sale.
4. Avoid working with a licensed agent.
5. Manage all aspects of the home-selling process independently.

Pros and cons of using a flat fee MLS listing service

Pros:

• Avoid the cost of a listing agent commission (typically 2.5% to 3%).
• Directly manage every step of the home sale process.
• Transparent, upfront costs for the listing service.
• Ensure your home is listed on the MLS and top real estate websites.
• Increase visibility to both buyers and their agents.

Cons:

• Still need to offer a commission to the buyer’s agent.
• Personally handle any complications that arise during the sale.
• No support or expertise of a local real estate professional.
• Greater risk of encountering legal issues and liability claims.
• Home may sell for less than if listed with a traditional agent.

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

Here’s a quick overview of the steps you should take to list your home with a flat fee MLS service:

Step 1: Vet the flat fee MLS service

Research local flat fee MLS services, including their packages and rates. Look up Google reviews and check the Better Business Bureau ratings. Understand what each service offers, such as the number of photos allowed, available forms, and any additional charges.

Step 2: Register and choose a package

Sign up on the flat fee MLS company’s website, select the package that fits your needs, and pay their fees.

Step 3: Provide property details

Enter detailed information about your property and upload high-quality photos. Complete any required disclosure forms if the service includes them.

Step 4: Review and sign the listing agreement

Carefully read and sign the listing agreement. Make sure you understand the terms, including cancellation policies and any potential fees.

Step 5: Monitor your live listing

Once your listing goes live on the MLS, it will become visible to buyers’ agents and may also appear on sites like Zillow, Trulia, and Realtor.com. Regularly check your listing to ensure all information is accurate and complete.

Are flat fee MLS listings effective in Louisiana?

Flat fee MLS listings are highly effective in Louisiana because most homebuyers use the internet to search for homes, and these searches often rely on local MLS databases for the most current listings.

Buyers’ agents also depend on MLS data, making it a powerful marketing tool for reaching potential buyers and maximizing your home’s exposure.

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Alternatives to flat fee MLS services in Louisiana:

If a flat fee MLS service isn’t the right fit, consider these alternatives:

Option 1: Flat fee real estate agent
A flat fee real estate agent lists and sells your home for a set rate, typically ranging from $3,000 to $5,000. This option offers more control with some professional guidance. Check the listing contract for included services and any extra fees.

Option 2: Discount brokers
Discount real estate brokers accept a lower commission than traditional agents while still providing basic services. Though more expensive than flat fee MLS services, they offer some of the support found with full-commission agents. You’ll still need to pay the buyer’s agent commission.

Option 3: Full-service, experienced real estate agent
Working with a local real estate agent provides dedicated, full-service support. An experienced agent offers market insights, local connections, and proven strategies to sell your home quickly and effectively.

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

Though you will save on commission fees, you might lose out in the long run. Research from the National Association of Realtors shows that FSBO homes sold for around 23% less than agent-sold homes. The median selling price for an FSBO was just over $300,000, compared to over $400,000 for agent-assisted sales.

While a flat fee MLS can be an effective tool for your listing, remember that selling your home FSBO might result in less overall profit in the end.

What if I need to sell my Louisiana home fast

If you need to sell your home quickly, you have options. Consider working with a We Buy Houses company or an iBuyer. These companies will purchase your home in almost any condition, often within days. Be prepared to receive less than you would on the open market, but when time is critical, these options can be beneficial.

HomeLight also offers Simple Sale, which can expedite the selling process or connect you with a local agent to provide more options.

What else should I know about selling a house in Louisiana?

While there are no strict rules for using flat fee MLS listing services, sellers must comply with local disclosure laws.

Although not mandatory, hiring a real estate attorney is advisable for FSBO sellers to navigate the complexities of disclosures and contracts, avoiding costly legal issues post-sale.

Key points to remember:

• Flat fee services are paid upfront, regardless of whether the house sells, unlike traditional agents whose fees are contingent on the sale.
• Some services may change names frequently, complicating the tracking of their success rate.
• Often, these services include the seller’s contact info directly in the listing, shifting more communication responsibilities to the seller.
• There may not be a dedicated individual to assist sellers through the listing service, a stark contrast to traditional agents.
• While flat fee services charge a fixed rate, traditional agent fees can be negotiated.

Ready to sell your Louisiana home?

Key points to remember:

• Selling a home FSBO means taking on many responsibilities typically handled by an agent.
• A flat fee MLS listing service can help by providing varying levels of support.
• Savings on listing agent commissions may be offset by needing to pay the buyer’s agent commission and MLS service fees.
• FSBO homes often sell for less than agent-assisted homes, potentially reducing overall profit.
• Comply with local disclosure laws and consider hiring a real estate attorney for complex contracts and disclosures.
• Research and vet flat fee MLS services thoroughly before selecting one.

For more personalized assistance, HomeLight can connect you with a local agent in your area.

Header Image Source: (Josh Doguet / Unsplash)