FSBO MLS Listing Service for Oklahoma City & Edmond

If you’re thinking about FSBO, but also want your house on MLS, then Flat Fee listing is the best option.  

Flat Fee listing gets you the best of both worlds; you can save money and get your for sale by owner home listing on MLS where it will be seen by a wider audience. 

Let’s cover common questions about listing your FSBO home on MLS.

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• Why your FSBO (For Sale by Owner) should be listed on Oklahoma’s MLS 
• What is the MLS in real estate?
• How to get an MLS listing without a realtor?
• How to get a flat fee listing on MLS?
• How much does it cost to list on MLS in Oklahoma?
• Does Flat Fee MLS listing work?
• Is being listed on MLS worth it?
• What if I start as FSBO and change my mind? 

Why your FSBO (For Sale by Owner) home should be listed on Oklahoma’s MLS 

FSBO can be an attractive option for those that wish to not pay a realtor fee selling their home. The downside is that without some type of realtor representation, you will be responsible for marketing the home on your own, and your home will not be in MLS. 

Working with a flat rate realtor to list your property on MLS can help bridge the gap between completely being on your own, and getting your property in the database most people use to find their next home. 

It’s important to consider your potential buyers, when thinking about selling your home. Your home is like a product, and you will want to get your product (home) where buyers are shopping. 

Most buyers use a realtor today. As of 2021, 87% of buyers purchased their home through a real estate agent or broker.

Where do Buyers find the homes they purchase?

Realtors use the MLS database in order to find homes for their clients. Most buyers find their next home first on the internet (51%) or through their agent (28%). Comparatively, only around 13% find their home through a combination of open house signs, friends, or directly from the seller.  

Flat fee listing on the MLS means increased exposure to realtors and home buyers that are active in the market today. It can gain you a professional looking listing for a minimal fee. You’ll need to check out the list of options flat fee realtors offer, however, because they can vary widely. 

What is the MLS in Real Estate? 

The MLS, which stands for Multiple Listing Service is the nationwide platform for advertising and marketing real estate throughout the 50 states in the United States. There are over 800 regional MLS databases, so it’s important to list your home with a realtor that represents the region you want to sell in. 

Only licensed realtors can access the MLS database, and they pay a fee to maintain and access the system. As recent as 2021, 90% of sellers were assisted by a real estate agent when selling their home. 

The MLS database is the main source that feeds all other home selling platforms, such as Realtor.com, Zillow, Homes.com, Redfin, Trulia, and others. 

The MLS feeds all major home selling sites.

Currently, only Zillow allows FSBO listings that do not originate from the MLS. Listing through a flat fee or full service realtor is the only way to get listed on MLS, which provides you the greatest visibility to buyers. 

How to get an MLS listing without a realtor?

Only licensed realtors can access or add property listings to the MLS. Working with a flat rate realtor is the best way to get your home listed on MLS without paying listing commissions. Rather, you pay up front a fee (typically non-refundable) in order for the realtor to list your home into the system.

This gets you “in the door” so to speak, and the rest of the transaction process is then up to the home seller to manage. 

It’s important to note that although you can use a flat fee realtor to list your FSBO home on MLS, it’s still recommended to offer a commission to the buyer’s realtor. Currently in Oklahoma, the seller is responsible for both the seller & the buyer realtor fees. 

The reality is, if no commission is offered to the buyer agent, then your home will be less attractive for realtors to recommend your property to their buyer. Typically we see between 2.5-3% offered for the buyer’s agent. This can vary depending on the final selling price of the home, and what others have done in your immediate area. 

Ask your flat fee realtor for their recommendation on what you should offer. 

How to get a Flat Fee listing on MLS? 

You’ll need a real estate agent in order to list on your local MLS. There are many flat fee options available, so here’s a few things you’ll want to consider before choosing which realtor you choose to represent your property. Some flat fee listing options put a short timeline on how long the house can be available on MLS, and professionally taken photos may not be included. Going with a less expensive option up front can cause the marketability of your listing to suffer, and not appear as attractive.

• – How long will the listing be live?
• – Do I submit my own photos, or is a professional photographer included?
• – Is there a limit on photo quantity?
• – Will someone help me figure out the correct listing price?
• – How will showings be scheduled?
• – What’s the overall value I’m receiving?
• – Are there any additional costs?

Checkout JMR Realty’s Flat Fee $999 Listing Option Here

When you work with JMR Realty for your flat fee listing, we’ll first start with a CMA (comparative market analysis) in order to recommend the correct price for your home. Pricing a home is one of the biggest and most important decisions in selling. 

Pricing that is too high will result in few showings and offers, and pricing too low may seed doubt into buyers minds about the quality of the property. After we recommend pricing, photos, and get you the rest of the tools you’ll need to manage the process;  you’re in the door with MLS and the rest is up to you. 

It’s important to note that although you’re able to save on the listing fee, we recommend still offering a buyers agent commission. This will help ensure your home remains an attractive choice for a realtor to recommend to their clients. 

How much does it cost to list a house on MLS in Oklahoma?

Only licensed realtors and brokers are able to list homes and property on the MLS database. The MLS remains the primary way to get your home in front of potential buyers. In order to get your home listed on MLS, you’ll need to work with a real estate agent. Realtors charge various prices for their services, including the traditional 3%, low commission 1% listing, and limited service flat fee listing.

The MLS database is not free for realtors. In fact, realtors and brokers pay a premium to access it and an active real estate license is required in order to utilize the system. This is why, if you’re interested in listing on the MLS, you’ll need to work with a realtor to list your property. 

Let’s cover the options for how to get your home listed on the MLS.

Full Service Listing for 3% Commission

The most expensive option is to work with a realtor that charges using the traditional pricing model. Most charge around 3% to list the property, in addition to the 3% that should be offered to the buyer’s agent. Total cost is between 5-6% industry-wide. 

Full Service Listing for 1% Commission

Some agents will offer full service listing at a discount, typically around 1-1.5%. JMR Realty offers full service listing representation (from start through closing) for 1% fee. Read more about our 1% listing option here. This is a great option for those that want full service but also want to save their equity. You’ll need to offer the buyer’s agent a commission of 2.5-3% typically. 

Limited Service Flat Fee MLS Listing

Flat fee realtors will charge an up-front fee in order to submit your listing into the MLS. The rest of the process is then up to the home seller to manage. This is a great option for those that have experience selling real estate and feel comfortable working through contracts and negotiations with the buyer. You’ll need to offer the buyer’s agent a commission of 2.5-3% typically. Read more about our $999 flat fee listing option here. 

FSBO Without MLS Listing

Lastly, If you want to go full-on FSBO without MLS, then you’re on your own 100% and your best bet to save commission fees is to have no realtors on either side of the transaction. This is best for situations where the seller already has a buyer lined up (such as a friend or family member) and you don’t need to publicize the home for sale. 

Does Limited Service Flat Fee MLS listing work?

Flat fee listing on MLS absolutely can work. That being said, it’s not for everyone. Here’s a few qualifications that we discuss with every customer that is considering a flat fee listing option. 

Flat fee works well for: 

• – Best for people that have extra time on their hands
• – Best for people that feel comfortable negotiating through the selling price and any fixes the home may need off the inspection report 
• – Best for people that have experience selling real estate & working through contracts

The entire process of selling a home consumes a lot of time. Make sure you have time to work through all offers and contracts and feel comfortable negotiating.

JMR Realty will set you up for success with all the proper tools such as a lockbox, a home-showing approval app, and yard signage. The rest is up to the homeowner. 

Flat fee listing is a great way to maximize profit, as long as you have the time to manage the process. 

If you have a long runway of time available to sell your home, certainly you can try FSBO and market the home yourself outside of MLS.

You might get lucky but most of the time homeowners end up calling a realtor in the end in order to take advantage of the MLS database and buyers. 

Is being listed on MLS worth it?

We think so. 

The MLS still maintains itself as the number one source for sellers to list their home, and consequently for buyers to find their next home. FSBO comprises a very small number of homes sold each year (around 7-8%) and the majority of FSBO knew the buyer of the home. 

Home sellers mostly had agent assistance to sell homes in 2021.

In those instances, the process works well. But for everyone else, we believe it makes sense to have the property listed in the space where buyers are actively searching. This is why we offer the flat fee listing option- so homeowners have a low barrier of entry into the MLS to sell their home more effectively.

The MLS database is the central location that feeds all other major home search sites, including Realtor.com, Zillow, Homes.com, Redfin, Trulia, and more. 

Most realtors earn their living from commissions, so they are incentivized to seek out homes that offer a commission to recommend to their buyers. Most will not seek out FSBO options to recommend, and thus use the MLS as their home source. 

What if I start as FSBO and change my mind? 

You’re not alone. Zillow reports that as many as 36% of sellers initially attempt FSBO, but most end up hiring the services of a realtor. 

We hear from many homeowners that initially tried the FSBO route, and the most common reason for enlisting realtor services is to gain access to the MLS in order to get the home in front of more potential buyers. 

The next best option to maintain some of the FSBO benefits is to work with a flat fee realtor to get your home listed on MLS. 

If you do change your mind and want a realtor to manage the entire process from start through close, then a 1% realtor such as JMR Realty can save you money over traditional fees. 

Happy selling! 

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So, there you have it. You can check out the $999 flat fee service or 1% full service options here. 

Leave your questions or comments below!