NewswireToday - /newswire/ -
Boston, MA, United States, 2013/01/10 - Stuart St James launches a new 100% online flat fee MLS entry only listing platform that saves Massachusetts for sale by owners (FSBOs) thousands in listing their property for sale or rent and challenges the status quo of high real estate commissions.
Boston-based residential real estate brokerage Stuart St James is offering property owners an innovative and simple way to save thousands of dollars in real estate commissions when listing a property for sale or rent. By leveraging the new online platform at EntryOnlyNewEngland.com, property owners can list their Massachusetts property for sale or rent in the official multiple listing service (MLS) entirely online in approximately 20 minutes.
"Massachusetts property owners need choices, instead of paying upwards of 6% in real estate commissions to sell a home, why not cut that in half and pay a one-time nominal fee to get your home into the MLS and in front of thousands of Buyers who are searching online," says EntryOnlyNewEngland.com spokesperson Dean Charles.
A flat fee MLS entry only listing platform allows for sale by owner (FSBO) sellers to get their property listed for sale or rent in the official MLS for a one-time flat fee. With this model, property owners avoid paying the real estate commission that is given to a traditional real estate listing brokerage.
On the sale of a $395,000 home, assuming a 5% commission that the listing brokerage will split in half between themselves and the brokerage representing the buyer, a homeowner will save a total of $9,580 in real estate commissions by selling their home using an entry only listing with EntryOnlyNewEngland.com. This represents a material savings and challenges the status quo of high real estate commissions, for all real estate transactions.
"We believe that in many cases the exposure provided by the combination of the MLS and the Internet can be sufficient to attract a qualified buyer. This concept is not new by any means, but, the platform that we have built is 100% online, and provides our clients with a fast, secure, and easy solution to listing their property for sale or rent in the Massachusetts MLS system. What we see is, on average, clients can list their property in approximately 20 minutes on our website," says Charles.
Flat fee entry only MLS listings represent a viable option for property owners who are comfortable in performing the duties that listing agents oftentimes handle, including scheduling property showings, holding open houses, and negotiating offers. Massachusetts FSBOs have gained confidence in the entry only listing model, as the number of sold listings that were the result of a flat fee MLS entry only listing increased by 14% year over year. The majority of listings are still, however, listed using a traditional real estate brokerage model with the accompanying commissions (there is no "standard" but fees are approximately 6%), leaving much more room for growth in the future.