If you’re selling your house for sale by owner (FSBO) in Iowa, a flat-fee MLS company is much more beneficial and will aid you in reaching a larger audience of qualified local buyers without burning a hole in your pocket. MLS is used by buyer’s agents to locate their clients’ homes. The MLS also spreads the data to various local real estate websites like Houzeo, Redfin and Zillow to name a few. Registering on the MLS is of paramount importance as it makes your FSBO property visible in front of as many potential buyers as possible.
You cannot, however, add your listing to the MLS on your own. Only licensed brokers and agents have access to the MLS. Flat-fee MLS providers provide a low-cost alternative.
To list your FSBO home on the MLS site, these flat fee MLS companies charge a comparatively minimal one-time fee. This means you get more exposure without having to pay the normal 6% total commission charged by real estate brokers to sell your home.
What’s The Secret Sauce to Choosing the Right Flat Fee MLS Company in Iowa?
It’s critical to choose the correct flat-fee MLS business for your needs if you’re selling without the help of a broker. They aren’t all the same. Some are all about cost reductions, while others provide additional support to sell your FSBO home – either built-in or à la carte.
What About The Various Fees Associated With MLS Flat Fee Listing?
There are 2 costs you should be aware of when dealing with a Flat Fee MLS listing company in Iowa
- Upfront Fees: Ranging anywhere between $300 and $500, this is the fee you’ll have to pay to be listed on the MLS.
- Closing Fees: In most cases, there is no fee at closing for a Flat-Fee MLS listing agent in Iowa, unless you purchase additional services such as a “Contract to Close Consulting Package” or choose one of the high-service plans.
- Other (Hidden) Fees: Many shady brokers will lure you with a $99 listing. Buyers beware — that’s just the beginning. You’ll be irritated if you have to pay an additional $500 or more in hidden costs. You will be charged $135 for a $50 yard sign. Some brokers will charge you hidden costs at closing, which you will only learn about when you are ready to close. It’s far too late to do anything about it at that point.
Now that you’ve brushed up with the basics, let’s dive a little deeper.
Don’t worry!
We’ve already done the hard work for you by searching for the 6 best flat fee MLS Iowa has to offer. If you’re selling your house on your own, have a look at these three companies.
I Sold My House
I Sold My House is an Iowa Flat Fee MLS listing service with flat-fee packages ranging from $299 to $399. You can plan open houses with their packages without paying any additional expenses.
One of the more useful benefits is that they directly forward all buyer leads to you, the house seller. You can also pay $50/month to have your listing featured on their homepage and sidebar, which will increase exposure for your home and possibly result in a rapid sale. Also, there are no additional fees for scheduling an open house.
These packages are fairly strict and do not allow for much flexibility, and there are few à la carte options available.
FSBO
FSBO is a Flat Fee MLS listing service in Iowa that allows you to list your home for as little as $99. Their base bundle, however, is only available on their website. If you want complete MLS coverage in Iowa, you’ll need to go with the $399 subscription.
FSBO has some advantages, the most important of which is its low cost without any hidden fees. However, it also has some disadvantages. They do not give the majority of the à la carte services, such as a professional photographer or a real estate attorney on an à la carte basis.
A yard sign, open house posts, pamphlets, and other FSBO-related products are charged separately because they are not included in the whole package or on an à la carte basis. In addition, the listing broker charges an additional 0.5% at closing for services not listed on the website.
Fizber
Fizber provides three packages ranging from $95 to $395. All three options include an Open House Manager who will assist you in scheduling open houses. Your home is only listed on Redfin and Fizber if you purchase their Digital Boost Package (worth $95). As a result, your home will receive little publicity virtually.
The other two packages, MLS Boost and Premium MLS Boost are $295 and $395, respectively. Here, your home will be listed on local MLS as well as numerous listing websites. The only difference between these programs is the number of photos you can submit. This number ranges from 6 to 25. The listing period in both packages is 6 months.
To get the most exposure, choose the MLS Boost or Premium MLS Boost packages. However, the quantity of photos permitted under the MLS Boost Package is quite limited. Many other companies charge the same amount if you upload at least ten photos. Fizber does not provide online brokers, thus you will have little power. Listing your property on the MLS takes nearly 4 days. Furthermore, they do not offer a money-back assurance if they are unable to assist you in selling your home.
Flat Fee Group
Flat Fee Group is a Flat Fee MLS listing platform spread across the US that connects you with local brokers; however, they are short on technology, hence the majority of their property selling process is manual, and thus time-consuming and slow.
When compared to the other organizations on the list, the bundles are relatively pricey. The base package is $399, with an additional 3.5% fee at closing. They offer two full-service packages for $799 and $1,395. You must pay an additional 3-3.5% at closing in both of these packages.
Aside from that, you must pay $20 in shipping charges at the time of checkout. CSS – showcasing service & feedback, realtor-sized sign with frame, and Market Analysis are not included in their basic plan (CMA).
If you choose Houzeo’s Virtual Full-Service Package, you will only pay $399 + 0.75% at closing, regardless of the value of your house, so you will essentially be getting all of the services of an agent for a significantly cheaper charge!
Houzeo
Houzeo.com is our top option because it offers the best combination of discounts, technology, and customer service of any For Sale by Owner website we’ve researched.
Houzeo eliminates the need for a listing agent commission. Furthermore, Houzeo’s cutting-edge platform gives you access to features that only real estate professionals have. You can use the website to counter an offer, request the highest and greatest, and even manage your exhibitions. If you ever need assistance, Houzeo provides 5-star customer support via chat, email, and phone.
Finally, Houzeo reveals all of its fees right away.
Pro Metro Realty
Pro Metro Realty is an Iowa Flat Fee MLS listing service that provides a wonderful bundle, but their package – priced at $2,495 – is one of the most expensive we’ve encountered.
They do offer a free market analysis study that can help you price your house accurately, as well as a no-obligation consultation that can be quite beneficial to first-time home sellers. Even after paying such a large charge, they require you to pay additional fees for filming, aerial photography and even home staging.
Furthermore, they have not properly stated how long your home would be posted on the MLS and how many images are permitted to be uploaded. As a result, you may be in for a surprise!
Do You Still Have To Pay Buyers’ Agent Commission?
Although you will save money by not having to pay a listing agent’s commission (usually 2.50-3.90% of the sale price), we strongly advise you to pay a commission to the buyer’s agent. This will encourage agents to bring clients to your home.
It is up to you how much you offer a buyer’s agent, but most selling agent commissions in Iowa run from 2.50-3.30%.
Final Words
Some firms promise to provide flat-rate MLS services but then charge “hidden” costs after closing. We’ve even heard companies pretend to provide a “free” MLS listing only to charge you a portion of the sale price at closing.
When you anticipate paying only a few hundred dollars, these fraudulent methods could cost you thousands of dollars.
Always read the fine print before signing up for any service. In addition to the up-front flat cost, keep an eye out for “closure fees” or “admin fees” that you’ll owe the broker.
Furthermore, some flat-fee MLS firms include à la carte services such as photos, paperwork assistance, and signage. These services can help you save time on DIY projects, but be cautious. These extras might quickly pile up!
It’s always better to be informed rather than be surprised by unwanted expenses.
