Why is Flat Fee Listing not so known in California?
When we receive phone calls, we get about the same questions regarding the Flat Fee MLS method of listing. California sellers do not know much about how it works, and are mostly unaware of how it works and how much it can save them on seller proceeds.
Here are a few reasons why sellers do not know much about it:
Real Estate Agent Culture of California
The popular culture of real estate in California is much less about helping the seller save on their closing, and more based on its expensive Agent culture. Television shows portraying Los Angeles Agents, mostly show the themed and bouche parties with expensive vehicles. Agents in California are trained by California Brokers to exude an image of success whether it is valid or not. "It takes money to make money," this is a mantra that is lived by the California Agents. This means that sellers pay for this notion, and are faced with 6% to 7% seller commissions because of it.
Seller's Unfounded Trust in a Local Agent
California sellers tend to believe that a local Agent will be the best path to success. However, this is the main reason as to why a seller usually can't find a more discounted option. If you believe a Los Angeles or San Francisco local Agent will be the reason your property sells, you will be faced in having to pay for those living costs of that local Agent. MLS broadcasts to multiple real estate websites that publish your listing. Buyer's tend to find their own properties, and send a link to their own Buyer's Agent. You can see that is unreasonable to believe that local Listing Agent was the reason the property sold. Instead, find a more discounted California licensed Broker, who does not have to live in such an expensive cost of living area. Locality can matter when you look for a local Attorney who knows those local county courts well, not necessarily the same in real estate from the MLS stance.
Flat Fee MLS Listing can work
It can work, as long as you have savvy and compliant advice. We are here to show you that this California Flat Fee MLS can work. But I would not trust all Flat Fee MLS services, since they are not all built the same.
Dr. Will Puente
Locally Licensed California Broker