As sellers start to lose the upper hand in the market, does it make sense to skip the realtor fees and go your own way?

as sellers start to lose the upper hand in the market, does it make sense to skip the realtor fees and go your own way?

Should sellers go it alone in a tough market?

After two years of lightning fast sales and soaring prices, the housing market is finally starting to cool.

Inventory has been slowly increasing, taking off some of the pressure of competition that once saw buyers making offers within minutes of touring a home — if not before — and well above asking prices.

Now, some sellers are finding they have to actually lower their list prices. Which may leave them searching for ways to save on transaction costs: namely real estate agent fees.

Sellers typically pay between 5% and 6% of the sale price to their real estate agent, who then typically splits the money with the agent representing the buyer.

But there are ways to sell a home without using a traditional agent. And while it can save you a bunch of money, it’s important to know exactly what you’re getting — and what you’re not.

Don’t miss

The flat-fee option

Almost 90% of homeowners used a real estate agent to sell their homes over the past year, according to a new report from

Joe Bourland, a real estate agent in Phoenix, says there’s a good reason the majority of people work with Realtors.

“It’s work,” he says. “There’s effort and expertise involved and skills that most homeowners don’t have.”

Yet not everyone feels they need an agent to hold their hand through the sales process — or they just don’t want to pay a 6% commission. In these cases, sellers often turn to so-called flat-fee real estate brokerages.

These companies charge an upfront fee to list your home on your region’s Multiple Listing Service (MLS) — a searchable database of properties for sale.

Sinan Zakaria, the broker for San Diego-based Listed Simply, which offers a flat-fee service in California and Arizona, says that with the market simmering down, sellers are looking for ways to save.

“Now that the market is turning, they’re going to maybe get less money than before,” Zakaria says. “They can save money on the listing side of the transaction to make up the difference.”

Cutting the commission

Zakaria’s company charges a flat fee of $79 to list a house on the MLS. But the services they offer are minimal. For example, the homeowner must take and upload their own photographs — and they’ll have to field calls from prospective buyers and agents and handle any showings or open houses.

And sellers must still offer a commission to the agent representing the buyer.

One way to save on Realtor fees is to simply ask your agent to reduce the commission.

“You shouldn’t begrudge somebody for asking — and then it’s an agent’s decision to decide what to do,” says Bourland, of the Bourland Real Estate Team at eXp Realty.

Still, Bourland says he was more willing to negotiate his fee when sales were happening at lightning speed. That’s no longer the case.

“For us, we are holding tighter on commissions because it’s taking longer to sell houses and it’s more work for us than before when we knew a house would go under contract in a matter of hours vs. months.”

Forgoing the MLS

Some sellers choose to skip the agent and MLS altogether. Those who list their homes “For Sale By Owner” often do so because they either don’t trust agents or want to save money. Others do it because they have the time and the know-how.

“Some are able to negotiate in their best interest and are able to come together with somebody else with an opposing interest,” Bourland says.

Another less common way to sell is for an owner to hire a real estate agent but ask that their home not be advertised on the MLS. Some homeowners do this for privacy reasons, but they can lose out financially, according to a recent study from Maryland-based Bright MLS, which represents real estate agents covering six states and Washington D.C.

The study, which analyzed over 840,000 real estate transactions throughout the Mid-Atlantic region between January 2019 and March 2022, found a sales price gap of nearly $56,000 between a typical home listed on the MLS and one that was not.

The analysis showed that the benefit of listing on an MLS grew throughout the pandemic, with homes selling in the region for a premium of 9.8%, 10.1% and 14.8% in 2019, 2020 and 2021, respectively.

“When a property is marketed through a limited number of agents in a specific market area, many potential buyers are excluded from the process, creating an unlevel playing field for consumers that goes against the fair housing practices the industry is working hard to promote,” Brian Donnellan, president and CEO of Bright MLS, said in a statement.

What to read next

  • House Democrats have officially drafted a bill that bans politicians, judges, their spouses and children from trading stocks — but here’s what they’re still allowed to own and do
  • Billionaire Carl Icahn warns the ‘worst is yet to come’ — but when an audience member asked him for stock picks, he offered these 2 ‘cheap and viable’ names
  • Biggest crash in world history’: Robert Kiyosaki issues another dire warning and now avoids ‘anything that can be printed’ — here are 3 hard assets he likes instead

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

News Related


How a family-run Mexican restaurant became a popular chain — and a Southwest phenomenon

ANAHEIM, California — Roberto’s, Alberto’s, Filiberto’s, Juanberto’s … If you have lived in or around the Southwest states, odds are you’ve seen a variation of a “Berto’s” Mexican fast-food restaurant, ... Read more »

Why Did Mike Nesmith and Peter Tork Leave The Monkees?

The Monkees was a made-for-television band that included Davy Jones, Peter Tork, Michael Nesmith, and Micky Dolenz. The zany sitcom only lasted for two seasons, and some members of the ... Read more »

Air India has ordered its cabin crew to dye their gray hair, report says

Air India Vytautas Kielaitis/Shutterstock Air India has implemented a new set of regulations regarding the appearance of its cabin crew. One rule states that “crew with deep receding hairline must ... Read more »

Top 25 roundup: Texas A&M slams CFP door on No. 5 LSU

Top 25 roundup: Texas A&M slams CFP door on No. 5 LSU Devon Achane returned from a two-game absence due to injury to rush for 215 yards and two touchdowns, ... Read more »

Massively Misunderstood: The Mega-Trend That Makes This Homebuilder Stock Worth Buying

Massively Misunderstood: The Mega-Trend That Makes This Homebuilder Stock Worth Buying Housing is in a downturn. Sharp interest rate increases, following years of rising home prices, have brought things to ... Read more »

Newport Beach plans $30.5 million purchase of site for future police headquarters

The Newport Beach City Council voted to begin the process of purchasing a nearly 4-acre parcel, presently home to an office building, at 1201 Dove Street in Newport Beach, that ... Read more »

Monkeys in central Thailand city mark their day with feast

Monkeys enjoy fruit during monkey feast festival in Lopburi province, Thailand. Sunday, Nov. 27, 2022. The festival is an annual tradition in Lopburi, which is held as a way to ... Read more »

Mexican asylum seekers set their sights north — on Canada

Mexican asylum seekers set their sights north — on Canada There has been a surge in the number of Mexicans seeking asylum in Canada this year FILE – In this ... Read more »

¿Qué necesita México ante Arabia Saudita para clasificar a la siguiente ronda en el Mundial?

LUSAIL, QATAR —  México cayó el sábado por la noche en Lusail Stadium ante la poderosa selección de Argentina en su segundo partido del Mundial de Qatar 2022, lo que la ... Read more »

Letters to the Editor: All mayors start fast. What will Karen Bass do differently?

To the editor: I’m sure Los Angeles Mayor-elect Karen Bass would like to act fast, but the keys to housing homeless people lie with the City Council. After all the ... Read more »

Trucks still hit Long Grove’s iconic bridge, but town punches back — just as it always has against modern life

Waitress Grace Knowles sings to customers at the Village Tavern on Sept. 28, 1972, in Long Grove. For almost 200 years, Long Grove’s residents have been like the village’s infamous ... Read more »

James Arness Compared Working on ‘Gunsmoke’ to Fighting on the Front Lines in World War II

Actor James Arness initially had some difficulty breaking into acting before he landed Gunsmoke. However, it was a happy accident that he landed on the career path at all. After ... Read more »

Elon Musk voices support for Trump rival Ron DeSantis if Florida governor runs for president in 2024

Elon Musk said Friday he would support former President Donald Trump’s rival Ron DeSantis if the Florida governor runs for presidential office in 2024. Musk replied “Yes” to a tweet ... Read more »

Needing to find a response, Tennessee left no doubt

Needing to find a response, Tennessee left no doubt A gut-wrenching 63-38 loss to South Carolina ended Tennessee’s title hopes just seven days ago. Hendon Hooker was lost for the ... Read more »

Man arrested in Black Hawk County after allegedly firing gun at vehicle

Gunshots were fired. WATERLOO, Iowa (KCRG) – A man is in custody after police said that he shot a gun at a vehicle with people inside on Friday evening. At ... Read more »

Penn State’s Sean Clifford bids farewell in final game at Beaver Stadium: video

Penn State quarterback Sean Clifford hugs his girlfriend Juliana Alessand following the 35-16 win over Michigan State on Senior Day on Nov. 26, 2022. Joe Hermitt | Penn State ... Read more »

Spain vs Germany odds and predictions: Who is the favorite in the World Cup 2022 game?

Germany’s Qatar 2022 World Cup hopes are already in the balance ahead of their matchday two clash against Spain in Group E. As it stands, things are not looking great ... Read more »

Op-Ed: Free food for all? Absolutely. In this age of abundance, it should be a human right

Everyone should have access to food. Yet it’s not considered a human right — like education or healthcare or drinking water — that is defended and guaranteed by governments. Why? ... Read more »

Op-Comic: The 118th Congress opens Jan. 3. Good luck, America

(Steve Brodner) Steve Brodner is a contributing artist to Opinion. He blogs at Read more »

Column: America needs to try harder to match its foreign policy to its morals

I once went to the village of Koreme in Iraqi Kurdistan and walked along a dirt road past a little brick school and a makeshift mosque to a dusty field ... Read more »

Letters to the Editor: Speaker bans by UC Berkeley law student groups -- really?

To the editor: In his op-ed article, “When a Berkeley Law debate on free speech got turned into a social media circus,” law school dean Erwin Chemerinsky doesn’t mention that ... Read more »

Op-Ed: How to find freedom from ‘worst-case scenario’ thinking

As a recession looms on the horizon, many people understandably are worried about their finances and job security. While these concerns are not unfounded, constant worry and stress about things ... Read more »

Letters to the Editor: You pray to God about climate change. That’s no excuse for inaction

To the editor: The survey describing the difference between religious and nonreligious individuals concerning climate change made me reflect on folks I’ve met who have brought every small need to ... Read more »

Warren Buffett Just Bought These 3 Dividend Stocks With Yields of Over 3%

Warren Buffett Just Bought These 3 Dividend Stocks With Yields of Over 3% Don’t believe for one second that Warren Buffett doesn’t think about dividends. In his latest letter to ... Read more »

Iran coach: Klinsmann should resign over ‘outrageous’ BBC comment

Queiroz invited Klinsmann to visit the Team Melli camp to speak with the players and learn more about the team and country’s culture [File: Gareth Bumstead/Reuters] Tehran, Iran – The ... Read more »

How to Watch Croatia vs. Canada in 2022 FIFA World Cup Group F Play

The reigning World Cup runner-up is ready to continue its 2022 journey, and it’s looking to finally get on the scoresheet. Croatia opened group play with a scoreless draw against ... Read more »

Italian Rescuers Search for About a Dozen Missing After Landslides

The landslide occurred on the Italian resort island of Ischia, which suffered the heaviest rainfall in 20 years Read more »

A Twitter executive said she's been working more than 75 hours a week because Elon Musk fired so many people

Twitter’s VP of public policy and communications, Sinead McSweeney. Insider A Twitter exec said she worked more than 75 hours a week since Elon Musk took over, per Irish Times. ... Read more »

Cleveland Hopkins officials begin talks with airlines to finance new $2 billion airport rebuild

Even curbside valet parking at Cleveland Hopkins is at capacity, thanks to spring break travel. CLEVELAND, Ohio – While major construction is still years away, officials at Cleveland Hopkins International ... Read more »

Rescuers search for the missing after massive landslide on Italian resort island

MILAN, Italy —  Rescuers dug through mud for a second day Sunday in the search for people lost in an enormous landslide on the Italian resort island of Ischia. One body ... Read more »

ON CAMERA: Students allegedly harass teacher in UP school, booked

A screengrab of the video shows one of the three students facing the camera as he makes inappropriate comments about his teacher. Meerut: A First Information Report (FIR) has been ... Read more »

Ready for extreme snow? What NY's storms reveal about winter weather

Ready for extreme snow? What NY’s storms reveal about winter weather It’s hard for most people to imagine 6 feet of snow in one storm like the Buffalo area saw ... Read more »

10 Things Married People Desperately Want Unmarried People To Know

10 Things Married People Desperately Want Unmarried People To Know Recently someone asked, “Married people of Reddit, what is something you wish unmarried people knew?” Nearly 10,000 people weighed in ... Read more »

Heavy snow fall expected for Snoqualmie pass as weekend ends

Heavy snow fall expected for Snoqualmie pass as weekend ends From dealing with rain then snow, it was a tough commute for many drivers going through Snoqualmie Pass. “I had ... Read more »

‘I Was Social Distancing Before It Was Cool’ : Funniest Introvert Memes That You Can Read From Home

If you find yourself stressed out by other people’s weekend plans, don’t use your phone for phone calls and whisper to yourself ‘This is a mistake’ when you leave the ... Read more »

Qantas Hits Back At Politician's Claims It's "Hoarding All The Bananas"

Qantas Hits Back At Politician’s Claims It’s “Hoarding All The Bananas” A most unseemly war of words has been launched on Qantas by an Australian politician, Senator Tony Sheldon. The ... Read more »

Italian rescuers search for missing in island landslide

Italian rescuers search for missing in island landslide Rescuers are digging through mud for a second day in the search for people missing following an enormous landslide on the Italian ... Read more »

At World Cup, US soccer scrubs Islamic emblem from Iran flag

At World Cup, US soccer scrubs Islamic emblem from Iran flag The U.S. soccer federation is displaying Iran’s national flag on social media without the emblem of the Islamic Republic ... Read more »

Cuti Romero likely benched for Argentina-Mexico, “fed up” with injury

Cuti Romero likely benched for Argentina-Mexico, “fed up” with injury This might be old news to most of you but it’s new to me, so with just over an hour ... Read more »

College Football Playoff Rankings Top 25 Prediction November 29

College Football Playoff Rankings Top 25 Prediction November 29 What will the College Football Playoff rankings potentially be? It’s the predicted best guess on the penultimate 2022 CFP Top 25. College ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network