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How to Use a Flat Fee Broker to List Properties on the MLS
Goal: This document will explain how real estate investors can leverage a flat fee brokerage to list properties on the Multiple Listing Service (MLS), outlining the process, required documentation, and the benefits of this strategy.
1. What is a Flat Fee Brokerage?
A flat fee brokerage is a real estate brokerage that charges a fixed fee to list a property on the MLS. Unlike a traditional agent who charges a percentage-based commission (typically 3% of the sale price), a flat fee broker handles the administrative task of listing your property for a set price, often just a few hundred dollars. This model is perfect for investors who want to market their properties to a wide audience without paying thousands in listing agent commissions.
2. The Game Plan: A 3-Step Process
Ready to get started? Follow these three critical steps to take control of your listings and maximize your profits.
3-Step Process
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1. Secure Your Brokerage and Your Power
Instead of hiring a traditional agent who does the legwork of showings and open houses, you'll engage a flat fee brokerage. They provide the licensed entity to list the property on the MLS for a simple, flat fee (e.g., $200 per month).
But here’s the secret sauce: you need a Power of Attorney (POA). This is a non-negotiable, legally binding document that authorizes you to act on the seller's behalf. In the video, it's referred to as an "attorney in fact" document. The seller signs it, and you get the power to sign all legal documents. Without this, you cannot legally sign listing agreements, accept offers, or manage the transaction. This document is your shield against being bypassed.
2. Handle the Paperwork Like a Pro.
Once the POA is signed and in hand, the paperwork is a breeze. You can now complete all the necessary listing documents—like the MLS listing agreement and any required disclosures—yourself. Since you have the POA, you don’t have to bother the seller with every signature. You are the authorized agent of the transaction.
3. Close the Deal and Cash the Check.
As offers start rolling in, you're the one in the driver's seat. You'll negotiate terms and manage the paperwork. Because you hold the POA, you can accept and sign offers directly, without having to run every single detail by the seller. This stops other agents from trying to go directly to the seller, ensuring your fee is protected. The seller's job is simple: wait for the wire transfer. Your job is to make it happen.
1. Secure Your Brokerage and Your Power
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Instead of hiring a traditional agent who does the legwork of showings and open houses, you'll engage a flat fee brokerage. They provide the licensed entity to list the property on the MLS for a simple, flat fee (e.g., $200 per month).
But here’s the secret sauce: you need a Power of Attorney (POA). This is a non-negotiable, legally binding document that authorizes you to act on the seller's behalf. In the video, it's referred to as an "attorney in fact" document. The seller signs it, and you get the power to sign all legal documents. Without this, you cannot legally sign listing agreements, accept offers, or manage the transaction. This document is your shield against being bypassed.
3. Why This Strategy Is a Game-Changer
Massive Cost Savings
Cut out the middleman. By using a flat fee brokerage, you avoid a 3% commission on the sale. That's thousands of dollars you keep in your pocket, directly boosting your profit margin.
Total Control
You are in charge of your listing, your marketing, and your negotiations. You're the one talking directly to potential buyers and their agents.
Speed and Efficiency
The POA gives you the power to make quick decisions and sign documents on the spot. No more waiting around for a seller to sign paperwork, which makes the entire process faster and smoother.
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Your Essential Toolkit: The Documents You Need
WHOLESALE_Contract.pdf
54.4 kB
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