60 Minutes CBS News – Flat Fee MLS Listing Companies

60 Minutes CBS News covered a great story below dealing with Flat Fee MLS Listing.

It offers some insights on how you can save THOUSANDS of dollars on saving your home, vs. using a traditional real estate agent, stealing 6% of commissions, in the value of your home.

If your looking into possibly located a flat fee mls listing company, you might take some of these facts and tips in the video. Overall though, it’s great to see the industry making waves.

Here’s a transcription of the 60 Minutes CBS News story on the flat fee MLS industry and how it works

[Woman:] Even with today’s housing slump real estate agents will pull in about 60 billion dollars this year, and the reason is, as any home owner knows, they charge a 6% commission on the price of every house they sell.

So for instance a home that goes for 1/2 million dollars, will net agents $30,000 right off the top.

For realtors, that 6% commission is ‘sacrisaint’. It’s remained in place even as the price of homes has quadrupled over the past 25 years. But things are beginning to change.

What happened to travel agents, stock brokers, and book sellers, the encroachments of the internet, is beginning to affect real estate agents. And that sacred 6% is under assault from online discounters.

[Mr. Home Seller] ‘Ooohh that’s nice…

[ ___ Willis and his fiance Bridgette ___ of Seattle, young and internet savvy, took a big chance when they decided not to hire a traditional real estate agent.

Instead they both sold their old house and bought a new one online.

[Interviewer:] What did you have to do yourselves that that the traditional real estate agent would have done for you?

[Mr. Home Seller:] Print out the flyers you that that would go out to on our sign post and describe our house to potential buyers. And then, we held an open house ourselves.

[Interviewer:] What did you miss? Tell us what you didn’t get that you would have gotten.

[Mrs Home seller:] What we may not have gotten was a real estate agent showing our house, or trying to actively sell our house.

[Interviewer:] Who’s out there really pushing for us you would…?

[Mrs. Home Seller:] And that’s what I kept saying. Those insecurities started to really seep in for me. And I started to really question. It wasn’t until the ink was dry on the paper that I was 100% sold to be honest

[60 Minutes Interviewer:] How much did you save by not going with a traditional realtor.

[Mr. Home Seller:] Well over all we saved $26,000’s.

[Interviewer:] Now that is money you would have spent on a commission.

[Mr. Home Seller:] Right.

[Mrs. Home Seller:] Now we can walk down the isle.. Actually pay for people to eat at the wedding.

(Laughs)

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Here’s our personal take away on the 60 minutes CBS new story…

And what your seeing in this 60 minutes CBS new video, this isn’t uncommon.

Here at Flat Fee MLS Reviews, we’re often asked by people looking to choose the right company why or why not they should be looking for a ‘flat fee’ MLS listing company.

Point blank…

If your wanting to take a hard look at using a similar service like your seeing in this CBS News broadcast, then definitely contact us for support…

Curious about the credibility of the ‘flat fee’ industry, and are looking for more information? Make sure you opt in with our email above, in one of the banner pictures, to see why ‘flat fee’ service companies are taking over the real estate industry, and why you should consider taking a look into your options to save THOUSANDS of dollars as well.

Here’s Deborah Erand’s website, the real estate agent in the above Google + Hangout above.

Here’s a link to Wikipedia talking about the discount brokerage industry.

Here’s a link to The Department of Justice giving their 2 cents in.

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