It is currently a seller’s market in Ohio and it is a great time to make most of the fact that the number of homes listed in the last couple of months was comparatively less in number than the previous year. The great feature of the real estate market in Ohio is that it has a great job market and a thriving economy that ensures demand for housing.
If you are a seller you can choose to go for a full-service agent who would take care of everything for a steep fee of 6 percent which would cause a huge dent in your savings. So, the best decision then is to go the For Sale By Owner (FSBO) route and look for a Flat Fee MLS service that would help them crack a great deal but save a lot of dollars, simultaneously.
Flat Fee MLS in Ohio can provide you with many options. Following are a few viable choices for Flat Fee MLS.
1: Houzeo
Houzeo is a Flat Fee MLS company that has a great reach and is technologically miles ahead of others offering a similar service. Houzeo reviews are great because of their technology, maximum exposure, great customer care, and no hidden charges at the closing.
A typical listing with Houzeo is charged somewhere between $249 to $399 depending on the plan you choose. Their most premium offering is the Platinum Plan which costs $999 and gives services akin to a full-service real estate agent only in a virtual form.
They have digitalized documentation, assistance with closing, professional photoshoots, staging, pricing, and ultimately selling. They also give state and federal disclosures in the package.
Selling with Houzeo is a wholesome experience because it takes care of everything depending on the service you choose plus you retain autonomy over your sale. This gives sellers freedom as well as flexibility. Overall, it is a great option for Flat Fee MLS Ohio.
2: Ohio Property Group
Another reliable Flat Fee MLS is Ohio Property Group which offers plans at $297 and $597 and has a basic MLS listing service plus their photo limit is too high which is great for sellers. Plus, they also have a system where all the documents are digitized. They give offer reviews and home showings too for $597.
There is a premium service for FSBOs seeking more support. Their Platinum package is at $997 which gives a holistic service of virtual real estate agents. They also have a market analysis feature which is very helpful if you are an FSBO. They also give full support for closing paperwork.
There are no hidden charges but to accelerate every change you make in your listing you have to pay an additional $20 dollars.
3: Ohio Team Results Realty
Ohio Team Results Realty is the best bet for sellers based out of Central Ohio because they can provide maximum exposure there. While the pricing for MLS listing remains comparable to other Flat Fee MLS services in the country, their best feature is that sellers can add maximum photos with every listing, despite any package chosen.
Their basic to premium package price range is $299 to $999 and they have an additional package which is $999+ 1 percent at the closing if you want all the perks of a full-service agent.
This is a good option if you are looking to sell property only in Central Ohio.
4: Flat Fee Realty
Flat Fee Realty has a one-only package at $199 to suit every need. It is one of the cheapest available options in the market but has no customizations whatsoever. Additionally, the seller has to pay $50 to add more photos than the standard 6 allowed with every MLS.
They will also withhold 0.1% to 0.25% of the buyer commission and there is no clear reason given for the same.
5: I Sold My House
Listing on I Sold My House would cost you anywhere between $299 – $399. As the name suggests, this platform provides an MLS listing but rest, but the owner is left to his own devices to sell the house. They give 6 months listing and you can attach a various number of photos as per the package selected.
I Sold My House may look cheaper at the onset but it is not ideal for the first-time FSBOs who are new to the red tape associated with real estate.
But one advantage of going for I Sold My House is that the buyer leads are forwarded directly to the seller. This ensures autonomy and transparency.
Go for I Sold My House if you are confident about the pricing, and staging and can handle the closing including the tedious paperwork pertaining to permissions, and federal and state disclosures.
Red Flags to look out for before choosing a Flat Fee MLS Ohio
While going for Flat Fee MLS seems like a plausible option in Ohio, here are certain things you need to look out for if you are choosing to go this way instead of a full-service real estate agent.
A: Hidden charges
Many Flat Fee MLS companies will ask for upfront fees but fail to mention the hidden charges which they then demand at the closing of the deal. Since sellers cannot retract from the deal at that point, they have no choice but to oblige. FSBOs need to understand that there are no additional charges at the closing in the state of Ohio unless there is an extra service you have chosen in the a-la-carte package.
B: Customer support
Customer support is the key if you are going the Flat Fee MLS route. First-time FSBOs need great support to help them navigate the real estate and all the formalities associated with making the sale. It is important to have virtual assistance in these circumstances.
C: Buyer’s commission
Most Flat Fee MLS in Ohio charge the 2-3 percent buyer commission as per standard as most buyers work with an agent. Sellers save up only on the listing commission. One needs to calculate that price too while making an estimate.
D: Probability of house selling for less price
If you are an inexperienced seller who is going the FSBO way, Do It Yourself MLS packages are impractical as you need a certain level of support and experience to crack the best deal else, you might end up selling your house for less. In order to do this, it is important to choose a Flat Fee Package and service catering to your needs.