Background

We took a look at the sale price of Southern California houses that we listed on the MLS for a flat fee in 2016. We wanted to see how they compared with the sale price of other houses in the same county during that time.

What does it mean to list on the MLS for a "flat fee"?

As a seller, you can pay homecoin.com a small fee to list your home on the local MLS. Nothing more is paid to homecoin.com when the home sells. We offer this service for $95.

This means that you no longer need to pay a big commission just to get listed on the MLS. Instead, you can pay a small fee to list on the MLS, and just offer a commission to the agent that actually finds you a buyer. Your cost savings are massive.


Results

We found that homecoin.com sellers' median sale price was above the median sale price of other houses in the same counties, and substantially above other houses in Los Angeles and San Bernardino counties.

County homecoin Sellers1 Other Sellers2 Difference
San Diego $600,000 $565,200 +6.2%
Los Angeles $880,000 $572,400 +53.7%
Orange $735,000 $718,800 +2.3%
San Bernardino $410,000 $305,300 +34.3%

1 See Sale Data at bottom of page. 2 Median sale price data here.


Are homecoin Sellers Richer?

The data shows that homes sold using a flat fee MLS listing on homecoin are worth more than typical homes, and home value is a good indicator of overall wealth.

Making smart financial decisions is the key to building wealth, and no financial decision will likely have a greater impact on your wealth than a home sale.

Is a flat fee MLS listing the secret to getting ahead?

The U.S. Department of Justice seems think so:

"Consumers can save thousands of dollars in commissions (using flat-fee services)."


The Secret Is Out

On the many major MLSs in California, between 10-20% of sellers are now reserving the right to sell their home without paying a listing agent commission, which is a dramatic increase since 2000.

Even for home sellers who do not want to deal with the paperwork of a home sale, the combination of a flat fee MLS listing + the services of a flat fee attorney is a huge cost savings over using a commission-based listing agent.

Type Seller Agent Buyer Agent Total Cost
Full Service Listing $15,000 $15,000 $30,000
Flat Fee Listing $95 $0 - $15,000 $95 - $15,095
* Based on $600,000 sale price, 2.5% commission per agent. No commission is paid if the buyer does not have an agent when using a Flat Fee Listing with homecoin.com.

Our Service Area

As of May 2017, homecoin.com provides service to the below areas of California. Verify the service coverage in your area here.

Please check out our reviews on Yelp! and Zillow.


Sale Data

Below is the list of houses sold through homecoin in 2016 in Southern California that was included in the analysis. This data does not include other areas of California, distressed sales, counties where there were less than 3 sales, or non-detached homes.

Address Sale Price Closing
1010 N Hanover PL Anaheim, CA 92801 $620,000 1/20/16
4836 Montair AV Long Beach, CA 90808 $920,000 3/8/16
6930 Purple Ridge DR Rancho Palos Verdes, CA 90275 $1,179,900 4/8/16
19351 Fortune PL Rowland Heights, CA 91748 $899,000 5/6/16
482 Avenida De Las Rosas Encinitas, CA 92024 $975,000 5/26/16
1935 Morton Glen Escondido, CA 92025 $600,000 6/10/16
201 E 126th ST Los Angeles, CA 90061 $400,000 6/17/16
4251 Conquistador Oceanside, CA 92056 $555,000 8/8/16
12306 Katydid San Diego, CA 92129 $830,000 8/12/16
1304 Bellingham Oceanside, CA 92057 $660,000 8/17/16
6256 Sunrose Crest San Diego, CA 92130 $1,565,000 8/19/16
1025 W Cubbon ST Santa Ana, CA 92703 $406,000 8/24/16
8744 Hiel Spring Valley, CA 91977 $355,000 8/31/16
9181 Molt River CR Fountain Valley, CA 92708 $875,000 9/12/16
2006 Avocado Knoll Fallbrook, CA 92028 $538,000 9/13/16
1109 Exposition BL Los Angeles, CA 90007 $375,000 9/23/16
12289 Bridgewater WY Seal Beach, CA 90740 $1,140,000 10/28/16
403 Foussat Oceanside, CA 92054 $450,000 10/31/16
15853 Leadwell ST Lake Balboa, CA 91406 $590,000 10/31/16
240 Freedom AV Upland, CA 91786 $410,000 11/1/16
29548 Laurel Campo, CA 91906 $127,000 11/4/16
1423 Campus RD Los Angeles, CA 90042 $880,000 11/9/16
5569 Coyote Carlsbad, CA 92010 $770,000 11/14/16
1030 Melba Encinitas, CA 92024 $795,000 11/15/16
23 Racing Wind Irvine, CA 92614 $735,000 11/15/16
12633 Pinebrook Poway, CA 92064 $590,000 11/29/16
31080 Quarry ST Mentone, CA 92359 $360,000 11/30/16
1131 Alexis LN Redlands, CA 92374 $425,000 12/27/16

Posted in Seller on May 14, 2017

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