No. Some websites get you to list through them and then send the listing to a broker in your area, who then emails you a listing agreement and all the actual MLS forms to complete. We DO NOT do this. On homecoin, you select the agent that completes your listing and you complete all the correct forms and listing agreement on our website. No slow, offline, funny business.
Yes, with homecoin you will always be listed on the same Multiple Listing Service (MLS) that local agents use. We show you up front which MLSs you can list on for a flat fee through our website (there are over 700 MLSs in the US). It is absolutely critical you list on the correct MLS, and some websites will list you on the wrong MLS. We do not accept listings for MLSs that we are not able to get you listed on.
Yes. If you are offering a fair commission through the MLS (typically 2-3%), buyer agents will certainly show your property. Buyer agents only avoid homes that are not offering a commission through the MLS. By using the MLS, you are making a contractual offer to those buyer agents and you can offer them any amount you like.
Yes. It is very important to understand how a flat fee MLS listing works and how much time other websites will take from you. To list on the MLS, a seller needs to complete at least two forms: 1) listing agreement, and 2) the actual listing input form for the MLS.
Other websites will either a) collect generic property information that you provided about your home, have you pay, and then refer you to an agent who will send you the actual listing forms to complete / sign / scan / email, or b) use the information provided to complete the MLS listing, which is a tremendous disservice to you since all MLSs have very different fields to complete and your home will not be as visible if you cannot complete all the actual MLS fields.
Yes, they are extremely common. It is estimated that 20% of real estate sales do not use a commission based listing agent. The US Department of Justice has a large section of its website dedicated to informing consumers how much they can save by doing flat fee (aka fee for service) sales.
The real estate industry would like you to think that the only way to sell a home is by paying a full 6% commission, but that is just not true. Flat fee agents and real estate agents that accept less than 6% commission are the norm. Home sellers can capture tremendous cost savings by understanding just a small amount of how real estate works (such as knowing they can list on the MLS for a flat fee).
For sale by owner (FSBO) means that you are not working with agents whatsoever, in any capacity. Only a real estate agent can list a property for a flat fee on the MLS, so you are technically no longer considered FSBO since you paid the flat fee to have the property listed.
FSBO (not working with agents at all) is typically not successful because nearly 90% of buyers have an agent and that agent will only show your property if you are offering a commission through the MLS. Flat fee MLS solves that problem while still giving the seller a cost savings from not using a commission based listing agent. In addition, the seller may find a buyer who does not have an agent which allows them to effectively pay zero commission (except the original flat fee paid).