What is the difference between a "Flat Fee" and a "traditional", full service listing?

A "Flat Fee” listing is designed and best suited for the savvy, educated Seller (Landlord), who has the experience and time to sell (rent) their home on their own.

With a “Flat Fee” listing it is the Seller’s (Landlord’s) sole responsibility to establish the List (Rent) Price, show the property to a prospective Buyer (Tenant), negotiate and execute a sale (rental) contract and otherwise facilitate the sale (rental).

A “Flat Fee” listing provides a Seller (Landlord) the opportunity to benefit from MLS exposure without losing their "By Owner" privileges.

A “Flat Fee” listing provides a Seller (Landlord) the opportunity to save the Seller’s Agent (Listing Broker) portion of the commission by advertising directly to Buyer’s Agents and Facilitators.

A "traditional", full service listing is designed for a Seller (Landlord), who seeks the representation and expertise of a Seller’s Agent (Listing Broker).

With a “traditional", full service listing, the Seller’s Agent (Listing Broker) does all the work involved in selling (renting) your home, including: 

• Listing the property in the local multiple listing service (MLS)
• Placing advertisements in local media and on the internet
• Hosting open houses
• Reviewing contracts
• Providing advice on pricing, home inspections or other contractual terms
• Negotiating with potential home buyers and sellers
• Locating potential properties for prospective buyers
• Arranging for prospective buyers to inspect properties
• Providing prospective buyers and sellers with pertinent information about a community such as relative property values, most recent selling prices, and property taxes
• Apprising potential buyers of financing alternatives
• Assisting in the formation and negotiation of offers, counter offers, and acceptances
• Assisting with the closing of the transaction
• Closing services

For these efforts, a"traditional", full service real estate broker typically charges a commission that is five to six percent (5-6%) of the home's sales price.