5 Top Flat Fee MLS Companies in Minneapolis
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Joseph Gordon EditorClose
Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
Getting your Minneapolis home seen by buyers is often one of the toughest parts of selling via For Sale By Owner (FSBO). Posting your property on the local multiple listing service (MLS) requires a real estate license, so you have limited exposure to begin with. Fortunately, with a flat fee MLS Minneapolis service, you can list your home for a fixed price and reach more buyers while skipping the high cost of a traditional agent.
However, while this option opens up new possibilities, it may not be the best fit for every seller’s needs. This post will walk you through the ins and outs of flat fee MLS services in Minneapolis, shedding light on the benefits, potential drawbacks, and key players in this landscape.
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What is a flat fee MLS listing service in Minneapolis?
A flat fee MLS listing service can be a powerful tool for homeowners looking to sell their properties without a real estate agent’s involvement. Signing up with one of these services grants access to the local MLS, an essential database aggregating homes for sale.
While typically reserved for licensed real estate agents, flat fee MLS services allow FSBO sellers to list their homes directly on the MLS. This expands the home’s visibility across major search platforms, which often source their listings from the MLS. It also allows sellers to skip the hefty commissions typically associated with hiring a full-service real estate agent.
How much does a flat fee MLS service cost in Minneapolis?
The cost of a flat fee MLS service in Minneapolis can vary widely, ranging from as little as $100 or less to several thousand dollars. More affordable plans cover the basics of listing your property on the MLS, while pricier options tend to include additional features to enhance your selling experience.
For instance, one of the common add-ons is a comparative market analysis, which provides insights into pricing strategies by comparing their homes to similar properties in the area.
The right MLS service package depends on how much support you want throughout the process, so it’s best to choose one that matches your needs and comfort level.
Home Avenue
Home Avenue provides a proven alternative to the traditional commission-heavy real estate model. For more than three decades, the company has focused on affordable flat fee MLS services that prioritize seller savings.
Its approach has helped nearly 30,000 homeowners collectively save millions, with the average seller keeping an additional $10,900 from their sale. The flat-fee system provides the advantages of professional representation without the burden of high costs.
Service areas: Hudson, Saint Paul, Minneapolis, Wright County, Washington County, Scott County, Hennepin County, Dakota County, Carver County, Anoka County, Eden Prairie, Plymouth, Maple Grove, and St. Louis Park
- Basic: $399 for a three-month listing term, up to 10 listing photos, unlimited listing changes, and a fast sign-up process via input forms and e-signatures
- Plus: $698 for a six-month listing term, up to 16 listing photos, yard sign, and open house directional signs
- Showcase: $998 for a 12-month listing term, up to 24 listing photos, MLS listing supplement, professional photo shoot, and email blast to metro Realtors
Accredited by the Better Business Bureau (BBB) since 2005, Home Avenue earned an A+ rating. It boasts a 4.9-star Google rating, as clients emphasize the team’s helpful guidance during the selling process and note receiving multiple offers above the asking price. Many also appreciate the cost savings and transparent approach, making the company highly recommended for its support and professionalism.
Website: homeavenue.com
Phone number: 952-929-7355
Shift Real Estate
Shift Real Estate helps homeowners cut thousands in commission costs while still gaining complete MLS visibility for their property. Backed by licensed agents who follow all state guidelines, the company delivers dependable and professional representation. With a focus on quick communication and client needs, the team works to keep the selling process straightforward and stress-free.
Service areas: Twin Cities, Minnesota
Listing fee: $5,000 for professional photography, pricing guidance, in-ground sign, transaction coordinator, advanced marketing, and open houses
Shift Real Estate holds an A+ rating from the BBB and a 4.9-star score on Google, reflecting strong client trust. Property sellers report how the staff makes selling a home straightforward and worry-free. They highlight the team’s expertise, reliability, and dedication to keeping clients informed at every step. Many praise their professionalism, honesty, and willingness to go above and beyond to ensure a smooth transaction.
Website: shift2sell.com
Phone number: 651-224-4663
Pro Flat Fee Realty
Pro Flat Fee Realty, established in 2015, gives homeowners a cost-effective alternative to traditional commission-based selling by listing properties on the MLS. The team prides itself on quick communication, usually getting back to clients within an hour by phone, text, or email.
From the beginning, agents focus on precise pricing strategies to help sellers capture top value and minimize time on the market. Luxury properties benefit from enhanced marketing options, including drone photography, twilight imagery, virtual tours, and staging tools.
Service areas: Washington, Ramsey, Hennepin, and Anoka counties in Minnesota, and several counties in Colorado
Listing fee: $3,900 for professional photography, social media marketing, virtual brochure sign, open house advertisement, and lock box
Recognized for its commitment to integrity, Pro Flat Fee Realty holds an A+ BBB rating and a 4.9-star Google review average. Clients frequently praise the team’s thorough knowledge of real estate transactions. Some report the clear explanations and hands-on guidance throughout the process, while others emphasize that the service provided the same expertise as a full-service Realtor without the high commission costs.
Website: proflatfee.com
Phone number: 612-998-1919
Byowner.com
Founded in 1996, ByOwner.com offers a cost-effective alternative to traditional real estate services. Specializing in flat fee MLS listings, the company helps sellers reach a wide audience without paying high commissions. Homeowners gain more control over their transactions while accessing legal documents, marketing tools, and customer support.
Service areas: Nationwide, including Minneapolis
Listing fee (price varies by location): $195 for a six-month listing term, transaction support, color flyer, social media marketing, and video upload
ByOwner.com has an A+ BBB rating and a 4.1-star Google score, reflecting clients’ trust in the platform. Sellers say the process is smooth and fast, with many closing in just a few months. The team gets high marks for being helpful, responsive, and clear every step of the way. Overall, users find the site reliable, easy to navigate, and a real timesaver when selling their home.
Website: byowner.com
Phone: 800-296-9637
Real Estate Corners
Since 2001, Real Estate Corners has been helping Minneapolis homeowners as a trusted name in flat fee real estate. Their team of licensed professionals delivers expert guidance and dependable service. With an affordable listing package and optional add-ons, they aim to help sellers save significantly on agent commissions.
Service areas: Throughout Minnesota, including Minneapolis
For Sale by Owner Package: $399 for a six-month listing term, up to 24 listing photos, unlimited listing changes, state disclosures, lead forwarding, and home showing electronic services
Additional services:
- 12-month listing term: $200
- Color brochures: $50
- Email blast to local Realtors: $50
- Yard sign: $150
- Open house directory: $25
- Competitor monitoring: $25
- Market analysis: $150
- Transaction facilitator: Up to $2,000
Real Estate Corners has been accredited by the BBB since 2018 and maintains an A+ rating. It boasts a perfect 5-star average on Google, backed by glowing customer reviews. Clients report a smooth, professional selling experience, praising the team’s attentive support and clear guidance throughout.
Many highlight that the flat-fee service provides everything needed to secure a strong sale without extra stress. Sellers value the responsiveness and expertise, making Real Estate Corners a trusted choice for future transactions.
Website: realestatecorners.com
Phone number: 612-483-1230
How would a Minneapolis seller benefit from a flat fee MLS service?
A flat fee MLS service in Minneapolis can be a smart choice if you want to save money and take more control of your home sale. Instead of paying the typical 5% to 6% agent commission, you pay a single flat listing fee to get your property on the MLS.
With this approach, you can avoid the listing agent’s commission. And, thanks to recent commission changes from the NAR settlement, buyers are now encouraged to negotiate their agent’s commission directly, potentially reducing your overall costs as a seller even further.
The flat fee MLS service is especially advantageous for those with a desirable property in a thriving market who are willing to take an active role in their home sale or prefer not to engage with a licensed agent. But while this service places your home on the MLS, it demands a hands-on approach to selling, from pricing to closing.
When selling your home via FSBO, these are some of the things you’ll have to take care of on your own:
- Using market data to determine an optimal selling price
- Crafting a compelling listing description
- Taking professional photographs
- Executing effective marketing strategies
- Making the required disclosures
- Managing showings and open houses.
- Reviewing offers, negotiating terms, and understanding the purchase agreement
- Calculating closing costs and net proceeds
- Navigating appraisal or inspection issues
- Handling transfer taxes
- Gathering necessary documentation
Pros and cons of using a flat fee MLS listing service
Pros of using a flat fee MLS listing service
- Commission savings: It eliminates the listing agent’s commission, which typically ranges from 2.5% to 3% of the home’s sale price.
- Independent approach: It allows you to represent yourself in the sale of your home.
- Control over the sale: It offers complete control over all aspects of the sale process, from listing to closing.
- Upfront costs: It provides transparency with known, upfront costs for the listing service.
- Broad exposure: Ensures your home is listed on the MLS and popular third-party websites, boosting visibility and capturing a wide net of potential buyers and their agents.
Cons of using a flat fee MLS listing service
- Buyer’s agent commission: The buyer may still negotiate with you to cover their agent’s fee, which can impact overall savings.
- Self-managed sale: It places the responsibility on you to handle any issues that may arise during the sale, potentially delaying or jeopardizing the deal.
- Lack of guidance: Navigating the sale without the expertise of a local professional can be challenging, especially for those unfamiliar with real estate transactions.
- Legal risks: The lack of professional guidance increases the risk of liability claims and other legal challenges.
- Possibly lower sale price: Homes sold without a traditional real estate professional often sell for less, potentially offsetting savings from avoided commissions.
How do I list my home with a flat fee MLS service?
- Step 1: Research the service
Begin by thoroughly researching your chosen flat fee MLS service, examining their packages, rates, and customer feedback. Consult Google reviews and check the company’s standing on the BBB. Confirm the extent of your listing’s details, the number of photos allowed, the availability of forms, and any costs for additional services. - Step 2: Register and choose your package
Register on the service provider’s website, select the most suitable package for your needs, and pay the fee upfront. - Step 3: Submit your property details
Enter detailed information about your property and upload photos. If available, complete the disclosure form provided by the service. - Step 4: Sign the listing agreement
Carefully read and sign the listing agreement. Ensure that the agreement permits cancellation without penalties and does not require you to pay a listing commission. - Step 5: Check your live listing
After submitting your listing, the service will publish it on the local MLS and likely on major real estate websites like Zillow, Trulia, and Realtor.com. Since it may take a few days to appear, regularly check these sites to verify your listing is accurately and completely represented.
Are flat fee MLS listings effective in Minneapolis?
Yes, flat fee MLS listings can be highly effective. In today’s digital age, nearly all homebuyers start their search online, where most platforms source their listings from local MLS databases.
This allows the latest homes on the market to be readily accessible. Moreover, buyers’ agents frequently use MLS data to find properties that meet their clients’ criteria, making an MLS listing one of the most efficient ways to market your home to potential buyers.
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Alternatives to flat fee MLS services in Minneapolis:
If a flat fee MLS service doesn’t seem like the right fit for your home sale, you have other options:
Option 1: Flat fee agent
Hiring a flat fee real estate agent might suit homeowners seeking more control with some professional guidance. These agents charge a flat rate for listing and selling your home, typically between $3,000 and $5,000, with possible extra fees for additional services.
Option 2: Discount brokers
Discount real estate brokers, offering services at a lower commission than traditional agents, provide a middle ground between flat fee MLS services and full-commission agents. While costs exceed flat fee services, they offer basic support and services at a reduced rate. Explore the pros and cons of low-commission brokers to make an informed decision.
Option 3: Full-service, experienced real estate agent
Consider a full-service real estate agent who deeply understands Minneapolis’s market trends and connections for comprehensive service. These agents deliver a range of services, leveraging their experience to sell your home faster and at a better price despite higher commission fees.
Will I save money with a flat fee MLS listing service?
Using a flat fee MLS listing service will save you money on commission fees. However, according to research by the National Association of Realtors, FSBO homes tend to sell for less than those sold by an agent.
For example, the median selling price for FSBO homes was $380,000, compared to $435,000 for homes sold through an agent. While a flat fee MLS service can be cost-effective, selling FSBO might lead to less overall profit.
What if I need to sell my Minneapolis home fast
If selling your home quickly is your top priority, you might want to consider “We Buy Houses” companies or an iBuyer. These entities can purchase your home quickly, often within days, regardless of its condition. While they typically offer less than the market value, they provide a rapid solution when time is of the essence.
You can also consider HomeLight’s Simple Sale platform, which can speed up the selling process by making a direct offer or connecting you with a local agent for more options.
What else should I know about selling a house in Minneapolis?
If you’re selling your house in Minneapolis with a flat fee MLS service, you still need to follow local disclosure laws. These services make some parts of the process easier, but legal contracts and disclosure rules can still be tricky.
Without professional guidance, you could end up facing unexpected legal issues or additional costs from the sale. Because of this, hiring a real estate attorney is a wise move for FSBO sellers.
Key things to remember:
- Flat fee MLS services require payment upfront, which means you’ll pay the fee whether or not your home sells. On the other hand, traditional real estate agents only get paid if the sale goes through.
- Some flat-fee MLS services may frequently change their names, making assessing their track record or success rate challenging.
- With flat fee listings, your contact info is usually included, so you’re the one handling most of the back-and-forth with buyers.
- Flat fee services often don’t assign a dedicated agent, so sellers might have less support during the listing.
- While you’re locked into a fixed rate with flat fee services, the commission fees with traditional agents are often negotiable, offering a potential area for savings.
Ready to sell your Minneapolis home?
Selling your Minneapolis home involves a complex mix of responsibilities and decisions. On the one hand, working with a traditional agent gives you a knowledgeable partner to help sell your home, but it comes with hefty commissions.
On the other hand, going the FSBO route means you’ll be handling a lot of tasks that an agent would normally take care of. This approach can be particularly challenging for those juggling full-time jobs or unfamiliar with the nuances of the real estate market.
A flat fee MLS listing service offers a middle ground, providing different levels of support based on the chosen package, potentially easing some of the burdens of FSBO selling. However, reducing costs through a flat fee service might not always lead to overall savings.
Sellers may still cover the buyer’s agent commission and pay the service fees and could ultimately sell their home for less than they might with a traditional agent’s expertise.
If you’re considering selling your home in Minneapolis and need guidance, HomeLight can connect you with a local real estate agent to navigate the sale process efficiently with their market knowledge and expertise.
Editor’s note: This post is for educational purposes only. Links to and mentions of Minneapolis area flat fee MLS companies are not endorsements. Moreover, the program details mentioned above may change. Visit the company’s website for the most up-to-date information.
Header Image Source: (Tom Conway/ Unsplash)
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