With an average cost of a house in Illinois being more than $260,000, a commission of 6% is a serious hole in your pocket. This means that as a seller, you end up paying a commission as high as $8,000 to a listing agent.
Now when comes to flat fee MLS, this can be avoided, and you end up paying a fraction of the cost mentioned above.
For a set fee (often a few hundred dollars), Flat Fee MLS Illinois companies will put your house in the Multiple Listing Service (MLS), the primary directory for current properties. It appears uncomplicated, hassle-free, and financially astute. Still, there’s more to think about.
For a set charge, Flat Fee MLS Illinois companies will promote your listing to a wider audience of potential purchasers. Everything from determining a fair asking price to handling the legal paperwork to arranging showings is on you.
Stick around till the end of this article. We lay down an unbiased review on the top 5 Flat Fee MLS Illinois companies.
Which are the Top 5 Flat Fee MLS Illinois Companies?
Following are the Top 5 Flat Fee MLS Illinois Companies which have been handpicked for you after thorough research:
Houzeo
Launched in 2017 and now located in New York, Houzeo is a massive, nationwide flat fee MLS Illinois company. Houzeo’s “IntelliList” listing management technology is an example of the company’s innovative approach to flat charge MLS. Houzeo is a good option if you’re a tech-savvy vendor who wants to expand your business to a national level.
Houzeo offers sellers the opportunity to save more, they have the best in class technology, stellar customer assistance, and listing visibility are all things that Houzeo excels.
Houzeo’s packages range in price from $299 for the Bronze Plan to $349 for the Silver Package, $399 for the Gold Package (Houzeo’s most popular package) to $999 for the Platinum Package.
Houzeo’s simplicity for the seller lies in the fact that the entire process, documentation, and more can be completed digitally. The thousands of happy Houzeo reviews by customers on sites like Trustpilot and Google lend credence to this.
Beycome
Beycome is one of the most reputed Flat Fee MLS Illinois companies. Their flexible pricing plans are perfect for cost-conscious vendors since they don’t skimp on the features that matter most.
To list your home on the Multiple Listing Service with Beycome, one of the most economical alternatives in Illinois, you can do so for just $99.
Apart from this basic package, Beycome also offers an Enhanced Package which is priced at $399, and a Concierge Service which starts at $599 plus an additional 1% charge as a commission.
When compared to its rivals, Beycome gives you twice as much time as the industry standard six months to sell your home by putting it on the Multiple Listing Service.
The $399 Enhanced Package is worth considering since it includes high-quality photographs taken by professionals and instant uploading to online classifieds like Craigslist.
Beycome also provides a digital dashboard where you can control your home visits, offers, and communications, and previous customers have noted that the dashboard is simple to use even for those who are not tech-savvy.
Prello Realty
It’s no surprise that Prello, whose owner also hails from Illinois, has been a leading flat fee MLS Illinois company in the state for over 2 decades. Both a flat fee service and a full-service agent experience are available via the organization. The majority of Prello’s listings are concentrated in Chicago and its suburbs, although the company also advertises in other parts of Illinois.
Prello Realty offers 3 MLS packages which included the Basic Package which will cost $295, the MLS Plus Package which will cost $495 and the MLS Pro Package which comes at a price tag of $795.
Prello Realty is an excellent option if you’re trying to sell a home on your own despite the fact that you know it will be tough to do so. If you expect your transaction to take a while, it may be worthwhile to invest $495 in the company’s MLS Plus package, which includes professional photos and keeps your listing on the MLS for one year.
The $295 Prello Realty basic plan, which comprises a six-month MLS listing, 25 photos, and limitless listing updates, is also sufficient for this purpose.
Mentor Listing Realty
Mentor Listing Realty, which charges a flat fee, is a wonderful choice if the sale of your house is simple and you need assistance with a few issues along the way. This flat fee MLS Illinois Company has been active in both Illinois and Indiana since 2006.
There are three different MLS plans available from Mentor Listing Realty: the $299 Basic Plan, the $349 Standard Plan, and the $349 Premium Plan.
The firm doesn’t specify what kind of broker support is included in each of its flat fee MLS listing packages, but it does charge an extra $399 for “premium” service that includes help with discussions, paperwork, and closure.
A basic package with Mentor Listing Realty just costs $299, which is far less than many of the other MLS listing alternatives in Illinois. Up to 25 photographs can be added to the listing, and the listing can be updated as often as you like.
Your MLS posting will be active for six months (quite typical when compared to other providers), and you can extend it for another six months for only $99.
Only a small number of customers have left reviews, but those that have praised the firm and its owner, Brian Waters, have spoken highly of their professionalism and responsiveness.
Circle One Realty
Yorkville, Illinois is home to Circle One, one of the greatest flat fee MLS Illinois companies owned and run by Ryan Cherney, a seasoned real estate agent in the Chicago region who focuses mostly on the suburbs.
Prices for Circle One Realty’s four flat fee MLS Illinois packages range from $145 for the MLS Entry Package to $495 for the MLS Classic Package and $495 for the MLS Elite Package.
The owner of Circle One, who is also a licensed agent, has earned rave feedback from satisfied customers. The cheapest option is for unoccupied land alone, and the Basic $295 package is a good deal for what you receive, but any upgrades will rapidly bring the price up to the $495 Classic package’s level, so most sellers will want to go with that one.
It’s unclear why the Elite bundle costs the same as the Classic one yet has more perks. It makes sense to take advantage of the free upgrade. Whether Circle One intentionally structured the bundles this way to boost upsells or whether they were simply poorly thought out, the situation is confusing.
Circle One Realty is the greatest option for vendors that have a firm grasp of the services they need and do not require.
Do Flat MLS Illinois Companies Have Hidden Charges?
Some businesses may say they provide MLS service for a set rate but then hit you with surprise costs at the end. Some organizations even pretend to give a free MLS listing, only to hit you up for a cut of the profits after the deal closes. These shady dealings may cost you a few hundred bucks, but they may end up costing you thousands.
When using a flat-rate MLS service, you must read every pointer mentioned in the listing agreement and look for any admin fees or closure fees at the end which is additional. There is a chance that a broker may charge you more than the stated flat fee as agreed upon earlier.
In addition, some firms that provide MLS listings for a set rate also provide supplementary services including paperwork assistance, signage, and photography. There is a risk of outsourcing some of your work to these providers, but there are also benefits. The cost of all these extras might quickly mount up!
It may be more cost-effective in the long run to locate a full-service agent that offers a transparent and competitive flat rate.
How Much Is a Flat Fee Listing in the Illinois Multiple Listing Service?
Flat Fee MLS listings in Illinois can start from $199 and can also go up to $795. Premium packages include extra services including broker help, discounted rates, and document work.
However, hidden fees are something to watch out for. Many dishonest brokers may use the promise of a $99 listing to lure you in. Just be wary, since that’s the beginning. You’ll end up spending an extra $500 or more in shady charges.
The price of a yard sign is $135. Some brokers may try to tack on unexpected fees right before closing when it’s too late to do anything about it.
Final Word
Now that you have an understanding of how flat fee MLS companies work, what are their respective packages, what should you be wary of, and the fact that hiring a full-service real estate firm to handle the sale of a seller’s house is not always necessary, lead us to the point that you can sell your home at a fraction of the price without burning a deep hole in your pocket.
In Illinois, Houzeo is one of the finest flat fee MLS companies backed by its sophisticated technology, stellar customer service, affordability, quick sales, wide coverage, and thousands of positive reviews on the internet to help you sell your house in a hassle-free way in 2023.
