New York’s property market has had a strong rebound following the devastation caused by the pandemic. The state is one of the most resilient markets (median sales prices have increased by nearly 30% YoY, as have the number of sales, increasing by 16.7%). The sudden – and sustained – rise in sales enables homeowners to leverage the market through an FSBO sale.
The fact is: by using a Flat Fee MLS; New York sellers can increase the profit margins on their properties by as much as 3%.
How To Find the Best Flat Fee MLS Listing New York?
Given that New York is a robust market, it’s surprising that more sellers are not capitalizing on the benefits available through flat fee MLS. But, on closer inspection, many of the available flat fee options do not support a seller’s primary objective: lucrative sale.
To accomplish that, a flat fee service would need to satisfy multiple prerequisites unique to New York. These prerequisites, listed below, are only achieved by a handful of flat fee MLS New York homeowners can access.
Attract Buyer’s Agents
88% of buyers use an agent or representative. To get these buyers to visit your property, you need to focus on attracting their agents. In the past, the flat fee MLS listing New York homeowners could access would restrict the commission to a predetermined 1% or 2% commission. However, digital real estate disruptors like Houzeo enable sellers to determine the buyer’s agent commission – which means allowing you to select a commission most likely to attract agents, whether that’s more or less than the market average.
Has Relevant Coverage
A unique component – that makes it increasingly difficult for flat-fee options to succeed in New York – is that buyer agents don’t access traditional MLSs. For that reason, you need relevant coverage, not just state coverage. To promote your listing to brokers, your focus should be on syndication through OneKey Gateway MLS and Hudson Gateway MLS, which have ample coverage throughout the state and which you can access through Hauseit or Houzeo.
Listing Term
Cost is a relative. If a service costs more but will get you closer to a lucrative sale, then it’s worth it. But, in terms of a flat fee MLS listing New York, sellers should compare the cost with the overall listing term because that is the only way to determine the value of the service.
Convenience and Speed
The final piece of the puzzle is the features available to sellers. Many features in traditional flat fee MLS listing services – like FSBO.com – operate similar to listing an ad on classifieds, serving only as a medium to MLS more than anything else. Platforms like Houzeo have transformed that. Now, the entire real estate transaction is managed online. You can list, upload supporting documents and get syndication to relevant MLS in two business days. Then using your Houzeo account, you can counter or accept offers on the go.
What Is The Best Flat Fee MLS Listing New York Owners Can Access?
The two principal competitors in New York’s distinguished real estate market are Houzeo and Hauseit. The former specializes in digital-first, fully customizable real estate transactions, while the latter specializes in New York real estate.
Houzeo has revolutionized real estate, much in the same way other tech innovators have changed traditional industries, allowing you to leverage the expertise while benefiting from bureaucracy-free convenience.