If you're selling your home for sale by owner (FSBO) in Lexington, hiring a flat-fee MLS service can help you increase your listing's visibility without breaking the bank.
The average commission rate for full-service listing agents in the Horse Capital of the World is approximately 3%. Based on the median sale price for Lexington homes, as of January 2020, that translates to about $6,000.
In contrast, typical rates for flat-fee MLS companies in Lexington are in between $249 and $999. Nationwide, the most basic plans can be as low as $50 to $99, while more comprehensive services range upwards of $1,000 to $3,000.
It's important to remember that every Lexington flat-fee MLS service is different. When evaluating offerings, be sure to read the fine print: look at things like the length of the listing term (and how much it costs to extend); whether there's a fee to make changes to your listing; how many photos are allowed; the policy on buyer's agent commission; and more.
>> LEARN more about flat-fee MLS services and how to evaluate them.
To help you make the right choice, Clever has picked some of the top flat-fee MLS services across Lexington.
Top Lexington Flat-Fee MLS Companies in 2020
McClellan Gray Real Estate
McClellan Gray Real EstatePrice Range
$399 + 3% or $299 + 3.5%
Number of Photos
30-99
Listing Term
6 months
- McClellan Gray Real Estate is a licensed, Kentucky real estate brokerage that specializes in flat-fee MLS listing services in Lexington, Louisville, and the surrounding areas
- Comparative market analysis included
- Pre-set buyer’s agent commissions (unless you find an unrepresented buyer)
- Staging and contract assistance included
$399 + 3% at closing (2.5% to buyer’s agent and 0.5% to McClellan Gray)
| $299 + 3.5% at closing (2.5% to buyer’s agent and 1% to McClellan Gray)
|
McClellan Gray also offers a full-service option for a 5% total commission and a closing assistance only option. See website for details.
Pros
- Work directly with the broker, not a referral service
- Home valuation included with basic package
- Home listed on at least 2 MLSs
Cons
- Set buyer’s agent commissions
- With basic package, no negotiation, inspection, or closing assistance if you have an unrepresented buyer
As of August 17, 2020, McClellan Gray Real Estate has an average rating of 4.8/5 based on 11 reviews across Google and Realtor.com.
- Google: 4.5/5 (4 reviews)
- Realtor.com: 4.9/5 (7 reviews)
Mink Realty
Mink RealtyPrice Range
$299-999
Number of Photos
6-50
Listing Term
6-12 months
- Mink Realty is a licensed real estate brokerage offering flat-fee MLS listing services to Kentucky and Southern Indiana
- Market analysis included
- Cancel anytime
- Listing typically goes live in 48 hours
- You choose the buyer’s agent commission (2.5%-3%)
- Practices dual agency (if an unrepresented buyer buys your home, Mink Realty will represent you and them and claim the buyer’s agent commission)
- Buyer and agent inquiries forwarded to you
$299 - Silver
| $499 - Gold
|
Additional a-la-carte services include: professional photos, open house sign, listing on a second MLS, rush service, additional open house ads, lockboxes, and more
Pros
- Work directly with the broker, not a referral service
- Buyer leads forwarded to you
Cons
- No built-in market analysis
- Doesn’t offer full coverage in Indiana or Kentucky — see website for details on specific MLS access
As of August 17, 2020. Mink Realty has an average rating of 4.9/5 based on 17 reviews across Facebook and Zillow.
National Flat-Fee MLS Services & Brokers Operating in Lexington
Houzeo
HouzeoPrice Range
$329-429 (+$200 at closing)
Number of Photos
6 to max allowed
Listing Term
3-6 months
- Houzeo is a flat-fee MLS referral service that connects you with Kentucky brokers and agents who will list your home on your local MLS for a pre-negotiated rate
- Draft your listing, upload photos, set your price, and sign MLS contracts via Houzeo’s online dashboard
- Autofills listing details using publicly available info about your home to expedite the listing process
- Home valuation not included in service
- Does not require that you offer buyer’s agent commission
- Listing is typically live within 24 hours of submission
$329 - Bronze
| $429 - Gold
|
All plans require an additional $200 at closing to cover Kentucky's minimum service requirements.
Pros
- Free cancellation anytime (no refunds)
- Freedom to specify any buyer’s agent commission
- Listings typically go live within 24 hours
Cons
- Limited coverage in rural areas
- “Free changes” only apply to listing’s price, status, and property description; $10 for additional changes
As of August 10, 2020, Houzeo has an average rating of 4.8/5 based on 21 reviews on Google.
Flat Fee Realty
Flat Fee RealtyPrice Range
$249
Number of Photos
6
Listing Term
6 months
- Flat Fee Realty is a nationwide flat-fee MLS referral service, licensed in Connecticut, that connects you with Kentucky brokers and agents who will list your home on the MLS for a pre-negotiated rate
- You set buyer’s agent commission
- MLS photo upgrade available for $50
- State disclosures and forms available
- Unlimited listing changes
- Buyer leads forwarded to you
- Refund available within 30 days of purchase
$249 - MLS Listing package
- 6-month listing on MLS
- Syndicated to Realtor.com, Zillow, Trulia, and more
- 6 Photos
- Free state disclosures
- Unlimited listing changes
- No cancellation fee
- Buyer leads forwarded to you
MLS photo upgrade available for $50
Pros
- Unlimited listing changes
- No cancellation fee
- Free state disclosures
- Buyer leads forwarded to you
- Refund available within 30 days of purchase
Cons
- No built-in home valuation or market analysis
- Limited coverage in rural areas
As of August 11, 2020, no third-party reviews exist for Flat Fee Realty. We will update when this information becomes available.
FSBO.com
FSBO.comPrice Range
$399.95 (+ $299 at closing)
Number of Photos
6
Listing Term
6 months
- FSBO.com is a flat-fee MLS referral service that connects you with licensed brokerage MLSmart Realty, LLC. MLSmart Realty then refers you to a regional Kentucky broker who will list your home on your local MLS for a pre-negotiated rate
- Set your own buyer’s agent commission (FSBO.com recommends 2-3%)
- Edit or cancel anytime (may include an additional fee)
- Additional $299 paid at closing to cover state’s minimum service requirements
$399.95 + $299 at closing - Kentucky Flat Fee MLS
- 6-month listing on MLS
- Syndicated to Realtor.com, Zillow, Trulia, and more
- 6 MLS photos ($5 per each additional photos)
- Yard sign
- FSBO.com Listing
- Unlimited photos on FSBO.com
- Video Upload on FSBO.com
Pros
- Set your own buyer’s agent commission
Cons
- Only one package to choose from
- No home valuation included
As of August 12, 2020, FSBO.com has an average rating of 4.9/5 based on 26 reviews on Zillow and an A+ rating with Better Business Bureau.
Note: As a referral service, the reviews and service quality of your local FSBO.com broker may vary. Be sure to research your broker before signing a listing agreement.
Alternatives to Flat-Fee MLS in Lexington
The Lexington real estate market is on the rise. According to Zillow, the median home value rose 4.8% over the past year and is expected to increase by 4% in the next year. To realize your home's full value (or ideally more), it's important to weigh all of your options for selling before making a final decision.
- Flat-Fee Real Estate Agents
- Discount Real Estate Agents
- Low-Commission Real Estate Agents
- 1% Commission Real Estate Agents
- Sell to an iBuyer