If you're selling your home for sale by owner (FSBO) in Minneapolis, 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 City of Lakes is approximately 3%. Based on the median sale price for Minneapolis homes, as of January 2020, that translates to about $8,130.
In contrast, typical rates for flat-fee MLS companies in Minneapolis are in between $99 and $799. 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 Minneapolis 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 Minneapolis.
Top Minneapolis Flat-Fee MLS Companies in 2020
Real Estate Corners, Inc
Real Estate Corners, IncPrice Range
$299
Number of Photos
24
Listing Term
6 months
- Real Estate Corners is a licensed, Minnesota real estate brokerage that specializes in flat-fee MLS listing services and flat-fee full representation services
- Listing is live within 24-48 hours of completion of necessary paperwork
- Unlimited listing changes
- No cancellation fee
- Built-in home valuation support
$299 - For Sale By Owner package
- 6-month listing on the MLS
- 24 photos
- Listing syndicated to Realtor.com, Zillow, Trulia, and more
- Unlimited listing changes
- Buyer leads forwarded to you
- Home showing electronic services (showing requests and feedback done online)
- Required state disclosures provided
- Full ad and listing is featured on realestatecorners.com
- No cancellation fee
- Broker listing support throughout selling process
- 2.5-3% commission to buyer’s agent
A-la-carte services include 12-month listing option, color brochures, emails to local realtors, yard signs, open house directory, market analyses, and transaction facilitation
Real Estate Corners also offers a full-service, flat-fee realtor package for the Minneapolis metro area for $600 down, plus $2,900 at closing
Pros
- 24 photos for base package
- No cancellation fee
- Buyer leads forwarded to you
- Unlimited listing changes
Cons
- Full-service option is only for the Minneapolis metro area
- No built-in form assistance
123 Flat Fee Minnesota
123 Flat Fee MinnesotaPrice Range
$299-799+
Number of Photos
6-max allowed by MLS
Listing Term
6-12 months
- 123 Flat Fee Minnesota is a licensed, Minnesota real estate brokerage that specializes in flat-fee MLS listing services
- Typically listings go live in 1-2 business days
- You choose the buyer’s agent commission and pay nothing if you find a buyer
- Home valuation report (not included in Basic plan)
- Buyer and agent inquires forwarded directly to you
- Cancel anytime
$299 - Basic
| $399 - Showcase
$799+1% at closing - Platinum
|
Contract review, negotiating assistance, and closing help can be purchased for additional fees
Pros
- Work directly with the broker, not a referral service
- Buyer inquiries forwarded directly to you
- Cancel anytime
- ShowingTime scheduling and feedback system included in all packages
Cons
- With the Platinum package you may have to forfeit your right to sell FSBO meaning you’ll have to pay buyer’s agent commission
- Doesn’t cover all of Minnesota
As of July 30, 2020, 123 Flat Fee Minnesota has an A+ rating on the Better Business Bureau with an average rating of 5/5 based on 4 reviews.
Minnesota Flat Fee MLS
Minnesota Flat Fee MLSPrice Range
$99-149
Number of Photos
6-25
Listing Term
6 months
- Minnesota Flat Fee MLS is a local affiliate of Brokerless, a nationwide, flat-fee referral service that connects sellers with local brokers
- Your contact information is shown on the MLS
- Set your own buyer’s agent commission
- Free status changes and access to listing on Realtor.com
- Cancel anytime — but no refunds once listing is active)
- Does not offer home valuation or pricing consultation
- Listing is live within 24-48 hours of submission of all necessary paperwork
$99 - Basic package
| $149 - Premium package
|
Open house alerts on Realtor.com can be purchased for $25 each
Prices are subject to change without notice
Pros
- Free status changes
- Lists your contact info for direct buyer leads
- Cancel anytime
Cons
- No listing options beyond 6 months
- No home valuation or pricing consultation
- Cancellation after listing doesn’t include a refund
As of August 17, 2020, no third-party review information was available for Minnesota Flat Fee MLS. We will update when this information becomes available.
National Flat-Fee MLS Services & Brokers Operating in Minneapolis
MLS My Home
MLS My HomePrice Range
$49-99
Number of Photos
5-25
Listing Term
6 months
- MLS My Home is a nationwide flat-fee MLS referral service that connects you with local brokers and agents who will list your home on the MLS for a pre-negotiated rate
- Listings posted on the MLS within 24-48 hours
- Buyer and agent inquiries forwarded to you
- Set your own buyer’s agent commission (within a required range in some locations, e.g. 2-3%)
- Pay no buyer’s agent commission if you find an unrepresented buyer
- Cancel anytime
$49
| $69
|
Available packages, services, and pricing depend on location. Check the website for details about your local options.
Pros
- Cancel anytime
- No commission if you find the buyer
- Buyer inquiries forwarded directly to you
Cons
- Limited options and many states
- No built-in home valuation
- May not offer complete coverage in your state
As of August 17, 2020, MLS My Home has an average rating of 2.5/5 based on 280 reviews across Trustpilot, Yelp, and Facebook.
- Trustpilot: 2.6/5 (236 reviews)
- Yelp: 1/5 (18 reviews)
- Facebook: 2.7/5 (26 reviews)
- BBB: F
Note: MLS My Home will refer you to an independent, local broker who’s level of service and customer reviews may vary from MLS My Home’s, so be sure to research the broker before signing a listing agreement.
FSBO.com
FSBO.comPrice Range
$399.95
Number of Photos
Varies by state
Listing Term
6 months
- FSBO.com is a nationwide flat-fee MLS referral service that connects you with licensed brokerage MLSmart Realty, LLC. MLSmart Realty then handles the listing or refers you to a local brokers who will put your home on the MLS for a pre-negotiated rate
- Set your own buyer’s agent commission (FSBO.com recommends 2-3%)
- Making changes to your MLS listing may have additional fees
- Cancel anytime (possible additional fee)
$399.95 - MLS package
- 6-month listing on MLS
- Syndicated to Realtor.com, Zillow, Trulia, and more
- Approx. 20 photos
- Yard sign (where available)
FSBO.com also has a package for listing on their website — not the MLS — for $99.95
Services, price, and details of FSBO.com flat-fee MLS packages vary by state. States with minimum service requirements may also have additional fees due at closing. Check the website for specifics in your area.
Pros
- Set your own buyer’s agent commission
Cons
- Only one package to choose from
- Experience, additional fees, and service quality may vary depending on your state’s broker
- Doesn’t have full coverage in every state and not available at all in North Dakota
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 Minneapolis
The Minneapolis real estate market is steady. According to Zillow, the median home value rose 3.3% over the past year and is expected to increase by 3.7% 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