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Real Estate Industry Trends

The real estate industry is one of the few industries that successfully resisted change from the internet. However, in recent years, we are starting to slowly see this taking place, and that is good news for buyers and sellers!

Real estate information is now (mostly) freely available to the public online through sites like Realtor.com, Zillow, Trulia, and MLS websites.  This allows consumers to be educated coming into a transaction, and no longer needing to rely exclusively on an agent to help them purchase a home.  In years past, your agent brought homes to you that met your critera, but now days buyers are finding their next homes online, and then contacting their agent or the listing agent to see the home.

90% of home buyers used the Internet to search for their home. For buyers under the age of 44, it jumps to 96%.

- Statistic from the 2012 National Association of Realtors Profile of Home Buyers

This change relies heavily on the MLS and syndication channels to display homes for sale on the various websites.  In the past, the only way to get your home on the MLS was to use a full service agent.  With the expansion of Flat Fee MLS in recent years, sellers can choose to do the work of the listing agent on their own, and get on the MLS for a flat fee instead of paying the traditional commissions.
So, what really is the difference between Full Service and Flat Fee MLS?  Continue for a comparison!

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