The flat fee that you pay the Miami Realtor replaces the much higher MLS listing fee, usually 2.5% to 3.5% of the sales price, that you would be obligated to pay if you were using a full service Miami real estate broker. You will never have to pay additional fees to the Miami Realtor that are typically based on the selling price. You will, however, be required to pay a cooperating brokerage fee, usually between 2 to 3 percent, stated as a percentage of the total purchase price. The  closing agent issuing the title insurance policy(s) will be be instructed, pursuant to your purchase and sales agreement (or listing agreement), to disburse any fees due to the Cooperating Broker.

Miami Flat Fee MLS Home Selling Savings Hypothetical

Miami Full Service Listing without Flat Fee

$500,000 Sales Price

3% Commission to Buyer’s Agent: $15,000

3% Commission to Seller’s Agent: $15,000

Miami Listing with Flat Fee MLS Discount

$500,000 Sales Price

Commission to Buyer’s Agent: $0 – $15,000

Flat Fee to Brokerless, Inc: $295

Discount Realtor Savings to YOU: $14,705 (minimum)

$29,705 (if buyer does not have agent)