Beware of Impostors!
in how they word what they are doing so you naturally assume you are on the WFRMLS, but you aren’t. Most of the flat Rate guys don’t use the official WFRMLS which begs the question, exactly w at are you getting? Note the sentence just above the “Some Red Flags” passage.
Utah law is quite clear and any Licensed agent must abide. The only way around this issue is by NOT being licensed in the State. They can’t and don’t. If you contract with one of these firms and they make this claim and you don’t sell, you have a legal action.
Same as above. Any up front fees are playing to the suckers out there. Utah law is clear. The law mandates this be done as a part of the process so again, exactly What areyou getting with these so called Flat Rate Listing guys?
Why do firms do this when they know it’s against the law, even some of the Utah firms who are properly licensed? They find 100’s of people each month who are willing to pay up front thinking they will sell and save a lot of money in commissions but usually after all the add-on fees, sooner or later the customer discovers the real story. These companies are playing a numbers game. They will take the up front money from 100’s and pay the fine should someone actually go to closing and lodge an official complaint about their lack of representation or charging for things they are required to do by statute, but these types of complaints are very rare.
And since the odds of a listing actually going to closing are also rare, they simply pocket all the up front fees and market to the next sucker. To them it’s a numbers game and all about getting listings with up front fees, not about actually selling. Even the ones that say it is about selling and have some sort of graduated commission where they make more if you do in fact sell, are skirting the edges of legality because their Main Source of revenue is the Up Front Fees. Never Go with anyone who wants to charge you up front fees for anything.
Real Estate transactions need to be based upon results, including Flat Rate commission deals.