People seek to preserve the proceeds from the sale of their home; if there are no gains, they seek to preserve as much of their original equity as possible. Boise certainly felt the repercussions of the housing boom, as well as some subsequent housing deflation. After all, who in Boise isn’t familiar with someone who invested their copious profits from California home sales in a home or investment property in the Boise area? Also, some of the same investors who were buying properties in Arizona and Nevada moved to the Boise side. The years of low interest rates also allowed many more people to enter the housing market and at higher prices than before.
Understanding Boise flat fee MLS programs requires that you first understand how real estate brokerage works in and around Boise. Runners in Ada and Canyon counties are members of the Intermountain MLS system. (Actually, the system is quite large, even extending to areas outside of these counties, such as Twin Falls.) This MLS system provides brokers with a place to post their properties for sale. It also allows brokers the ability to offer compensation to other broker members if they represent a buyer purchasing a listing. Being a member of this system is the main reason a real estate graduate becomes a RealtorĀ® and joins the local association in the first place.
Because the MLS gives agents and buyers the ability to know exactly what is for sale, what is under contract, and what has recently sold, it has become the de facto marketplace for any and all real estate. on sale. Someone looking for a 4 bedroom house in Kuna, over 2000 square feet, but with a certain price can do a specific search and find exactly that. They can also use the MLS to see recent comparable sales to determine what they want to offer on a property.
Most Boise home sellers still hire a traditional full commission agent to get their property listed on MLS. Some, however, have discovered the fact that you can hire a fixed fee MLS company to list your home on the MLS for a fixed fee and no listing fee. Although they are licensed by the State of Idaho as real estate brokers, they operate on a high volume, low cost model that allows them to provide this service. Sellers in Boise and virtually every submarket, including Eagle, Meridian, Kuna, Caldwell, Nampa, Middleton, Star, and others, have successfully sold homes through these programs. The trend is clearly showing an increase in these types of listings and these types of brokers have received all kinds of positive encouragement from the United States Department of Justice, which is interested in increasing competition in the real estate brokerage industry. Even sellers who hire a traditional agent to sell their home will benefit from Boise’s flat fee MLS programs because your agent will need to provide proof of extensive services provided to justify the higher fees. Look for flat fee MLS listings in Boise and throughout Idaho to increase over the next few years.