Platful.com, a Nashville, TN-based startup launched a few weeks ago, is experiencing faster-than-expected growth in the U.S. real estate market. The company, founded by Josiah Redding, a local real estate broker from the Nashville, specializes in assisting homeowners who have little or no equity in their homes list and sell their properties on the local Realtor-owned Multiple Listing Service (MLS) for a flat fee.
Traditionally when a home is posted for sale on the MLS, the homeowner is asked to sign a listing agreement with the real estate broker promising to pay the broker a certain percentage of the sales price at closing. The portion is typically 6%-7%, but can range from as low as 5% to as much as 10%. On an average $180,000 home, a typical commission might be as much as $10,800.
With new flat fee listing services Platful is offering ,instead of paying a traditional real estate broker a commission, homeowners can opt to pay a small up-front fee of as little as $99 to list their home “For Sale By Owner” on the local MLS. Platful, in turn, contracts with local real estate brokers to enter the property information on the MLS. Owners take their own calls from any prospective buyers, schedule their own showings, and use the company’s included pre-filled contract forms to complete the transaction.
How Platful works
Choose the listing package that meets your needs, then enter your information and checkout. You’ll receive a confirmation email with the listing form to sign and return.
Platful receives your listing information and enters it into the local real estate MLS system. The listing is also syndicated around the world on partner sites.
When buyers see your listing, they can call or email you directly, or if they are working with a buyer’s agent, their agent will contact you to schedule a showings or submit an offer.