Are you thinking about putting your Kansas City home on the market? Selling your home can be exciting, but chances are good that you’re a little daunted by the process. The good news is that a flat-fee realtor in Kansas City can help streamline everything.

Unsure why to work with a realtor or what a flat fee listing might be? There are lots of benefits to working with an experienced real estate professional, from access to the multiple listing service (MLS) to saving yourself time, money, and sanity. In this post, we’ll walk you through what to know about the KC real estate market, as well as why choosing a flat fee listing realtor is the best option for your needs and what to know to get started.

Key Takeaways

Kansas City is currently experiencing a seller’s market, so the time might be right to sell.
It’s crucial to understand seasonal trends and how they’ll affect your home sale.
With the Fed cutting rates, more buyers will be interested in purchasing KC area homes.
Realtors provide critical services to homeowners but may charge high fees.
Flat fee services help you save money and get your home listed on the local MLS.
Flat fee realtors in Kansas City offer cost-effective solutions, helping you save time and money while working with a local expert.

Kansas City Real Estate: What Potential Sellers Should Know

Before we talk about how a flat fee realtor in Kansas City can help you, or even why you’d want to work with a real estate agent in the first place, let’s take a deeper dive into the Kansas City real estate industry.

The Current Lay of the Land

Your home is your largest single investment. It makes sense that you want to maximize the return you get on its sale. The key to achieving that is timing your sale correctly and ensuring that the market is right.

Currently, Kansas City has a surprisingly strong job market, thanks to significant growth in key areas, like finance, healthcare, and technology. Cerner Corporation and H&R Block are just two of the major employers in town that attract new residents from across the country. The city is also home to some popular landmarks and attractions, including:

The National WWII Museum and Memorial
Rosedale Memorial Arch
The Nelson-Atkins Museum of Art
The Steeple of Light on the Community Christian Church (designed by Frank Lloyd Wright)
Country Club Plaza
Union Station

KC was also recently ranked as one of the 10 best markets for first-time homebuyers in the US by Zillow. The Kansas City Star spoke to a local real estate agent with ReeceNichols, who said, “We are very affordable for what you get. On both sides of the state line, you have a lot of amenities like great parks. The schools on the Kansas side are a big draw. And we’re not too big of a city, so you’re not dealing with crazy traffic.”

That’s a good thing for the city, adding to its growing economy. Of course, proximity to Kansas City itself is a positive for your home, thanks to its vibrant downtown area.

Where are homebuyers looking within the greater Kansas City area? Most of the metro area has pretty decent demand, but some of the most profitable places to put a home on the market include:

Shoal Creek Valley
Gladstone
Pleasant Valley
Platte Woods

Seasonal Trends and How They Affect Kansas City Real Estate Sales

Putting your home on the market at the wrong time can be a costly mistake, whether you’re selling it yourself or working with a flat-fee realtor in Kansas City. Why is that? Simply put, the real estate market fluctuates throughout the year thanks to the change of seasons and the impact of those changes on human activity.

The Best Time of Year to Sell a Home in KC

When should you list your home? If you’re in Kansas City, that would be in spring and/or summer. There are plenty of reasons for this. First, the weather is warmer, and people want to get out and about. Second, kids are out of school during the summer, which is why it’s been the favorite time to move for Americans for decades. The so-called “moving season” runs from Memorial Day to Labor Day.

But what if you can’t list your home during the spring or summer? Failing those two seasons, your next best bet is fall. While most Americans move from mid-May through mid-September, plenty of them opt for the cooler months between Labor Day and the onset of winter.

Kansas City Real Estate Market Condition: It’s a Seller’s Market

Like most of the US, Kansas City is enjoying a seller’s market. But what does that mean for sellers? What is a seller’s market?

A seller’s market is exactly what it sounds like – a period when housing inventory levels and demand mean that sellers will likely not need to haggle over the price.

In a seller’s market, the seller is the one with the power. Multiple buyers may make offers on your home and the property won’t likely sit empty for very long before someone buys it.

However, this is a very different seller’s market than what you might be used to from the last few decades. Previously, a seller’s market often meant that potential buyers might get into a bidding war over a home, and many sellers walked away with more than the home was worth simply due to demand.

Today’s market differs, mostly because interest rates remain high. With those higher interest rates come a few mitigating factors, including:

Fewer potential buyers qualify for mortgages, reducing the number of buyers on the market.
High interest rates may mean that you need to price your home lower to appeal to buyers and reduce the cost of a mortgage.
Fewer people are interested in buying a home when interest rates are high simply because they don’t want to pay more in interest.

However, don’t assume that the real estate market is fixed. The truth is that it’s dynamic and it changes as other factors do, like the prime rate.

The Impact of the Fed’s Interest Rate Cut

In mid-August 2024, the Federal Reserve announced that it was time to cut the prime rate. The financial markets immediately jumped, with the Dow Jones gaining 500 points. That spike was due to investor sentiment (which is really what underpins the stock market) and excitement at the prospect that with a lower prime rate, the interest rates for other financial products would begin dropping.

What is the prime rate?

Forbes defines “prime rate” as “one of the main factors banks use to determine interest rates on loans”. When the prime rate rises, banks adjust their interest rates upward, too. When the prime rate drops, lenders reduce their interest rates. Personal loans, credit cards, auto loans, and, you guessed it, mortgages all cost less when the prime rate is lower.

When will the rate cut take effect?

The Federal Reserve didn’t mention the amount of the reduction, nor did the announcement include a date when the cut would occur. However, there’s a lag between adjustments to the prime rate and the interest rates offered to borrowers.

Most experts predict that we’ll see lower interest rates for mortgage loans by the end of 2024 or the beginning of 2025. So, while there’s no immediate change, there’s definitely light at the end of the tunnel for anyone who’s been waiting for rates to drop before starting the home-buying process.

What does that mean for Kansas City homeowners interested in selling? Simply put, it’s time to start planning. You’ll need a strategy when you put your home up for sale, and that should include whether you’ll work with a traditional realtor, a flat fee realtor, or go the for-sale-by-owner route.

Not sure which is right for you? Let’s dig into the arguments for and against each option.

Smart Money Decisions: FSBO, Realtor, or Flat Fee Realtor?

When it comes time to sell their homes, owners are faced with two prospects. They can work with a realtor and hand over a significant portion of their proceeds, or they can go the for-sale-by-owner (FSBO) route and do all the legwork themselves. Which is better? We’ll kick the discussion off with a dive into the FSBO path.

FSBO: Is Selling On Your Own Wise?

Homeowners interested in selling their homes themselves can list it as for sale by owner (FSBO). However, this means that the owner must take some pretty specific steps, which entail a lot of work and effort. These include:

Coming up with a reasonable price for the property and setting it as the listing price
Marketing the property to potential buyers across different platforms
Managing all inquiries (calls, emails, text messages, messages on platforms like Zillow or Redfin, etc.
Schedule, plan, and host showings and open houses
Negotiate offers from potential buyers and/or their agents
Navigate the final contract with the buyer
Deal with important transaction/closing documents
You have no access to the multiple listing service (MLS)

Of course, some homeowners might feel that the tradeoff is worth it. After all, they get to keep more of their money, right? The truth is that you’re probably not saving that money. In reality, you could be spending almost as much and taking on all that work. Many homeowners may not save very much at all.

According to the National Association of Realtors (NAR), FSBO homes typically sell for significantly less than those represented by a real estate agent. How much less? In 2021, FSBO homes typically sold for $225,000. In contrast, homes listed by a real estate agent averaged $330,000.
Plus, there’s the need to compensate the buyer’s agent. In a traditional situation, the buyer’s agent and seller’s agent split the commission evenly. If you choose to go the FSBO route, the buyer’s agent will still get between 2% and 3% of the sale price, eating into your profits even more.

As you can see, choosing to sell your home without a realtor could mean leaving $100,000 on the table PLUS paying up to 3% of your earnings to the buyer’s agent.

Is Hiring a Realtor Worth It?

Real estate agents can help you keep more money from your home sale. But are they really worth what they cost?

Yes, they are. You’ll find plenty of benefits to using a realtor. However, there’s one big disadvantage: most real estate agents charge the same amount but don’t necessarily deliver the same services or have the same amount of experience and expertise.

Who might you contact? Kansas City is home to a wealth of real estate brokerages, including:

Eric Craig Real Estate
The Sharp Homes Team (EXP Realty)
Rachel Jackson Cox RJC Team
RE/MAX Heritage
Compass Realty Group

So, what should you look for in licensed agents in KC? Here’s a quick rundown of key qualities that indicate you’ve found a great listing agent. Note that these apply as much to flat-fee brokers as to traditional real estate agents.

1. They Listen to Your Goals

Your listing agent should listen to you. A great listing agent will focus on delivering what you need, and the only way to discern that is to listen to your wishes. They will then help you understand what’s realistic so you can set reasonable expectations while they guide you through the process. A good realtor won’t push a decision you’re not comfortable with, even if they think it’s the best option.

2. They Actively Market Your Property through the multiple listing service (MLS)

A great listing agent will advertise your home in multiple ways. When considering agents, check out their previous listings. What did the advertising for those properties look like? An agent worth your time (and money) will invest in professional staging and photography to put your home in the best light possible. It’s all about getting more offers because having more buyers usually means a better sale price.

3. They Negotiate the Best Price

A full-service agent will also handle all the offers and the responsibilities related to them. When a buyer agent submits an offer, your agent will bring it to you, advise you on it, and then take your answer back to the buyer agent. You may go through multiple rounds of negotiations before you settle on a firm price, and your agent will handle all the paperwork, plus the back and forth with buyers.

While all of these services are important to a successful home sale, they come at a cost. You can expect to pay between 5% and 7% of the total sale price. Thankfully, you can choose to work with a flat-fee realtor and skip cost-related headaches.

If you’ve never hired a flat fee realtor before, a brief introduction is in order. Below, you’ll learn more about the flat fee structure, as well as how these professionals compare to conventional realtors.

What’s the Difference Between a Realtor and a Flat-Fee Realtor?

Confused about the difference between a traditional realtor or traditional listing agent and a flat-fee real estate broker? Don’t be.

Flat-fee brokers can offer most of the same services that you’ll get with a conventional real estate agent but for a small flat fee instead of a commission based on your home’s sale price.

That means you pay the same amount for your MLS listing and sales help no matter how much your home ultimately sells for. Of course, you’ll want to ensure that you work with a local flat-fee realtor, because that local expertise brings you:

Local market awareness
A comprehensive network of local contacts
The ability to create an MLS listing as well as knowledge of how the MLS listing service works
Skills in negotiating with buyers’ agents
Deep knowledge of local regulations and procedures

But how do those factors benefit you as the homeowner? A service flat fee broker with local experience can do a lot beyond helping you set the best sales price. Here are just a few advantages:

A flat fee MLS realtor can use their deep understanding of the local real estate market to help you navigate the sales process, answer questions, and more.
A flat fee MLS realtor can use their neighborhood knowledge, recent sales data, and local market trends to set a reasonable price for your home.
Flat fee MLS realtors can help you choose an experienced property assessor in the area.
Flat fee MLS realtors can use marketing savvy and local connections to create excitement about your home and increase the chances of a successful, fast sale.

With that introduction to flat fee service out of the way, you should have a better understanding of what a flat fee realtor in Kansas City can do. However, you probably still have a few questions.

How Do I Find the Best Flat Fee Realtors in Kansas City?

Finding the best flat fee realtor services in Kansas City requires a couple of things. First, you’ll need to be willing to put in some time searching. Second, you need to know what to look for. A flat fee realtor worth your time will have:

Local expertise
Access to the MLS listing service
Multiple packages
Multiple pricing options
Positive customer reviews

What should you look for when choosing a flat fee realtor in Kansas City? Let’s explore some of the most important considerations.

Flexible Package Pricing to Suit Your Needs

With a traditional realtor, you pay a percentage of the sale price of your home. With flat-fee MLS companies, you pay a fixed price. However, that doesn’t mean you don’t have options with a discount real estate broker.

Most of the time, your flat-fee real estate brokerage will give you a menu of flat-fee packages featuring different combinations of services at varying price points. This gives you the chance to tailor your experience to your needs and budget, something that’s not possible with a traditional real estate agent. That adaptability helps you maintain a balance between quality services and cost savings.

Of course, all independent real estate brokers will have their own packages, so you’ll need to 1) know your needs, 2) know what you want to spend, and 3) compare packages to find the right combination of savings and services. For instance, if all you want is someone to list your home on the MLS, you may only pay listing fees if you’re willing to handle the rest of the process yourself.

Customer Reviews and Testimonials

Another important consideration is to check out any flat-fee realtor’s customer reviews and testimonials. Be wary of those posted directly to the agent’s website, however. Instead, check Google reviews and reviews on any third-party platforms. This gives you a good idea of what other customers have experienced with the flat-fee realtor, and what the process will be like for you. You should also watch for specific feedback that indicates a potential agent isn’t right for you, such as:

Hidden fees
Deceptive advertising
Inadequate customer service

The Ability to List on the Kansas City MLS

Flat-fee realtors in Kansas City can list your home on the multiple listing service. That’s one of the big benefits of working with a flat-fee group – you get to save money over using a conventional realtor while still getting access to the MLS.

Not only can flat-fee real estate agents list your home, but they’ll also help you navigate the process of entering a flat-fee listing, which can be a complex process. We’ll discuss some of the most important parts of that below.

Putting Your Home on the Market: How a Flat Fee Realtor Can Help

Working with a flat fee realtor in Kansas City is very similar to working with a conventional realtor, except for the flat fee aspect and the fact that you can choose which services you want most. With the ability to choose from a range of options, you can completely customize the process. Some of the services you should see included in flat fee packages include the following:

Preparing Your Home for Sale

Want to attract multiple buyers and get the best possible price for your home? You’ll need to prep your home correctly. A flat-fee realtor can help with:

Professional staging
Professional photography
Suggesting minor repairs and upgrades

Avoiding Costly Mistakes

Simple mistakes when listing your home can be surprisingly costly. A flat fee realtor can help you avoid missteps like:

Pricing your home incorrectly
Neglecting major repairs that might be deal-breakers
Neglecting simple changes that could save thousands

Communicating with Buyers and Buyers’ Agents

Communication is a big part of the home-selling process. If you try to go the FSBO route, you’ll be responsible for all the communication with buyers and their agents. That’s a huge burden, and it’s complicated by the fact that you have other things to do. This isn’t your day job.

Flat-fee realtors in Kansas City can help you communicate with buyers and their agents by phone, email, and more. They can also host virtual tours, communicate via online listing platforms, schedule showings, and manage all the paperwork involved with these processes. With a flat fee realtor in Kansas City, you gain:

Guaranteed uninterrupted communication with buyers
A designated point of contact for buyers and buyers’ agents
Transparency and accessibility throughout the process
A hassle-free selling process
Positive relationships with potential buyers

Price Negotiations and Help with Closing

To ensure a successful negotiation and closing, Kansas City’s flat fee realtors suggest the following strategies:

Take ownership of the selling process
Utilize a flat fee MLS service
Negotiate commission rates with buyers’ agents
Consult with a real estate attorney

Note that you (the seller) and your agent may not need to be present at the closing if your agent took the right steps. For instance, if your agent prepared the deed and transfer documents ahead of time and got you to sign them, you can usually skip the closing process itself. If that’s not the case, or you didn’t select those services from the agent’s flat fee packages, you will need to attend the closing to sign the deed and transfer documents.

A Flexible, Customized Sales Solution

Ultimately, flat fee realtors in Kansas City offer a flexible, personalized alternative to the traditional real estate sales process or listing your home as for sale by owner (FSBO). Instead of a percentage of your home’s sale price, you pay a fixed fee. You’re also able to choose the level of service you want so you can easily match your budget. However, not all flat fee realtors are the same, so you’ll need to do your research and choose a reputable realtor with positive customer reviews and the right blend of services and affordability.

Frequently Asked Questions

What’s the difference between flat rate and commission models?

A flat fee for home sellers is a fixed charge per listing agent that doesn’t change, regardless of the home’s sale price. A conventional commission model means that you’ll pay between 5% and 7% of the sale price.

Why is the flat fee model good?

A flat fee broker provides a cost-effective option that costs significantly less than traditional agents. Additionally, you’ll usually get an MLS listing, making it easy to find potential buyers.

What are the main advantages of using a flat fee realtor in Kansas City?

Using a flat fee realtor in Kansas City offers cost savings, a free consultation, access to the local multiple listing service, and additional marketing tools for a fixed low flat fee amount.

What is a flat fee listing?

A home seller pays a set fee to have their property listed on the Multiple Listing Service (MLS) and sometimes other listing platforms, rather than paying a traditional percentage-based commission to a real estate agent.

How can local expertise benefit home sellers when working with a flat-fee realtor?

Local expertise within flat fee companies is important so that home sellers can price their homes reasonably and make informed decisions during the selling process.

What should sellers consider when comparing packages and pricing among flat fee realtors in Kansas City?

When comparing packages and pricing between flat fee realtors in Kansas City, sellers should consider the services offered, pricing options, and customer reviews to make an informed decision.

The Best Flat Fee Realtor: Kansas City Options to Know