Distressed Home Sellers Flock to New Flat-Fee Listing Service

Online, December 28, 2010 (Newswire.com) - Platful.com, a Nashville, TN-based real estate startup launched earlier this month, is experiencing faster-than-expected growth despite the current sluggishness of the U.S. real estate market.

The company, founded by Josiah Redding, a local real estate broker from the Nashville area, 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. The company says their service allows homeowners to save the precious equity in their homes - which in the wake of the current housing bubble has become increasingly scarce.

"Homeowners who have managed to retain some of their home's precious equity are increasingly reluctant to hand it over to a Realtor when it comes time to sell," says Josiah Redding, CEO of Platful. "And many who have no equity in their home whatsoever, and therefore can't generally afford a traditional Realtor, are finding that a flat fee listing is the perfect answer to their dilemma."

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 the recent decline of property values across the nation, this additional expense can take a huge toll on any equity the homeowner has built up in the home.

With new flat fee listing services such as Platful.com, 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. Though sellers manage their own listing, services like Platful.com say sellers will still have access to a licensed broker to answer their questions if any arise.

To find out more about Platful's flat fee listing services, call 1-866-Platful or visit http://Platful.com