Selling a home in New Mexico and looking to save money on realtor fees?
Many budget-conscious sellers are trying for sale by owner (FSBO) to save costly agent fees. But without an agent, they won’t have access to the Multiple Listing Service (MLS), an agent-only database where the vast majority of homes for sale can be found.
Luckily, you don’t have to spend a ton on a full-service agent to use the MLS. For a one-time fee, FSBO sellers can use New Mexico flat fee MLS listing companies to save on agent commissions while still using the power of the MLS to reach buyers.
But the downside with New Mexico flat fee MLS listing services is that you won’t get most of the perks that come with a full-service agent, including help with important, legal paperwork.
If you want to avoid overpaying for realtor fees but still want hands-on support from your agent, we recommend checking out Clever Real Estate. Clever negotiates flat 1% listing fees with top New Mexico agents from trusted brands like Keller Williams and RE/MAX. You’ll get guaranteed full service from a great local agent, but pay a fraction of the typical price.
Who are New Mexico flat fee MLS listings best for?
Flat fee MLS listing services are best for home sellers who have lots of experience with real estate transactions and are comfortable selling without a realtor. You’ll need to be confident that you can handle almost every aspect of the sale that a real estate agent would typically take care of.
If you’re determined to list your house “for sale by owner,” it’s worth investing in a basic flat fee MLS listing. This ensures that as many buyers see your listing as possible.
But selling your home without a realtor is a big time and work commitment. You’ll have to handle a lot of tasks, including pricing, listing descriptions, photography, marketing, showings, and negotiations. And remember that even though you won’t pay a traditional listing fee, you’ll still probably be on the hook for the buyer’s agent commission, which typically runs between 2-3%.
The average New Mexico home seller is better off working with a flat fee real estate agent or discount realtor who charges reduced listing fees but still offers the same basic services and support as a typical realtor. You’ll still save thousands of dollars on realtor fees, but you’ll avoid the hassle and frustration of trying to sell by owner.
Top 3 New Mexico flat fee MLS listing companies
Top Flat-Fee MLS Companies in New Mexico
🥇 For Sale by Owner New Mexico: Best for first-time FSBO sellers
🥈 Affordable Realty Services: Best for premium flat-fee services
🥉 Congress Realty: Best for low-cost and simplicity
|For Sale By Owner New Mexico||Affordable Realty Services||Congress Realty|
|Number of Photos||30 to 99||50||4|
|Listing Term||12 months||12 months||6 months|
Not seeing a company you like? Check out the best nationwide flat-fee MLS companies!
For Sale by Owner New Mexico: Best for first-time FSBO Sellers
In business since 2002, For Sale by Owner New Mexico is run by Lisa Hebenstreit, a licensed real estate broker. With their mid- and upper-tier plans, you get guidance from a broker who knows the area and can help fill out forms, two huge advantages for sellers trying FSBO for the first time.
Lisa Hebenstreit Realty, LLC has plenty of glowing reviews on Zillow, where she averages 5 stars. She’s also listed as an accredited business with the Better Business Bureau, where she has an A+ rating.
For Sale by Owner New Mexico is a smart choice for first-time FSBO sellers who might need a little extra help along the way.
|I've Done This Before||$395||Just like the name says, this is a cost-effective plan for experienced FSBO sellers. It’s a little more expensive than some other basic packages, but it includes up to 30 photos and a yard sign, both of which are often add-ons for basic plans.|
|I'd Like Professional Guidance||$795||For sellers with less experience, the mid-tier plan offers a lot of extra help with things like real estate forms and guidance and consultation with a local broker. Competitive market analysis included to help sellers accurately price their home.|
|Just Give Me The Works!||$995||Adds up to 99 photos and the option to electronically sign documents. Sellers will have to decide if these upgrades are worth an additional $200 to them.|
Other considerations about For Sale by Owner New Mexico
- Offers a refund of the listing fee if the sale is unsuccessful and the seller decides to partner with a full-service agent recommended by the brokerage.
- The website offers many legal forms available for download.
If you are an experienced FSBO maverick, the lowest tier plan here might be a tad on the expensive side for what you’re getting. If, however, you are in need of a little extra help with paperwork, For Sale By Owner New Mexico offers great value with their affordable plans.
Affordable Realty Services: Best for premium flat-fee services
Affordable Realty Services has been providing flat-fee MLS services in the Albuquerque area since 1996. Their website claims they have sold over 1,700 homes, helping customers save over $10 million in fees along the way.
Affordable Realty Services has mostly positive reviews on Yelp and Google, however, there are negative reviews about not being able to reach the agents and/or disagreements in setting a price for the home.
The Basic and Basic Plus listings are pretty typical for cost and services provided, but their top-tier “full service” flat fee package is what sets them apart by offering services like showings and open houses conducted by an agent.
|Basic Flat Fee||$485||The basic MLS listing includes up to 50 photos, more than most basic plans, but maybe might not be worth the cost unless you really want to show off your home. Open house postings on the MLS are also included in this package.|
|Basic Flat Fee Plus||$650||This package adds a realtor lockbox, which could be convenient for those selling a vacant home. Agents and clients who have seen the home also receive an automatic request for feedback, so you can learn why a potential buyer chose to pass and adapt your sales pitch accordingly.|
|Full Service Flat Fee||$1,595||This one’s a bit more expensive than most top tier plans, but it includes agent showings and a lot of help with the finer details, such as assistance with negotiating offers and repairs. But remember to keep your expectations in check: this likely won’t be the same kind of attention you’ll get with a traditional, full-service agent.|
Other considerations about Affordable Realty Services
- Offers a $795 FSBO Purchase Agreement for sellers who have found a buyer but just need help with the closing.
- Add-ons include realtor tours for $125 each and 3-hour open houses run by an agent for $125 ($155 for Sundays.)
While the most useful package at Affordable Realty Services is more expensive than some of their competitors, this is a good option for sellers who aren’t sure what extra services they might need and are looking for as much extra help as possible.
Congress Realty: Best for low-cost and simplicity
Congress Realty is a licensed brokerage that serves most Western U.S. states. In New Mexico, they serve “virtually the entire state except Farmington.”
With over $2 billion in sales volume since 2002, it claims to be “the largest provider of Flat Fee MLS Listings in the United States.” The company has an average of 5-stars on their reviews on both Yelp and Zillow. The vast majority of the reviews mention the company’s responsiveness and the ability to use its expertise to help clients.
Congress Realty is a great option for sellers who want a simple, bare-bones way of listing on the MLS. Plus, unlimited changes to your MLS listing means you can tweak the description as often as you like.
|Standard Flat-Fee Package||$299||One of the lowest cost options available, this package will suit the needs of sellers who have experience with FSBO and don’t require more than a few photos to show off the home. This package comes with unlimited changes.|
Other considerations about Congress Realty
- Available in most, but not all areas of New Mexico.
- For sellers who want more photos, open house advertising, and automatic phone call forwarding, a $150 add-on is available.
Congress Realty is a great choice for sellers with some confidence in their FSBO abilities. Their low starting price is a huge plus, and they offer a number of add-ons to effectively customize your service package without paying for anything you don’t require.
Alternatives to flat-fee MLS companies in New Mexico
Flat-fee MLS companies are great when they fit your home selling needs, but they’re not right for every situation. If you think FSBO will be more work than it’s worth, there are other options:
- Discount brokers: These agents work just like other agents, but for a discounted commission rate of usually 1 or 2%. Remember that when selling, you’ll also have to pay the buying agent’s commission.
- iBuyers: These buyers will take your house off your hands in just a matter of days, but there are downsides to consider. Your home must meet certain criteria, they will charge you a hefty (up to 14%) convenience fee, and you won’t be able to negotiate the price.
If you think going the more traditional route of using an agent to sell your home is the right path for you, consider our friends at Clever Real Estate. Clever can match you with a full-service agent and 1% commission (or $3,000 fee on homes below $350,000).
Frequently asked questions about flat-fee MLS in New Mexico
What is the best flat-fee MLS listing service in New Mexico?
Flat-Fee MLS New Mexico is the best company in New Mexico for FSBO sellers who have experience selling on their own. Affordable Realty Services is a great option for people who want to save on commissions but are willing to pay for additional help such as agent showings. It’s important to understand the advantages and drawbacks to each of these flat-fee MLS options. Be sure to read our complete guide to flat-fee MLS companies to learn more!
How much do flat-fee MLS services cost in New Mexico?
Flat-fee MLS services in New Mexico generally cost anywhere from $300 to $1,000, depending upon the services provided. One provider, Affordable Realty Services, has a “full-service” package for $1,600, but this includes more hands-on agent work than other companies. If you’re looking to save money, but still would like the help of a full-service agent, a discount real estate company could be a viable alternative to a flat-fee MLS provider.
Are flat fee MLS companies in New Mexico worth it?
Hiring a New Mexico flat-fee MLS company, like Affordable Realty Solutions or Congress Realty, will get you on the MLS, but not much else. This is great if you know what you’re doing. But if you need someone to talk to about your options, local 1% agents are available to help. Find the best 1% commission agents in New Mexico.
How do I tell if a flat-fee MLS company is legit?
To make sure that a New Mexico flat-fee MLS company is legitimate, read the contract very carefully before signing. Most customer complaints about these businesses are about surprise fees. The contract should list all fees clearly and explain which services will incur add-on fees. If the contract is confusing or you get a feeling something is off, you can walk.
Look for reviews from past customers, too. Be sure to research reviews for the flat-fee MLS company itself as well as the broker by name. If you notice a pattern of similar complaints, expect more of the same for you.
Do you need to pay a buyer’s agent commission with flat-fee MLS?
Most New Mexico flat-fee MLS services let you decide how much commission you want to offer to the buyer’s agent. The standard buyer’s agent commission is 2.5-3%. Without this standard rate, agents don’t have any incentive to bring clients to see your home.
Are seller disclosures required in New Mexico?
Sellers must disclose specific defects of a home within their “actual knowledge” before the sale according to New Mexico’s Real Estate Disclosure Act. Property sellers are not required to hire an inspector before filling out the seller’s disclosure form, and the form is not a contract, meaning there are no guarantees. However, sellers who intentionally misrepresent the condition of the home can be held liable for fraud.