The real estate brokerage industry is evolving to accommodate modern consumer demands. The Department of Justice, in a letter to Governor Bill Blunt of Missouri dated May 23, 2005 [1] provides a summary of these changes. The reference cited for this excerpt is a letter written by the DOJ to encourage Governor Blunt to veto a bill that, according to the DOJ, would have reduced consumer's options and increased the cost of selling real estate in Missouri. The excerpt follows: "Traditionally, real estate professionals have performed virtually all services relating to the sale of a home. The key tasks involved in selling a house include marketing it, negotiating with potential buyers, and closing the transaction. Marketing includes listing the property in the local multiple listing service ("MLS"), placing advertisements in local media and on the Internet, and conducting open houses. Contract negotiation services might include providing advice on pricing, home inspections, or other contractual terms. For these efforts, the real estate professionals are typically paid a commission based on a percentage of the sales price of the home.

"It is becoming increasingly common for home sellers to buy some, but not all, of the traditional brokerage services. For example, some sellers might want help advertising their homes, but want to negotiate the sales price themselves. Such consumers might prefer to pay a real estate professional only for the service of listing their homes in the local MLS and placing other advertisements. Other consumers might find a buyer without assistance, but would like to hire a real estate professional to assist them with the negotiation of the sales price or with the paperwork required to close the transaction. The marketplace is evolving in response to these consumers. Real estate professionals who are willing to provide only those services a home seller wants have emerged in Missouri and throughout the country. These "fee-for-service "or" menu-driven "business models are currently legal under Missouri law and typically enable consumers to save thousands of dollars because the consumers pay only for those services they want."

Within the nontraditional real estate services market, there are multiple programs offered to sellers that share the common objective of saving the consumer money by reducing the overall expense of selling real estate. A "nontraditional service" does not automatically entail "limited service". For instance, some full service agents list properties under a full service agreement but charge a "flat rate" that is not a percentage of the sales price. This full service option usually is a discounted full service listing, but it is different from the "Flat Fee" MLS service which is the subject of this discussion. Until the industry evolves and adopts a standard practice of terminology, both consumers and real estate agents will continue to experience some confusion over the terminology describing the services being offered. In all circumstances, the consumer should thoroughly understand the services being provided and the manner of compensation for those services.

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