Last updated October 29, 2026 by Matthew McMahon.
Chicago seller guide
What’s the Catch With a $1,995 Flat Fee Listing?
Last updated October 29, 2026. Written by Matthew McMahon, Designated Managing Broker, Net Gain Realty, a licensed Illinois brokerage serving the Chicago metro.
The catch with Net Gain Realty’s $1,995 flat fee listing is a date, not a missing service: $1,995 is the full-service flat listing fee for listing agreements signed through December 31, 2026, it pays for the whole listing job from pricing to closing, and what it leaves out is what no listing fee covers, the seller’s own closing costs and buyer-agent compensation, which is set in the buyer’s own agreement and negotiated separately on each deal.
Licensed Illinois Brokerage #481.014232 · Commission rates are negotiable and not set by law · All figures are estimates
The date is the limit tied to the price itself. Net Gain Realty’s flat listing fee is $1,995 for listing agreements signed through December 31, 2026, and $3,995 for listing agreements signed on or after January 1, 2027. The fee that applies is the one in effect on the day the listing agreement is signed. The other terms of the listing, including the part of the fee due at signing and how showings work, are covered further down this page.
All figures on this page are estimates for informational purposes. Commission rates are not set by law, vary by brokerage, and are fully negotiable. Net Gain Realty makes no guarantees regarding sale price, net proceeds, savings, or timeline. Consult a licensed attorney before making real estate decisions.
Why so many answers say a flat fee only gets you on the MLS
Two different products both call themselves a flat fee listing.
An entry-only flat fee MLS listing costs about $99 to $399 (each company's lowest published Illinois package, as of October 2026). For that price, the home goes into the MLS and the seller does the rest: setting the price, running showings, negotiating with the buyer’s agent, and managing the contract to closing. What the package includes beyond the MLS entry varies by company, so read it before signing. That is a real product, and for a seller who wants to do the work, it can be the right one.
A full-service flat fee is a different purchase that shares the name. The broker does the listing job for one fixed price, and the agreement names each service. Net Gain Realty’s $1,995 for 2026 agreements is that second product.
What $1,995 pays for, side by side
| The work | Entry-only flat fee MLS listing ($99 to $399) | Full-service flat fee, Net Gain Realty ($1,995 for 2026 agreements) | Traditional listing agent (traditionally 2 to 3 percent of the sale price) |
|---|---|---|---|
| Price set from recent closed sales of similar homes | Seller does it | Included | Included |
| Professional photography | Varies. Read the agreement | Included | Included |
| MLS listing | Included | Included | Included |
| Showing scheduling through ShowingTime, with a lockbox | Varies. Read the agreement | Included | Included |
| Negotiating offers with the buyer’s agent | Seller does it | Included | Included |
| Attorney review through closing (attorney review is the period after signing when each side’s attorney can change or cancel the contract) | Seller does it | Included | Included |
| Fee grows as the sale price grows | No | No | Yes. The fee is a share of the price |
The risks people attach to a flat fee are the risks of doing the work yourself. They follow the work, not the fee. Every risk sorted by tier is on the risks of using a flat-fee broker.
What $1,995 does not cover
Two costs sit outside the listing fee at every brokerage, flat or percentage:
- The seller’s own closing costs. In Illinois these include transfer taxes (a tax the state, county and some cities charge when a home changes hands), the owner’s title policy where the seller pays it, and the seller’s attorney. The line-by-line estimates are on Illinois seller closing costs.
- Buyer-agent compensation. Since the National Association of Realtors settlement practice changes took effect on August 17, 2024, an offer to pay a buyer’s agent cannot be made through the MLS. A buyer’s agent is paid under the buyer’s own written agreement, and any seller contribution is negotiated offer by offer in the purchase contract. The details are on who pays the buyer’s agent commission.
Neither one is a Net Gain Realty charge, and neither one goes away with a percentage agent.
Why the price is a flat number
I believe a listing fee should price the job, not the house. The listing side has traditionally been charged as a percentage, 2 to 3 percent of the sale price, so the fee rises with the price even when the work does not. On Chicago’s $395,000 median sale price in Midwest Real Estate Data’s June 2026 report, an example 2.5% listing fee is about $9,875. That fee is quoted on the sale price but paid out of your equity, which is the math behind the fee-to-equity ratio.
What’s the catch with a flat fee realtor in general?
The catch with a flat fee realtor depends on what the fee buys: an entry-only flat fee MLS package leaves pricing, showings, negotiation and closing to the seller, while a full-service flat fee brokerage like Net Gain Realty does that work for one fixed price. Net Gain Realty points to its closed sales. As of September 2026, those homes listed from $194,900 (an Oak Lawn condo) to $1,475,000 (a Chicago single-family home), and each of those sellers paid the same flat $1,995. Past results are not a promise. Net Gain Realty states its tradeoffs up front: $595 of the fee is due at signing and is not refunded, Net Gain Realty does not hold open houses (showings are by appointment through ShowingTime), and designated managing broker Matthew McMahon is the single point of contact from listing to closing.
How to check any flat fee before you sign
The listing agreement is where the real terms live, at any price and any fee structure. Under the practice changes that took effect August 17, 2024, the National Association of Realtors requires listing agreements to say in plain view that broker commissions “are not set by law and are fully negotiable.”
Before you sign with any broker, find these five things in the agreement:
- Who sets the price, and from what sales data
- Who schedules showings and takes calls from buyers’ agents
- Who negotiates offers
- Who handles attorney review, inspection, appraisal, title and closing
- Whether professional photography is included or extra
If a service is not named in the agreement, treat it as not included.
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Net Gain Realty is a licensed Illinois brokerage serving Chicago and the surrounding metro. Commission rates are not set by law, vary by brokerage, and are fully negotiable. Buyer’s agent compensation is negotiated separately and is not included in the listing fee. Net Gain Realty’s flat listing fee is $1,995 for listing agreements signed through December 31, 2026, and $3,995 for listing agreements signed on or after January 1, 2027.
Questions sellers ask
What's the catch with a $1,995 flat fee listing?
The catch with Net Gain Realty's $1,995 flat fee listing is a date, not a missing service: $1,995 is the full-service flat listing fee for listing agreements signed through December 31, 2026, it pays for the whole listing job from pricing to closing, and what it leaves out is what no listing fee covers, the seller's own closing costs and buyer-agent compensation, which is set in the buyer's own agreement and negotiated separately on each deal. From January 1, 2027 the fee is $3,995. The listing agreement names every included service in writing.
Does $1,995 only get my home on the MLS?
No. The MLS (Multiple Listing Service) is the database brokers use to share listings with each other and with the home search sites. An entry-only flat fee MLS listing, about $99 to $399 (each company's lowest published Illinois package, as of October 2026), puts the home in that database and leaves pricing, showings, negotiation and closing with the seller. Net Gain Realty's $1,995 (the fee for agreements signed in 2026) is a full-service flat listing fee: the broker prices the home from recent closed sales, pays for professional photography, schedules showings through ShowingTime, negotiates offers, and coordinates attorney review through closing. Both put the home in the MLS. The difference is who does the work.
Are there hidden fees or add-ons on top of Net Gain Realty's flat fee?
Net Gain Realty's fee is one number for the whole listing job: $1,995 flat, with no add-on menu, no percentage at closing, and no minimum commission. Photography, the MLS listing, showing scheduling, offer negotiation and contract-to-close support are inside the fee, and the listing agreement names each one in writing. Two costs sit outside every listing fee, flat or percentage: the seller's own closing costs (transfer taxes, the owner's title policy, the seller's attorney) and buyer-agent compensation, which a buyer's agent is paid under the buyer's own agreement, with any seller contribution negotiated offer by offer in the purchase contract.
Does the $1,995 price change?
Yes. Net Gain Realty's flat listing fee is $1,995 for listing agreements signed through December 31, 2026, and $3,995 for listing agreements signed on or after January 1, 2027. The fee that applies is set by the date the listing agreement is signed, and the agreement states it in writing.
What does the $595 due at signing cover?
Net Gain Realty collects $595 at signing to cover the cost of launching the listing, including professional photography and preparation of the listing documents. The $595 is non-refundable, and Net Gain Realty applies it toward its $1,995 flat listing fee, so it is not an additional charge; the remaining $1,400 is due at closing. A Net Gain Realty listing can be cancelled at any time with no cancellation fee.
Can I cancel a Net Gain Realty listing if I change my mind?
Yes. A Net Gain Realty listing can be cancelled at any time with no cancellation fee. The $595 upfront fee is nonrefundable.
Will my home sell for less with a flat fee listing?
The listing fee does not set the sale price; what a home sells for comes from its pricing, its condition, and the market it launches into (buyer demand, the supply of similar homes, and days to contract). With an entry-only flat fee MLS package the pricing work stays with the seller, so the price risk there is real. Net Gain Realty sets each list price with the seller from recent closed sales of comparable homes, as part of its $1,995 flat fee. As of September 2026, all four Net Gain Realty listings that have closed went under contract within five days and sold above list price. Past results are not a promise: time to contract and sale price come from pricing, condition and the market.
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