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Realtors Flat Fee MLS Listing Services FAQ
Flat Fee MLS - FAQ
- 1. This is the SAME MLS which
traditional full service brokers around the corner from your property would charged you a
6% or 7% commission to list your property in. It is the SAME COMPUTER DATABASE which
those realtors own and operate.
- 2. This service is available for
residential property generally and includes homes, vacant land, and multi-family
residential buildings. It is usually not available for commercial property like gas
stations or convenience stores. Call us if you have commercial property, FLAT FEE
MLS service for commercial property is available for some areas.
- 3. You do not pay the listing broker
any commission for their "Listing Services", they just get a FLAT FEE for entry
of your listing in the MLS and usually the ONLY SERVICE you get is that data entry.
The listing realtor ordinarily does NOT provide any transaction or consulting services for
you and they will NOT be representing you by reason of this FLAT FEE MLS LISTING
SERVICE. Most of the listing brokers providing these services are able to provide
(for an ADDITIONAL FEE) any additional services you may like to request from them.
- 4. You only pay a commission to the
broker who procures the buyer.
- 5. After your order is completed
online the page confirming that your payment is complete will have a link to print out the
REQUIRED MLS FORMS. Those forms have all the details about your home and comments
which go into the MLS. The realtor will activate the MLS listing and and email you
notification of your MLS number after you return those forms, so send them back promptly.
- 6. Those agents working with buyers
will bring their buyer clients over and show them your home. Usually they will call
you for the appointment and you can meet them there to let them in the house or buy a
key-lock box so they can enter the property when you are not there. The lockbox
option is strictly YOUR CHOICE and you will see it on the order page when
you check out, the lockbox option is normally $49.50.
7. After you order is completed you
can immediatley upload your photo(s) online after you set up your
FREE FSBO AD HERE, or you can email us the photo(s) for the MLS listing, or you can
mail us regular photo(s) for FREE SCANNING.
8. Our Standard Yard Sign is included FREE, if you
want one just check-off the FREE-SIGN option on the order page (if you do not check off
the FREE SIGN option on the order page it is NOT shipped to you). The yard sign has
a blank for you to insert YOUR PHONE NUMBER so you can get those Buyers Leads from the
yard sign yourself.
9. You also have the option to
purchase a professionally produced Virtual Tour, you will see that option and an example
on the order page.
The Details about This Hybrid
Marketing Method
Using this Flat FEE MLS listing service, the Sellers can usually offer these
Buyer Agent Realtors whatever percent commission they desire, but owners should consider
that offering less than the traditional 3% could affect these Buyers Agent Realtors
"degree" of interest in showing your property to their customers. Also, in
some areas the listing brokers do not want to offer the Buyers realtors less than the
"normal" rate (normally this is 2% to 3% commission) because they do not wish to
be discriminated against by the established Realtors in the area who want to keep the
commissions higher. So in this EXAMPLE, instead of 6% commission, you would
pay the fixed dollar listing fee and the 3% Buyers Agent commission if and only if you
sell a home to a buyer who was brought to your property by a Buyers Agent Realtor.
Anyone using this method should require each "Buyers Agent" Realtor to
accompany each of their potential buyers who come to view the property and keep a WRITTEN
LOG of the names of each Realtor and their prospective buyer and the date they viewed the
property along with the Realtors initials on that log. This could be very useful in
the event of any dispute with or between Realtors about which, if any, brought the
ultimate buyer to see your property and is entitled to earn the 3% commission. You
should also keep a log of everyone's name and date that came to see your property from
your FSBO efforts as well. It is not uncommon for prospective buyers to contact
several Realtors in the process of searching for property as well as looking into property
advertised FSBO. If the Realtor does not accompany the prospective buyer or if you
do not keep records, you may not know for sure who, if anyone, is entitled to be paid the
Buyers Agent commission. If you sell your property yourself from your own
advertising efforts or your Yard Sign, you
do not have to pay the 3% Buyers Agent commission. In effect you are paying a
"Flat Listing Fee" instead of the normal Listing Realtors 3% commission,
offering Buyers Agents whatever Commission you desire, and you have the option of selling
your property FSBO without paying that Buyers Agent commission. The trade off is
that since you only pay a modest fixed listing fee you will get no transaction assistance
or advice from the listing Realtor. The listing Realtor is merely granted
authorization to list your property with the MLS so it will be available for all other
Realtors who are working with potential buyers to try to sell and earn the "Buyers
Agent" commission you offer them. The upside is you can continue to market your
property FSBO at the same time and if you find a buyer before the Buyers Agent Realtors
do, you pay no commission to them.
Considering that this Realtor Flat Fee MLS alternative allows for both the
increased exposure to potential buyers who may be working only with a realtor (at a cost
to the seller of 3% commission rather than 6%) and the continuing opportunity for the
owner to sell the property FSBO and still avoid Realtor commissions entirely if the owner
finds a buyer first, this is an alternative which property owners should research, become
knowledgeable about and consider Before you settle on Your Marketing Plan.
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Popular Coverage Areas
Details about the Realtors Flat Fee MLS Service
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Arizona - Service for Phoenix and Rim Country
areas. |
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California |
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Colorado - Service for most areas. |
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Connecticut - Service for central and western
state areas. |
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Florida |
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Georgia - Service for Atlanta and most
Central Georgia areas. |
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Illinois - Service for Chicago and
Northeastern Illinois areas. |
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Kansas - Kansas City and Eastern State Areas. |
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Louisiana - New Orleans and Surrounding
Areas. |
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Maryland - Service for most
areas. |
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Massachusetts - Service for
most areas. |
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Michigan - Service for
Detroit and surrounding areas. |
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Minnesota - Service for All
areas. |
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Nevada - Service for most
areas. |
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New Jersey - Service for
most areas. |
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New Mexico - Service for
most areas. |
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New York - Service for most
areas. |
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North Carolina |
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Oregon |
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Ohio - Service for
most areas. |
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Oklahoma - Service
for most areas. |
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Pennsylvania |
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South Carolina - Service for
Charleston, Greenville, & most areas. |
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Tennessee |
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Texas |
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Utah - Service for all Central and Northern
areas. |
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Virginia - Service for
Central - Northern State areas. |
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Washington DC - All areas. |
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Washington State - Service for Seattle -
Tacoma and western Washington State areas. |
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Realtor.com $299 Advertising Service - This
Service is Available NATIONWIDE. |
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