FLAT FEE MLS FAQ's
Q: What is the Multiple Listing Service? (Also known as the MLS)
A: The multiple Listing Service (MLS) is the National Association of Realtors (NAR) computerized list of homes currently for sale. The Multiple Listing Service (MLS) is the primary data system that most Real Estate Agents use to market and sell property.
This is the most powerful marketing tools the Realtors have. This will put your home in front of thousands of hard-working buyer agents and their serious, qualified buyers.
Q: How will I save thousands with your Flat Fee MLS?
A: The illustration assumes that you list your property with traditional real estate company (for example, Re/Max, Century 21, Coldwell Banker, etc). Under this illustration, let's assume your home sells for $300,000 and that you paid $499 fee for the MLS option. Your commission would be $9,000 plus our $499 fee, for a total of $9,499. This is calculated as follows: $300,000 x 3%= $9,000 paid at closing and our fee of $499 (paid at time of listing). Now, let's compare the savings if you listed your home with a traditional broker for 6%. The commission on a $300,000 sale with a 6% commission rate would be $18,000 ($300,000 x 6% = $18,000). Therefore the savings would be $8,501 ($18,000 - $9,499 = $5,601).
|Selling Price||Traditional 6% Realtor Commission||499+3% Commission||Your Savings|
Remember, if you find a buyer on your own, you pay NO commission.
Q: Is this the same Multiple Listing Service (MLS) to which all area Realtors belong?
A: Yes. All participating MLS Realtors belong to their local association of Realtors
Q: Will real estate agents show my home?
A: real estate agents will be paid the normal/traditional real estate commission. Realtors almost exclusively rely on the MLS to locate homes that match their buyer's needs. The MLS listing will show that the home is listed and that there is a buyer's agent real estate agent commission payable.
Q: Will my home be on the Internet?
A: Yes, your home will be listed on our website, realtor.com, 100's of local real estate websites and on many other regional and national real estate websites.
Q: Must I have a lock-box?
A: No, but Realtors depend on quick and easy access.
Q: Is it true that Realtors using the MLS sell most houses and that they usually sell for a higher price?
A: Yes, it's true. According to the National Association of Realtors, approximately 80% of all U.S. homes are sold through Realtors using the MLS and homes listed on the MLS average net proceeds of 7% higher than homes sold for sale by owner.
Q: How do I make changes to my listing?
A: You can make multiple changes to your listing be sending us an email.
Q: If I find a buyer, will I still have to pay a commission?
A: no. You maintain the right to sell your home on you own. If you find a buyer, you will not be obligated to pay a commission on the sale.
Q: Are their any other costs?
A: No, your maximum cost is $499 paid upfront plus 3% buyer's commission.
Q: What if I want to change the price of my home?
A: You e-mail us your request price change. We will e-mail you an addendum to the listing agreement to change the price. After we receive the signed addendum, the change will be input into the MLS.
Q: Will my MLS listing look different than other real estate company MLS listings?
A: No. It will look the same as all the other MLS listings.
Q: Can I terminate my agreement early?
A: Yes, you can terminate the MLS listing at anytime.