MLS stands for Multiple Listing Service. Approximately 90 percent of all homes for sale are listed on one of more than 1,000 local MLSs across the country. The MLS is “the real estate market”, and it is a known fact that homes listed in MLS will sell faster and for more money than non-listed homes. Only a licensed real estate agent who belongs to your local MLS (also known as a agent) can list your property. This means that even though you are selling your home yourself, if you want to get your house listed in the MLS, you must find a Agent who will load your listing into the MLS database. Flat Fee MLS can list your home anywhere in the USA because we have hundreds of brokers who belong to all the various local MLSs.
How does my home get listed on Realtor.com®?
All the listings from all the over 1,000 MLSs nationwide are aggregated into one massive database and appear on Realtor.com®, as well as thousands of other websites. There are several hundred national websites, with Realtor.com® being the biggest in terms of traffic. Your home will be listed on hundreds of local websites as well, including individual agent websites that display MLS listings.
How is listing with Flat Fee MLS better than listing with a 6% real estate agent?
The typical Agent charges a 6% real estate commission. 3% of that goes to the listing agent, and the other 3% goes to the buyer’s agent. With Flat Fee MLS, you only pay the flat fee as low as $345 to be listed and you offer 2% to 3% to a buyer’s agent.
Do I have to pay a commission to the listing agent?
No. The fee you pay to Flat Fee MLS is all you have to pay.
Do I have to offer a commission to the buyer’s agent?
The whole purpose of being listed on MLS is to get national exposure and to get agents to bring their buyers to your home. A commission must be offered in MLS, and we recommend you offer the same as other listings in your price range and market are offering, which is normally 2% to 3%. If you do not want to offer any commission, but still want to be listed on Realtor.com®, this can be accomplished by listing your property in a way that local Agents will not find your home in their local MLS database. (Call us before you make your payment if this is what you want.)
Can I negotiate the commission?
Absolutely, but the person you would “negotiate” with is your listing agent. You must decide on the commission you are willing to pay a buyer’s agent before your home is listed, because the commission offered will be stated in your MLS listing. You cannot change your mind on the commission you want to pay after an agent brings you a buyer or an offer.
How can Flat Fee MLS list homes so cheap?
We work on a volume basis, and so do our brokers. The nature of our business doesn’t require us to come to your home, which saves you money. Various tasks that 6% Agents do are either unnecessary or can easily be done by you. Lastly, the act of actually entering a listing doesn’t cost thousands of dollars to accomplish. All these factors add up to a significant savings for you. We “cut out all the fat” and give you the most valuable thing that a Agent can provide – a listing in MLS.
Will Agents bring buyers if my home is not listed in MLS?
Most likely not. Some agents will go so far as to drive around the block so their buyer doesn’t see a for sale by owner sign. When a home is listed in MLS, the listing Agent in essence guarantees the commission will be paid. This guarantee is contractual through the real estate board that runs the local MLS, and all Agents have to abide by that. Real Estate Agents working with buyers generally avoid Flat Fee MLS (FSBOs) because it is too easy for them to get cut out of the deal and make nothing.
Will Agents bring buyers if my home is listed with Flat Fee MLS?
Of course. Your Flat Fee MLS MLS Listing will look the same as any listing listed by a 6 percent agent. There is no way to tell how much you paid Flat Fee MLS to get on the MLS. And all our brokers operate under the name of their brokerage, not Flat Fee MLS. That means that that no local broker will ever know that you ever paid Flat Fee MLS to get in MLS.
Is it true that some agents will avoid my home if they know it listed by a For Sale By Owner Home broker?
No. First of all, they wouldn’t know you are listed with a Flat Fee MLS broker. And even if they did, their motivation is to make a commission. If you are offering a commission typical in your area, they will bring their buyers. The allegation that agents will not show your home if you listed for anything less than a 6% commission is a fabrication by 6% agents who want to get your listing but have nothing to offer that’s better than what you get with Flat Fee MLS.
Will Agents show my property if it is not listed with their company?
Of course. Individual Agents get the same commission regardless what company has the listing.
Is it better to have a listing broker who lives nearby?
It doesn’t matter whatsoever. Sometimes our brokers will live a few miles away, and other times hundreds of miles away. What is important is that your property is listed in the local MLS that all the local Agents use. As long as the listing broker is licensed in your state and belongs to your local MLS, it wouldn’t matter if he lived in Siberia. Today, it’s not unusual for a person living in Ohio to close a transaction with their lender from California on a home in Florida that’s listed with a broker living in Texas. Thanks to the internet, email, and fax machines! The days of driving back and forth to get signatures on documents are long gone.
How will my Flat Fee MLS listing broker show my home if he doesn’t live in the area?
Often your Flat Fee MLS broker DOES live in the area, but it doesn’t make any difference. The whole point of listing with Flat Fee MLS is to AVOID commissions. If a buyer is interested in seeing your home, that buyer will be referred to you so YOU can show the home to the buyer and not have to pay any commission. However, if you are NOT interested in saving the 3% buyer’s agent commission, let us or your Flat Fee MLS listing broker know, and we will be sure to get your house shown to every buyer by a local agent.
How will Agents schedule showings?
It is up to you. We recommend conducting showings in whatever manner is customary in your area. It could be with a combo keybox or an electronic keybox; it could be by appointment or simply “call and go”; it could be handled by an appointment service or by you. Your Flat Fee MLS broker who is handling your listing can advise you of the best way to schedule showings in your area.
How long should I expect it will take my home to sell?
If your home is not sold in less than 60 to 90 days, you are doing something wrong. Some sellers are concerned that it will take longer and they need a listing that extends beyond 6 months. If you follow the advice on this website and the advice of your listing broker, it is extremely unlikely that your home will not be sold in less than 6 months. However, many Flat Fee MLS brokers offer listing extensions for little or no extra cost. See your state information for details: Map The most common problem causing homes not to sell is being overpriced. See Pricing Your Home
How long will my home be listed in MLS?
The Flat Fee MLS MLS listing is good for 6-months. Some brokers offer longer listing terms for little or no extra cost. See the services offered in your state for details: Map
Can I cancel my Listing any time?
Yes. There is no additional charge to cancel early; however, there is no refund of your fees paid after your home is listed.
What's included with my listing?
See the website page for your state: Map.
If I find a buyer, do I still owe a commission?
No. All you pay is the listing fee. That’s why so many sign up for a Flat Fee MLS MLS listing.
Can I use my For Sale By Owner sign?
Yes, but it would be better to use a professional Agent sign. The choice it yours.
Are forms and contracts included?
Yes. Your listing agent can provide all the forms you will need.
Can you help determine the right sales price for my home?
Many Flat Fee MLS brokers include a CMA (Comparative Market Analysis) with the listing, and this will be stated on the services included in your state: Map. There are several other options available as well at Pricing Your Home
How do I get the information about my home on MLS?
Your Flat Fee MLS broker will send you the forms you need to complete by email after you sign up for your listing. Ones you complete the forms and send them back to the broker, the broker will enter your listing in MLS.
How do I upload my photos to MLS?
You can email them to your Flat Fee MLS broker directly, or send them via our Photo Upload, which allows you to upload and transmit your photos to any email address you specify.
Can I change the price or make other changes to my listing?
Yes. Contact your Flat Fee MLS broker listing broker to make any changes.
How long does it take for my listing to appear on the public websites?
It depends on the update cycle of how often the website downloads updates from each MLS. It can take up to 7 days after the listing is entered in MLS to appear on public websites like Realtor.com®. Larger MLSs typically have more frequent updates and normally it takes 2-3 days.
Can I get my Home listed on Realtor.com® without being in MLS?
In some cases, yes. Please call us to discuss this option.
Once I submit my paperwork, how long before my listing is in MLS?
We strive for 24 hour turnarounds, excluding Sundays and holidays. Depending on the time of day, listings are often entered in MLS the same business day your information is received.