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MLS FLAT FEE SERVICE
Frequently Asked Questions
The MLS is the best and only way to sell a property. 90% of all properties are sold as a result of the MLS.
The MLS is a tool for realtors to list and sell properties. The listing real estate broker for your state is going to list your property in the MLS for a flat fee. If you do not wish to pay a commission (as a result of a real estate agent bring you a qualified buyer), you cannot get listed in the MLS. The MLS rules require that a commission be listed up front for every property that an agent enters into the MLS.
If a real estate agent brings you a buyer, you must pay a commission at close of escrow. You cannot be listed in the MLS if you did not wish to pay a commission if your property sells thru a real estate agent. The commission must be specified up front on the paperwork that you will complete after making payment. If you sell your own property as a "for sale
- How Much Money
does the Real Estate Listing Broker that lists my house into the MLS
get paid?
- Why would
the listing real estate agent want to list my home in the MLS if they’re
not going to receive a commission when it sells?
CLICK-HERE FOR COST, COVERAGE AREAS & ORDER FORM!
Commission Questions
Lockbox, Sign & Photo Questions
Not all real estate listing brokers offer exactly the same included items. Check the state map for items offered.
You get 1-photo included with your MLS and Realtor.com listing. However, some real estate listing brokers allow more photos in the MLS for FREE or for an additional charge.
You get 1-photo included which appears on Realtor.com. This is the same photo that appears on the MLS. However, some real estate listing brokers allow more photos on Realtor.com for FREE or a small charge.
You may also get a sign or realtors lockbox from the listing real estate agent - Some real estate listing brokers offer a FREE sign, other real estate listing brokers charge a fee for the sign. Real estate listing brokers that offer a lockbox charge for it, which you pay them directly for. The SELLER can purchase a mechanical lockbox from any hardware store (Ace, HomeDepot or Lowes). Flat Fee Listing Service does not include a "for sale sign" or lockbox.
Listing Questions
- Why signup with mlsmagazine.com
- What steps are involved in getting my property listed in the MLS?
- How do I determine the sales price for my home?
- How does information about my house get on the MLS?
- Can I add more information to the MLS later?
- Can I make changes to my listing?
Internet & Website Questions
- What is the difference between internet sites, such as Realtor.com, and the MLS?
- Can I go to a website and see my MLS listing?
- Can I go to a website to print and email color brochures of my listing?
- What internet sites will my listing appear on?
- How long will it take for my MLS listing to appear on the public internet sites?
- Can I ONLY get my House listed on Realtor.com?
Sales Purchase Contract Questions
- Is the Listing Broker involved with the sales contract?
- Is the Listing Broker involved in negotiations?
- How can I get my contract reviewed?
General Questions
- Once my paperwork is received, how long before my home is listed in the MLS?
- How do I pay for my MLS listing?
"The MLS" is the secret to success of real estate sales, directly responsible for about 4 of 5 sales nationwide. About 85% of home buyers use a REALTOR® to help them locate a property. When a possible buyer contacts a Real Estate Agent regarding a home purchase, the Agent will search the MLS for homes matching the buyers' desires, wants and needs. Statistics show that homes listed on the MLS sell faster. Back to Questions
Is this the same Multiple Listing Service (MLS) to which all Realtors® belong? Yes. All participating MLS REALTORS® belong to their regional association of REALTORS®. The Listing Broker that will be assigned to place your property in the proper MLS for your region will be paid from the flat fee that you pay to mlsmagazine.com - There is no additional fee to pay the Listing Broker that is assigned to list your property into the real estate multiple listing service. Back to Questions
The real estate listing broker only gets paid a flat fee for listing your property into the MLS.
Is there a "MLS" which may be used by owners selling themselves, without a REALTOR®? NO. There is no FSBO MLS System. The general public is not allowed to list their own property in the REALTORS® Multiple Listing Service. Only a State Licensed REALTOR® Member may access their regional MLS to list a property for sale, or find homes for buyers. This is the same MLS used by REALTORS® in your area, one you will be listed in, which is accessed by real estate listing brokers in your area.
NOTE: Please be aware in order to get your property listed into your regional Multiple listing Service it has to be listed by a licensed Real Estate Listing Broker that is a member of the MLS. This agent is assigned to you by mlsmagazine.com and gets paid by mlsmagazine.com - There is no additional money you pay to the Listing Broker. A REALTOR® has to be involved in order for your property to be listed into the MLS and REALTOR.com® - Back to Questions
Is the MLS the best way to sell my home? Yes, the vast majority of homes are sold through the MLS due to the large network of REALTORS® working with home buyers. The National Association of REALTORS® (NAR) reports homes listed by REALTORS® result in a higher net price to Sellers compared to "FSBO" home sale transactions. Back to Questions
Will Realtors Show & Sell my home if it's not listed on the MLS? It is not likely. Of course, there are a very few exceptions. REALTORS® operate completely from MLS computer listings. The MLS Listing Agreement specifies the REALTORS® commission and without this agreement REALTORS® will bypass FSBO homes. Of course, you may sell your home without a REALTOR®, but once listed, REALTORS® do not regard you as a FSBO but simply another listing for them to sell. Real Estate real estate listing brokers will generally avoid FSBO properties due to the fact that they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to a Buyer's Agent, the buyer could cut the Agent right out of the deal and negotiate directly with the seller. Back to Questions
Will Realtors® Show and Sell my home even though I paid for a Flat Fee Listing? Yes. Your MLS Flat Fee Listing will look exactly the same as any other listing. There is no way to tell how much you paid to get on the MLS. Regardless of whom you listed with or what you paid, your listing will look no different from any other listing in form and style. The listing broker's name appears on the MLS, not mlsmagazine.com name. Our flat fee listing method gets your property on the same MLS used by your area REALTORS®. Your listing will appear the same as all other mls property listings. Back to Questions
Is it True some real estate listing brokers may not show my home if they know it is a flat fee listing? Absolutely not! That is a misleading and somewhat fraudulent representation made by some Real Estate real estate listing brokers in a clever attempt to dissuade you from doing a flat fee mls listing First of all, when the Agent sees your listing on the MLS computer, there is no way the Agent knows it's a flat fee listing. The Listing Broker's name and contact information shown on your Multiple Listing Service will be your Listing Broker, not mlsmagazine.com. In addition, the listing commission is not disclosed on the MLS! Even if the Buyer's Agent somehow knew you were not paying a high traditional listing commission, that would not effect the showings, since the Agent is not concerned about the commission you are paying the listing broker. After all, the Buyer's Agent ONLY cares about the commission offered to him/her to sell your home, not how much you paid the Listing Broker! Back to Questions
Will Realtors® show and sell my home if I am not listed with their company? Yes. The main purpose of MLS is for REALTORS® to sell each other's listings. Back to Questions
How important is it the listing REALTORS® office be in my neighborhood for my home to sell? It does not matter. It's merely an often-used false marketing method and fabrication to get you thinking it makes a difference so you end-up listing with them. Comparatively few potential buyers reside in your neighborhood. Most buyers come from another part of town, different areas, another city, or out-of-state. Even if a prospective buyer happens to live nearby, why would location of the listing broker make any difference at all? Keep in mind, a buyer who comes via The MLS in all likelihood already has a REALTOR® who is their buyers' Agent. A buyer rarely hires the Listing Broker. If the Buyers' Agent needs to contact the Listing Broker they normally use the phone or fax to submit purchase contract offer . . . in-person contact is never really needed. The listing broker could be located in another city or even out-of-state, it really makes no difference. Back to Questions
Who Will Realtors® call for Showings? You, the Seller. The most common way showings are done, is the listing broker indicates showing instructions on the multiple listing service computer. This will say "Call Owner direct to arrange for a showings" (giving your name and contact phone number) P.S. There are a few areas in the country (Ohio) where broker's phone number is given for showings as the MLS does not permit Owners' contact info. If so, the listing broker will refer the call directly to you, to schedule the showing appointment. REALTORS® customarily call Owner before showing the home. Back to Questions
How long should I expect to be on the market? Your home should sell quickly if priced right, in a good location and shows well. The MLS & REALTOR.com® will draw maximum attention to your home. Back to Questions
How long will my property be listed on the MLS for the flat fee? The MLS flat fee listing is good for 6-months. Most homes are sold within a couple of months of listing or sooner. Many homes listed have sold within a day to a week. Rarely is a renewal of the listing needed. The agent will offer renewal of the listing -- check with agent as to the fee, which you pay him/her direct (some real estate listing brokers renew FREE-this is listed on the website). Back to Questions
Can I cancel my Flat Fee Service at anytime? Yes, you can cancel your listing at any time. Just notify the Listing Broker you wish to cancel your listing. Back to Questions
Is there a benefit to listing with a traditional high-commission broker? NO. Your listing will end up in the same MLS if you were to re-list your property with a more Traditional Real Estate Agent charging you higher commissions. Of course, there are no refunds once your property is listed in your regional Multiple Listing Service (except possibly under the terms of our "REALTOR® Referral" Money-back Guarantee.) You may also apply for the "Money Back Guarantee" by sending mlsmagazine.com an email Back to Questions
Do you offer a money-back guarantee if not satisfied after my home is listed, if I cancel my listing to go with another REALTOR®? If you are not completely satisfied you can qualify for a 100% money-back guarantee under certain conditions. This is based on mlsmagazine.com referring your listing to a new real estate broker, and who is acceptable to both of us. In the event you want to cancel (for any reason), and wish to list with a more traditional broker (of course, prior to getting a sales contract), we agree to refund the money you paid us by rebating the money payable at close-of-escrow as long as all parties agree to a standard REALTOR® Referral Agreement. Click-here to Read more info on the Guarantee Back to Questions
What's included with my listing? The MLS, REALTOR.com® &; and about 50 other real estate internet sites, plus many extras as listed on the website page EXTRAS and website for your state. Back to Questions
Do I have to pay a Commission if house sells because of the MLS?
Yes. Any REALTOR® bringing a ready, willing and able buyer with a satisfactory contract will be due a "selling" commission of your choice. This commission must be determined by Seller when completing the Listing Agreement. This Commission paid to the selling agent is shown on the MLS. Back to Questions
How much commission do I have to pay to the Buyer's Agent? The commission the Seller pays the Buyer's Agent is totally up to the Seller. Real Estate commission fees are not FIXED, fees are negotiable by LAW. REALTORS® cannot demand the Seller pay a certain commission to sell their home on the MLS. REALTORS® that demand the seller pay 3% to buyer's agent can and will have their license revoked. Back to Questions
If I find my own buyer, will I still have to pay a selling commission? No. If you find a buyer for your home with no Agent being the procuring source, there is no commission to pay. Back to Questions
Do I need a lockbox while house is listed on MLS? Owner can decide whether or not to use an optional key-lockbox, which is a metal container for your house key(s) and is normally hung on the front door knob or gate. The MLS Listing will advise Realtor's if they can not reach you by phone, they may use the key lockbox for showings. It provides access to real estate listing brokers when the owner is away, thus assuring full exposure to prospective buyers. Without a lockbox, real estate listing brokers representing buyers will have to set appointments to meet you at the house to view the home. If you do not have a lockbox, you may miss out on some potential buyers who do not have time to wait. Lockboxes are completely removable and controllable by you. Your Listing Broker will indicate your showing instructions on the MLS and contact phone number to call you first for showings. Showings are most always done on an appointment only basis (assuming key lockbox is not used if unable to reach you). It is rare an Agent will knock on the door without first making appointment with the homeowner. If you want a REALTORS® electronic lockbox you can request one from the Listing Broker (not all flat fee listing real estate listing brokers have or use electronic lockboxes, due to the cost and delivery time required for installation and removal from door with special key only real estate real estate listing brokers have.) The Listing Broker will lease one to you for a fee. Back to Questions
I have a For Sale By Owner sign, should I use the Realtor's sign? You can replace your sign with the Realtor's sign if you wish. If you prefer to display your listing broker's sign, many do offer a sign FREE or as an optional service for a fee. After you get listed in the MLS, ask your Real Estate Agent if you can use their for-sale-sign, rather than your "For sale by owner sign." Back to Questions
Can I use my own exterior home photo for the MLS? Yes, it is recommended that you send via email to the listing real estate agent the photo(s) in jpg format. However, it is highly recommended to let the MLS photographer* take a professional photo of your home. Once inputted into the MLS, the photographer is dispatched to take the photo. Photos usually uploaded to the MLS within a few business days. The MLS then transfers the photo to the public internet sites for your area. *subject to some MLS regional restrictions - some MLS have a photographer to take an exterior photo and others do not have a photographer to take a photo. If the MLS does not have a photographer to take 1 photo, the seller can submit a photo via email to the agent. Back to Questions
Can I have additional photos added to the MLS or get a Virtual Tour? Yes. After you get listed on the MLS ask your Real Estate Agent for that option. Many of the referral Real Estate real estate listing brokers usually offer extra photos for a small fee (some even do for FREE) and virtual tours from $89 to $199 which is a reasonable additional fee. The cost is very minor compared to the benefit of saving thousands of dollars in real estate commission. However, additional photos and virtual tours are not necessary as the real estate multiple listing service in all likelihood will sell your home, with or without paying for extra cost services. Back to Questions
Do you offer FREE forms and contracts? Yes, we currently have forms available on our website. We are adding more forms for your convenience. When you list your home with us, we will email you all the forms needed if you sell by owner. If your home sells thru the MLS, the buyer's agent will prepare the purchase contract.Back to Questions
Why signup with mlsmagazine.com
- We only work with licensed and experienced Real Estate Brokers
- We have the largest Realtor Network in America
- Your property will be listed quickly
- We offer more exposure than any other company
- We give you more for your money
- We are open Weekends
- There are no hidden fees or charges
- FREE forms, plus reports, etc
- No other Flat Fee MLS company offers as much exposure and coverage!
What steps are involved in getting my property listed in the MLS?
- Place your flat fee listing order
- The Flat Fee Listing Real Estate Agent that is a member of the regional MLS for your area is contacted and given your contact information
- The Flat Fee Listing Broker will typically list your property within 24-48 hrs . . . after getting your completed forms back, such as the Listing Contract, MLS Data Sheet, etc. However some real estate listing brokers do not work weekends, so you will have to wait until Monday to be listed.
- Your home is listed on the MLS, REALTOR com® & other websites as soon as you return paperwork to the Listing Broker
How do I determine the sales price for my home? You can Click on link below to get this information FREE. We have heard from many sellers that this service works extremely well -- Zillow.com
How does information about my house get on the MLS? The Listing Broker will have you complete the MLS Data Sheet. This Data Sheet will require you to answer all questions listed, which will supply Buyers with the type of information they require to see if your home meets their buying criteria. The MLS Data Sheet fields cannot be customized. You will however be able to write a description highlighting your home's special features. The information on the Data Sheet also goes to REALTOR.com®, plus all the public internet sites for your area. Back to Questions
Can I add more information to the MLS later? Yes. You can add information to your listing, such as room dimensions or description by emailing this information to the Listing Broker. Back to Questions
Can I make changes to my MLS listing? Yes you can make changes. Contact the Listing Broker by email with the changes. Back to Questions
What is the difference between public websites, such as REALTOR.com®, and the MLS? Public websites like REALTOR.com® receive listings directly from the MLS itself. Unlike the MLS which is updated instantly, the public internet sites are typically updated every 1-2 business days. Because of this, REALTORS® only use the MLS system, which is a closed system linked to their offices. Back to Questions
Can I go to a website and see my MLS listing? Yes, the MLS is on the internet and buyers can go and view all the listings. Plus in order to get listed on REALTOR.com® you have to first be listed in the MLS. Back to Questions
Can I go to a website to print and email color brochures of my listing? Yes. REALTOR.com® offers the ability to print and/or email color brochures of your listing to hand out to potential buyers. Back to Questions
What Internet sites will my listing appear on? According to Realtor.com your listing will appear on 50 real estate internet sites, such as; REALTOR.com®, MSNhomes.com, Homes.com, Homestore.com, Homeadvisor.com, Yahoo.com and others. Plus licensed REALTORS® can display all of the MLS listings directly on their own private website. Back to Questions
How long will it take for my MLS listing to appear on the public internet sites? The MLS sends listing information at different times to the different public internet sites. Once your listing is entered into the MLS system, it appears instantly to REALTORS® and their buyers. Back to Questions
Can I ONLY get my House listed on REALTOR.com®? No. You have to get listed into the MLS before your listing can appear on REALTOR.com® -- Back to Questions
Is the Real Estate Listing Broker involved with the sales contract? Typically No -To save on commission, you will handle many details of the sale yourself. The Listing Broker is mainly getting paid to list your property on the MLS, as you requested. If the Seller requests assistance with the purchase contract, counter-offers, placing contract in escrow, contingency issues, closing & settlement matters - the Listing Broker offers extra services for a reasonable additional fee. If you want or need additional assistance involving your transaction (though you should be able to handle things yourself) ask your Agent about other available services. Most of our associates offer additional optional services. Back to Questions
Is the Listing Broker involved in negotiations? No, not unless you specifically request the Listing Broker's consultation. You will handle all showings, inquiries, and sales contract presentations on your own. Back to Questions
How can I get my contract reviewed? The Listing Broker is the most knowledgeable and qualified person to review the contract for you. Back to Questions
Once my paperwork is received, how long before my home is listed in the MLS? Depending on the time of day, listings are usually inputted into the MLS system the same business day everything is received. Back to Questions
How do I pay for my MLS listing?
Payment is made in advance with:
We also accept PayPal and Google payments. We take credit
card orders over the phone. Back to Questions
Is REALTOR.COM and THE-MLS SYSTEM THE SAME? No, they are separate and distinct services with different websites and usage. Realtor.com is run by The National Association of Realtors® and picks up all the Nationwide MLS Listings from the hundreds of Multiple Listing Services around the Nation and puts the property information in their website.
Who uses Realtor.com? Do Realtors® access it? Anyone can access and use it but NO, it's rarely used by Real Estate real estate listing brokers. It's designed for and mostly used by private parties who want to search for appropriate properties thruout the nation.
Back to Questions
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