Flat Rate MLS Questions
Free Extras
The
Power of the Multiple Listing Service (MLS)
and how the MLS works!
The "MLS" is how real estate is bought and sold. Since the "MLS" has a large impact on the sale of your home, I will explain how it works.
It is through the "MLS" that most of the residential real estate deals are brought together. As realty professionals, Realtors have all agreed to exchange information about properties for sale in order to help sell homes for the best price possible in the least amount of time. Realtors pay an annual fee to the Realtors® Association for the right to publish information about your home in the MLS computer system.
The local Realtors® Association is a part of the National Association of Realtors® and is an organized entity designed to help real estate listing brokers from many different companies cooperate with each other, establish guidelines for service and ethical issues, and strive to make the real estate community more professional. It also oversees the "MLS" computer system - the source real estate listing brokers turn to first to find properties for their buyers.
The mls flat rate listing service is the only way to sell your real estate, whether it is a home, condo, land or multi units.
The Multiple Listing Service (MLS) is the key to Home-Sales Success. The MLS lists the vast majority of real estate listings which are listed "for sale" by real estate brokers and their real estate listing agents. All types of real estate property is listed in the real estate multiple listing service; houses, town homes, condominiums, commercial property, lots, acreage and even rental properties. There are hundreds of local Multiple Listing Services located thruout the nation. Real Estate Associations in all 50 US states run their own MLS Systems. Statistics show that homes listed on the MLS sell faster.
The most important work Realtors do to market your home to other Realtors® on the "MLS" is to offer detailed listing information and a photo of your home.
The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other effective way to sell your property and be successful.
Why the MLS Works
The Realtor® MLS system will help you to sell your home faster and for top dollar!
By getting your home listed in the MLS, the vast majority of REALTORS® will become aware that your property is available as well as its price and features. The MLS is the key to a successful sale and enables you to have maximum exposure. It is simply the greatest marketing tool ever invented for selling your home.
Important information about your property is listed on the MLS. This information includes general data such as square footage and number of rooms, to such details as whether you have central air conditioning or hard wood flooring. There is also a photo taken and a description of what makes your house "special."
Real Estate listing brokers search the database for homes that fit the price range and needs of their clients. They pay special attention to homes that have been recently placed on the market, which is one reason you get a lot of attention when your house is first listed in the MLS.
The main point about having your house listed in the MLS is that you expand your sales force by the number of area MLS members. Instead of having just one agent working for you, now you may have hundreds or even thousands, depending on the your area.
The Power of the Multiple Listing Service (MLS)
The "MLS" really is how real estate is bought and sold. Since the "MLS" does have a large impact on the sale of your home, I will explain how it works.
The local Realtors® Association is a part of the National Association of Realtors® and is an organized entity designed to help real estate real estate listing brokers from many different companies cooperate with each other, establish guidelines for service and ethical issues, and strive to make the real estate community more professional. It also oversees the "MLS" computer system - the source real estate listing brokers turn to first to find properties for their buyers.
It is through the "MLS" that most of the residential real estate deals are brought together. As realty professionals, Realtors have all agreed to exchange information about properties for sale in order to help sell homes for the best price possible in the least amount of time. Realtors pay an annual fee to the Realtors® Association for the right to publish information about your home in the computer system and agree to pay a commission to any agent that has a buyer for your home.
The most important work Realtors do to market your home to other Realtors® on the "MLS" is to offer detailed listing information and a photo of your home.
The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other effective way to sell your property and be successful.
How does the flat rate listing service work?
As a for-sale-by-owner you now have the option of getting your property (home, condo, townhouse, land or rental) listed in the Multiple Listing Service (MLS) by a licensed real estate broker for a small flat fee.
Please note that the only way to get your property listed in the MLS is by a licensed real estate broker. You cannot list a property in the MLS yourself.
As a for-sale-by-owner you have the right to sell your own home. Even though your home is listed in the MLS you pay no commission if you sell your own home without the aide of a realtor.
If your home sells thru a real estate agent, you only pay that agent a commission upon successfully closing of your property. Remember you only pay a commission to the agent that brings your buyer. The agent that lists the property does it for the small flat rate fee as advertised here.
You are getting the same benefit as listing with a full service realtor at a traditional 6% commission. However, you are only paying half that commission, plus a flat rate fee up front to get listed in the MLS.
When a realtor calls you for a showing and brings a potential buyer, you will know that buyer has already been pre-qualified for a mortgage loan. Realtors do not show homes to buyers until they show proof they have been pre-qualified for a mortgage loan.
Plus the potential fear factor of letting strangers into your home to show your own property as a "for-sale-by-owner" is diminished. You have peace of mind when a realtor calls you for a showing and has identification to show he's a realtor and you also know the realtor found your property in the MLS.
Plus your home will also appear on Realtor.com. Your home will also be seen on many other Internet real estate websites. Your mls listing will appear on major public internet sites such as Realtor.com MSN.com, AOL Home and Real Estate, Move.com, Wall Street Journal.com, Netscape Home and Real Estate, Compuserve Home & Real Estate, Digital City, iWon Real Estate, Excite Real Estate, Juno House & Home, NetZero House & Home. Plus also appear on other local and internet websites as listed below:
You only pay a commission to any agent that brings you a buyer for your home at closing. Your savings add up to $1,000s.
- For example a $500,000 - listed with a traditional 6% commission agent costs you $30,000 at closing
- With the flat rate listing service method, a $500,000 - listed with a flat rate fee broker will cost you 1/2 of that or $15,000 at closing, plus the up front flat rate fee.
"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.
The Realtor® MLS system will help you to sell your home faster and for top dollar!
By listing your home in the MLS the vast majority of REALTORS® will become aware that your property is available as well as its price and features. The MLS is the key to a successful sale and enables you to have maximum exposure. It is simply the greatest marketing tool ever invented for selling your home.
Important information about your property is listed on the MLS. This information includes general data such as square footage and number of rooms, to such details as whether you have central air conditioning or hard wood flooring. There is also a photo taken and a description of what makes your house "special."
Real Estate listing brokers search the database for homes that fit the price range and needs of their clients. They pay special attention to homes that have been recently placed on the market, which is one reason you get a lot of attention when your house is first listed.
The main point about having your house listed in the MLS is that you expand your sales force by the number of area MLS members. Instead of having just one agent working for you, now you may have hundreds or even thousands, depending on the your area.
Please note, there are a number of MLS services thruout the nation. FlateRateListing is not the MLS or a Multiple Listing Service. FlatRateListing.com is an MLS referral service, who since the year 2002 has been referring nationwide home-sellers to a state regulated and licensed real estate broker who is a member of the appropriate MLS. We have business arrangements with Realtors® who have agreed to work for a flat-fee and not charge an MLS listing commission, which home-equity savings at closing is quite dramatic (saves about 50% in commissions - which is 1000s of dollars).
Here is an real-time based example of the amazing savings you can achieve by paying our small up front service charge. On a property which sells for say $295,000 the total commission due the broker at closing based on a typical 6% Realtor® commission would be $17,700. with $8,850 of that consisting of 1/2 the total commission which would normally be due the traditional broker at closing who listed the home on the MLS (and another $8,850 due the buyers broker (assuming a normal 50-50 commission split).
Therefore, getting back to our example, this new no listing commission business model means instead of paying $8,850 for the listing in the-MLS (payable at close of escrow) you only pay a low up-front flat-fee of $297 (or less). By using that $295,000 sale price example (and taking into consideration the small flat-fee cost) you would end-up saving a very significant $8,553 by listing your property via our nationwide MLS flat-fee referral service vs a traditional MLS listing.
