FAQs – Flat Fee MLS Listing Florida

Frequently Asked Questions

Below are answers to some of the most commonly asked questions we receive. If you still have questions after reading through these, please do not hesitate to Contact Us at any time. We will get back to you promptly with answers.

What is the MLS

The MLS stands for Multiple Listing Service, and realtors use it to sell and find buying real estate opportunities for their clients. Every county in the United States has a local MLS for realtors. Websites like Propertiesmiami, Zillow, Trulia, and Redfin have access to MLS listings by using a real estate agent’s license.

What is a flat fee mls listing?

A flat fee MLS listing is a listing posted on the MLS by a real estate broker, who will receive a fixed fee as compensation for listing the property.

What is a flat fee realtor?

A flat fee realtor is a licensed real estate agent that provides flat fee MLS listing services for homeowners to post their buying and selling opportunities on the MLS. A flat fee realtor doesn’t ensure that a property successfully sells or rents but ensures that a property is properly listed on the multiple listing service for a determined period.

What is a flat fee broker?

A flat fee broker is a licensed real estate broker with flat-fee programs for sellers and landlords to list their property on the MLS by only paying a fixed rate. A flat fee broker commonly has a real estate brokerage with multiple flat-fee realtors working under their management.

Cost to List on the MLS

The standard price to post a flat-fee rental or sale listing on the MLS is as low as $69. Depending on the flat fee company and features, the price may vary.

How to post on the MLS without a realtor

To post a listing on the MLS, you must be a licensed real estate agent or broker and pay the annual MLS membership. Homeowners can’t publish a listing on the MLS unless they have a real estate license.

Who prepares the purchase contract on a flat fee listing?

The buyer, the buyer’s agent, or the buyer’s lawyer will prepare the purchase contract on a flat fee listing. We recommend you share the purchase contract with a real estate lawyer or an experienced realtor to ensure that no mistakes are made. A flat fee company won’t review the purchase contract unless it’s included as a feature on the flat fee plan you purchased.

Who holds the escrow deposit on a flat fee listing?

The best way to avoid paying any commission fees is to sell to an unrepresented buyer. However, know that nearly 87% of buyers work with a realtor. If you decide not to offer a buyer's agent commission, you may severely restrict your pool of buyers.

How do real estate commissions work?

Typically, two real estate agents are involved in a real estate transaction. The seller’s agent and the buyer’s agent. With a flat fee mls service, you avoid paying the seller’s agent, which is a commission between 2% to 3% of the total purchase price. If a buyer contacts you directly without a real estate agent, you don’t pay any real estate commission in the transaction.

Is the flat fee MLS process online?

To post a flat fee mls listing, you need to use our online platform. If you encounter any problems with the flat fee mls online platform, you may contact us at any time.

Can I cancel my listing at any time?

Yes.

Can I still sell my home “By Owner” while it is listed on the MLS?

Yes! Although we are your listing agent, if you find a buyer on your own, you pay absolutely no buyer’s agent commission.

What about a lock box?

There are several excellent lockboxes on the market and the cost is usually around $25.00.

Is this the same MLS other agents use?

Yes! Your listing will be added to the local MLS and look the same as all the other listings.

How long will my listing be on MLS?

That’s up to you. Typically, MLS listings are posted for 6 months to a year, but you can choose or change the end date. Also, there is no cancellation fee.

Will my home really get exposure on the Internet?

Yes! Your home will appear on REALTOR.com, Zillow, Trulia, Homes.com, RealEstate.com, AOL Real Estate, local real estate brokerage websites that display MLS listings, and all of the major brokerages that feed directly from MLS.

What if I have questions during the listing period or want to change some information in the listing?

If you want to make a change to your listing including price, description, etc., send us your request in writing via email. The listing will be updated within 24 hours. You may request as many changes as you wish.

How do I upload photos for my listing?

Please email photos to [email protected] as attachments. For best results check setting that photos are being taken in Landscape Format- at least 1024W x 768H pixels in size. JPEG only. I cannot copy or use photos on Zillow, Craigslist ECT. They are in the wrong format. I highly recommend using a professional photographer in your area. They are relatively inexpensive. Check on the internet.

How long will my listing be on MLS?

Our MLS listings are posted for 12 months. There is no renewal fee during this time. However you can cancel the listing at any time. There is no cancellation fee.

Does List with Flat Fee charge the buyer’s agent a fee?

If a Buyer’s agent produces an acceptable offer, they will pay me a small Listing management fee when the sale is closed. For example, a buyer’s agent fee would be $350 if the property sold for $150,000. It is not an additional fee owed by the seller. If there is no buyer’s agent, there is no buyer’s agent fee due.

Can I use any Title/Closing Agent or attorney I want to close the transaction?

Yes

What are the restrictions for listing my property in the MLS and Realtor.com

The MLS and Realtor.com will not allow your phone number or email in the public portion of the MLS Listing. However you are listed in the private remarks in 3 locations as the person to call for all showings. If someone contacts me, I refer them to you. There is no benefit to me (commission) to work with the public or with another agent. I send everybody to you.