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Frequently Asked Questions
What is Flat Fee MLS?
Flat fee MLS is a term used to describe a practice in which realtors place pertinent information about a property for sale into the database of the local Multiple Listing Service (MLS) for flat fee as opposed to a commission based on the contract selling price. All the benefits associated with an MLS listing will be realized at a fraction of the cost. No additional listing fees will be required to set up your listing.
What is the Multiple Listing Service?
How does Brokerless MLS work?
How do Agents/Buyers contact me?
There are two types of people who will see your listing — realtors and non-realtors (the general public.)
Only realtors have direct access to the MLS. Realtors will see your contact information on MLS and will schedule showings directly with you according to the showing instructions. You should have seen what this looks like in the PDF proof/print out we sent you.
The public does not have direct access to the MLS. They will see your property through one of the virtually hundreds of websites that PULL data from the MLS (i.e. Realtor.com, Trulia, Zillow, etc). The MLS prohibits us from displaying seller contact information in the public remarks section. The MLS does not own or control 3rd party websites. Realtor.com and Zillow, for example, are owned and operated independently, and we have no control over how they format listings. Our policy is, and has always been, If a buyer lead comes into the office from from any source, we forward that lead to you.
Can I upgrade after signing up?
Yes, you can upgrade at any time after signing up. You will need to contact our sales office and they will walk you though any upgrades.
Will I have direct access to the MLS?
What savings will I realize using a flat fee home selling discount broker?
Paying a flat fee for an MLS listing means more equity in your pocket! All the advantages associated with an MLS listing will be available to you at a fraction of the cost. As a result, there will be no additional listing fees owed specifically to Brokerless. Typically, those fees run from 2.5% to 3.5% of the selling price, and are normally paid to the listing broker at closing. Fees vary by State, County, and Broker. Consumers who choose a limited service option can realize savings of up to thousands of dollars.
Link: Brokerage Options and Potential Savings on Homes Sold.
What type of listing agreement will I be required to sign?
Will I need to offer compensation to a buyer's agent?
Can my property be listed on the MLS for longer than my listing agreement calls for?
Yes. However, listing agreements must have a definite expiration date. Therefore, additional paperwork will be required to extend the original period contemplated in the agreement.
Who will be in control of my Flat Fee MLS listing?
How soon will updates appear on realtor.com?
MLS Listings are updated within 24 hours of any changes being made and are available for public viewing on www.realtor.com and your local MLS 24/7.
How many people will get to view my property listing?
Every month millions of unique visitors searching Realtor.com will be able to view your listing. Realtor.com sends out numerous feeds to other major internet sites that display MLS listings as well.