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 $399.95. 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?
Typically, a lawyer, title company, or buyer's agent brokerage holds the buyer's escrow deposit on a flat fee listing. The buyer and seller receive a letter stating the amount being held and the date when the funds were received.
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 email@example.com at any time.