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What is the Multiple Listing Service (“MLS”)?

The MLS is an extensive database that advertises residential and commercial properties for sale or lease by real estate professionals. All types of real estate are listed in the MLS, such as single-family homes, condominiums, cooperatives, commercial property, and vacant land. Once your property is listed on your state's MLS, it will be automatically posted to several national real estate websites, such as Realtor.com®. This is why the MLS is one of the greatest marketing forums available to advertise real estate; it offers unsurpassed exposure so your property sells fast!

This is the same MLS that other full-service real estate professionals charge a commission to list your home. Listing commissions average around 3% of the sales price of your home. Why would you pay a listing commission when you can save thousands of dollars by paying one low flat fee!

 

What are my responsibilities once my listing is on the MLS?

Our broker name and contact information will appear on your MLS listing as the listing broker, however, we will list you as the contact person for scheduling showings, open houses, negotiations, etc. If a real estate agent brings you a buyer, and you accept an offer from them, you will be required to pay the buyer’s real estate agent a commission (that you determine at the time you list your property). All commissions are negotiable, but the average is around 3%. If you sell your home to a buyer who is not represented by a real estate professional, you will not have to pay any commission at closing; you only pay our low flat fee!

 

Will full-service Realtors not bring their clients to a flat fee listed property because they are against flat fee listings?

We have not seen anything like that. If full-service Realtors engaged in that kind of activity, they would not only be breaching their fiduciary duty to their client, they would also be in violation of antitrust laws.



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