What is the Multiple Listing Service?
REALTORS® have spent millions of dollars to develop Multiple Listing Services (MLS) and other real estate technologies that make the transaction more efficient. The MLS is a tool to help listing brokers find cooperative brokers working with buyers to help sell their clients’ homes. MLSs are private databases that are created, maintained and paid for by real estate professionals to help their clients buy and sell property. Many MLSs, as a service to their members, also provide listing information to third-party aggregators such as realtor®.com and others through syndication or other similar type agreements, unless the broker withholds consent. Data that is not publicly accessible includes information that would endanger sellers’ privacy or safety, such as seller contact information and times the home is vacant for showings.
What do you mean by syndicating to third party sites?
Syndication commonly refers to an agreement between a broker and a third-party to advertise the broker’s listings on non-MLS websites. The syndication agreement’s scope determines how the broker’s listings will be displayed on the Internet and where the listings will be displayed by the third-party.
What is flat fee?
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.
Why would I want my property listed in the MLS?
Listing a home on the MLS notifies all local agents that your home is for sale. Over 80% of buyers are represented by agents – you must reach them to get the most offers. In other words, the best way to reach four out of five possible buyers is by listing on the MLS. The truth is most sellers’ agents don’t go looking for buyers; they simply list a house on the local MLS and then talk to the buyers’ agents who find them there. You can do the same thing and not owe a sellers’ agent 3% of your sale price.
Can I personally list my property on the MLS without a REALTOR®?
No, only a licensed REALTOR® who is member NAR (National Association of Realtors) and the local MLS board can list on the MLS. There is no other way.
Who handles the paperwork?
The buyer’s agent and title company do most of the paperwork, but we are here to assist.
Who will be in control of my Flat Fee MLS listing?
You will be in control all showings, buyer inquiries and negotiations.
Why doesn’t everyone list their property with a flat fee?
Many sellers do use this option. However, some have never heard of listing for a flat fee and some feel there is some catch or it is too good to be true. The more research you do, you will see this is the best way to sell a property.
How Long does it take to get listed?
We normally have you listed within 1-2 business days after we receive the paperwork & photos.
Do I have to offer a commission to a buyers agent?
We’ll strongly recommend you offer a buyer’s agent commission as it will help sell your home. Premier Flat Fee has found that you can expect 4x as many offers when working with buyer agents and their clients. More offers lead to higher selling prices and more money in your pocket, even after paying the buyer commission.
Will buyer’s agents be reluctant to show my property listed like this?
No, as your listing looks just like all other listings on the MLS. You are listed the exact same way as all other listings. How much money you pay us to list your property is not posted on the MLS and agents are not concerned with how much you paid us, they are only concerned with how much money they will make.
How quickly can my listing go live?
Your home listing can often go live the same day you sign up, so long as we have everything that is needed. If you need time before your listing goes live, we can prepare everything in advance so that when you’re ready, we can publish in minutes.
Does the premier real estate agents come to my house?
No. An in-person agent isn’t needed to sell your home. Every agent uses the same data to determine things like how to price and market your home. And, studies show that home sellers get more for their home when they show relative to an agent showing it.
Can I cancel my listing at any time?
Yes, you may cancel your listing at any time.
How do buyer agents know how much commission we are offering?
It is posted on the MLS for agents to see.
How will I get offers?
Agents will either deliver a copy to you or email us a copy and we will forward to you.
How do potential client contact me?
we put your contact info on the MLS for agents to call you if they have questions. Should buyers call us or email us, we give them your contact information.