| • |
What is the MLS?
The Multiple Listing Service (MLS) is a computerized database of homes currently for sale by Realtors® in your area. It is a tool that is only available to subscribing Realtors ®.
|
| |
|
| • |
What is a Flat Fee MLS Listing?
In a traditional real estate brokerage agreement, the real estate broker wants you to sign a contract that pays them a commission of approximately 6% of your home’s selling price. Less than 5% of all listings are actually sold by the Listing Agent. Typically the listing agent will put your property in the MLS, sit back and wait for the calls to come in. Cooperating Realtors ® see the listing in the database and call the Listing Agent to set up a showing. For this primary function, you will pay the Listing Broker approximately 3%. You also agree to pay the Cooperating Broker 3%, thus making up the 6% commission. The Flat Fee MLS Service eliminates the Listing Broker’s 3% commission and replaces it with a flat fee, but you must still compensate the Cooperating Broker. Your contact information will be placed directly in the MLS and Realtors ® will contact you directly for showings and offers.
|
| |
|
| • |
Why do I need to be on the MLS?
Most buyers today still enlist the help of a Realtor ® when looking for a home. The MLS, in most cases, is the only tool a Realtor ® uses when locating a property for buyers. Putting your property on the MLS greatly increases your exposure by notifying all Realtors ® in your area that your home is for sale. With the MLS working for you, you have just hired the largest targeted sales force in your community to help sell your home.
|
| |
|
| • |
What will I pay for this service?
In addition to the flat fee that you pay to FloridaMLSconnnect.com, you must offer a “cooperating broker” a commission for presenting you with a buyer who ultimately closes on your home. The typical commission for this service is 2-3%. In cases where you sell your home without the help of a Realtor, then you pay no commission.
|
| |
|
| • |
What is the time frame for my listing to get entered on the MLS?
All paperwork including the MLS Listing Agreement, Input Sheets and the Important Notice Sheet must be completed in-full, signed and returned to FloridaMLSconnect.com. Upon receipt of “fully executed” paperwork your listing will be entered into the MLS within 1-2 business days.
|
| |
|
| • |
Can I sell my home on my own after I list with you?
Absolutely. The agreement you sign with us is an Exclusive Agency Agreement which allows you to sell your home on your own without paying a commission. This is in contrast to a typical listing agent agreement called an Exclusive Right to Sell Agreement, which would require you to pay the listing broker a full commission even if you sell the home on your own.
|
| |
|
| • |
How does Realtor.com work?
You will have a listing on Realtor.com, the largest Real Estate Website in the country with over 6,600,000 visitors per month. Realtor.com is a website designed to be viewed by the general public and is not a “for sale by owner” service. Realtor.com – labeled the “Official Website of the National Association of Realtors ®”– is a separate entity and is not the MLS. Your Realtor.com listing does not automatically become active on the Internet simultaneous to your MLS listing. Instead, Realtor.com does a sweep of your local MLS approximately every 72 hours and pulls the data onto Realtor.com directly from the MLS. Realtor.com pulls the information it wants onto its site which may not include everything entered in your MLS listings. Your Realtor.com listing typically becomes active within 1-3 business days of your MLS listing becoming active.
|
| |
|
| • |
How does the general public viewing your Realtor.com listing reach you?
The name and phone number of your MLS listing agent, in this case FloridaMLSconnect.com, will be noted on your Realtor.com listing. Interested buyers for your property will contact us directly by phone or email. Upon receipt of an inquiry, FloridaMLSconnect.com will direct all parties to call you directly. We will also pass the contact information along to the seller via telephone or email. If you sell your home in this manner, you pay no commission!
|
| |
|
| • |
Why doesn’t Realtor.com show the seller’s phone number?
Because Realtor.com is sponsored and paid for by the National Association of Realtors (NAR) with the sole purpose of generating commissions for members, as you can imagine they have no interest in promoting homes “for sale by owner.” Therefore, it is against the rules of Realtor.com to include contact information for any seller, so only brokers’ information is displayed. As noted, general public inquiries will be provided with your contact information and be instructed to contact you directly.
|
| |
|
| • |
How important are photos on my Realtor.com and MLS listing?
Extremely important. Our basic package includes one photo each on the MLS and Realtor.com. In the case of marketing your home, a picture definitely is worth a thousand words. Many statistics exist, but the most recent from Realtor.com show that homes with multiple photos are viewed on average 299% more often – a lot of extra hits. We encourage all of our clients to put on as many photos as they can.
|
| |
|
| • |
What is a SHOWCASE listing?
A SHOWCASE listing is an option on Realtor.com that makes your home stand out from the rest by highlighting the border plus other “bells and whistles.” When you choose a SHOWCASE listing, we can also add more text, customize the write-up (otherwise you are stuck with what is shown on the MLS), add banners, add photos, and a few other things to dress up you listing. According to Realtor.com, SHOWCASE listings are clicked on 72% more often than regular listings. Adding a SHOWCASE listing is inexpensive to, so we encourage all of our customers to do so.
|
| |
|
| • |
Will my listing look the same as those paying a full service commission?
Absolutely. After you list, we will send you a copy of the listing for your records.
|
| |
|
| • |
I have received an offer. What do I do?
Call us at 888-470-7277 and we will review the offer with you and set you up for your closing. We’ll also be happy to suggest other money saving opportunities for your closing.
|
| |
|
| • |
How does the process work?
The process is simple and takes three simple steps.
| 1. |
First you select the desired package and fill out the order form.
|
| 2. |
Next you will receive a) a copy of the Listing Agreement and b) your local board’s Property Input Forms.
|
| 3. |
Once these two forms are filled out completely you can submit them to us on-line or by fax. If you have any questions fell free to call us at 888-470-7277. A FloridaMLSconnect.com Representative will call you if we have any questions on your forms, but typically your MLS listing will be active within 24-48 hours of receipt of your two forms.
|
|
| |
|
| • |
Will my listing show up on any other Internet sites?
Typically yes, but we make no promises as we have no control as to which listings these independent sites use. Users of AOL, MSN and Wall Street Journal On-line, for instance usually get Realtor.com listings, and there are a host of other sites that tap into your local boards on a board by board basis.
|
| |
|
| • |
Do I have to pay the cooperating broker the commission?
You do if you accept an offer from a buyer that the cooperating broker presented. However, you do not have to accept an offer from anyone. Why not list your property on the MLS for an inexpensive flat fee and see what realtors bring you/ You only accept if you want.
|
| |
|
| • |
Will my listing be passed off to a third party?
No. Most flat fee Internet sites sign-up customers and then pass them off to another listing agent to whom they pay a fee. Many times your order and your information get lost between these parties and you will end up dealing with someone you did not choose (if you can even reach them). At FloridaMLSConnect.com, we handle all of our listings in-house. We are direct members of the MLS's in Florida, and you will only deal with us. Unlike many of our competitors, we specialize in Florida listings.
|
| |
|
| • |
Can I terminate my listing at any time?
Yes, as long as there is not a contract pending on your home. You also cannot cancel your listing to avoid paying a Realtor® their commission. If they brought you the buyer that closes, you will still owe that Realtor ® a commission.
|