What is the Multiple Listing Service (MLS)? The MLS is the traditional database agents use to find homes for the buyers that they represent. In the past the only way to get your home on this powerful list was to hire a full commission agent because only licensed real estate agents can list property for sale in the MLS.
How does the MLS Help Me Sell My Home? Listing a home on the MLS notifies all local agents that your home is for sale. Over 80% of buyers are represented by agent 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. Call (320) 212-5309 if you have more questions. We are happy to explain the process step by step.
Why does it cost flat fee? Is that the only fee? Flat Fee,is all you pay 123 Realty LLC no additional commission.
Traditionally a sellers agent will take a 6% commission, keeping 3% and giving 3% to the buyers agent. With Flat Fee MLS you pay $299 as a sellers agent fee instead of the standard 3% to list your home on the local MLS. If an agent brings you a buyer you will owe them the 3% buyer’s fee (or whatever fee you choose when you list). On a $300,000 sale you will save $8,700 in fees using flat fee MLS.
Is it Difficult to Sell without an Agent? We helped hundreds of people just like you sell their home and save. Call us if you have any questions about how it works or what to do next (320) 212-5309. Although our agent place the listing on the MLS for you, the calls and buyers will be referred directly to you.
What is the Role of the Listing Agent? Only licensed real estate Broker can place homes in the MLS. We are a Minnesota Broker experienced flat-fee MLS who will prepare the paperwork and place your home in your SASI MLS MN. We do not charge a commission; your only cost is a one-time fee for the service. We will forward all calls about listings to you directly and quickly
Who Handles the Paperwork?All the necessary listing forms and disclosures will be provided by us. They can be emailed, faxed, mailed, and in some cases, completed online.
Are There Any Sellers Agent Commissions? No. You pay only a flat fee to the listing agent.
Are There Buyer’s Agent Commissions? Yes. If an agent sees a listing and brings a buyer, you must pay the buyer’s agent a commission if you accept the offer. You decide how much commission to offer as part of the MLS listing process. The commission you’re willing to pay is stated on the MLS listing. It is NOT negotiated on an agent by agent basis. We recommend offering a commission between 2 – 3% since your listing will be competing with others for agent’s attention.
What if I Find a Buyer Myself? Do I pay any commissions? No. No commissions are owed if you find the buyer.
Whose Phone Number is on the MLS? The MLS listing will display both the agent’s contact information, yours as well. When the listing agent receives inquiries about your property, the interested parties will be directed to you to set up showings and discuss details about your property. Realtor.com does not allow seller’s phone numbers to appear in their listings.
How Soon Will My Listing Appear on the MLS After I Sign Up? WE will call or email within 2 – 7 business days(not including weekends) after an order is placed. We will send all the forms required to complete the MLS listing. Once these forms are completed and faxed or emailed back to the agent, the listing will be in the MLS in 24- 48 hours (excluding weekends). So orders placed on Monday can easily be listed by Wednesday. However, orders placed Thursday or Friday may not be listed until the following week. Once listed in the MLS it takes Realtor.com 2 – 5 business days to upload a listing to their site. This is an automatic upload and can’t be speeded up.
How Many People Will See My Listing? Just like any agent-sponsored listing, a flat fee MLS listing will receive free national exposure on the Realtor.com website with a color photo and description. The website is open to the public and is the most heavily trafficked real estate website on the internet. Only properties listed in the MLS can appear on Realtor.com. In addition, MLS listings are featured on Zillow!,Trulia, and other real estate websites that attract millions of potential buyers.
What About Photos? Upload digital photos of the exterior and interior of the house. If necessary, hard copy photos can be scanned but will slow down the process. The photos need to be saved in a .jpg file, ideally 640 x 480 pixels. Email the photos us. Number of photos allowed on plan you chose.
Can I Get More Help from the Agent? WE will provide additional services including contract review, negotiating, and close of sale. These services are subject to an additional charge. If you are interested in extra services, please call us at (320) 212-5309 for assistance.
Do I live in a Jurisdiction requiring additional fees? In a few select areas, local state laws require that agents provide additional services to home sellers which result in additional fees. All Flat Fee MLS providers in a given jurisdiction are subject to the same rules. Please call (320) 212-5309 for more details.
If you accept an offer from a buyer without an agent, additional fees DO NOT apply.
What is the MLS Listing Length? Â The flat fee MLS listing period is up to the plan you chose. It may be extended for an additional discounted charge. Listings can be withdrawn from your local MLS at any time by request.
Can I cancel my MLS order? You may cancel at anytime.
I have a Yard Sign, can I still use it? In most areas, yes. Due to local regulation, the use of “For Sale By Owner” signs are not allowed in some areas when listed on the MLS. Alternatively, 123 Realty LLC. signs can be used and are available through 123 Realty LLC MLS Please call us at (320) 212-5309 to see if any restrictions apply in your city.
Have a question that isn’t answered above? Call us at (320) 212-5309 or send us a message via the contact form.