DFW FLAT FEE MLS FAQ's
Q: What is the Multiple Listing Service? (Also known as the MLS)
A: The multiple Listing Service (MLS) is the National Association of Realtors (NAR) computerized list of homes currently for sale. The Multiple Listing Service is the primary data system that most Real Estate Agents use to market and sell property and to locate property for buyers.
This is the most powerful marketing tools the Realtors have. Being listed in the MLS will put your home in front of thousands of hard-working buyer agents and their serious, qualified buyers.
Q: How will I save thousands with your DFW Flat Fee MLS?
A: The illustration assumes that you list your property with traditional real estate company (for example, Keller Williams, Century 21, Re/Max, etc). Under this illustration, let's assume your home sells for $250,000 and that you paid $499 fee for the MLS option. Your commission would be $7,500 plus our $499 fee, for a total of $7,999. This is calculated as follows: $250,000 x 3%= $7,500 paid at closing and our fee of $499 (paid at time of listing). Now, let's compare the savings if you listed your home with a traditional broker for 6%. The commission on a $250,000 sale with a 6% commission rate would be $15,000 ($250,000 x 6% = $15,000). Therefore the savings would be $7,001 ($15,000 - $7,999 = $7,001).
|Selling Price||Traditional 6% Realtor Commission||499+3% Commission||Your Savings|
Remember, if you find a buyer on your own, you pay NO commission.
Q: Is this the same Multiple Listing Service (MLS) to which all area Realtors belong?
A: Yes. All participating MLS Realtors belong to their local association of Realtors
Q: Will real estate agents show my home?
A: Real estate agents will be paid the normal/traditional selling commission. Realtors almost exclusively use the MLS to identify homes that match their buyer's needs. The MLS listing will show that your home is listed and that there is a buyer's agent real estate agent commission offered.
Q: Will my home be on the Internet?
A: Yes, your home will be listed on our website, realtor.com, 100's of local real estate websites and on many other regional and national real estate websites.
Q: Must I have a lock-box?
A: No, but Realtors depend on quick and easy access and rely on them in order to show your home.
Q: Is it true that Realtors using the MLS sell most houses and that they usually sell for a higher price?
A: Yes, it's true. According to the National Association of Realtors, approximately 80% of all homes are sold through Realtors using the MLS. Homes listed on the MLS average net proceeds of 7% higher than homes sold for sale by owner.
Q: How do I make changes to my listing?
A: You can make multiple changes to your listing be sending us an email.
Q: If I find a buyer, will I still have to pay a commission?
A: No. You will maintain the right to sell your home on you own. If you find a buyer, you will not be obligated to pay a commission on the sale.
Q: Are their any other costs?
A: No, your maximum cost is $499 paid upfront plus 3% buyer's commission.
Q: What if I want to change the price of my home?
A: Simply e-mail us your requested price change. Once received we will e-mail you an addendum to the listing agreement to change the price. After we receive the signed addendum, the change will be input into the MLS.
Q: Will my MLS listing look different than other real estate company MLS listings?
A: No. It will look the same as all the other MLS listings.
Q: Can I terminate my agreement early?
A: Yes, you can terminate the MLS listing at anytime.
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