F.A.QsHere is a collection of frequently asked questions that I have put together to help you in buying or selling a home. If you have any other questions, not listed here, feel free to call or send an e-mail.
Since you will be using the MLS in most cases an agent will bring the buyer. In most cases the commission will be 2.0 - 3.0% of the listing price. You may set the Selling Office Commission (SOC) to 2.5 - 3.0.
However the commission is set, the higher commission attracts more real estate agent traffic to your house and more offers to choose from. The lower the commission the odds are increased for a buyer without an agent which will save thousands of more dollars but take longer to sell.
Flatmlslisting.com works with different brokers across the US. Flatmlslisting.com allows up to 24 pictures to be up loaded to our FSBO website depending upon which package you choose, there maybe several different realtor association in your area that have different agreements with realtor.com and may limit the amount of pictures the broker can post in the realtor.com website. This goes for other related syndications websites as well.
If you want to calculate out how much you will save listing with Flat Mls Listing. The following example assumes you are listing your property with a traditional real estate agency such as Re/MAX, Keller-Williams, Coldwell Banker...). If your home is listed for $300,000 and your listing commission is 3% you would pay your traditional agent at the close of escrow, $9,000.00. You would also pay the agent who brings the buyer 3% which is another $9,000.00. This is a total of $18,000.
If you use the Flat Mls Listing Service, you would pay the $9,000.00 to the agent who procured the buyer and our fee depending on which Listing Package you choose. You are saving $8,502.00.
Only a licensed real estate broker who belongs to the MLS and pays the MLS dues and fees is able to list a property. An individual can't simply post an "ad" in MLS, like placing an ad in a newspaper. The real estate broker is also responsible for the accuracy of the listing, and keeping it current. When you list with us, a licensed broker who belongs to the MLS where your property is located will be assigned to your listing.
If you list with a typical 6% Realtor, and the property sells, you pay the whole 6%, even if the buyer is your neighbor and the Realtor didn't do anything other than put his sign in the yard and enter the listing in MLS. It gets worse - if you read the fine print in the typical 6% listing contract, you'll notice that you owe the entire commission if you want to cancel your listing early, and end up selling to a prospective buyer that entered your property during the time it was on the market, or if you lease the home without the agent's permission! The main reason so many sellers sign such contracts is that they never read them.