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What is the Multiple Listing Service (“MLS”)? |
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It is basically a database for Realtors to share listings with other Realtors to obtain a MAXIMUM EXPOSURE and increase the chance of a resulting sale for any particular property. Only licensed brokerages and agents who belong to the local boards and the National Association of Realtors are allowed to enter listings into the MLS. The MLS is the primary tool for Realtors to locate the right properties for their buyers. |
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Do I really get MAXIMUM EXPOSURE listing my property in the MLS? |
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YES!!! Information on the MLS database can only be accessed by participating Realtors. With the rapid advancement of the internet, the creation of real estate websites makes the MLS accessible to the general public through the use of IDX integration, such as Realtor.com, Zillow, HomeSeekers.com, etc. These websites combine the information from all the MLS Boards and combine it into one giant website, basically allowing people from all over the world the ability to search and view listings without the need of a Realtor or agent or licensed agent. |
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What is the typical commission paid to list a property on the MLS? |
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Listing agents typically charge the Seller a 6% commission on the contract sales price of a residential property. The listing agent keeps 3% for listing the property and 3% goes to the agent that brings a qualified buyer. |
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What is the advantage of listing with Fixed Fee MLS Realty, LLC.? |
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There are 2 main underlying points that you must take into consideration to answer this question. First, it is believed that over 90% of buyers use the MLS to help them locate a property, either through a Realtor or directly via the use of one of the many public websites that only contain properties listed on the MLS. Second, it is also believed that the listing agent that lists a property actually sells that property less than 5% of the time. Therefore, in lieu of paying a 3% commission to list your property, Fixed Fee MLS Realty, LLC will list your property on the MLS for a nominal fee, effectively saving the Seller possibly thousands in commissions. |
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What if I sell my property on my own? |
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MORE SAVINGS FOR YOU!!! List with Fixed Fee MLS Realty, LLC and you increase the probability that you get contacted directly by a prospective Buyer. Dealing directly with a Buyer gives you greater control to get that deal done. Either save an additional 3% or have the flexibility to lower your price while still increasing your bottom line. |
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How long will it take for my listing to post in the MLS and Realtor.com? |
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Your listing will be entered into the MLS usually within 24 hours after receipt of payment, a signed Listing Agreement and submitting the necessary listing forms available on our website. You will receive email notification once the listing has been entered into the MLS with a copy of your listing for your records. Your listing should appear in Realtor.com between 48-72 hours after it is entered into the MLS. |
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How does information about my property get on the MLS? |
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Fixed Fee MLS Realty, LLC. will provide you with the applicable MLS Data Input Sheet. This data sheet will require you to answer all questions listed, which will provide potential Buyers with the type of information they require if your property meets their criteria. The MLS Data Input Sheet fields cannot be customized. The information on the data sheet also goes to Realtor.com, plus all the public internet sites for your area. |
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Can I make changes to my listing? |
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Yes. We offer unlimited changes to your listing. For security reasons, we are the only ones with the access codes required to make changes to your listing. Therefore, any request for change may be made via email or fax and should be processed within 24-48 hours upon receipt. |
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What telephone number will be on my MLS listing? |
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You will be providing us with the desired telephone number for any Buyer or agent to call for information or showing instructions. This information would be placed in your MLS listing. Depending on the website, the contact information may only show the Broker of record for that listing. In such a case, all calls received shall be forwarded to your desired telephone number. |
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Will agents show my property if I use a fixed fee listing? |
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Definitely! Agents will be happy show your property provided they receive a competitive commission if they procure the Buyer to sell your property, usually 3%. |
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Are there any fees in the event I want to cancel the listing? |
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There are no cancellation or termination fees. |
