Questions and Answers on Flat Fee Package:
How can you provide this flat-fee MLS service so inexpensively?
With advances in technology, real estate agents are able to do it in one hour today, which would have taken ten times that years ago. This has led to the advent of “ChadHigby.com” or “Unbundled MLS Listing Brokers” and real estate companies throughout the US that offer similar services as traditional brokerages, with the resulting reduction in costs being passed on to you the homeowner. Home sellers everywhere are retaining higher equity in their homes by refusing to pay high real estate commissions. We provide professional FULL-SERVICE and Flat-Fee MLS listing services and promise to save you thousands of dollars on the sale of your home.
Why should I use a Flat Fee Listing program like yours rather than just selling by owner?
Our service provides far greater exposure than traditional for sale by owner (FSBO) marketing and advertising efforts. Relying on the traditional marketing and advertising associated with an FSBO is limiting, at best. Also, it can be an expensive proposition. Ultimately you may find that most qualified buyers want or need the assistance of real estate brokers and agents. Thus, your property will be exposed to more qualified buyers through the MLS network accessed by REALTORS.
Also, agents and brokers will feel more comfortable dealing with you knowing that their commissions are protected. Qualified buyers are those who have both a real motivation to buy and the financial ability to buy. The truly professional real estate agent will ensure that their buyers are pre-approved for financing before showing them homes in their area. Also, having a real estate professional accompany a potential buyer to your home may add a measure of safety for your family. You will not have to be alone with a stranger in your house who simply states that they are a buyer.
Research shows that nearly 50% of all home sellers start out trying to sell their property on their own. Although some homeowners are successful with FSBO, according to the latest National Association of REALTORS (NAR) home seller survey, only 9% of sellers actually sell their homes without exposure to the MLS. And many of them end up giving away their commission savings to the buyer to close the deal.
The MLS is a cooperative marketing system that allows professional REALTORS® to share information about real estate for sale. It is the most powerful marketing tool for a homeowner to sell their home. Regardless of which company an agent works for, he or she has access to the same database through its local board of REALTORS®.
What is the difference between my local MLS and REALTOR.com?
The NAR (National Association of Realtors®) prohibits REALTORS® from including the sellers’ contact info on REALTOR.com, directly, because it’s publicly accessible. Do not confuse REALTOR.com with the REALTOR® MLS. They are two separate systems, even though they are both operated by The REALTORS® Association. REALTOR.com downloads property data from the local Board of REALTORS® and makes that property data available to the public, on a limited basis.
REALTOR.com is not a “For Sale By Owner” website, and so, therefore, a seller’s contact information is not available. It is acceptable to list the seller as the property contact on the local Realtor® MLS; that’s because it is ONLY accessible to REALTORS®. We list you as the contact on the local MLS.
If a broker from another real estate company brings me an offer, is the 3% (buyers commission) split with you?
No, we do not split the 3% commission with the buyer's agent. The 3% commission goes directly to the buyer's agent's firm at the closing.
Is your listing fee refundable?
Do you offer a lockbox?
Yes, lockboxes are available to purchase during sign-up, or maybe available in the package you chose. You can also purchase a combination lockbox at your local hardware store or from us at any time.
How long does it take to be listed on the MLS?
During normal business hours, it takes about 24 hours after our broker affiliates enter your information on the MLS. The quicker you complete the setup, the faster it will be available!
Is any special designation given to a flat-fee MLS listing on the MLS?
In many cases, the MLS may have an option to note that this listing is an “Entry Only” type of listing. Other than that, there is generally not any special designation that singles out Flat Fee MLS Listings. The NAR (National Association of REALTORS®) policy on Flat Fee MLS REALTORS® is “zero” discrimination tolerance. Local boards have been instructed by the NAR that they can not discriminate against Flat Fee MLS brokers, it violates Federal Trade Commission Laws.
What if I sell the house on my own?
When you list your home through FlatListed.com you pay an upfront fee to list, but you still maintain the right to sell your home on your own on most of our packages (buyer must be unrepresented and found directly by the seller).
What if FlatListed.com finds the buyer?
FlatListed.com does maintain the right for any of its agents to find/bring a buyer to the seller and receive the buyer's agent fee that's offered once the property has sold/closed. Basically, if we find and handle the buyer's side we have earned the buyer's fee and will receive payment at closing as would any buyer's agent that successfully brings you a buyer that purchases your property.
How will I know if my property is listed with all of the correct information?
You will receive a copy of your MLS listing and you may make any changes you like, provided the changes are acceptable to the rules and regulations of your local MLS and Board of REALTORS.
Is there anything I should ask a buyer about before showing the home when I find my own buyer?
If an individual contacts and works with you on their own, It’s always a good idea to get the buyer’s name and phone number in advance, so that you can confirm the appointment and follow up after the showing. Potential buyers tend to show up for the appointment more often when they know you have their phone number.
Be sure to ask about their financing arrangements before you agree to show your home. Showing your home to financially unqualified buyers can be a major waste of time. Remember, there is a big difference between”pre-qualified” and “pre-approved” with regard to mortgage financing. One is a “looks good” statement, while the other is an actual commitment to fund a loan. Learn more about Showing Your Home.
Should I be concerned about lead-based paint?
If your home was built before 1978, you are required by law to provide your buyer with a lead-based paint disclosure, along with the EPA pamphlet entitled, “Protect Your Family From Lead In Your Home” and you can download a copy here. Your broker affiliate can also provide you with this booklet when you list your home.
Should I be concerned about radon gas?
Radon is a naturally occurring, radioactive gas. It is impossible to detect radon without testing
Will you conduct open houses?
You may hold an open house of your own if you so desire. However, we only conduct open houses on full-service listings. The fact of the matter is that open houses are primarily prospecting tools for real estate agents. Open houses are really a way for agents to get their names out there to prospective buyers who are early on in their quest to buy a home. Furthermore, very few homes are sold as a result of an open house because many of the visitors are tire-kickers, bargain hunters, nosey neighbors, and people looking for something to do on the weekends.
Will my property be listed on the Internet?
Yes. Your property will be listed on REALTOR.com and many other real estate websites. These internet listings will give you national exposure to out-of-state home buyers. Since hundreds of people move to other states daily, this exposure can be a vital component in selling your property quickly and for the best price. Independent websites will obtain your listing directly from the MLS. Keep in mind that they pick up whatever they wish from your MLS listing to publish on their websites. Thus, we have no control over these independent websites and we cannot change or edit their content.
Dare to Compare
We strongly encourage you to shop around. We think that you’ll find that even our FULL-SERVICE Package offers as much if not more as some so-called “full-service” agents. For the agents that do offer more, ask yourself if what they do is worth the extra money?