Q & A about Flat fee MLS listing programs

What is MLS?

Multiple Listing Service (MLS) is the service where licensed real estate agents and other real estate professionals list homes for sale or lease in an area and share all comprehensive home information among them. For-Sale-By-Owner (FSBO) properties can not be listed on the MLS except if home seller offers commission to a BUYER's broker/real estate agent.

How long does it take to be listed on the MLS?

It usually takes 24-48 hours to be listed on the MLS.

Will my listing look the same as those who have agreed to pay a full listing commission?

Yes, it will . Difference between your listing and other full listings will be that we will display your phone number as the contact number for Agents to call for additional information they may have about your property. Your Flat Fee MLS listing is as attractive as others listings.

How will I know if my property is listed with all of the correct information?

We will fax or email to you MLS listing and you can also check it on Realtor.com.

What areas do you serve?

Currently we list homes on the MLS in Dallas/Fort Worth metroplex area, Texas.

Is the MLS really going to help me sell my home?

Yes, it will help you. You will need all the exposure you can get and listing on the MLS is the best way to do that. Up to 90% of all US home buyers use the service of a real estate agent and, their real estate agents use the local MLS to search for homes on the market. There is no guarantee that listing your home on the MLS will bring you a buyer, but having your home on the MLS is crucial if you are serious about selling!

Can I pay less then 3% to buyer's agent?

There is no "standard commission rate" that you have to pay, but prevailing commission on 99% of all listings is 3% for buyer's agent.

What if I sell the house on my own?

When you list your home with mls4tx.com you maintain the right to sell your home on your own. If you find a buyer yourself and buyer is not represented by agent ALL YOU PAY IS THE FLAT FEE!

Will you conduct open houses?

You may hold an open house of your own, if you so desire. We do not conduct open house with flat fee listing. The only revenue we receive is from the flat fee MLS listing.

Who will do all of the paperwork involved in the sale of my home?

We will provide to you all the necessary legal paperwork, contracts, addendums, and other forms required to sell your home. If you need help in negotiating, filling out forms etc. see next question.

What if I want you to handle the transaction?

We have two different plans, $75 for a contract consultation (go over offer with you and offer advice) and $395 for complete transaction w/negotiations (offer advice and go over offer and handle negotiations). Just give us a call and we can get started.

Are there any additional fees?

All of the fees we charge are listed on the web page where the order button appears. Shipping costs are included and there are no additional fees charged by other agents involved in the transaction. We do not charge any other fees to you for the sale of your home. Please call us if you have any question about this.

How do you handle changes to the listing?

There are no additional charges to status changes, price reductions or our possible errors in listing. Unlike most of agencies we also allow 1 free change to the listing. After that any other change is $25.00 per change request.

Will my house be listed on other websits at the same time as MLS?

We have no control over other websites and as Realtors we input information into the MLS only, not the websites. However, websits download informatoin from MLS so it can take from 1 to several days before you listing appears on other websites.

What if I decide to list with different real estate company?

You may cancel you agreement at any time, unless you are under contract to sell. The listing fee you paid is non-refndable.

Now that I am listed what do I do?

We are responsible for the status of your home on the Multiple Listing Service and must know if you receive an offer, change the price or need to cancel your listing. We are here to answer your questions; however agents are instructed to call you with questions regarding your property.

What do I do if I receive an offer?

That depends on whether buyer is represented by an agent or not. If buyer is represented by buyre's agent, by law he is not allowed to negotiate directly with you. They may deliver the contract to you but they are not supposed to “negotiate” directly with you unless the listing agent is present. We do this through email. (See next question). If a buyer not represented by an agent wants to make an offer, you can get all of the forms and addendums on our web site at www.mls4tx.com/forms

How are offers from buyer's agents handled?

The offer should be faxed to us at 469-342-8104; it will come to us in an email. We will forward the offer via email with instructions to you, the buyer’s agent, and back to us. It is very important for you to respond quickly; at least let them know when you will counter. When you counter offer you “reply to all”; that way we are in the loop. We are also here to answer any questions about your offer. After it is negotiated it is turned into the Title Company and they will handle the closing. You MUST notify us if you sign a contract.