FAQs
Flat Fee Discount Realty put together a collection of frequently asked questions to help you in selling a property.
In addition, here are additional resources:
Oklahoma Buyer/Seller Contracts | Texas Buyer/Seller Contracts
If you have any other questions, not listed here, feel free to call or send an e-mail.
General
How does Flat Fee Listing work?
We are REALTORS® and a BROKER. Our Limited Service Listings are viewed in the MLS, and by the public, the same way as a a Full Service 6%+ Listing. You are just paying much less money to get the exact same service.
Once you make a payment via PayPal, we will send you the Listing Agreement via DocuSign. The DocuSign forms will include an Exclusive Right to Sell Listing Agreement, Property Condition Disclosure(s) and a Data Form giving us the details of your property. Please complete these forms to the best of your ability. The more information you provide us, the quicker you'll be listed in the MLS.
PLEASE NOTE:
* Your property will be posted in the Multiple Listing Service (MLS) with an Exclusive Right to Sell Listing Agreement. (The MLS will not allow multiple Brokers to post the same property in the MLS at the same time.)
How long have you been in business?
We started real estate in 1998. We have been doing flat fee real estate since 2004.
What are your business hours?
Our normal business hours are 9-5 M-F. However we do check emails during non-business hours 7 days a week.
What is your success rate?
When clients listen to our suggestions, it is 100%. The key to selling Real Estate is the list price. If you list your property too high, it will most likely not sell.
A Comparative Market Analysis (CMA) will be provided UPON REQUEST.
You may request a CMA via Email to: Support@FlatFeeDiscountRealty.com
Why doesn't everyone list their property with a flat fee?
Many Sellers do use this option. However, some Sellers have never heard of listing for a flat fee in the MLS and some feel there is some catch or it is too good to be true or simply do not have the time involved in selling their own property, so they need to hire a full service listing agent.
Sellers
How do buyer agents know how much commission we are offering?
It is posted on the MLS for agents to see with their passwords.
Can I cancel listing at anytime and list with another agent?
Yes, you may cancel your listing at anytime. Just send us an email giving us written permission to release your listing.
PLEASE NOTE:
* Seller or Listing Broker may cancel a Listing at anytime. Please note the “Protection Period” in the Listing Agreement (Seller cannot cancel a listing under contract).
Can I personally list my property on the MLS without a REALTOR®?
No, only a licensed REALTOR® who is member of NAR (National Association of Realtors) and the local MLS board can list on the MLS. There is no other way.
How do potential buyers contact me?
Your phone number goes on the sign. Should a buyer contact us, we will give them your direct contact information.
The MLS guidelines prohibit private information from being posted on their website. If a Buyer is interested in your property, the Buyer will contact their Agent so the Agent can use their password to look up your private contact information.
How long before I receive the sign and lock box?
A Yard Sign is sent upon request. We usually ship the same day your property is posted in the MLS, so you should have it within 5-7 business days from date of listing. We ship USPS.
We do not supply a lock box but you should be able to purchase a combination key box at any local hardware store, including Home Depot and Lowe's.
How Long does it take to get listed?
We can usually have you listed in the MLS within 24-72 hours after we receive the paperwork from DocuSign & photos.
Please EMAIL a minimum of 6 photos (up to 25) in a .jpg format direct to Support@FlatFeeDiscountRealty.com so the photos can be uploaded to the MLS. Please send photos as ATTACHMENTS (do NOT send linked jpegs from GoogleDrive or other cloud platforms). Depending on the photo size, you may need to send a few emails or compress the photos to a zip file. We can not download photos from any website (including FlatFeeDiscountRealty.com) as they often pixelate, distort or the photos download too small.
How will I get offers?
Flat Fee Discount Realty Brokerage is a Limited Service Listing Company. You signed a disclosure authorizing Agents to send offers directly to you via Email. However Flat Fee Discount Realty is available to accept delivery of Offers to Purchase your property, submit Counteroffers, provide a Seller’s Closing Cost Estimate and answer any questions relating to Real Estate transactions that are presented by a Buyer’s Realtor (Selling Broker) UPON REQUEST.
Sellers may obtain Real Estate transaction forms/contracts by visiting the Oklahoma Real Estate Commission or the Texas Real Estate Commission’s websites. Buyer’s not represented by a Realtor (Broker) will be the Seller’s responsibility.
PLEASE NOTE:
* It is the Seller’s responsibility to contact Flat Fee Discount Realty to update the MLS within 24 hours of signing a Purchase Agreement. As our client, you agreed to pay all fines administered by the local MLS for not providing us with accurate and up-to-date information regarding your Real Estate transaction.
Is the flat fee all we pay you to list? Do we owe you anymore fees at closing?
You only pay the flat fee at time of listing and you owe us no money at closing.
The Purpose of the MLS is to provide Participants of the MLS (Realtors) with a means of making offers of compensation to other MLS Participants (Realtors) in respect to properties exclusively listed by them so that they may better serve the buying and selling public. Please Note: If a Realtor shows your property to the Buyer that ultimately purchases your property, that Realtor is the Procuring Realtor and is due the commission. If no Buyer’s Agent is involved in the transaction, there is no further commission due.
What phone number goes on the sign?
Your phone number. You can also put the MLS# on the sign too.
When will I receive my MLS#?
Your MLS# is generated at the time we list your property on the MLS. Once listed we will email you a pdf copy of what Realtors see (with their password) when they view your listing in the MLS.
Your private contact information will be posted in the MLS for only Realtors to view using their password. Once your property is posted in the MLS system, that data automatically downloads into other Realty websites including Realtor.com. How the information is ultimately posted on other websites is beyond our control. Realtor.com (& other Real Estate websites) sell zip codes to local Buyer Representatives (Realtors) in your area, so Buyer inquiries will go directly to that Realtor. The MLS guidelines prohibit private information from being posted on their website (MLS). If a Buyer is interested in your property, the Buyer will contact their Realtor so the Realtor can use their password to look up your private contact information in the MLS. Our ultimate goal is to have Realtors help bring you a qualified Buyer.
PLEASE NOTE:
* Seller may change or update their MLS listing via Email anytime.
* The Listing fee is earned when the property is posted in the MLS. Seller agrees that once their listing is posted in the MLS it is fully understood that there is no refund and the Seller waives their right to a merchant charge back if paid using a credit card.
Who handles the paperwork?
Cooperating Brokers (Realtors) have permission and authority to make appointments and ask questions directly with you.
PLEASE NOTE:
* Flat Fee Discount Realty is available to accept delivery of Offers to Purchase your property, submit Counteroffers, provide a Seller’s Closing Cost Estimate and answer any questions relating to Real Estate transactions that are presented by a Buyer’s Realtor (Selling Broker) upon request. Sellers may obtain Real Estate transaction forms/contracts by visiting the Oklahoma Real Estate Commission or the Texas Real Estate Commission’s websites. Buyer’s not represented by a Realtor (Broker) will be the Seller’s responsibility.
* Flat Fee Discount Realty will not answer BUYER inquiries or questions regarding your property.
* To receive accurate closing cost information, based on the details of your Purchase Agreement, you will need to contact your closing title company.
* Earnest Money should be held in an Escrow Account at the closing title company.
* We will not schedule showings or inspection appointments.
* We will not attend the final transaction procedure at the closing title company.
Please note: The Buyer’s Realtor (Selling Broker) is not required to perform the above listed services or assistance to the Seller.
Flat Fee Discount Realty is your Realtor (Broker). Please contact Flat Fee Discount Realty for assistance.
Will buyer's agents be reluctant to show my property listed like this?
No, because your listing looks just like all other listings on the MLS. You are listed the exact same way as all other MLS listings. How much money you pay us to list your property is not posted on the MLS and agents are not concerned with how much you paid us, they are only concerned with how much money they will make.
Will my phone number be on the MLS?
Yes, we put your contact information in the REALTOR REMARKS on the MLS for agents to contact you if they have questions.
