What to Expect

What to Expect with Your Flat Fee MLS Listing

Exclusive Representation Listing Agreement

Your property will be posted on the local Multiple Listing Service (MLS) with an Exclusive Representation Listing Agreement. MLS providers will not allow multiple brokers to post the same property on the MLS at the same time. Therefore, the seller (you) hereby exclusively lists your property with Flat Fee Discount Realty.

Direct Scheduling with the Realtors

Your private contact information will be posted on the MLS for only REALTORS® to view using their password. The MLS and REALTOR.com prohibit your private contact information on their websites. Cooperating brokers are given permission via the Realtor Remarks on the MLS to make showing appointments and ask questions directly with you. If REALTORS® contact us, they did not read the Realtor Remarks on the MLS.

Commission Negotiations

The commission percentage or dollar amount that is offered to the Buyer’s Broker is your decision. The MLS system will NOT allow a seller to state a commission as; To Be Determined (TBD), Negotiable or $0. The default commission will be $1 if not stated.

(The traditional commission is around 3%+).

Closing & Purchase Agreement

Flat Fee Discount Realty is available to accept delivery of offers to purchase your property, submit counteroffers, provide a Seller’s Closing Cost Estimate worksheet and answer any questions relating to transactions that are presented by a Buyer’s Broker upon request. Buyer’s not represented by a broker will be the seller’s responsibility. However, to receive the most accurate closing cost information, based on the details of your Purchase Agreement, you should contact your Closing Title Company for the most accurate information.

 

Things to Remember

  • Earnest money should be held in an escrow account at the Closing Title Company.
  • Your listing will stay active for up to six months. You may cancel your listing at any time once we have your permission in writing. Send a request by email to have the property released from the MLS.
  • Please Note: You may update your listing on our website at any time. However, you will need to email us any MLS changes, so that we can manually update the MLS, as they are two separate websites.

Flat Fee Discount Realty Does Not Provide the Following Services

Flat Fee Discount Realty will not answer Buyer inquiries or questions regarding your property listing. We will not schedule showings or inspection appointments. We will redirect those inquiries directly to you.

We will not attend the final transaction at the closing title company.

The Buyer's Broker is not required to perform the above-listed services and is not required to provide assistance to the Seller in any manner. Flat Fee Discount Realty is your Broker. Please contact Flat Fee Discount Realty for assistance.

It is YOUR responsibility to contact Flat Fee Discount Realty to update the MLS within 24 hours of an Executed Contract.

PLEASE NOTE: As a client of Flat Fee Discount Realty, you agreed to pay all fines administered by the MLS for not providing accurate and up-to-date information in a timely manner.

About the MLS

The purpose of the MLS is to provide participants of the MLS with a means of making offers of compensation to other MLS participants 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.

The Seller (you) must agree to these terms and conditions. The Listing Fee is earned when the property is posted in the MLS. The Seller (you) agree that once your listing is posted on the MLS it is fully understood that there is no refund and the Seller (you) waive the right to a merchant chargeback.

***VERY IMPORTANT***

Once your property has an Executed Contract (both the Buyer and the Seller have signed the purchase agreement) please email us the information below within 24 hours. It is the Seller's responsibility to send:

  1. Buyer's REALTOR®'s Name (if applicable)
  2. MLS Number or Address
  3. Contract Acceptance Date
  4. Anticipated Closing Date
  5. Price Property Sold for
  6. Any Seller's Concessions ( example: Did the Seller commit to paying a specific portion of the Buyer's closing costs or any other costs?)

**Your Listing will be updated as SOLD on the anticipated Closing Date. If the Brokerage is not notified prior to the closing date of any changes, there could be a fine imposed by the MLS for changing the status of the listing beyond the time allowed by the MLS. Please update your listing in a timely manner. **

Thank you for your cooperation and thank you for your business.

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