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Flat fee MLS (sometimes referred to as "flat rate mls" or "fixed fee mls") refers to the practice in the real estate industry of placing pertinent information about a property for sale into the database of the local Multiple Listing Service (MLS) for a set fee or dollar amount as opposed to a commission based on the sales price of the property.
In this instance, the Listing contract between the real estate broker and the property owner typically requires the broker to enter the property into the MLS and calls for the seller to pay the broker a flat fee for the service. The net effect is to make the real estate industry's standard MLS available as a marketing tool to house sellers without the necessity of the seller purchasing a package of other services from the real estate agent.
This service is typically much cheaper than using a traditional real estate listing contract. The listing fee for a "flat fee MLS" can range anywhere from $200-$500, depending on the area, while traditional brokers charge a total of 4% to 7% of the selling price of the property, that amount typically being split between two brokers involved in the transaction or two agents/brokers from the same company. However, in all cases where the property is "listed" in an MLS when using a fixed fee service, the seller must still offer a "Buyer's Agent Commission", typically 2.5% to 3% of the selling price paid to a co-operating broker who brings a buyer. However, the commission which is normally paid to "listing" broker is eliminated by payment of the flat fee. The savings can be substantial.
The four steps to follow to fire your real estate agent in Texas.
RISMEDIA, Septmeber 28, 2007 — We’re happy to announce Joy Rice as our interim local author and sponsor for Dallas Texas real estate news and information. She will author this area until we get a permanent local sponsor. Joy Rice is a Dallas Texas real estate agent and the team leader of Joy Rice Realty Group with RE/MAX DFW Associates.
Here are Real Estate Leads in Dallas, Texas. Here's a place to obtain real estate leads for the Dallas, Texas area. If you are an agent or broker in Dallas, ...
Here's a place to obtain real estate prospects (leads) for the Fort Worth, Texas area. If you are an agent or broker in Fort Worth, this system will provide you with a consistent flow of prospective buyers/sellers who are requesting contact from an established agent. Let us do the marketing for you, and you just work with serious prospects..
Here's a place to obtain real estate prospects (leads) for the Dallas, Texas area. If you are a real estate agent or broker in Dallas, this system will provide you with a consistent flow of prospective buyers/sellers who are requesting contact from an established agent. Let us do the marketing for you, and you just work with serious prospects..