Here is a collection of frequently asked questions about Flat Fee MLS that we have put together to help you. If you have any other questions, not listed here, feel free to call or send an e-mail.
By clicking on any of the questions below, you may view the answer.
Flat Fee MLS
a. What is a Flat Fee MLS listing?
A Flat Fee MLS listing is a limited service/representation type listing designed for By Owner sellers who want their property listed on the same MLS Realtors use to list and sell property, all while maintaining their right to sell on their own and represent themselves. Rather than paying a listing agent a typical commission at closing, sellers will only pay a one-time upfront flat fee to a listing agent to get their property listed on the multiple listing service.
b. Flat Fee MLS vs Traditional Full Service Listing?
Unlike a traditional listing where sellers can expect to pay 6% or more in total Realtor commissions (common split would be 3% to the listing agent and 3% to buyer’s agent), with a Flat Fee MLS listing you cut out the typical listing agent commission (3% for example) and would just pay us a one-time flat fee to have your property listed on the multiple listing service. Here, we would either list your property on the RMLS™ or NWMLS, depending on your property location. You would only pay a commission to a buyer’s agent (assuming one is involved in your sale), so essentially you could be saving half or more in total commissions normally due with a traditional full service listing. Because Flat Fee listings are limited in service, you would still represent yourself and handle all inquiries, property showings, property pricing, offers, negotiations, closing details and any other forms of marketing other than what we provide in our Flat Fee MLS packages.
c. How long does it take for my property to be listed on MLS?
We guarantee your property will be listed within 24-48 hours or less of us receiving all necessary information about you and your property. Same day listings are possible if we receive all necessary information and/or documentation by 11:00AM Pacific Standard time. Please contact us or specify in the listing process if you need expedited service. We are happy to do our best to get you listed in your desired time frame, if possible.
d. How long will it take for my property to be syndicated to REALTOR.COM®, Zillow.com, Trulia.com, Redfin.com and other real estate websites?
REALTOR.COM®, Zillow.com, Trulia.com and various other syndicated real estate websites are their own separate entity, so while we cannot guarantee when exactly your property listing will appear on these other websites, it will typically be within the same day and likely within minutes.
e. Will I be the primary contact person on my MLS listing?
The multiple listing services (MLS) we belong to (RMLS & NWMLS) do not allow sellers' contact information to be displayed on Public MLS data. It is required that the listing broker's contact info be displayed to the public. However, your contact info and showing instructions will be the primary and available to all Realtor® members of the MLS your property is listed on.
PLEASE NOTE: All inquiries that we do received from the public will be expeditiously forwarded/directed to you. Typically within 1-3 hours of receipt and often less.
EXAMPLE: A buyer contacts us via email and/or leaves us a voice message inquiring about your listing which they happen to see on Zillow.com. Once we receive the message, we will forward you the email or voice message and leave it up to you to contact that prospect.
f. Do I have to pay a buyer’s agent any commission?
Yes, to be listed on the multiple listing service, it is required that you offer a Buyer’s Agent Commission (BAC). While this amount is determined by you, a large majority of sellers offer in the range of 2.25-3.0%. The BAC can also be either a percentage or dollar amount, but a large majority of listings offer a percentage. A flat dollar amount is very rare so we do not offer this option. IMPORTANT NOTE! WE STRONGLY RECOMMEND YOU OFFER WITHIN OR CLOSE TO THE 2.25-3.0% RANGE AS POSSIBLE, AS SELLERS WHO OFFER TOO LOW OF A COMMISSION TO BUYER AGENTS WILL RUN THE RISK OF LOW SHOWING ACTIVITY AS AGENTS MAY PASS UP ON SHOWING THE SELLER'S HOUSE.
g. Do I have to pay the Buyer’s Agent Commission (BAC) if I sell to an independent buyer?
No. You will not have to pay the BAC if you sell to an independent buyer who is not represented by a real estate agent, as you maintain your right to procure and sell to your own buyer.
h. Do you take photos of my property?
Unless you select our Professional Photo Service option, we do not take photos of your property. You will need to provide us with your own digital photos, which you will be asked to upload during the sign up process or you can simply email them to us at: [email protected]
i. Can I upgrade to a full service traditional listing?
Yes, you are welcome to upgrade to a full service traditional listing with us anytime. You would just need to contact us for a free no obligation consultation. We offer a variety of programs and a comprehensive and unique marketing plan.
j. What is your listing cancellation policy?
You can cancel your Flat Fee MLS listing at anytime with advance written notice and as long as there is not then a pending contract for sale on your property that would result in a commission due to any real estate broker.
k. What is your refund policy?
We will give you a 100% full refund within 3 business days for the following situations:
a) If you change your mind and decide to cancel your listing prior to us activating it. Once your listing is activated, there will be no refund given.
b) If for any reason we cannot provide you with the advertised services and/or products included in the Flat Fee MLS package(s) and any optional services and/or products you purchase.
c) If we choose not to list your property for any reason. We reserve this right.
RMLS™ or NWMLS vs MLS?
MLS stands for multiple listing service. It is essentially a database used among real estate professionals to share comprehensive property information. Listing brokers use the MLS to list properties under a contractual agreement that offers a commission to a cooperating broker who brings a buyer (also known as buyer’s broker or selling broker). While there are numerous MLS databases used all over the country, the two major MLS systems that we belong to are the RMLS™ and NWMLS. RMLS™ stands for Regional Multiple Listing Service and NWMLS stands for Northwest Multiple Listing Service. The RMLS™ at present time is the Northwest’s largest REALTOR®-owned Multiple Listing Service. It covers many regions in Oregon and some regions of SW Washington. The NWMLS is the most prominent MLS for much of Washington.