How does the flat fee mls listing service work?

As a New York for-sale-by-owner you now have the option of getting your property (home, condo, townhouse, land or rental) listed in the New York Multiple Listing Service (MLS) by a licensed real estate broker for a small flat fee.

Please note that the only way to get your property listed in the MLS is by a licensed real estate broker. You cannot list a property in the MLS yourself.

As a for-sale-by-owner you have the right to sell your own home, even while listed in the MLS. New York home sellers pay no commission if sold "by owner" without the aide of a realtor.

If your home sells thru a real estate agent, you only pay that agent a commission upon successfully closing of your property. Remember you only pay a commission to the agent that brings your buyer. The agent that lists the property in MLS does it for the small flat fee of $297.00. There are no additional charges or hidden fee associated with the service.

You are getting the same benefit as listing with a full service realtor at a traditional 6% commission. However, you are only paying half that commission, plus a flat fee upfront to get listed in the MLS.

When a realtor calls you for a showing and brings a potential buyer, you will know that buyer has already been pre-qualified for a mortgage loan. Realtors do not show homes to buyers until they show proof they have been pre-qualified for a mortgage loan.

Plus the potential fear factor of letting strangers into your home to show your own property as a "for-sale-by-owner" is diminished. You have peace of mind when a realtor calls you for a showing and has identification to prove he's a realtor, and you also know the realtor found your property in the MLS.

The flat fee mls listing service is the only way to sell your property.

The Multiple Listing Service (MLS) is the key to Home-Sales Success. The MLS lists the vast majority of real estate listings which are listed "for sale" by real estate brokers and their agents. All types of real estate property is listed in the real estate multiple listing service; houses, townhomes, condominiums, commercial property, lots, acreage and even rental properties. There are hundreds of local Multiple Listing Services located thruout the nation. Real Estate Associations in all 50 US states run their own MLS Systems. Statistics show that homes listed on the MLS sell faster.

Plus your home will also appear on Realtor.com and many other local and internet websites as listed below:

You only pay a commission to any agent that brings you a buyer for your home at closing. Your savings add up to $1,000s.

• For example a home that sold for $500,000 - listed with a traditional 6% commission agent costs your $30,000 at closing

• With the flat fee mls listing service method, a home that sold for $500,000 - listed with a flat fee broker will cost you 1/2 of that or $15,000 at closing, plus the upfront flat fee of $297.00.

"The MLS" is the secret to success of real estate sales, directly responsible for about 4 of 5 sales nationwide. About 85% of home buyers use a REALTOR® to help them locate a property. When a possible buyer contacts a Real Estate Agent regarding a home purchase, the Agent will search the MLS for homes matching the buyers' desires, wants and needs. Statistics show that homes listed on the MLS sell faster.

The Realtor® MLS system will help you to sell your home faster and for top dollar!

By listing your home in the MLS the vast majority of REALTORS® will become aware that your property is available as well as its price and features. The MLS is the key to a successful sale and enables you to have maximum exposure. It is simply the greatest marketing tool ever invented for selling your home.

Important information about your property is listed on the MLS. This information includes general data such as square footage and number of rooms, to such details as whether you have central air conditioning or hard wood flooring. There is also a photo taken and a description of what makes your house "special."

Real Estate Agents search the database for homes that fit the price range and needs of their clients. They pay special attention to homes that have been recently placed on the market, which is one reason you get a lot of attention when your house is first listed.

The main point about having your house listed in the MLS is that you expand your sales force by the number of area MLS members. Instead of having just one agent working for you, now you may have hundreds or even thousands, depending on the your area.

The Power of the Multiple Listing Service (MLS)

The "MLS" really is how real estate is bought and sold. Since the "MLS" does have a large impact on the sale of your home, I will explain how it works.

The local Realtors® Association is a part of the National Association of Realtors® and is an organized entity designed to help real estate agents from many different companies cooperate with each other, establish guidelines for service and ethical issues, and strive to make the real estate community more professional. It also oversees the "MLS" computer system - the source agents turn to first to find properties for their buyers.

It is through the "MLS" that most of the residential real estate deals are brought together. As realty professionals, Realtors have all agreed to exchange information about properties for sale in order to help sell homes for the best price possible in the least amount of time. Realtors pay an annual fee to the Realtors® Association for the right to publish information about your home in the computer system.

The most important work Realtors do to market your home to other Realtors® on the "MLS" is to offer detailed listing information and a photo of your home.

The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other effective way to sell your property and be successful.