What to Expect After You Sign Up for our Flat Fee MLS Service
Your property will be posted in the Multiple Listing Service (MLS) with an Exclusive Representation Listing Agreement. The MLS will not allow multiple brokers to post the same property in the MLS at the same time. Therefore, the seller (you) hereby exclusively lists their property with Flat Fee Discount Realty.
Cooperating brokers have permission and authority to make appointments and ask questions directly with you. Your private contact information will be posted in the MLS for only REALTORS® to view using their password. The MLS and REALTOR.com do not allow private information to be posted on their websites.
The commission percentage that is offered to the buyer’s broker is your decision. MLS system will default this to $1, however, the traditional commission is 3%.
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 owner/seller’s responsibility. 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.
Your listing will stay ACTIVE for up to six months. You may cancel your listing at any time; you will need to EMAIL a request to have the property RELEASED from the MLS.
Comparative Market Analysis (CMA) can be provided upon request. You need to email the city, state and subdivision of your property’s location and an email will be returned with a CMA for that area.
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Flat Fee Discount Realty Does NOT Provide the Following Services
Flat Fee Discount Realty will not answer buyer inquiries or questions regarding your property. We will not schedule showing or inspection appointments; instead, we will redirect those contacts, inquiries and questions directly to you.
We will not attend the final transaction procedure 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 owner/seller in any manner. Flat Fee Discount Realty is your Broker. Please contact Flat Fee Discount Realty for assistance.
It is the owner/seller’s responsibility to contact Flat Fee Discount Realty to update the MLS.
As a client of Flat Fee Discount Realty, you agreed to pay all fines administered by the local MLS for not providing Flat Fee Discount Realty with accurate and up-to-date information regarding your Real Estate transaction. (Please see information below.)
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 owner/seller agrees to these terms and conditions. The Listing Fee is earned when the property is posted in the MLS. Owner/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.
*** VERY IMPORTANT ***
Your Responsibility Once Your Property is SOLD
To avoid MLS fees, you must EMAIL or FAX (281) 971-1243 the information below within 24 hours after signing a Purchase Agreement with a REALTOR® OR an individual buyer(s):
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 pay a specific portion of the Buyer’s closing or any other costs?)
** Listing will be updated as SOLD on the anticipated Closing Date. If the Brokerage is not notified prior to closing date of any changes, there could be a fine imposed by the MLS for changing the status of listing.**