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  FAQ's - Frequently Asked Questions | SaveOnMLS.com
MLS Listing - Frequently Asked Questions
01. What Is The Flat Fee MLS Listing Program or Flat Rate MLS Listing?
02. What will I receive for a Flat Fee of $399?
03. What is the difference between a traditional full service broker and your MLS Listing foe a Flat Fee ?
04. What is the MLS and who owns it?
05. What is the "Buyers Agent" commission and how much should I offer?
06. Can I list on MLS with no commission for buyer broker?
07. Can I still sell my home "by owner" while it is listed on the MLS?
08. Is this the same MLS other real estate agents use?
09. Will the MLS really help me sell my home?
10. Will my home get exposure on the Internet?
11. Will my listing look the same as other listings?
12. What if I have a question during the listing period or want to change some information in the listing?
13. Should I hire an attorney to help me negotiate my home sale contract, handle my closing, and advise me of any laws and/or regulations with which I need to comply in showing and selling my home?
14. Why not just advertise my home "For Sale by Owner" in the newspaper, and forget the MLS listing?
15. May I still advertise my home for sale in the newspaper and other advertising venues in addition to having SaveOnMLS affiliated Realtors list my home for sale on the MLS?
16. Why do realtors use the MLS instead of other databases--for example the many internet sites that list homes for sale?
17. Who determines the amount of compensation that will be paid to a buyer's realtor, if the buyer who purchases my home is represented by a realtor?
18. Who pays the buyer's realtor?
19. What kind of agreement do I sign with your affiliate Realtor?
20. What if I want to change my asking price or any other listing information during the listing period?
21. If I want to hold an

 house for buyers or broker tour, will SaveOnMLS's affiliated Realtor assist me?

22. Can SaveOnMLS's affiliated Realtor provide me a combination lock box in which I can put a key to my home so that realtors to whom I give authorization can show buyers my home when I am unable to be there?
23. Exactly how does the lock box work? How does the real-estate agent get the code or password to open the box?
24. Can put up a virtual tour of our home?
25. Can SaveOnMLS's affiliated Realtor provide me a yard sign?
26. What if my needs change and I want to terminate my listing?
27. Who's telephone number is used for contact information on the MLS?
28. How can I pay for the listing?
29. Where do I send the photo of my house? How do I make changes to my listing once it's live.?
30. How long is the MLS listing for?
31. Are there any hidden Fees?
32. What Forms do I need to sell my house?
33. How soon does the MLS Listing go Live?
34. How long does the Listing stay on the MLS?
35. How long does the Listing stay on the MLS?
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01. What Is The Flat Fee MLS Listing Program?

A traditional real estate company wants you to sign a contract that pays them a commission of up to 6% of your homes selling price. In return they agree to place your home in the MLS, hold open houses, schedule showings and help with the contract negotiation process. The Listing agent usually splits (Co-Ops) the commission 50/50 with the Buyer's agent.

Listing with a traditional real estate company rarely helps you sell your home any faster. Did you know that less then 5% of all listings are actually sold by the Listing agent. It's a combination of proper pricing and sufficient exposure that will sell your home. The MLS provides the necessary exposure to sell your home quickly and for the most money.

With our Flat Rate MLS Listing program and guidance, you (the seller) can cut their total commission in half by doing most of the work traditionally done by the Listing agent. All you (the seller) pays is the Buyer's agent portion of the commission at closing (typically 2%-3%). The seller may also advertise the property themselves, and if a buyer is procured by those efforts, NO commission is paid if the buyer has no broker representing him. Thats's right! Pay NO Commission if you procure the Buyer. So think of this as another marketing avenue which bring thousands of qualified buyers.

Not only will your property be listed on the MLS, but it will also appear on websites linked to the MLS database such as Realtor.com, Homeadvisor.com, and other local MLS partner real estate company sites. For example Illinois Listings include: ChicagoTribune.com (over a $100 value). 

This Flat Rate MLS Listing program works for home sellers. We have sold hundreds of homes. If you want to save thousands in commissions, you are willing to do the showings - this service is right for you. Sign up today and let the MLS bring qualified buyers directly to you

Within 24 business hours of your completed paperwork the affiliate local  Realtors will enter the listing on MLS and also send you a copy of your MLS listing.

Within a two-three days or so of that you will also be able to see your listing on your local MLS's affiliated sites including Realtor.com etc. Thousands of Realtors will have access to the listing as soon as your local realtor enter it in the MLS system.

SAVEONMLS MLS LISTING SERVICE FACTS:

  • Duration: Our MLS Listings are for at least 6 months. You can cancel at anytime.

  • How Soon: MLS Listing typically goes Live within 24 hours of receipt of complete information by the assigned local flat fee listing agent.

  • Our Guarantee: The MLS Listing is guaranteed to be on the correct MLS system for your area or your Money Back. We offer a 100% money back Guarantee, should you not proceed with your MLS Listing for some reason - like you sold your home before submitting the MLS listing paperwork.

  • How do Agents with Buyers know to contact me: Typically* in the MLS Listing Agents are instructed to contact you directly for showings. Your contact information is placed in the showing instructions where allowed

  • NO Hidden Fees. It's just a Flat Rate to list it.

  • Yard Sign. We provide a FREE Professional Quality
    "FOR SALE" YARD SIGN, you only pay for shipping. Please see picture of sign below or click here

  • Required Paperwork: Your assigned agent is happy to provide you required disclosures and other paperwork

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02. What will I receive for a Flat Fee of $399?

  1. A listing on the Multiple Listing Service (the "MLS"). Your listing will be posted to the MLS typically within 24 business hours of paperwork submission. Yes this listing is the same as the one a local Realtor in your area will do. Also, you reserve the right to cancel the listing at any time. 
  2. Free web exposure. Within 2-5 days of being listed on the MLS, your property will appear on thousands of popular real estate web sites such as Realtor.com*, Homeadvisor.com, Yahoo real estate etc.
  3. 1 Color Photo on the MLS Listing + 1 on Realtor.com*.  Most Local boards will allow more than 1 pictures upto 6 in some cases.
  4. A Sales Preparation package that includes - required disclosure forms will be provided by your Realtor**.
  5. For SALE Sign - One Yard Sign which is Realtor friendly!
    Sign may vary by State and Local regulation requirement compliance..
  6. Contact us anytime with your questions.

 *Listing on all public MLS affiliated sites is subject to local MLS limitations. * The MLS Listing are for at least 6 months (longer terms available in some states)
** Signs and Forms packages vary by State & Broker.

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03. What is the difference between a traditional full service broker and your Flat Fee MLS Listing service?

A full service broker will help you determine a selling price, list your home on the MLS, schedule showing appointments and negotiate the sales contract on your behalf. For these services you pay a hefty listing fee of 2.5%-3% of the selling price (this is in addition to the 2.5%-3% you will be required to pay the Buyer's Agent). That's a total of 5%-6% in commissions! We offer you a way to list your property on the same MLS for a flat listing fee of only $399. In exchange, you assume some of the duties traditionally performed by the Listing Agent - including showing the property. You pay only the Buyers Agent portion of the commission at closing. If you find the buyer yourself, you pay NO commission.

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04. What is the MLS and who owns it?

In most areas, the MLS is a corporation owned/controlled by the local association of Realtors. To input listings, you must be a licensed Broker/Agent and a member of the local association of Realtors (we and/or our local affiliates hold this membership in most areas). MLS Members cooperate by showing and selling the homes listed by other members, for which they receive a commission for bringing the buyer to the seller. The commission amount offered to the agent who brings the buyer is almost always listed (usually required by the MLS) along with the detailed information about the home and picture(s).

The MLS is the primary tool agents use to find a property when they have a buyer. Over 80% of buyers use agents to help them find properties (especially the most motivated buyers: relocations, pre-approved, etc.). For most agents, the MLS is the tool used every day to find a home for their buyers (for many agents, it is the only tool they use to find homes.) The MLS is not available to the public, only MLS Members can view the MLS listings. In recent years, most MLS systems have distributed some listing information to websites like Realtor.com and allowed MLS members to show some listing information on their own websites.

Our service enables you to get the best of both worlds: get MLS exposure to buyers and pay a commission only if you accept an offer from a buyer involved with an agent. Our average customer walks away from closing with a check that is $8,000 or higher than using a traditional agent.

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05. What is the "Buyers Agent" commission and how much should I offer?

The Buyer's Agent commission is the amount you are willing to pay a real estate agent that brings you a qualified buyer. This amount is determined by you at the time of the listing and is paid to the Buyer's Agent at closing. This amount should be competitive with other listings in your area if you want to take full advantage of the MLS. These commissions typically range from 2.0% - 3.5% of the selling price.

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06. Can I list on MLS with no commission for buyer broker?

All MLS listing programs require the offering of a commission if a real estate licensee finds you a buyer. If you find a buyer without a real estate licensee, you will owe NO commission. The amount of commission is determined by you - the seller. Typical commissions for buyers brokers range between 2.0% - 3.5% of the selling price.

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07. Can I still sell my home "by owner" while it is listed on the MLS?

Yes. We do not take away your right to sell the property yourself. If you find a buyer on your own, you pay absolutely NO commission (because the buyer comes directly without a broker). Please review your final MLS listing agreement for any limitations. Some MLS boards have special requirements/rules.

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08. Is this the same MLS other real estate agents throughout the country use?

YES! Absolutely. Each area in the country has a specific MLS that they use in the area. Our local Flat Fee Listing Realtor can provide you with more details of coverage in your area. Your listing will absolutely go on the correct MLS board for your area. We guarantee it!. Yes it is the place where any other Realtor in your are will list the property on. We offer a 100% money back guarantee if the listing is NOT on the correct MLS board.

For example, in the greater Chicago area, The Multiple Listing Service of Nothern Illinois (the "MLS") is the largest and most widely used database in Chicago and the surrounding suburbs. So if your property is in the greater Chicago area, this is where we would list your home. Your local Flat Fee Listing Realtor can provide you with more details of coverage in your area. Your MLS Listing is guaranteed to go on the appropriate MLS system for your property or your Money back. 100% Guarantee

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09. Will the MLS really help me sell my home?

Definitely. To sell your home you have to let people know it's on the market. The MLS gives you exposure to the hundreds of thousands real estate agents nationwide and the buyers they represent. The fact is over 80% of buyers use a real estate agent when looking for a home, real estate agents use the MLS. It's that simple.

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10. Will my home get exposure on the Internet?

Yes. Your home will appear on several popular real estate web sites linked directly to the MLS free of charge. These sites include realtor.com,  homeadvisor.com and other local newspaper  websites like chicagotribune.com (over $100 value) subject to availability. 

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11. Will my listing look the same as other listings?

The format is standard for all MLS listings.

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12. What if I have a question during the listing period or want to change some information in the listing?

Please contact your listing broker directly with any questions as they will be familiar with your listing.  If you want to change some information in your listing (i.e. price, description, etc.) simply send your listing broker any changes via email (or fax) with your MLS# and they will make the change - typically within 24 hours. 

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13. Should I hire an attorney to help me negotiate my home sale contract, handle my closing, and advise me of any laws and/or regulations with which I need to comply in showing and selling my home?

Yes. Please remember that neither we or your Local Flat Fee Realtor is an attorney. None of us can offer legal advice. We recommend that you hire an attorney earlier in the home selling process rather than later or not at all. Since most people hire an attorney to review their sale contract and handle their closing, it makes sense to seek legal advice right from the start. Because most attorneys charge a flat fee for home sale contract review and closing related work, this should not require any extra legal fees. Please also note that your assigned agent is happy to provide additional help as required for an additional fee.

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14. Why not just advertise my home "For Sale by Owner" in the newspaper, and forget the MLS listing?

Most people responding to newspaper ads are not yet really serious about buying a home. They are still in the dreaming or just kicking the tires stage of home buying. Once a buyer gets serious, over 80% of the time he or she will hire a realtor, and that realtor will show the buyer homes that are listed on the MLS.

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15. May I still advertise my home for sale in the newspaper and other advertising venues in addition to having SaveOnMLS affiliated Realtors list my home for sale on the MLS?

Yes. However, if you want listing agents to stop calling you in an attempt to get your listing, any such ad should include your broker's name.

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16. Why do realtors use the MLS instead of other databases--for example the many internet sites that list homes for sale?

Each home listed on the MLS must include in the listing the compensation amount the seller is offering to any realtor who produces the buyer. By using the MLS, realtors therefore are able to know upfront not only which home sellers will compensate them, but how much they will compensate them in the case of a sale.

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17. Who determines the amount of compensation that will be paid to a buyer's realtor, if the buyer who purchases my home is represented by a realtor?

The compensation to be paid to the buyer's realtor, if the buyer is represented, is determined by you, the seller, and offered by our affiliates on your behalf in the MLS listing.

If you hired a traditional realtor, as opposed to one from our service, that realtor's exclusive listing contract with you might, for example, obligate you to pay him or her a commission of 5% to 7%* of the sale price of your home. The traditional realtor would then offer a buyer's realtor a portion of that commission, on your behalf, in the realtor MLS listing. A recent search of the MLS indicated that most sellers offer between 2.5% to 3% of the sale price to buyers' realtors.

* Because realtor commissions are determined independently, these commission percentages are just estimates offered to help you calculate your savings.

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18. Who pays the buyer's realtor?

You (the home seller) does, at closing.

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19. What kind of agreement do I sign with your affiliate Realtor?

Your agreement with your local realtor is typically non-exclusive. This means that not only may you terminate your listing at any time, but you may also work with other realtors if such realtors do not require an exclusive listing. Please see the listing agreement provided by your local realtor for details. It is our agents policy not to solicit clients who are already represented by another realtor.

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20. What if I want to change my asking price or any other listing information during the listing period?

You simply need to communicate your change requests to your local listing realtor via fax or email, please be sure to include your MLS Listing number. Price Changes: Most Realtors require that all Price Changes be made in writing and be faxed/mailed to them for your protection. Please Fax Requests to your assigned realtor. 

You are required to inform your listing broker within 24 hours of certain events (e.g. the asking price has changed, a contract for sale is pending, or a closing has been executed). Please see your listing agreement provided by your local realtor for details.

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21. If I want to hold an open house for buyers or broker tour, will SaveOnMLS's you assist me?

Yes, to the extent that we will advertise your open house or broker tour by adding it to your MLS listing. It is your responsibility to actually conduct the open houses and/or broker tours.

To schedule an open house or broker tour, by the end of the day the Wednesday before the weekend you are planning the open house (or the week before the broker tour) fax or email your assigned agent with your open house or broker tour request. Open House availability and timing is subject to MLS rules and local agent policies.

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22. Can SaveOnMLS provide me a combination lock box in which I can put a key to my home so that realtors to whom I give authorization can show buyers my home when I am unable to be there?

Yes. For an additional fee of $75 (Combination) your local realtor will provide you such a lock box. 

Electronic SUPRA Boxes also available for $250 and is subject to local availability. For Further instructions on installing the Electronic Supra Lock Box click here

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23. Exactly how does the lock box work? How does the real-estate agent get the code or password to open the box?

Let the agent that calls you know where the lockbox will be (recommended to be on the front door) and combination for their files. Generally, agents will call you, request a showing at a certain time and date. You should write down their name, company, and office phone number. Then call them back, verify it is a real estate office and they are a licensed agent, then leave them a message with the lockbox combination (assuming the time and date is ok with you).

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24. Can you put up a virtual tour of our home?

Yes. typically  for an additional fee of about $100, your local realtor will coordinate getting a virtual tour produced and put online with your listing. For an additional $30-$50 the tour will also be placed on Realtor.com.

Please note that fees vary by agent and state and are payable to the agent or a third party. Please check with your assigned agent once they contact you or email us for details.

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25. Can SaveOnMLS provide me a yard sign?

Yes. All our listings include a Realtor Friendly Yard sign with a place to put your own contact information.

Free! Professional Quality Yard Sign with Stake
SaveOnMLS - For Sale Yard Sign
$50 Value!  Don't get caught with a cheap "FOR SALE BY OWNER" sign.

This 24x18" Yard Sign welcomes Realtor's, assures them that this is on the MLS and has room for your own contact number. Everything you want in a MLS Listed For Sale Sign

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26. What if my needs change and I want to terminate my listing? or make any changes to my listing.

You may terminate your listing at any time if you communicate your termination request to your listing realtor in writing (of fax). Please see you listing agreement for details. All price changes need to be in writing and need to be faxed to your listing broker. To make other changes in your listing please email your listing broker with your MLS # and the changes you'd like. 

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27. Who's telephone number is used for contact information on the MLS?

Typically* in the MLS Showing instructions field, all agents with buyers are instructed to contact you directly. 

*If permitted by the rules and regulations of the individual MLS boards, your name and phone number will go in the MLS as the owner and/or contact. Some MLS board require a Realtor number.

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28. How can I pay for the listing?

You can pay online or via the phone with a credit card online 

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29. Where do I send the photo of my house? How do I make changes to my MLS listing once it's live?

Please email photos to the assigned local realtor. Your assigned agent is responsible for all changes.

30. How longs is it listed on the MLS?

MLS Listings are for atleast 6 months or Longer in some states. IL, CT, WA and OR we offer terms of 1 year+  if you like. 

6 months is usually more than adequate, most home will sell within the first two and a half months. 

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31. Are there any Hidden Fees?

There are NO hidden Fees payable to the agent.

Fees for any additional services that you ask for - for instance help with negotiations etc are disclosed to you in the listing paperwork that your local listing agent will provide for you. Please review the paperwork any of our flat fee agents provide for your satisfaction.

Remember if you don't like the paperwork and don't want to proceed with the listing have a 100% money back guarantee.

Some state's have mandatory fees that are payable by all sellers to the MLS boards at the time of sale. For instance - Georgia homeowners may owe 0.12% of the sales price at close of escrow in Georgia. They will receive further explanation by their broker.

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32. What Forms do I need to sell my house?

Our brokers are able to provide most forms you will need to sell your house. Some forms might require the help of an attorney. To read more about the 6 forms that are typically used please click here: 6 Forms You’ll Need to Sell Your Home

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33. How soon does the listing go live on the MLS?

Your listing typically goes live within 24 hours of receipt of complete information.

Once your order it received it is assigned to one of our local licensed agents who is a member of your Local MLS board and acts as your flat fee local agent. He/She will email you and/ or call you to introduce himself and provide all forms etc that you might need. Once he receives all the property information back he will enter the listing on the MLS and send you a copy of the Listing. Listings go live instantly once the assigned flat fee listing agent enters them in the MLS. Thousands of Realtors can then see the listing . It also feeds to other MLS linked websites within the next few days, including for example Realtor.com.

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34. How long does the Listing stay on the MLS?

The MLS Listing are for a period of typically 6 months. You can cancel at any time. 6 months is adequate for 95% of our sellers as the typical home listed by our agents sells in about 2 1/2 months. In some states our agents will allow you to list for a longer period upfront. However, almost all our customer prefer 6 months. Renewals if necessary are typically available for $200.

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35. How do I post my picture to the MLS. Who takes the picture?

The Digital photo for the MLS Listing are provided by you. The picture can be emailed to the assigned agent who will submit it to the MLS board. Additional instructions will be provided by the local broker.

If you need help taking the pictures, the broker can assign an independent photographer who will typically charge a service fee to do the same on your behalf. 95% of our customers prefer to take picture with their digital cameras email them to the agent. Other scan printed pictures (for eg at Kinkos) or use an assigned photographer.

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