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.
3Diamonds
asked:
"I want to know if there is a site or service that I pay one fee that advertises my listings all over the web? I am a real estate agent. Thanks!!I am also thinking of starting a better website or somehow getting my site all over the web. I already have a domain name for it, any advice?? Thanks!"
Question posted courtesy of:
comps replied:
"Write articles about your website or ideas.Submit your website for users to review, free!Post Free Classifieds.Go to Famous Pages"
vijay replied:
"You should atleast have a website to promote your stuff.If you're in a hurry or low budget, try to use BLOGGER.It's free. So add up the contents with what you want to say and promote it.There are plenty of ways to promote your site.1)Article MarketingReally a powerful method in getting audience. Write a good article based on your niche topic and submit it in article directories. Just go to google or yahoo and search for "free article directories". It will suggest you a host of directories that you can easily submit your writings. When people surf in that certain directory, they might stumble into your article and you got all the fame needed to be successful in Internet Marketing.2)BloggingThis method is just like the article writing. You write what you want but good contents for your audience in blogs. The better you got, the more audience you get. You can also submit the same contents that you wrote in blogs in article directories. You get instant viewers if your article is in top 10 within your niche3)Offer free stuffsIt's always good to get free stuffs. Everyone likes it.So offer some free stuffs such as e-books or software for your audience. You will get a good, loyal and repeating audience. If you are looking for FREE e-books to market it in your site, check out this link..... provides a host of e-books on internet marketing. The e-books will be updated weekly. So hurry up and get your best one soon.4)E-mail MarketingIt's as easy as ABC. Just promote your site to all your online contacts using e-mail.Write a good email that will attract your audience. If you got the contents right and able to convince your contacts , you are on your way to success.5)SEO-Search Engine OptimizationCheck out for HOT tips on SEO6)You Tube VideosUse free videos from you tube and paste the links in your site. People like video tutorials better than articles or e-books.7)Google AdsenseI strongly suggest you to visit.... and learn about google adsense.If it's not the best, atleast one of the best income generator for your websites. Visit the link and watch the video tutorials for FREE."
Cody
asked:
"I'm starting a classified ads website and i'm wondering if I can add listings that local real estate companies have listed on there website to my "real estate" portion of my local classified ads website?I'm planning on putting all the information up on who to contact in regards to the listing."
Question posted courtesy of:
Landlord replied:
"I would think if you had permission from the companies as well as whatever source you are using to obtain the information. Stealing content from another web site would be illegal."
Patriotic Mom replied:
"If the Realtor has an Exclusive Right to Sell Contract with the seller, hands off. You may want to approach the Brokers in your area to see if that would be something that they are interested in. The agent will have rules set by the broker as to where they are allowed to advertise. Good luck with your site. Sounds like a smart thing!Edit***It is totally NOT crap. The exclusive right to sell IS between the Broker and the seller. That is why I said to approach the Broker. However, the contract may or may not spell out exactly where and when and which photos, etc are allowed to be placed. For example, I have sellers who have not wanted to have a sign in the yard, don't want interior photos, don't want to use certain advertising avenues, etc. The questioner could find himself in a bad spot if he doesn't have this OK'd."
DannoREA replied:
"If you're doing it for free, I can't imagine them having a problem so long as you faithfully re-create the listing and list their contact info.About the exclusive right to sell and advertising location posted by a previous answerer - that's crap. Sine you're not trying to function as a listing agent, there's no harm no foul. Besides, plenty of the brokerages in my area have placed my listings on their website "Courtesy of My Broker". As long as everyone involved is on the same page, you're fine. Remember that the agent works as a representative of the broker. If the broker agrees to the advertising of the listings, then you don't need the agent's permission!As far as location goes, I can advertise anywhere I think I'll get business."
ThePadBuyer.com replied:
"What is the purpose of your Classified Ads Site (or any classified ad site)? Ad revenue... As long as you are not looking for a piece of the commission then most Realtors are not going to have a problem with your site. If you are, and are not a broker or Realtor - you will most likely run into legal problems in every state, unless you can convince the owner to de-list with their current Realtor (then you will just get everyone angry). Will you need permission? I would ask -- let them know that they are getting free advertising off of your site (remember - no commissions). You want to drive traffic not bad feelings. You might do a couple for display purposes only and email them so they can review. I would market the site to both Realtors and owners as a free (for now) service. Also, just expect that unless you are going to help them get those listing onto the site - they will probably not do it themselves. I look at craigslist all of the time for property and very few Realtors are using that free resource - and it has tons of traffic."
Irene
asked:
"I have about 15 active listings on the market right now. As a real estate agent I am always looking for new ways to advertise them. I need to bring some buyers to my listings!!"
Question posted courtesy of:
Internet Fun replied:
"Classfied ADs"
loved? replied:
"Craiglist! I use to do it for real estate agents they got places sold FAST"
NYmortgageman replied:
"online virtual toursadvertise your open houses with lots of balloons all around the neighborhood the week beforeMLSFirst time home buyer convention/seminarand my favorite: word of mouth"
Jason B replied:
"NO MONEY DOWN. Having an arsenal of mortgage programs to work with will enhance your ability to increase your potential sales. No Money Down is a way to attract the first time home buyer with ways to buy a house. Have all the tools you need to qualify every borrower for a loan. Senior loan officer all 50 states all programs 800-937-2350 Jason B."
Dawni Do Right replied:
"2 cool & FREE sites:zillow.com you can sign up for a free agent account & claim your seller's homes & upload tons of photos & additional info.Postlets.com you enter info on your listings & upload 6 photos. It then creates an e-flyer & posts it to 12 or so real estate classified websites like Kijiji, BackPage, LiveDeal...PLUS it gives the the html code for posting the spanky looking e-flyer on CraigsList.Here's one of my Postlets:(This is exactly how the ad will look on CraigsList)Here's a Postlets Plus ($5 upgrade):I use both of these for all our listings.Buyers? Nehemiah & AmeriDream are still zero down programs. If you are working with a lender, you could get them to work up some financing scenarios for you & promote this. Down side is your going to get a bunch of buyers that don't have any money. Lender could also work up some minimum down scenarios for you."
justinu84
asked:
"I'm in real estate and need a really good virtual tour service to use for my listings. I have used Justsnopping in the past but now that I have left Keller Williams I no longer get that service for free. Anybody have some ideas?"
Question posted courtesy of:
Real Estate Guy replied:
"www.circlepix.comor"
Dawni Do Right replied:
"We use VirtualTour.comYou take your own photos then their software morphs them into panoramics. You then upload them to their site, enter property data & then they provide you with the links for branded & non-branded (for MLS) tours.They also submit the property to a bunch of real estate classified sites.I think we pay a flat fee of less than $30 a month for unlimited tours. It's not as nice as the professional Ipix virtual tours but most of our listings are new construction and it's common for us to have 30 or more listings at one time."
Joe
asked:
"Simple question:What does the term MEIK mean in real estate listings?I see this all the time, I just don't know what it means. It has something to do with the kitchen... I think EIK is Eat in Kitchen, but what does the M stand for?"
Question posted courtesy of:
Dusty replied:
"It means Modern Eat in Kitchen. Here is a listing of real estate abbreviations. Scroll down and you'll see the table :)http://www.saintgeorgerealestate.com/buying/guide"
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