Real Estate

Flat Rate Listing 101 – Get the Facts Before Posting Your Florida FSBO Flat Rate on the MLS!

Who are you going to believe about how the flat rate MLS industry works?

There are four “business models” that offer flat-rate MLS listings in Florida:

1) National website: They are not licensed in Florida, but they charge money and then refer it to a Florida discount real estate broker, who receives a portion of the fees charged. National websites are competent business companies that generally have a real estate broker license in one state, but not all states.

two) Florida Part Time Hobbyist Flat Rate Website: There must be approximately 70 of these “websites” in Florida. They’re licensed real estate brokers doing part-time flat-rate listings or testing the waters to see if they can make a few flat-rate bucks.

3) Florida agent posing as a flat fee: They seem like a flat fee, but their business model is not consumer friendly and I find their business practices questionable. They can or take their leads from Realtor.com and other sources for their own agents; or possibly charge a cancellation fee of up to $ 500; or hold your listing hostage until you pay ($ 500) by only “conditionally” withdrawing your listing from the MLS if you attempt to cancel and switch to a full service agent; Your ad will be stuck in this “conditional” state until you pay the $ 500 ransom.

4) Established, Reliable, Transparent and Paperless Florida Licensed Flat Rate MLS Broker specializing in internet marketing and offering real customer support.
(Note: there are more than one trusted MLS fixed fee firm in Florida, but there are also many firms that fall into categories # 2 and # 3 above.)

The flat rate MLS requires more than simply entering a listing in a local MLS …

1) Florida flat rate MLS sellers are 100% driven by control. They want their MLS listing to be correct at all times.

2) Third party websites like Realtor.com, local MLS systems, and IDX sources from local real estate brokerage firms need to be constantly monitored because listings fall outside of these systems. Technical failures happen frequently.

3) Sellers make adjustments to their listing, such as images, price, commission, and descriptions of their properties. There are required forms, such as mold, lead-based paint, and property disclosures.

4) The Florida Flat Rate MLS Broker is responsible for capturing leads, displaying agent requests, internet marketing, problem solving, customer service, negotiation, editing, and peacemaking. Flat rate MLS brokers need to be prepared to put in their time and energy.

Flat rate MLS brokers should be prepared to put their time and energy into …

1) Taking $ 200 and throwing a listing on the MLS as an afterthought is not what the flat fee should be about. There are more moving parts that make up a “real” flat rate MLS business than you can imagine. For example: Last week, Orlando Regional MLS just took over the Venice Board of Realtors. When they did this conversion, they removed 53 “showcased” properties from Mid-Florida Regional (Orlando area) Realtor.com. It happened on a Thursday night and required the resources of the Mid-Florida Regional Vice President and the Director of Operations and many phone calls to fix the main problem.

2) Amateur or part-time MLS “website” operators may not have the resources or expertise to address these issues.

3) The flat rate MLS broker must be prepared to back the customer with support and market effectively on the internet.

4) If the MLS discount broker asks you to print forms, fill them out and fax them, this means they have not thought of or invested in online automation. This means that the changelog, the edit, the status changes will be faxed this-fax that …. back to the days of the cavemen.

What to consider before including the flat rate

1) If the flat rate MLS “website” does not show the “listing agreement”, it should be a warning.

2) Read the quotation agreement “cover to cover” carefully before giving money to any fixed rate company, be it a national or Florida service.

3) Understand the process and policy for how potential buyers from Realtor.com and other sources reach you, the seller, if at all.

4) Be aware that many calls go to the flat rate broker. Up to 70 calls a day can reach a flat rate MLS broker. Miss one, that could be your sale.

5) Consider and verify what the flat rate MLS service hours are.

6) Flat rate websites that offer only one marketing option are really just a “website”. There are many marketing approaches in addition to a basic MLS listing. What about marketing directly to Realtors®? For example, if a seller wants to offer a 4% buyer’s agent commission, does the flat rate service provide a way to promote this above-average commission? Some flat-rate services offer a real estate agent eblast program that sends around 12,000 emails to all real estate agents in Ft Lauderdale, Miami, Orlando, and Jacksonville every 15 days. This is an effective marketing approach and real estate agents respond.

7) Flat rate sellers should think about the representation of contracts. Flat-rate contract-to-close programs help close the deal faster. Having an experienced real estate professional handle the contract negotiations also results in a smoother transaction for the seller, possibly leading to a higher sale. One of the most complicated parts of the negotiations is the possible subsequent renegotiation after the inspection. Negotiating an inspection report means re-roofing the house because some inspector or Realtor® says the roof is at the end of its “useful” life. It is an art to get the buyer’s agent, the buyer and the seller on the same page. Also, there are some important nuances that help get more Realtor® submissions, such as allowing the flat rate broker to schedule tours (more professional), use an exclusive right of sale (not an exclusive agency listing agreement), and use a professional looking metal. sign.

How to make a list of fixed fees in Florida and stay out of trouble

1) Read the listing agreement.

2) Call the flat rate service and ask how they handle leads.

3) Call and check the hours of operation.

4) Ask if there are penalties or conditions if you cancel the ad.

5) Ask if the publicly traded company will “unconditionally” remove your MLS listing if you decide to cancel and go with a full service agent.

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