FREQUENTLY ASKED QUESTIONS
1. What is MLS?
MLS, also known as The Multiple Listing Service, is the most comprehensive real estate database in New England. MLS services are used by more than 30,000 real estate brokers and agents throughout the region, and thousands more throughout the country.
Brokers and agents use MLS as their main resource to find homes, businesses, or land for their clients. MLS is fully computerized and available online, which allows brokers and agents to search anytime, anywhere to find compatible options for their clients. When we enter your listing, it will be available immediately to thousands of brokers and agents throughout the country. Additionally, FlatFeeNation will enter your listing on Realtor® and many other national websites navigated by brokers, agents and everyday consumers.
2. Why Use MLS?
MLS is a proven service that helps owners sell or lease their homes and property. As the main resource to find home and properties, thousands of agents and brokers will use MLS to search for properties for their clients. There are no other databases or websites used by realtors more frequently than MLS.
3. Why FlatFeeNation?
The median home sales price is decreasing in markets all over the country, making it difficult for home owners to maximize their profits when selling their home through a traditional listing agreement. Instead of paying the customary 5% - 7% commission on your selling price, you can save by paying a one-time flat fee and having your FSBO property listed on MLS, Realtor.com and numerous other national websites. With our listing agreement you have the flexibility to make changes or cancel anytime. All of our service packages include all the resources and tools to help correctly price your home and attract the largest number of buyers.
FlatFeeNation is also a valuable resource for investors and FSBO buyers. FFN provides buyers with access to FSBO properties across the U.S. As an added bonus we will provide you with insider tips including professional insight on the top growing real estate markets and how to negotiate the best purchase price. If you are interested in buying and have no time to search, we offer an exclusive flat fee Buyers' Package with the option of receiving cash back at the closing. Our experienced staff will help you with every step of the process from searching for your ideal property to negotiating the best price.
FlatFeeNation has combined technology and superior customer service to become the leader in flat fee services. We offer 24-hour live support, which allows you to reach a Customer Service Representative at any time to answer your questions. Once we have your property description, our Technology Consultants will begin programming your listing into major real estate websites, which then syndicate into a network of numerous other sites. If you ever decide to change any aspect of your listing, you can simply call in or email us your requested change to changes@FlatFeeNation.com, and your changes will be made within one business day.
FlatFeeNation will empower you with all the tools and resources to sell or buy your FSBO property. Sign Up Now with our easy 4-step process or call our toll free number and speak to a customer service representative.
4. How long will it take for my home to be listed on MLS and other sites?
Your property will be listed on MLS as soon as we receive all of your information, including: Disclosure Form, Listing Agreement, MLS Input Forms (all forms can be downloaded from our site), photos, and the one time only flat fee. You can submit your information online, or via fax or mail.
Upon receipt of all the required forms for your region, your listing will be entered into the appropriate MLS within 5-7 business days. FlatFeeNation does not directly control the entering of the listing onto Realtor.com®; therefore an additional time period may be needed for the listing to be appear on Realtor.com®. FlatFeeNation is not responsible for any additional time that is needed for the listing to appear on Realtor.com®, therefore any cancellations due to circumstances beyond FlatFeeNation's control will result in a $200.00 administration fee and the difference will be refunded within a reasonable amount of time. Additionally your listing will be entered into our network of real estate websites within a reasonable amount of time. FlatFeeNation is not responsible for the discontinuance of the listing on any website that is in our network other than MLS.
5. What is FSBO?
For Sale By Owner (FSBO) is a term that describes a piece of real property that has been offered for sale directly by its owner. The owner has not solicited the help of a real estate broker, implying that no real estate commission is associated with the sale of the property. In recent years, the term has been used more broadly to describe the process of marketing, buying, and selling of real property without the representation of a real estate broker. Many sellers who choose to sell via FSBO do so to avoid paying a commission to a broker, typically 6% of the selling price of the property in many parts of the US (Birger 2005). Commissions can range between 5% and 7% in different markets across the U.S. as well as in Canada.
According to a press release by the National Association of Realtors (NAR) regarding their most current annual survey of real estate consumers: 2005 National Association of Realtors® Profile of Home Buyers and Sellers (NAR 2006): 13% of 2005 US real estate transactions took place via FSBO (down from 14% in 2004). The record percentage of US real estate transactions (since tracking started in 1981) of 20% took place in 1987.
6. Will my direct contact information be shown on MLS or Realtor®?
IT DEPENDS; some MLS network do not allow your direct contact information on the listing or Realtor®. If the MLS and Realtor® rules and regulations for your region prohibit brokers from entering the Owners'/Sellers' contact information on their site. Brokers and agents will contact FlatFeeNation representatives by phone or online where we will provide them with your contact information. Brokers and agents will ALWAYS be able to access your contact information. If MLS allows the Owner/Seller's contact information to be listed then as a default, unless otherwise directed, FFN will place the Owner/Seller contact information on the listing. Depending on your preferences, your contact information may be made available on the various other listing sites within the FFN network.
7. Will Agents still show my property to Buyers?
Yes. Interested Buyers' Agents will continually contact you to schedule showings. In many instances, buyers without agents will contact you directly to see your property. Since you are purchasing a listing only entry, your home will not be shown by FlatFeeNation.
8. Will I ever have to pay a commission to FlatFeeNation?
No. Since we are only working as a Facilitator and not a Seller’s Agent you will never have to pay any amount more than your one time only fee. Your only commission will be paid to a buyer’s agent.
9. How do I make changes or revisions to my listing?
To change your current listing, contact us at 1-800-749-5181, and a customer representative will input your information into our database, where our technology consultants will make the necessary changes within one business day. Feel free to also email us at changes@FlatFeeNation.com from the same address that you provided with your listing information.
10. Will my listing be different from those listings where the owner paid a full commission?
No. Your listing will look exactly the same as any listing paid for by commission. There will be no information contained in the listing that will inform users of how much you paid to get your property on MLS. Additionally, the listing will show the name of a listing broker and not FlatFeeNation. The broker will vary depending on which state your property is located in. There will be no way to tell that your property was listed with a flat fee service.
11. How much will it cost me to use FlatFeeNation?
Your total cost will vary depending on your property type and if you choose to purchase any additional resources or services. We guarantee that no matter what type of property you are selling, you will only have to pay a ONE-TIME ONLY FLAT FEE to have it listed on MLS.
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