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What is Flat Fee MLS?
Simply put: An owner pays a real estate "listing" broker a "flat fee"—a one-time, up-front amount—for placing and servicing the owner's "for sale" or "for rent" property listing on the Multiple Listing Service (MLS).
Paying a Commission
The owner agrees to pay a commission (determined by the owner—let's say 3%) to compensate any member broker of the MLS who brings the owner an acceptable offer on the property. This can be the same broker who was paid the "flat fee" for "listing" the property—the "listing broker", but in reality almost never is. That's because "listing brokers" are busy just working with owners (listing their properties) and "buyer's brokers" concentrate on working with buyers .*
Not Paying a Commission
The flat fee listing agreement, while promising compensation in the form of a commission to a "buyer's broker" who brings the owner an acceptable offer, also contains a provision allowing the owner to find his/her own buyer, sell the property to that buyer, and owe no commission to anyone. The owner thus retains the right to sell the property quasi "For Sale By Owner". No commission is owed when no broker is involved in securing a buyer. |
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HOMESINDEED REAL ESTATE, INC. • BOCA RATON, FL 33433 • PHONE: (888) 696-3383 |
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NoStressMLS Flat Fee MLS & FSBO Florida Discount MLS Listing Service is a division of HomesInDeed Real Estate, a
Florida Real
Estate Corporation, licensed and regulated by the State of Florida to list, advertise and sell real estate in all Florida Counties.
Listing!
