What is the Multiple Listing Service?
The MLS (Multiple Listing Service) is a computerized database which enables realtors to display real property listing information, so that cooperating brokers, as well as the public, can view and evaluate listings.
What is flat fee MLS?
Flat fee MLS is a term used to describe a practice in which realtors place pertinent information about a property for sale into the database of the local Multiple Listing Service (MLS) for flat fee as opposed to a commission based on the contract selling price. All the benefits associated with an MLS listing will be realized at a fraction of the cost. No additional listing fees will be required to set up your listing.
How does Tennessee Flat Fee MLS work?
The flat fee that you pay replaces the much higher listing fee, usually 2.5% to 3.5% of the sales price, that you otherwise would pay if you were using a full service Listing Broker. As a result, you will not pay additional listing fees that are typically based on the contract selling price.
How do Agents/Buyers contact me?
Buyers/Agents contact the Seller directly to set up showings. The Seller’s contact information is placed in the “Showing Instructions” of the MLS for Buyer’s Agents to see. However, it is a violation of the MLS for a Seller’s contact information to be placed in the Public Remarks section or on Partner MLS Websites. If a Buyer/Agent calls Listing office, we tell them the Seller is responsible for setting up showings, and we give them the contact information. So, all calls are directed to the Seller. Any emails inquiries are forwarded to the Seller.
Are there any other fees to list?
We DO NOT charge additional fees at closing with our TN Listings. If you are still shopping, please be on the lookout for other flat fee MLS companies that charge additional fees (including hidden charges) at closing. This raises the cost of doing business for consumers, and we consider it a deceptive business practice when not disclosed properly. If you have any questions regarding this, please contact us for an explanation.