What is the Multiple Listing Service?
The MLS is a collaborative listing service only accessible by licensed real estate agents and brokers to advertise and find available properties for sale or rent. MLS members enter detailed information regarding the property listing into the service’s database, which is then conveyed to all other MLS members. The MLS also distributes listings to third-party real estate websites, such as Zillow and Trulia, making them accessible to the public. All members of the MLS have the right to show/sell advertised properties and are guaranteed a commission so long as they present an offer that results in a successful sale of the advertised property. The vast majority of homes sold through agents are done so through the MLS.
Why would I want my property listed in the MLS?
Since the MLS is only accessible to agents and brokers, buyers are almost always serious about purchasing your home, allowing you to avoid unqualified or illegitimate buyers that would otherwise contact you. Listing your home elsewhere is similar to it not being advertised to realtors and brokers—it essentially isn’t on the market. The MLS is also a huge marketplace with a vast network of realtors who can maximize the publicity of your property and help you find a buyer much quicker. Brokers and agents are also super motivated to sell your property quickly on the MLS because of the compensation they’ll receive.
What is flat fee MLS?
“Flat fee” is a term used when brokers and realtors place pertinent information about a property for sale into the MLS for a fixed dollar amount as opposed to a fee based on a percentage of the final sale.
Are there additional fees?
There are no additional or hidden fees required to list your property on the MLS with List Confidently. However, you may decide to upgrade your services, which comes with additional fees.
Can I list a Commercial Property on the MLS?
Yes, you can. However, the MLS is more suitable for homes and residential listings. Most commercial properties are listed privately or on commercial websites like LoopNet, Co-Star, Lands of America, etc. Some commercial properties are fit to list on the MLS, for example, Multifamily 6 Plex, smaller industrial and retail properties, large tracts of land, and commercial zone land. The MLS is also suitable for office, industrial, and warehouse rentals. For larger properties, we recommend contacting ResCom Realty, a residential-commercial brokerage that we affiliate with. Contact them here at email@example.com.
Will my contact information be displayed?
For buyers to reach out to you about your property, your contact information will be available on the MLS. However, for third-party websites like Realtor.com and Zillow, only the broker’s contact information is displayed. The MLS strictly enforces rules respecting personal information not being transferred to third-party websites.
What happens when a buyer calls about my home?
All buyer leads that you receive will be generated from the MLS, and you may receive calls from agents to schedule showings. If a buyer is not represented by an agent and they express that they wish to be so they can see your home, the listing broker may offer to show your home under a dual agency with disclosure and written permission.
Can I list a property for rent on the MLS?
Yes, you can list your rental property with us on the MLS. Doing so will give your property maximum exposure, and plenty of people who work with agents are looking to rent single-family homes.
Do I have to pay a commision to a buyer agent?
Yes, you do have to pay your buyer agent a commission to list your property on the MLS. Therefore, you must also offer a commission to the agent that is representing the buyer. The MLS is a cooperative compensation agreement for agents to sell your home.
If I find a buyer with no agent do I still pay a commission?
No, you are free to sell your property to any buyer who is not procured or represented by a broker. In which case, you do not owe a broker commission.
Can I cancel my listing at any time?
You may cancel your services with List Confidently at any time, which will remove your listing from the MLS, so long as your property is not under contract with a buyer. You may cancel the listing by logging into your customer account portal and submitting the necessary changes on your listing, or you may contact support for help with doing so.
Do you assist me when I receive an offer?
Our services and listing agreement are limited to listing your property on the MLS. You provide your property information and photos, then complete the listing agreement, and we will list your property. After which, we are only responsible for maintaining the listing.
If you need assistance with reviewing an offer, negotiating prices, or completing the required disclosures and inspections, we recommend enlisting a broker for their full services. You may contact ResCom Realty, our associate, for assistance.
Are you a licensed real estate brokerage?
Our firm is a fully licensed real estate brokerage in North Carolina.
How is the commission paid to a buyer’s agent?
A buyer’s agent collects their commission at closing; the payment is deducted from the sale proceeds of your home by the closing attorney and remitted to the broker. Nothing is required of you during this time.
We collect a nominal portion, 2/10ths of one percent of the commission of the contract sale price, and the rest goes directly to the buyer’s broker. This fee is not additional—it is deducted from the agreed-upon commission determined before listing your property. This fee covers our administrative, compliance, technology, and document storage cost, as well as the expenses for employing and enforcing policies and procedures required to comply with state laws and MLS regulations. If you sell your home with a buyer’s agent, you will not pay any commission.