Frequently Asked Questions
Listing Broker? Selling Realtor? Buying Broker? What are the differences?
Listing Broker and Listing Realtor is the person that actually lists your property on the Multiple Listing System or MLS. Selling Realtor, Selling Broker or even Buying Broker is the agent that brings the buyer to buy your home.
Is the MLS the best way to sell my home?
Yes, the vast majority of homes are sold through the MLS due to the large network of REALTORS® working with home buyers. The National Association of REALTORS® (NAR) reports homes listed by REALTORS® result in a higher net price to Sellers compared to "FSBO" home sale transactions.
How can your services help sell my home faster?
If you list with a REALTOR® and pay a 6% commission, you may need to increase the price of your home to defray your high commission expense. With our program, you practically eliminate the Listing Commission. This allows you to lower the asking price of your home, making it available and more competitive to more buyers.
Is this the same Multiple Listing Service (MLS) to which all REALTORS® belong?
Yes. All REALTORS® that sell and buy use their local MLS to search for properties for their buyers.
Is REALTOR.COM and THE MLS SYSTEM THE SAME?
No, they are separate and distinct services with different websites and usage. Realtor.com is run by The National Association of Realtors® and picks up all the Nationwide MLS Listings from the hundreds of Multiple Listing Services around the nation and puts the property information in their website.
What is the difference between public websites, such as REALTOR.com and the MLS?
Public websites like REALTOR.com receive listings directly from the MLS itself. Unlike the MLS, which is updated instantly, the public Internet sites are typically updated every 1-2 business days. Because of this, REALTORS® only use their local MLS system to search for homes for their buyers.
Is there a "MLS"® which may be used by owners selling without a REALTOR?
NO. There is no FSBO MLS System. The general public is not allowed to list their own property in the REALTORS® Multiple Listing Service. Only a State Licensed REALTOR® Member may access their regional MLS to list a property for sale or find homes for buyers.
NOTE: Please be aware in order to get your property listed in the Tulsa, OKC or NEO MLS system it has to be listed by a licensed Real Estate Listing Broker that is a member of that MLS board. There is no additional money you pay to the listing broker to list your property. A REALTOR® has to be involved in order for your property to be listed into the MLS and REALTOR.com®
Why would the listing real estate broker want to list my home in the MLS if they're not going to receive a commission when it sells?
Actually, the up-front listing fee is their earned commission for listing your property. Since you are paying up-front to be listed on the MLS there is no-risk to the listing broker. In a traditional real estate listing, the listing broker isn't compensated unless the house sells, so there is a huge risk they will not be compensated for their time and advertising expenses.
Will Realtors show and sell my home if it's not listed on the MLS?
It is not likely. Of course, there are a few exceptions. REALTORS® operate mostly from MLS computer listings. The MLS Listing Agreement specifies the REALTORS® commission and without this agreement REALTORS® will usually bypass FSBO homes. Of course, you may sell your home without a REALTOR®, but once listed; REALTORS® do not regard you as a FSBO but simply another listing for them to sell. Realtors will generally avoid FSBO properties due to the fact that they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to a Buyer's Broker, the buyer could cut the Realtor right out of the transaction and negotiate directly with the seller. The MLS will protect all parties.
Will Realtors® show and sell my home even though I paid for a Flat Fee Listing?
Yes. Your MLS Flat Fee Listing will look exactly the same as any other listing. There is no way to tell how much you paid your listing broker to get on the MLS. Regardless of whom you listed with or what you paid, your listing will look no different from any other listing in form and style. The listing broker's name appears on the MLS. Our flat fee listing method gets your property on the same MLS used by your area REALTORS®. Your listing will appear the same as all other MLS property listings.
Is it True some Realtors may not show my home if they know it is a flat fee listing?
No. Brokers want to find a home that meets their buyer's needs as quickly as possible, as long as they get paid a competitive commission for bringing the buyer. It is extremely rare that a Realtor would refuse to show a home that pays them a competitive commission and meets their buyer's and Federal law prohibiting a boycott, but it is extremely rare. In general, the MLS listing does not tell them how much you are paying to list your home, only what you are offering to pay the buying broker who brings the buyer, so the buying broker won't know how much you are saving.
It is more common for a listing broker who hopes to list your home themselves to say that Realtors won't show your home to their buyers. While making this statement violates Federal Law and the Realtor Code of Ethics, realize that this is an attempt to list your home because the broker doesn't have a good reason why you should pay their higher price.
How important is it the listing REALTOR'S® office is in the same city, or at least the same state?
Other sites say it doesn't matter but it does help knowing your listing broker is familiar and current with the Tulsa, OKC or NEO MLS system. Another advantage is Realtors working with buyers that need to get in touch with the listing broker knows the office is here in Oklahoma not somewhere in California or Texas.
How Will REALTORS® schedule Showings?
When a Realtor wants to show your listing to their buyer they will look under the "Broker Remarks" for showing instructions. We now have the option for you to use our 800 Showing service for Realtors to set up appointments directly with the seller. This is a great tool for both parties plus the showing Realtor will give feedback on the showing which will be made available to the seller.
Can I cancel my Flat Fee Listing at any time?
Yes, you can cancel your listing at any time. Just notify your listing broker you wish to cancel your listing.
Can I make changes to my MLS listing?
You can email or call your listing broker any changes after reviewing the MLS Listing - there is no charge for changes. We also don't charge a "transaction" fee like other companies.
If I find my own buyer, will I still have to pay a selling commission?
No. If you find a buyer for your home with no REALTOR being the procuring source, there is no commission to pay. However, if you need help with the paperwork and all the steps involved to close on your house, ask your listing broker for their flat-fee charges for Broker Assistance
What does "find your own buyer" mean exactly?
Let’s say someone calls you from your yard sign. That would be your buyer because they are not working with a REALTOR. So in this situation, you would not pay a commission because a REALTOR is not involved or representing the buyer.