Q: What is a Flat Fee MLS Listing?

A “<a href="https://en.wikipedia.org/wiki/Flat-fee_MLS" target="_blank" rel="noreferrer noopener">Flat Fee MLS Listing</a>” refers to the practice in the real estate industry of a seller entering into a service agreement with a Realtor® that accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. Modern technology and economies of scale make this a very attractive alternative to a traditional agent.

Question 1

What is a Flat Fee MLS Listing?

Accepted Answer

A “Flat Fee MLS Listing” refers to the practice in the real estate industry of a seller entering into a service agreement with a Realtor® that accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. Modern technology and economies of scale make this a very attractive alternative to a traditional agent.

Question 2

What is a Buyer Rebate?

Accepted Answer

When buying a home, the seller pays a buyer agent commission. Our rebate is one-third of that commission paid back to you as an incentive to do business with us. You save a lot of money and can use your rebate for anything you want.

Question 3

What is a Multiple Listing Service (MLS)? What MLS memberships do DFWCityhomes have?

Accepted Answer

Today, through more than 800 local and regional MLS Realtor® associations across the USA, brokers share information on properties they have listed and invite other brokers to cooperate in their sale in exchange for compensation if they produce the buyer. Sellers benefit from increased exposure to their property. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker.

We are members of the following MLS associations:
Metrotex (DFW Area)
HAR (Houston Area)
ABOR (Austin Area)
SABOR (San Antonio Area)
CCAR (Corpus Christi Area)
GTAR (Tyler Area)
CTXMLS (Central Texas Area)
GEPAR (EL Paso Area)

Question 4

What is a For Sale By Owner (FSBO)

Accepted Answer

Abbreviated as FSBO, a home offered for sale without the assistance of a Realtor®. As an FSBO, you’re responsible for everything from start to finish. Pricing, staging, listing, marketing, negotiating, forms, contracts, legal compliance, and closing the transaction are your responsibility. FSBOs receive a ton of calls from agents trying to get an MLS listing.

Question 5

What is the difference between a Flat Fee MLS Listing and a traditional Realtor®'s 6% listing service?

Accepted Answer

The cost of the MLS Listing is a fixed amount, not a percentage.
Upfront setup fees are common with Flat Fee MLS Listings.
Features are bundled differently and vary with different providers.
Flat Fee MLS Listings avoid conflicts of interest.

Question 6

What is the difference between a Flat Fee MLS Listing and FSBO?

Accepted Answer

We know the FSBO seller does all the work to avoid agent fees and commissions.  For starters, to market any property in MLS, you have to pay a buyer agent commission. Typically, that is 3% or 50% of what would have been paid to a traditional 6% Realtor®. When you go the bare bones Flat Fee MLS route, the broker at a minimum is responsible for advertising and making any updates. If you want additional help with pictures, lockbox, signs, flyers, showing service, negotiating, closing, market analysis, you may pay more.

Question 7

What questions should I be asking?

Accepted Answer

What are all the fees and commissions? (We do not have hidden fees)
Do you help with pricing strategies? (Ask us for a free market analysis and explanation)
How will you market my property? (All MLS, photos, websites, signs, flyers are standard with us)
How will you schedule appointments? (We utilize a showing service)
What is your track record? (Look at our reviews and past performance and compare)
How do you provide representation? (We are the point of contact and handle negotiations)
Do I have to speak to buyers and their agents? (With us, only if you want to)
Do you provide transaction and closing assistance? (Yes, we do)
How long will it take to get my listing in MLS? (2-3 days with DFWCityhomes)
Do I have a single point of contact? (You have one point of contact, not a team or help desk)
How do you communicate with me? (We favor email, text, and phone)

Question 8

What are my closing expenses?

Accepted Answer

It is critically important that you fully understand your costs and timing obligations before pricing your home, executing and negotiating a contract. We help you understand your closing expenses at the time of the listing based on your approximate list price. When an offer is received, contract terms can be different based on timing and terms, and another evaluation is offered to correctly understand the offer in hand.

Question 9

How does the buyer agent get paid? Why am I paying his commission?

Accepted Answer

Buyer agent fees are always confusing. Real estate is a unique industry in that the Seller sets and pays the representation fee for the Buyer. The compensation system was developed to encourage cooperation between Brokers and promote fairness. With this system, cooperating agents can know what earnings to expect without becoming a party to a transaction. The amount you pay is negotiated in your listing agreement, we recommend 2-3%. You can offer anything you are willing to pay. The amount is not regulated.

Question 10

What should I do to get my home ready for sale?

Accepted Answer

The way you sell a home and live in a home are different things. The foremost number one thing to do is, “declutter” counters, walls, and rooms. I walk into showings all the time and the garage is stacked floor to ceiling with Tupperware crates of removed clutter. Clean and make attractive all rooms, furnishings, floors, walls, and ceilings. Make sure the basic appliances and fixtures work and get rid of leaky faucets and frayed cords. Make the house smell great. Paint is the only cost-effective improvement.

Question 11

Should I make repairs to sell my home?

Accepted Answer

Making repairs leads to a better sales price and faster sales. It's not always an easy decision about what to do and how much to spend. Wity your market analysis, we assist you in making repair decisions.

Question 12

How will I see where my home is shown on the Internet?

Accepted Answer

It is simple, in considering listing services, enter the property address and Google search some of their active listings. After your listing is live, Google search your property address. You will see all the major sites on the first page.

Question 13

What are the steps involved in selling my home?

Accepted Answer

When making a decision to sell your home, we help you establish a strategy that covers timing and cost based on your needs. While some sellers successfully sell their homes on their own, a For Sale By Owner (FSBO) arrangement is complicated and risky requiring a great deal of personal time and expertise through the process. For this reason, most people consider the fee paid to a real estate Broker worth the investment, for the convenience, time savings, and overall guidance provided. In choosing any MLS Listing Service, make sure you understand what will be provided and at what cost.

Question 14

What is a REALTOR®?

Accepted Answer

REALTOR® is a federally registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

What is DFWCityhomes?

Click Contact Us or Call (214) 207-0210

You only pay a flat fee to sell

List anywhere in Texas MLS with a full service experience

You don't have to speak to a buyer or agent

We do the speaking

Big rebate for buyers

Our Success Includes

Check Out Our Services

Flat Fee MLS Listing

Virtual Flat Fee MLS Listing

Luxury Flat Fee MLS Listing

Full Flat Fee MLS Listing

Sell or Lease Flat Fee MLS Listing

Buyer Rebate

Our Texas MLS Associations

Interested in Learning?

16 reasons DFWCityhomes Flat Fee Listing Service is better than other Flat Fee offerings?

What is the difference between DFWCityhomes Flat Fee MLS Listing and that of a traditional 6% Agency?

What is Full Representation? What does that mean?

High Quality Results and Service You Can Trust

What Are People Saying About DFWCityhomes?

Partners and Affiliations

Frequently Asked Real Estate Questions