Co-op' stands for “Cooperating Commission”. This co-op is paid to the buyer’s agent at closing for bringing a qualified buyer who makes an offer that is accepted by the seller. Typically sellers offer a 'co-op' between 2%-4% of the sale price. The higher of a co-op you offer, the more showings you will have.
Do I really need the MLS and Realtor.com to sell my home?
No, but here are some reasons why you should; Statistics show that more than 90% of the homes sold last year were advertised with the MLS and Realtor.com, Realtors® represent 80% of real estate sales in Florida, and with more exposure and more buyers - you will have your home sold quicker and for more money.
What's the difference between "Full Service" and a "Flat Fee" Listings?
With a full service listing, the agreement is typically a 6 months. A main drawback for most full service listing agreements is that the Exclusive Right of Sale, which prevents the owner/seller from selling the house “FSBO” during this listing period. With this type of listing agreement, the seller has little to no control of the process, though it’s their home. Customarily, a 6% commission is shared between the listing agent and the selling agent (sometimes, the listing agent is also the selling agent).
With a flat fee MLS listing, the seller doesn't pay a “listing commission”, which is typically half of the 6%. With flat fee, the seller in essence becomes the “listing agent”. The initial flat fee is used as a marketing fee for advertising your property on sites such as the MLS and Realtor.com. With a flat fee MLS listing, if a buyer finds your property without the assistance of a real estate agent, then you would pay no commission – to anyone.
You can submit up to 25 digital photos for your listing on both MLS and Realtor.com. After signing up with our service, you will be given a Login in with a Pass code to our virtual office where you can upload your photos.
Can I place my "For Sale by Owner" sign on the property? Should I?
Yes, but we recommend that you use our sign. It’s an “agent friendly” sign that implies to other agents that you are currently listed on the MLS and are willing to offer a co-op to buyer’s agents. There is no way for a buyer’s agent to know that you are using a Flat Fee service. The only thing they see on the MLS is what co-op fee is being offered. You will be given a 24 hours recorded information sign with an 800 number on it. This will give buyers information on your home, as well as your number to call you directly.
You can list all types of real estate, including homes for sale, homes for rent, commercial for sale, commercial for lease, condos for sale, condos for rent, mobile homes, investment property, vacant land and any other type of real estate.
Who handles the calls and negotiations with the flat fee service?
Typically, you will handle all calls, showings, and negotiating for your property. If you’re not comfortable doing this, or you find that it’s too much work, we can represent you for an additional 1% paid at closing ( or up to $2500 max), This representation includes; negotiation of the offer(s), filling out and reviewing the contract and addendums, calculating the seller's net sheet, review the home inspection, WDO report, follow up on all repairs, coordinate with the other agent, schedule the closing, submit documents to the closing attorney and review the HUD-1 at closing.
How can you do this for so cheap? Are there any hidden costs?
There are no hidden costs. None! We get this a lot, but our service is really that affordable! You pay us the flat listing fee of the package you choose before we list you. This is basically our upfront marketing fee. At closing, you pay the agent who brings you an accepted contract. This compensation is the percent you specified in MLS & the listing contract. If you sell your property yourself, with no agent involved, you pay no commission – to anyone.
How long does it take for the listing to appear on the MLS and Realtor.com?
Once we receive the paperwork, we upload your property and have you advertised within 24-48 hours. A copy of the listing will be sent to you for review, comments, and changes. Any changes are typically done within 1 business day.
Will my contact info be displayed on the MLS and Realtor.com?
Yes, your information will be visible to other realtors on the MLS. They will call you directly to set showings and submit offers. Your contact information will not be displayed on Realtor.com. This action is prohibited by the National Association of Realtors.
Do you publish my listing(s) anywhere else in addition to MLS & Realtor.com?
Yes, your listing is advertised through multiple partners of the MLS and Realtor.com. Also, depending on which package you choose, your property might be advertised on Zillow.com.
