What is the MLS (Multiple Listing Service)
The MLS is a proprietary electronic database that contains every residential home, vacant land and commercial property listed by Realtors® for sale or lease within a geographical area. Created by the National Association of Realtors® (NAR), the MLS is the most widely used source of properties for sale by Realtors® in the United States. The MLS combines all Realtor®-listed properties in one database within a large geographic area. For example, there are around 67 different MLS systems throughout Florida. Realtors® are members of a local Board and pay an annual fee which allows them to access their local MLS. The MLS contains detailed information on the properties it lists, records of all recent closed sales and their sales prices as well as property tax information. With this information, Realtors® are able to generate comparable analyses of properties and custom searches by any criteria. The MLS also provides a platform for Realtors® to state the listed properties' commission participation to other Realtors®. This is why you do not typically see For-Sale-By-Owner (FSBO) properties listed in the MLS . Additionally, many Realtors® do not approach FSBOs because there is no stated commission agreement. Gold Advanced MLS Listing bridges that gap between Realtors® and FSBOs by offering a flat fee listing in the MLS. Sellers gain the same exposure that Realtor® listed properties enjoy without having to pay a full service listing commission. Instead, sellers pay a low flat fee up front to list in the MLS and then offer buyers' agents a commission to bring a buyer. (This commission is determined by the seller).MLS - How it Works
- The MLS is NOT one big database of all properties. Again, let's use Florida's 67 separate MLS databases.
- Each MLS covers a specific geographic area. Some MLS databases overlap areas. For example, Venice, Florida properties can be listed through the Venice or the Sarasota MLS .
- Some Realtor® boards share data or “reciprocate” with each other. For example, a Tampa, FL property would go into the Hillsborough MLS or Mid Florida Regional which datashares with the Pasco/Pinellas MLS. Members of either board have the passwords to access each other's MLS and search listings.
- Sellers need to be listed in an appropriate local board where MLS data will be seen by the local Realtors® in that area. For example, it would do a seller in Miami little good to be listed in the Jacksonville area MLS.
- Realtor.com, unlike the MLS, is one big database of properties—not only for Florida, but for the entire US. Data on Realtor.com comes directly from all of the MLS databases. It is not as extensive as what the Realtors® see but it does give buyers a way to view limited MLS data.
A full service listing agreement is typically a 6 month listing. The main drawback of most full service agreements is that the Exclusive Right of Sale Listing Agreement most often used by Realtors® is a contract which lasts 6-9 months and during this listing period, you cannot sell your house yourself or “FSBO”. Customarily, a 6% commission is shared between the listing agent and the selling agent (sometimes the listing agent is also the selling agent). Listing with one of our MLS listing programs saves you a lot of money on the listing side commission.
With a flat fee listing, if you are successful finding a buyer for your property on your own without the assistance of a real estate agent, then you would pay NO commission; just the Gold Advanced MLS Listing flat fee of $399. It's that simple.
Silver Basic MLS Listing offers a Flat Fee listing in the MLS which is designed for Investors & Sellers who have the experience and time to show their properties. This means your property is placed (or listed) in the number one real estate database in America used by the best Realtors® in your area. Every time a licensed real estate agent searches for a home or vacant land in your price range for one of their clients, your property will appear in the available properties for sale. All calls from your MLS listing will come directly to you. All unrepresented buyer leads will be forwarded to you by us with our exclusive Lead Capture system. If you have any questions about this offer call 727-942-2929 or 1-877-232-9695 for live help.