Florida Sellers Save Big, No Listing Agreement Just Cheap MLS Flat Fee Listings
When you search “Flat Fee MLS”, “Flat Fee MLS Florida”, “Flat Fee MLS Miami”, “Flat Fee MLS Tampa”, “Flat Fee MLS Orlando” or “Flat Fee MLS Jacksonville”, what do you find?
One flat rate MLS “website” after another offering $159, $169, $199 and $250 for a listings in the MLS. But, what you don't see is their listing agreements.
Where are they? Does this mean flat fee MLS listings agreements are no longer a requirement of the MLS?
NO IT DOES NOT!
I am Keith Gordon, broker and co-founder of ADDvantage, the most respected and hardest working Florida licensed flat fee MLS service. We publish our “articulate” flat fee MLS listing agreement on our home of our website.
Our basic flat fee MLS listing is (Program not currently available). Florida seller's pay a little more for the ADDvantage brand of service but they gain peace of mind knowing: all buyer leads go to you, the seller; we never miss calls from Realtors® or buyers as we answer our phone 9 hours a day, even Saturday and Sunday from 9:00am-6:00pm (that's better than any full service company); there are no cancellation fees; we will “unconditionally withdraw a listing from the MLS upon request; and we offer the most articulate listing agreement of any flat fee service in Florida.
Back to listing agreements…Every Florida MLS board requires the seller(s) to sign either an “Exclusive Right of Sale Listing Agreement” or an “Exclusive Agency” listing agreement.
The tag line of this blog “Florida Sellers Save Big, No listing agreement, Just Cheap MLS Flat Fee Listings” is a joke Any flat fee “websites” that do not first show you what their listing agreement is not being straight-forward.
Here's my take on flat fee “websites. If their website looks home-made, or a potential buyer can't easily search the MLS from their site or you can't find their MLS Listing Agreement…then move on. Amateur websites equate to no money invested in their site, no thought involved in capturing buyer leads and not a trusted source for your valuable MLS listing, your buyer leads and not truly committed to your success as a seller.
The reason why listing agreements are so important is because they say what the terms are going to be between the seller and the listing broker. Maybe their listing agreement says all buyer leads (unrepresented buyers-no Realtor® attached) go to the listing broker and not you; maybe it says there is a $500 cancellation fee if you attempt to switch to another broker before their 12 month listing term expires; maybe their listing agreement says they will only “conditionally” withdraw your listing from the MLS (not “unconditionally” as it should read) which means no other broker can re-list your Orlando home until you pay a fee; maybe their listing agreement says that if you want to switch to another broker, you must use their “associated” broker or pay 1% at close. (All tricks I have seen.)
If the flat fee website does not present you with a listing agreement before you pay, it is nothing short of bazaar, poor business practice and unethical.
Before listing flat fee in the MLS, find out the hours that the flat fee service answers their phone and if they send you all buyer leads from Realtor.com. These two facts should be in the listing agreement. You are paying in advance for a service (flat fee), so you better know exactly what you are getting and what they are giving and taking.
In brief, seller's phone numbers are not published in Realtor.com, just the listing brokers. All calls and emails from Realtor.com go directly to the listing broker. Listing agreements must clearly state who gets these valuable leads. If these leads do not go to the flat fee seller, then this is not a flat fee listing, but rather a listing in the MLS for the sole benefit of this unscrupulous listing broker.
At ADDvantage, we offer Florida sellers a traditional flat fee listing that guarantees all buyer leads will be sent to the seller in real time-7 days a week.
ADDvantage is the only flat fee service in Florida that offers sellers extended hours of phone support. We answer our phone 9:00am-6:00pm 7 days a week. Why would ADDvantage spend so much money staffing our office with professional MLS administrators (9 hours a day) when it says in the MLS under “Realtor® remarks” to “call seller directly for all showings at 305-999-2091?”
The reason is Realtors® don't read the “Realtor® Remarks” most of the time. They just call the listing office (that would be the flat fee MLS service.)
Over the past 12 months, ADDvantage has sent our Florida flat fee MLS sellers emails with requests from Realtors® and buyers to see their Tampa, Miami, Orlando or Jacksonville homes. of these emails were sent on Saturday, Sunday or after 5:00 pm on weekdays. That means our phone rang times and each time, a Realtor® or a buyer was on the other end of the phone saying something such as…
“Hi, this is Carman from Coldwell Banker and I would like to show your listing (not flat fee listing…just listing) at 8877 Collins Avenue #803, Miami Beach at 11:00 Tuesday.”
This Realtor® (and the rest of them) obviously didn't read the “Realtor® Remarks” section of the MLS that clearly say “call seller directly for all showings at 305-999-2091.” But, why would the Realtor® call the seller anyway. Most listings in the MLS are full-service listings not flat fee. Realtors® simply just don't pay attention. If your flat fee service is not paying attention to their phone, sellers will lose showings.
There are many more reasons why Realtors® call the listing broker such as: (i) the seller didn't answer; (ii) They just call (is the number one reason); (iii) a Realtor.com unrepresented buyer; (iv) the Realtor® insists on speaking with the broker because they feel it's more professional; (v) the Realtor® wants to make an offer; (vi) the want a seller's disclosure; (vii) they need to know if they seller is motivated; (viii) do we have a copy of the deed restrictions; (ix) I'm lost, can you help me find the listing; (x) and the classic…”I'm in front of 530 CEDAR FOREST CIRCLE, in Orlando, can you help me with the showing instructions as I have my clients with me”?
An ADDvantage, we make our money off our flat fee listings, not off your buyer leads. We service our clients, Realtors® and unrepresented buyers 7 days a week. We also offer high-end flat fee products such as Street Smart ADDvantage® Realtor® E-Blast (Program not currently available) (Seller must offer a 4% or more buyer's agent commission) and ADDvantage PLUS™, contract-to-close $799 at close (same as full-service, just better service).
Our level of service at ADDvantage costs more than any other Florida flat fee MLS service. We never miss Realtors® calls, never take buyer leads from our flat fee sellers, never charge a cancellation fees and will always “unconditionally” withdraw your listing from the MLS same day you ask which allows another broker to re-list immediately.
Listing agreements define the flat fee company, the service or dis-service that the seller will receive. If the flat fee website doesn't publish a listing agreement, move on to one that does.
Call us anytime, the Realtors® do.
727-942-2929 or 1-877-232-9695