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Do the Traditional Agents Boycott Flat Fee MLS Listings?

Some sellers have concerns that traditional agents boycott limited service listings by not showing them. There are a few ways that a Realtor® can tell that you are flat fee listed:

  1. When a listing is entered into the MLS, the broker must choose a classification to designate the level of service given to the seller. Most “flat fee” listings fall into the category of “Exclusive Agency-Limited Service” or just “Limited Service.” The reason this classification is different from “Exclusive Right of Sale” is that the flat fee MLS listing company does not typically represent the seller with regard to contract negotiations and the seller may sell to an unrepresented buyer and pay no commission fees at closing.
  2. It is usually the case that the seller takes phone calls directly for showings in a limited service agreement. The language in the MLS for Realtors® to “contact seller directly at…” can be a giveaway that the seller is flat fee listed.

GetMoreOffers.com, Florida’s largest and most trusted flat fee MLS listing company (now also available in New York) has sold over $1 billion in real estate since we started offering flat fee MLS to Florida consumers in 2005. So, the success of our sales proves that Realtors® do not boycott flat fee listings.

Do not believe buyers’ agents if they tell you that 2% or 2.5% commission will never work either. I have been a Florida real estate broker for 34 years and have worked in the flat fee MLS trenches for 13 years. I have seen commission offerings of as low as 1.5% actually work to sell houses in highly cosmopolitan cities. I have spoken to hostile Realtors®, grumpy Realtors® and happy Realtors® and I can say this without a doubt in my mind: agents want to earn a living just like everyone else and selling homes is what pays their bills.  Whether the listing is limited service-flat fee MLS or a traditional-full service listing makes no difference. The money is green and spends the same. It is that simple!

The other very important thing to remember is that it is the buyers (and their perception of your price) that actually dictate whether you get showings or offers, not the listing type or commission.  It’s the information age and buyers have access to the same listing data as the agents.  So it’s impossible for a buyer’s agent to avoid showing a home to their buyer when the buyer is almost always driving the showings.  In most cases, they become aware of the listing before their agent does!

Knowing that buyers’ agents have no control over the sale should give you more confidence about your flat fee listing. What many don’t realize is that there are really only two or three players in a real estate transaction that call the shots—and the buyer’s agent is not one of them. The buyer is the most powerful player because they have the money. A buyer is smart…and they are “perfect,” meaning they can do no wrong because without them, no sale happens. The seller is next in the power hierarchy, followed lastly by the listing agent (if they represent the seller; flat fee or self-rep sellers represent themselves).

This is my advice about selling a home using flat fee MLS: do not concern yourself with the chatter you may hear from Realtors® saying they won’t show your home if you don’t list with a traditional 6% agent or offer a 3% commission.  Both are false statements and both are an ethics violations to boot.

Should you happen to come across a buyer’s agent who tells you that they will not show a property that they know to be flat fee listed, ignore them and move on. Sometimes agents will simply say this in hopes that you will be scared into listing your home with them.

If you wish to be listed in the MLS with an Exclusive Right of Sale listing agreement rather than Exclusive Agency/Limited Service so that your listing will appear identical to other full service listings, another option is to list with a discounted full contract representation program such as our Platinum level with Altru® Realty.  Altru offers many other valuable benefits to sellers with the strongest contract negotiators in the real estate industry for just 1.5%.  ALTRU® Certified Negotiators have one goal: to net you the most on your sale and with the best terms possible.  To find out more, check out my videos detailing topics such as Home Selling Pricing Strategies, Biggest Real Estate Misnomer, Proving the Value of Your Home…and more by going to: http://altrurealty.com/Videos.aspx.

For more information and to sign up for one of our Flat Fee MLS Programs, contact Getmoreoffers.com at 1-877-232-9695.




2017 Real Estate Year in Review and 2018 Forecast

GMO 2017 Review

A year for the records for everything but real estate. 2017 was pretty much in slow motion. New listings were few and buyers were picky to boot. I truly knew what 2017 was going to be like from the slow election-dominated news of late 2016. 2016 finished weak and there was absolutely not a single sign that 2017 would be anything but a repeat of 2016 with a bad attitude. I literally said in early January of 2017 that we had a bunch of work ahead of us and no real market gains. I was 100% correct! So what we did was to ignore the dogma of 2017 and focus on our many unique real estate brands and our new start-ups.

Knowing this, we forged forward and focused our resources on new products and getting ready for 2018. At GetMoreOffers, we made the best of it adding a few new key people to our already professional staff adding a highly talented digital marketing professional and laid the ground work for GetMoreOffers Generation II which we expect to be rolled out late 2018.

We also have decided to offer a free flat fee MLS listing in the Florida market. This new program should be released by February 2018 replacing the MLS Express plan.

Going back to real estate, the Florida market was mixed with some small gains in some cities and loses in others, like Miami. It was a tug-of-war between buyers and sellers with buyers ending up with a stronger position. It was all about price. Colorado remained super-strong.

GMO 2018 Real Estate Forecast

The future is bright for general real estate in 2018. GetMoreOffers is going to help sellers get their property listed faster and cheaper than ever before. Getmoreoffers.com is well-known all over Florida as the most reliable flat fee MLS listing service and now we will continue to forge the discount real estate market.  Stay tuned for our next plan to be released in February.

Expect a brisk pace to real estate in 2018 as compared with the snail-like malaise that dominated 2017. A high consumer confidence in combination with aggressive lending will be the main driving forces for 2018. I see no political road blocks but a few bumps along the way to a more positive market tone and direction. The labor market should continue to tighten and drive more job transfers. This all spells out a clear path to more listings hitting the market. I believe looking back at 2018 we will say it was a year dominated by making a move now for my family and not waiting.




Flat Fee MLS Listing Service Agreements

Florida Flat Fee MLS listing service agreements…read the fine print or be held hostage!

Do Florida FSBO sellers really know what they are signing before they list their homes using a Florida flat fee MLS listing service that may not really be a Florida based company? Where are your buyer-leads going from Internet marketing such as Realtor.com, Homes.com and other websites that the flat rate MLS service receives? Is your flat fee MLS broker entering your listing in your correct Florida local Board of Realtors? What penalties and contract terms is a seller being held to if they cancel the listing and go full service or with another flat fee MLS listing company?

Did you know that the Florida MLS listing service charges a $500 penalty to cancel an MLS listing with them? A flat rate MLS listing isn’t a bank CD so why would do that? The answer is obvious if you are aware of their business practice with regard to buyer leads. Unlike GetMoreOffers.com, takes all buyer leads for themselves. So if you cancel your listing, they lose a valuable stream of leads which is bad for them and hence, the cancellation fee. Also, if you end up listing through another real estate company, gets a 25% commission referral fee from the new real estate company if the home is sold within 6 months. The bottom line is they own at least a piece of you for 6 months. Some even charge a hidden commission.

Flat rate MLS Buyer Leads…where do they go?

So, if a Florida flat fee MLS listing service collects all of your buyer leads from Realtor.com, other internet sources and yard sign inquiries to then work them as their own buyer leads and earn the offered commission, how does a Florida seller listed via a flat rate broker find an unrepresented buyer to sell their flat fee listed home? They likely won’t unless they find the buyer through a friend or other unlikely source. This seems to totally contradict the point of doing a flat rate MLS listing in the first place since one of the biggest advantages is to give sellers the opportunity to sell without paying a commission at all. The worst part is many flat rate or discount MLS companies like don’t disclose how they deal with buyer leads in their listing agreement…so unless a seller calls them to ask that question ahead of time, they may be very unpleasantly surprised after initiating the flat fee MLS listing. At that point, it’s too late and they are held to either a hefty cancellation fee or to stay with an MLS company who doesn’t hand over their leads.

At GetMoreOffers.com®, the seller is in full control of their Florida flat fee MLS listing and can cancel at any time with NO PENALTIES WHATSOEVER. Also, all buyer leads go to the seller—and we put that in writing. View our Listing Agreements

flat fee mls “Free” Florida flat fee MLS listing service…what does it actually cost you?

What about those Florida websites offering a FREE Florida flat fee MLS listing? Where do the buyer leads go? Possibly to the flat rate MLS company’s mortgage operation to pre-qualify these leads and then move them to affiliated or in-house REALTORS® that in turn may or may not try to sell your home and take the offered commission.

Florida flat fee MLS sellers that list with GetMoreOffers.com® get all buyer leads via GetMoreOffers.com® buyer lead capture system…guaranteed. If you have any doubt, call us on one of our flat fee listings and see if we advise you to contact the seller directly!

At GetMoreOffers.com®, a flat rate MLS listing means the seller is a “hybrid” For Sale By Owner, meaning that they are gaining the exposure of being in the correct local Florida MLS while retaining the right to sell their Florida MLS property themselves and thus avoid paying the buyer’s agent commission offered in the Florida MLS. This is called an Exclusive Agency or a Limited Service Listing Agreement. This means the Florida MLS seller is advertising in the Florida MLS so that REALTORS® will bring buyers and work for the offered buyer’s agent commission as stated in the Florida MLS. At the same time, the seller still has the right to sell the Florida property without an agent involved and pay no commission.

Seller Beware!

In a nut shell, many flat rate MLS services that advertise they are a Florida based company are a sham. They either don’t pass on buyer leads to their sellers or they offer little or poor phone support or they use your Florida FSBO as bait to attract buyer leads through the Internet (Realtor.com, etc.) and then use these buyers to suit their own needs.

Even worse, they could enter your listing is some random MLS board outside the state of Florida which does a seller no good. Their home will not show up to the local Realtors.

Our Florida flat fee MLS listing agreement is a bit lengthy but, the language is clear and says what the Florida flat fee MLS seller will receive from A-Z. It references the 8:30am-7:00pm 5 days a week (Sat till 5:00 and Sunday till 4:00 pm) live phone support and the fact that all buyer leads go directly to the seller. We’re not afraid to say it because we stand by it 100%.

What GetMoreOffers.com® offers Florida sellers is a true Florida flat fee MLS listing service with no strings attached. No hidden fees, no cancellation fees and no 25% referral commissions if you take your Florida property listing elsewhere. At GetMoreOffers.com®, we have confidence you will find great value in our service and ultimately it is our sellers’ best interests that is our primary concern.

If you really read the fine print of many listing agreements from other Florida MLS listing services, you may find language that is clearly not in your best interest, but in the best interest of the Florida MLS company. If you don’t read language in a listing agreement that clearly spells out the details of where buyer leads go and this is not clearly stated their website, then you can assume the Florida flat fee MLS listing company is cheating you out of your valuable unrepresented buyer leads.

These practices seem to be a clear contradiction to the concept of a “Florida Flat Fee MLS listing.” Wikipedia.org has the term “flat fee MLS” described rather clearly. 25% referral fees and $500 early withdraw penalties are not exactly what you’d expect from a clear cut flat fee MLS listing. These are commissions and fees (like the banking industry, or should we say bilking industry) that are being passed off as flat fee MLS listings.

The GetMoreOffers.com® definition of an authentic Flat Fee MLS listing service

The GetMoreOffers.com® definition of a Florida flat fee MLS listing service is as follows: All buyer leads from Internet and yard signs go to the unrepresented Florida FSBO seller in real time 8:30am-7:00pm, 5 days per week and Saturday and Sunday. At GetMoreOffers.com®, this means the Florida flat rate MLS seller gets the opportunity to talk with these unrepresented buyers and the possibility of selling their flat fee MLS listing with no commission involved. Hence the point behind listing flat fee in the MLS.

Keith Gordon, authorized broker for Florida GetMoreOffers.com® says, “Florida flat fee MLS services are looking for profits in the wrong places. Making a profit in discount real estate requires patience and long term planning. Our business plan at GetMoreOffers.com® does not include the use of gimmicks, hidden fees and other manipulative methods of trapping profit. We’d just rather earn it the hard way and the fair way. We believe that long term, our brand will benefit from client referrals and repeat business.

The future is bright with new technology and innovation…

We are betting on our investment in MLS listing software, referrals, new technology, new brands such as Altru Realty of latest hybrid company. The market in Florida is changing rapidly in the flat fee MLS arena. At GetMoreOffers.com®, we have mapped out a modest profit forecast for our flat fee MLS division. Altru Realty, where fully represent sellers, is gaining momentum charging just 1.25% at close and zero upfront. Keith Gordon is also the co-founder and broker for Altru Realty (Florida) and has become a powerful and savvy negotiator surpassing one billion in sales. His new book The Real Estate Sand Box is due out late 2017. Altru Realty now has 3 full time negotiations, 2 full-time closers and a supporting MLS team. Keith Gordon and his partner Erin Knorr are extremely excited about another endeavor Showing Bee which will be helping listing agents and buyers get showing faster. Showing Bee starts October 2017 with GetMoreOffers.com and Altru Realty. If that wasn’t enough on our plate we have successful ventured into the title insurance business with New Frontier Title. New Frontier Title is an affiliated business and enjoys a fantastic reputation just like GetMoreOffers.com. New Frontier Title now has a team of team of 5 licensed title professionals closing real estate transactions all over Florida. Because photography is so important to selling homes we opened Move-in Virtual Tours featuring Matterport 3-D immersed technology and HD magazine quality photos.

Get the true-blue Florida Flat Fee MLS listing from GetMoreOffers.com®