WHAT IS A MULTIPLE LISTING SERVICE (MLS)?

A Multiple Lising Service (MLS) is part of the regional Board of Realtors. In the Ocala area this would be Ocala / Marion County Board of Realtors. In order to participate in the MLS you must be a licensed Broker and pay a fee to include listings and participate in a Broker's fee for any property listed and offered for sale through the local MLS in Ocala / Marion County.

CAN I LIST MY HOME IN THE MLS WITHOUT A BROKER?
 
No.  An individual who is not a Broker and not a member of the MLS cannot list any property for sale through the MLS.

WHY IS THE MLS THE BEST WAY TO SELL MY HOUSE?

The vast majority of homes, vacant land and business properties are bought and sold through Real Estate Brokers. This is not to say that a lot of people don't sell their own property without a Broker, but the exposure is greatly enhanced through a local MLS. When you property is listed within the MLS it is available to literally thousands of other Buyers through licensed Realtors and dozens of other websites that the MLS is linked to, such as Realtor.com, etc.

 

It is not likely that a Realtor will even know your house is for sale unless it is listed in the MLS. Also, unless a Realtor can convince the Buyer they are working with to pay the commission, if you house is not listed in the MLS it is unlikely it will ever be shown by a Realtor.

DO I HAVE TO PAY A COMMISSION TO A BUYER'S BROKER IF I LIST MY HOME FOR SALE THROUGH A FLAT FEE LIMITED SERVICES AGREEMENT?

Yes. When you sign a limited service agreement you pay Southern Pines Realty as the listing Broker a flat fee for services you choose to have Southern Pines Realty perform for you. The basic Agreement you would sign with Southern Pines Realty would allow your property to be listed in the MLS. You can choose what you will pay to a Buyer's Broker (typically a percentage of the sale price) , but you must provide some type of compensation for the Buyer's Broker in the MLS.

DOES SOUTHERN PINES REALTY RECEIVE A COMMISSION IN ADDITION TO THE FLAT FEE PAID AT THE TIME THE AGREEMENT IS SIGNED?
 
That depends. 
 
Yes, if Southern Pines Realty has a Buyer that makes an offer to you, the Seller, and the offer is accepted, Southern Pines Realty would be entitled to the same commission that is offered to any Buyer's Broker in the MLS. 
 
No, if a Realtor from any other participating Broker has a Buyer that makes an offer to you and the offer is accepted, Southern Pines Realty would not be entited to any further commission or compensation, except any fees that may have been agreed to at the time the listing agreement is signed.  However, the Realtor that has presented an offer from a Buyer would be entitled to the commission that was offered in the MLS.
 
No, if you as the Seller procures a Buyer that is not represented by a Realtor, or was not represented by Realtor when that Buyer saw your house.

WHO WILL REALTORS CALL TO SHOW MY HOUSE?
 
Again, that depends.  In the Limited Services Agreement if you choose you can pay a flat fee of $150 for the entire term of your listing to have Southern Pines Realty take all the calls from other Realtors and arrange mutually convenient times for you to show your home to prospective Buyers represented by Realtors, this can be done.  Or, for no extra fee, your number can be included in the MLS listing as the contact person and you can take all of the calls and arrange for the showings yourself.

CAN I CANCEL MY FLAT FEE LISTING AGREEMENT AT ANY TIME?

Yes. You can cancel at any time during the term of the contract without any fee or cost. In the event you have choosen an additional service that requires a monthly payment, that payment is due on the 1st of the month and no unused portion would be returned. For example. You choose to pay an additional $150 for one month's advertising you would pay this to Southern Pines Realty on the 1st of the month. If you decided to cancel your listing with Southern Pines Realty on the 10th of that month, you will not receive all or any portion of the $150 monthly advertising fee back. This applies to any monthly fee you may choose as part of your flat fee agreement.

WILL MY LISTING RECEIVE LESS EXPOSURE THAN IF I LIST IT WILL A FULL COMMISSION BROKER?

Not really. It will get listed in the MLS immediately by any Broker. From there it does change depending on what services you choose to include in your flat fee listing with Southern Pines Realty. Most full commission Realtors will choose where to advertise your property and when to advertise your property. In exchange for that you pay a high percentage commission to the listing Broker when your house sells. The 'gamble' for the Realtor listing your property is that after spending all of their money on advertising that they will receive a rather high payout in percentage commission at the time of closing. If the house does not sell, then the Seller has not lost any money on advertising, since the Realtor is responsible for that in most listing agreements. However, you will pay a much higher percentage commission to a listing Broker if your house sells than to Southern Pines Realty in a flat fee agreement.

With the flat fee agreement with Southern Pines Realty for a relative small monthly amount you choose when and where to advertise your property, based on a list of advertising options provided by Southern Pines Realty - although we will certainly consider anywhere you would like to advertise. You can choose to advertise your property in places that you would not otherwise be able to without a Broker, such as Homes & Land, Digest of Homes, etc. These are Realtor only publications where your property would be advertised along with other listings in Southern Pines Realty's advertising space. These publications reach a lot of people that are searching for properties.

WILL MY HOME GET EXPOSURE ONLINE?

Yes. You can choose to have your home advertised with a separate web page on the Southern Pines Realty's website highlighting your home, vacant land or business property. In addition, if you choose to add a Virtual Tour to your listing agreement, you will have additional internet exposure through numerous online sites that market homes through the Virtual Tour. Virtual Tour is one of the best ways to show your property to Buyer's online.

WHY WOULD SOUTHERN PINES REALTY CHOOSE TO RECEIVE A SMALL FLAT FEE FOR LISTING A PROPERTY WHEN AS A BROKER SOUTHERN PINES REALTY COULD RECEIVE A HIGH PERCENTAGE COMMISSION AS A LISTING BROKER?
 
Southern Pines Realty is a full service brokerage company.  We do have full percentage commission listings.  A flat fee listing agreement is simply another option we have made available to Sellers that may not have the equity to pay a full commission to a listing broker and still have sufficient funds on the sale of your house. 
 
We also feel that giving Sellers options on what brokerage services are needed is something can benefit both the Seller and the Broker.