Multiple Listing Service (MLS)

Place your home in the local MLS to provide the ultimate exposure for your property.



Frequently Asked Questions

What is the Multiple Listing Service (MLS)?
MLS stands for Multiple Listing Service. The MLS Listing System is a database of homes for sale in a specific area and is run by the local Board of Realtors®. It's the traditional method agents use to find homes for their buyers or to advertise their listings to other agents.

What are the steps to get on the MLS Listing System?
  1. Order an MLS Listing for a low flat fee by selecting one of our packages with the Flat Fee MLS option
  2. A broker will contact you directly and provide you with the necessary paperwork.
  3. Return the completed paperwork to the broker who will place your home on your local MLS within 48 hours at no additional charge.
  4. The broker will send you a pdf proof to show you your listing in the local MLS and provide you with the MLS Listing number for your property. Your home will be listed for six months.
  5. When a Realtor® brings you a buyer that results in a successful home sale, you pay the Buyer's Agent a commission (typically 2.5-3%)


How long does my home stay on the MLS Listing System?
Your home will be advertised on your local MLS Listing System for six months. It will appear on Realtor.com as well.

Do I get a refund if my home doesn't sell or I convert to an agent before the six months is up?
There is no refund, nor any portion thereof, once you have placed your home for sale.

How many photos do I get in the MLS & Realtor.com?
While you can have up to 20 photos on HomesByOwner.com, the common number of photos for local MLS's and Realtor.com is typically 4 to 6. This is determined by local market practices and your local broker.

What is the benefit of putting my home on the Multiple Listing Service (MLS)?
There is one very significant benefit to having your home listed on the MLS - EXPOSURE to the local pool of real estate agents! The fact that you have your home for sale in the MLS will now be known by the hundreds, if not thousands, of real estate brokers and Buyers' Agents in your market who are helping buyers find homes.

What does it mean to "co-op"?
Co-op (cooperative payment) means that you would be willing to pay a Buyer's Agent a fee for bringing a buyer to you. Typically, a Buyer's Agent is paid 2.5% - 3.0% of the sales price. It is necessary to list the commission amount you are willing to pay on the MLS when you fill out the MLS listing agreement.

If I do not want to "co-op" with a Real Estate Agent, is the MLS Listing still a good idea for me?
No. A Buyer's Agent expects compensation. Without offering it, an agent will have no reason to bring a buyer to your home.

Do I have to pay an agent if I put my home on the local MLS Listing Service but find the buyer myself?
NO! In this scenario, you would have only spent the one time flat fee charge to get on the MLS Listing System.

So what are my cost savings with putting my home on the MLS Listing System as opposed to going with a full-service Real Estate Agent?
Let's go through both scenarios with the assumption that you are selling your home for $200,000. One scenario uses a regular full-service Seller's Agent with a 6% commission. The second scenario saves you thousands by using our Premium package with the Flat Fee MLS service.

Traditional Real Estate TransactionMaximum Exposure MLS Listing
Your costs$12,000
(6% of $200,000)
$369
(Premium Package w/ Flat Fee MLS)

$6,000
(3% "CO-OP" fee paid to an agent if they bring a buyer)
Total paid after sale$12,000$6,369
SavingsSavings of $0Savings of $5,631 !!!


Refund Policy
Your property will not be placed in the MLS until you have signed the appropriate paperwork. Please make sure that all of your questions have been answered to your satisfaction prior to signing. You understand and agree that there are no refunds given once a property has been entered into the MLS Listing System, and an MLS Listing number has been assigned to the property.

STATE SPECIFIC RULES AND DISCLOSURES:
State Laws and Local MLS Rules vary across the nation. Your listing broker will make you aware all rules and regulations prior to placing your property in the MLS. But as we become aware of certain issues, we will try and list them here.

Yard Signs:
Some markets may require the use of a broker sign instead of the HomesByOwner.com sign. In many areas, a free sign is available from the broker, but in other areas a broker may charge extra for the use of their sign. If this is important to you, please inquire about signage in your area prior to ordering.

State Specific Laws:
If your state is listed below, it has specific laws which may affect your MLS listing. This list is not comprehensive. The list will be updated as we become aware of other state laws that differ from the norm. Your listing broker will make you aware of any laws that you must follow for your given state.

ARIZONA:
Arizona has additional legal requirements for the listing broker, which incurs an additional fee. The listing broker is required to sign and log the sales contract. The fee for this additional requirement is $25.

COLORADO:
Colorado has additional legal requirements for the listing broker. The listing broker is required to uncover and identify the company handling the closing. The closing sheet must be retrieved by the listing broker, reviewed, signed and returned. The fee for this additional requirement varies from $25 - $50 depending on the length of time it takes to complete the process.

INDIANA:
Seller is aware that Indiana law requires a Broker, or Broker’s agent, to attend the closing of the Property. The fee to list your home in the MLS and Realtor.com does not include payment for this representation at closing. When completing the Listing and MLS paperwork, you may be required to choose from a list of approved law firms to provide representation at closing, or if you want to use a law firm not on the list, the law firm may sign a form with the broker for this function. Any fees associated with this representation are only incurred after you've accepted an offer on your property and subsequently request the law firm to represent you at closing. MLS Provider does not receive any payment or referral fees from participating law firms.

IOWA:
There is an additional 0.5% fee due to the listing broker at settlement in Iowa. Iowa has additional legal requirements specifying minimum services that deter most flat fee MLS brokers from providing services in this state. The broker has to include some things such as representing the seller, advising the seller, and being more involved in the negotiations as part of their service. The additional 0.5% charge covers the cost of these activities.

NEBRASKA:
There is an additional $50 fee due to the listing broker in Nebraska. A detailed escrow report is required to be prepared and delivered to the seller and buyers agent following the completion of the transaction regardless of who held escrow. The additional $50 fee covers the cost of the escrow report prepared by the listing broker.

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