Who are you going to believe about how the flat fee MLS industry works?

There are four “business models” offering flat fee MLS listings in Florida:

1) National Website: They are not licensed in Florida but collect money and then refer you to a Florida discount real estate broker-who gets a portion of the fees collected. National websites are competent business enterprises that usually have a real estate broker’s license in one state but not in all states.

2) Florida part-time amateur flat fee website: There must be 70 or so of these “websites” in Florida. They are licensed real estate brokers that do flat fee listings part-time or are testing the waters to see if they can make a few bucks at flat fee.

3) Florida broker that is masquerading as flat fee: They seem like flat fee but their business model is not consumer friendly and I see their business practices as questionable. They may or do take your buyer leads from Realtor.com and other sources for their own agents; or possibly charge a cancellation fee as high as $ 500; or hold your listing hostage until you pay up ($ 500) by only “conditionally” withdrawing your listing from the MLS if you attempt to cancel and move to a full-service agent – your listing will be trapped in this “conditional” status until you pay the ransom of $ 500.

4) Florida licensed flat fee MLS broker that is established, trusted, transparent and paperless, specializes in Internet marketing and offers real customer support. (Note: There is more than one trusted MLS flat fee firm in Florida but there are also plenty of firms that do fall into the # 2 and #3 categories above as well.)

Flat fee MLS requires more than simply inputting a listing into a local MLS…

1) Flat fee MLS sellers in Florida are 100% driven by control. They want their MLS listing correct at all times.

2) Third party websites such as Realtor.com, local MLS systems and IDX feeds to local real estate brokerage firms must be monitored constantly because listings do fall out of these systems. Technical glitches happen frequently.

3) Sellers make adjustments to their listing such as pictures, price, commission and their property descriptions. There are needed forms such as mold, lead-based paint and property disclosures.

4) The Florida Flat fee MLS broker is charged with the responsibility of buyer lead capture, agent showing requests, Internet marketing, trouble shooting, customer service, negotiating, editing and peace making. Flat Fee MLS brokers must be prepared to dedicate their time and energy.

Flat Fee MLS brokers must be prepared to dedicate their time and energy…

1) Taking $ 200 bucks and throwing a listing into the MLS as an afterthought is not what flat fee should be about. There are more moving parts that make up a “real” flat fee MLS company than one can imagine. For example: Last week, Orlando Regional MLS just took over Venice Board of Realtors. When they did this conversion, it knocked out 53 Realtor.com “showcased” properties from Mid-Florida Regional (Orlando area). It occurred on a Thursday evening and took the resources of the vice-president of Mid-Florida Regional and the Director of Operations and many phone calls to straighten out the major glitch.

2) Amateur or part-time flat fee MLS “website” operators might not have the resources or experience to deal with such matters.

3) The flat rate MLS broker must be prepared to back up the customer with support and market effectively on the Internet.

4) If the MLS discount broker requests that you print out forms, fill them out and fax back, this means they have put no thought or investment into on-line automation. This means listing changes, edit, status changes will all be fax this-fax that….back to caveman days.

What to look out for before you list flat fee

1) If the flat fee MLS “website” does not display the “listing agreement”, that should be a warning.

2) Carefully read the listing agreement “beginning-to-end” before you give any flat fee company money whether a National or a Florida based service.

3) Understand the process and policy about how buyer leads from Realtor.com and other sources get to you, the seller, if at all.

4) Realize that many calls do go to the flat fee broker. As many as 70 calls a day can come into a flat fee MLS broker. Miss one, that could be your sale.

5) Consider and verify what the hours are for the flat fee MLS service.

6) Flat fee websites that offer just one marketing option are really just a “website.” There are many marketing approaches besides just a basic MLS listing. What about marketing directly to Realtors®. For example, if a seller wishes to offer a 4% buyer’s agent commission, does the flat fee service provide a way to promote this higher than average commission? Some flat fee services do offer a Realtor eblast program which sends about 12,000 or so emails to all Ft Lauderdale, Miami, Orlando and Jacksonville real estate agent every 15 days. This is an effective marketing approach and Realtors do respond.

7) Flat fee sellers should think about contract representation. Contract-to-close flat fee programs help get the deal done faster. Having a seasoned real estate professional handle the contract negotiations results in a smoother transaction for the seller, as well, possibly netting a higher sale. One of the trickiest parts of negotiations is the possible- subsequent re-negotiations after the inspection. Negotiating an inspection report does mean re-roofing the house because some inspector or Realtor® says the roof is at the end of its “useful” life. There is an art to getting the buyer’s agent, the buyer and the seller on the same page. As well, there are some important nuances that do help get more Realtor® showings such as allowing the flat fee broker to schedule showings (more professional), using an Exclusive Right of Sale (not Exclusive Agency Listing Agreement) and use a professional looking metal sign.

How to flat fee list in Florida and stay out of trouble

1) Read the listing agreement.

2) Call the flat fee service and ask how they handle buyer leads.

3) Call and verify the hours of operation.

4) Ask if there any penalties or conditions if you cancel the listing.

5) Ask if the listing company will “unconditionally “withdraw your listing from the MLS if you choose to cancel and go with a full-service agent.

Flat Fee MLS

Tags: Flat, Florida, fsbo, Information, Know, Listing, Prior, Rate, zero

Article by Chris Harmen

If you’re involved in a Florida or Cape Coral for sale by owner property transaction, either as the buyer or the seller, you need to think about the services of the title agency. Usually, realtors serve as the go-betweens for buyers, sellers and the title agency. Without a realtor, as is often the case in FSBO transactions, you’re left to interact with the title agency on your own. So, what do you need to know about the closing and the title agency?

Trust Is Key To A Successful Cape Coral For Sale By Owner Closing

First things first, choose an agency you feel comfortable with! No matter what kind of property transaction it is in Florida or Cape Coral, for sale by owner or realtor-assisted, all home sales require the services of a real estate title agency.

While either party can negotiate to be able to choose the title agency, this really has no effect on the sale or what happens at closing. It’s important to know that the person you are dealing with is a completely impartial service provider. They are not working “for” the buyer over the seller or vice versa. The agency’s interest is only in making sure the closing happens, not that one party gets a better “deal” than the other. One of the nice things about handling the transaction without a realtor is the freedom you may feel from pressure to use a company associated with or recommended by the realtor.

The Role Of The Real Estate Title Agency In Cape Coral For Sale By Owner Transactions

The primary function of the agency in a Florida or Cape Coral for sale by owner transaction is to make sure the transaction closes on time. They do this by making sure all of the necessary paperwork and documentation is properly filled out and filed.

The title agency will serve as the point of contact for the buyer, seller, mortgage lender and any realtors and attorneys involved in the transaction. The agency will be responsible for conducting a title search of the property. If any surveys are needed, the agency will order those. In addition to this research and paperwork, the title agency provides real estate title insurance, which is required in all mortgage-backed transactions in Florida and Cape Coral, for sale by owner or not.

The title agency will also most likely host and facilitate the actual closing. This provides the buyer and the seller with a neutral closing location. If the title agency is also an escrow agent, they can hold escrow funds, pay property taxes and be relied upon to collect and remit FIRPTA payments to the IRS on the buyer’s behalf.

FIRTPA, or the Foreign Investment in Real Property Tax Act, requires that 10% of the purchase price be withheld and remitted to the IRS if the seller is a foreign person. If a foreign seller is involved in the transaction, the agency can help both parties navigate FIRTPA requirements and ensure all tax obligations are being met.

Above all, remember that the title agency is there to help you. They want the sale to close as much as you do. Be open to communication with your title agent, provide them with the materials they need, ask questions if you have any concerns, then sit back and let your Florida or Cape Coral for sale by owner closing happen.

More How To Sale By Owner Articles

Tags: Agency, Assists, Cape, Coral, Florida, Owner, Realtor, Sale, Title, Transaction

Article by Chris Harmen

So you’ve decided to sell your home in Florida or Fort Myers for sale by owner. There are a few things you can do early in the process to help speed up the sale. Use this checklist to get started on the path to a successful Fort Myers for sale by owner home sale.

Getting Your Home Ready For A Fort Myers For Sale By Owner Listing

Before the home even goes on the market, there is work to be done. Here are some things to do before putting up that For Sale sign.

a. Inspect the home for damage and repair it.

b. Ensure all appliances are in working order.

c. Tidy up the yard. Mow the grass, prune trees, weed flowerbeds, and add a pot of fresh flowers to the front steps.

d. Clean the carpeting. Consider refinishing hardwood floors.

e. Put a fresh coat of paint on the walls.

f. Deep clean the house.

Listing A Florida Or Fort Myers For Sale by Owner House

Once you’re home is in tip-top shape, it’s time to think about price. Your price needs to reflect actual buying conditions and recent purchase prices in the area.

a. Order a formal property appraisal from an independent appraisal company. b. Ask a realtor to perform a Market Analysis on the property. They are usually willing to perform this service for free. c. Research current listing prices in your area – scour newspaper ads, the MLS and check prices at open houses.

Advertising Your Florida Or Fort Myers For Sale By Owner Property

When advertising a Florida or Fort Myers for sale by owner property, the more places you can advertise, the better. Here are some ideas to get you started:

a. Put up a sign in the yard. Add a weather-proof box to hold informational flyers if possible.

b. Place an ad in the local papers and use their online ad service too.

c. List the house on Craigslist for free.

d. List the house in the Multiple Listing Service (MLS). It’s not just for realtors.

e. List the house on Fort Myers for sale by owner websites.

f. Spread the word to friend and family via word of mouth and social networking sites like LinkedIn and Facebook.

Special Preparations

While you wait, start gathering all the forms and paperwork necessary for your sale to close. You’ll want to have the title to your property, any mortgage documents you may have, a record of home repairs and appliance warranties, if applicable.

One thing that is of special note is if you are a foreign person selling a property in the United States. If that is the case, you must become familiar with FIRPTA, the Foreign Investment in Real Property Tax act. FIRTPA is an IRS law which states that 10% of the purchase price of the home must be paid to the IRS upon closing. In order for this to happen, the foreign seller must have a tax ID number. If you don’t have one of these, apply for one immediately, preferably before your home goes on the market or immediately afterwards. Without the proper tax ID and FIRTPA paperwork, the sale cannot happen.

This may all seem like a lot of work ahead of time, but it can cut down the amount of time the property is on the market and get you the price you’re asking for. With a little elbow grease and proper pricing, you can enjoy a quick Florida or Fort Myers for sale by owner transaction.

More On Sale By Owner Articles

Tags: Checklist, Florida, Fort, Getting, Home, Market, Myers, Owner, Sale

Brokers reaction to a changing real estate market…. Caught on tape!! Real Estate Market on up swing. 2012 tourism set to break all past rental revenue markets. Paul Shorey, Mike Gaskill and Donna Shorey feature real estate shows covering topics such as local news,events,beach homes for sale, beach condos for sale, gulf front properties, luxury homes and condos, market trends, gulf of Mexico oil spill, destin beaches and much more. Remax Realtor Agent
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Tags: 2012, April, Beaches, Condos, Destin, Estate, Florida, Homes, News, Real, Sale

September 2010 housing trends, what you need to know about home sales in Southwest Florida…Fort Myers, Cape Coral, Bonita, Fort Myers Beach, the Gulf of Mexico. Low interest rates as low as approx 4.1 percent. www.topagent.com
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Tags: 2010Future, Estate, Florida, Market, Real, Sept, Update

Boca Raton Florida Real Estate is selling! Good quality, well priced Boca Raton homes for sale do go quickly. Search Boca Raton Real Estate Listings at FloridaRealEstate.RealBird.com This particular property, which is not far from the Boca Raton Resort and Spa, is no exception, it is priced well and very good quality and in a great neighborhood — Town Place. This is not a foreclosure or a short sale. I would consider this home to be a Boca executive realty, however I would not consider it Boca Raton luxury real estate, even though it is a waterfront property and in a gated community. This home will likely not last very long at this price. The snowbird season is coming and Canadian real estate investors looking to invest in Florida Real Estate market and buy Florida property, they are aggressively buying while the Canadian dollar is high against the American dollar, and Canadian real estate is reaching all time highs. www.PinkRealtor.com is a front runner in providing Real Estate Investment Services to the Canadian market. With their exclusive real estate investment relationship with RBC Bank, as well as others, and their company is headed up by 2 Canadians with MBA’s. Travelling to Canada and giving “Invest in Florida” workshops, to tens of thousands of Canadian real estate investors looking ot buy Florida property, every 6 weeks, offering Boca Realty seller’s, that list with Pink Realty and Dennis Hearing PA, a major advantage to market to this market.

Tags: 21926, 33433, Boca, Estate, Florida, Place, Raton, Real, Town, video

www.sellers-MLS.com For rent by owner using flat fee MLS and Internet video marketing in Florida. Do You have property that you would like to RENT? Need to RENT? Must RENT? Have you thought about how to advertise it? Ever thought about using flat fee MLS and video Internet marketing? Internet marketing with video has become a significant strategy for all industry’s especially real estate. Combining flat fee MLS (Multiple Listing Service) with Internet Marketing is the answer to today’s real estate market conditions. This amazing marketing concept will make the cluttered market and competing properties irrelevant as tenants and buyers will find you first. Please take a minute to visit us to learn more Orlando & Tampa: www.cottagesandcastles.net Miami & South Florida www.Sellers-MLS.com Naples & Southwest Florida www.mlsswf.com Caribbean property owners and anyone from around the world can learn more at www.RealtyoftheCaribbean.com Atlanta www.RandyBess.com We are a licensed Florida Broker and International Realtor Organization.
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Tags: Flat, Florida, Owner, Rent

Miami, FL (PRWEB) June 9, 2006

Homekeys, a Miami based, technology driven real estate corporation announced today the enhancement of the company?s patent pending, interactive valuation tools for residential properties in Miami-Dade, Broward and Palm Beach counties.

The free, interactive offering includes a new property valuation report that contains an estimate of the property?s market value, county data, mapped detailed comparables and comparable active listings. ?Knowing what happened yesterday is important but for those active in today?s market, it is equally important to know the asking prices of the comparable properties that are currently for sale?, says Homekeys President and CEO Manuel J. Iraola.

Over a year ago, homekeys.net was the first real estate web site in the United States to offer the public instant and on-line property valuations integrated with county data and interactive GIS maps. Since then, companies like Richard Barton?s Zillow and InternetBrands? RealEstateABC have launched sites providing online valuations to most parts of the US. ?Determining property values has become a national obsession?, says Iraola. ?Our users want immediate and unbiased estimates of property value because timing and transparency have become key drivers to buying and selling decisions?, added Iraola.

The corporation predicts that instant and on-line property valuations will become de-facto functionality on real estate web sites throughout the US and plans to maintain its leadership position by continuing to offer the most comprehensive and robust, free valuation tools available for homeowners with an interest in South Florida.

?Everyone expects to be able to search for listings when they go to a real estate web site. Soon the ability to generate instant property valuations will be expected as well?, said Manuel J. Iraola.

In addition to providing consumer access to real estate information, Homekeys offers full-service realty and the industry?s widest range of money-saving choices. Buyers of Florida homes can earn buyer rebates of up to 55 percent of Homekeys? commission. Sellers can save on commissions with options ranging from $ 179 flat fee MLS listings to discounted full service realty in 14 Florida counties.

Homekeys.net offers comprehensive information for South Florida properties and a wide array of tools and resources for buyers and sellers across the Sunshine State. For more information, and to obtain free South Florida property valuation reports visit http://www.homekeys.net.

About HomeXperts, Inc. (Homekeys)

Tags: Enhances, Florida, free, Homekeys, Online, Property, Reports, Residential, South, Valuation

Foreclosures move ahead…banks allowing the process to continue in SouthWest Florida, Fort Myers, beach, Cape Coral, Bonita. Brett Ellis of the Ellis Team at RE/MAX Realty Group hosts this current update on the SW Florida Market as we head into the High Season. www.topagent.com
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Tags: 2010, Estate, Florida, Market, Real, UpdateForeclosuresOctober

Miami, FL (PRWEB) June 24, 2010

Homekeys announced today the launch of its Pay As You Go – Flat Fee MLS listing service. The program allows property owners to list their homes for sale and pay for services as they use them. The charge for the Flat Fee MLS listing service is only $ 9.95 per month and can be terminated by the homeowner at any time without penalty. While listed under Homekeys, homeowners may also receive assistance with negotiation and closing their transaction for a flat fee of $ 499.

The decision to offer these cost effective services was driven by a survey conducted over the past 120 days on the Homekeys.com website. In this recessionary environment, seller respondents overwhelmingly expressed their desire to have their basic needs met in a less restrictive and more cost effective manner. More specifically, they identified three areas of immediate need: (1) exposure of their properties to as many potential buyers as possible, (2) assistance with negotiating and closing their transactions and (3) freedom to address their selling needs without entering into long term listing agreements.

?Our Pay As You Go – Flat Fee MLS listing program was designed to address the major concerns expressed by many of our customers trying to make the most out of the equity they have left in their homes?, said Manuel J. Iraola, President and CEO of Homekeys. He explained tht the last couple of years have been difficult for sellers of Florida real estate. Values have plummeted and many have seen their life time equity being wiped out in declining home values. ?This economic crisis has not spared anyone. It does not matter if your home is worth $ 200,000 or $ 5 million. You are feeling the pinch. And 6% commission can really take a big chunk out of whatever equity is left. Now, more than ever, every penny counts!? Iraola added.

Homekeys provides unparalleled marketing exposure to homeowners thinking about selling. In addition to listing their property on the MLS and on its own powerful florida real estate search, Homekeys exposes its listings on all of the major real estate search sites on the Web, including a showcase listing with expanded description on Realtor.com. Homekeys clients also have free access to research links for estimating home values, to comparable sales and county records data, and to its weekly real estate Market Updates newsletter.

?Homeowners understand that it is not economically feasible for us to provide a full service listing for only $ 9.95 per month, but they also understand and appreciate that savings of up to 4% of the selling price are possible if they adopt a more active role in the process?, said Iraola. The new Pay As You Go program provides the tools and services that will enable sellers to save up to $ 40,000 on a $ 1 million home or $ 4,000 on a $ 100,000 condo. ?They just do the math and many decide they are willing to show their own homes to potential buyers and purchase only the services they feel they need?, he added.

?Our Board of Directors is clearly supportive of our position to be as socially responsible as we can be during this difficult operating environment. This is about doing the right thing for the long term benefits of the communities and the people we serve?, said Iraola. ?As Realtors, we are in a position to help many people in the community that need help now. Yes, this Program will reduce our short term profitability but hopefully those that we will help will remember us when things get back to normal?, he added.

Since its founding in 2004, Homekeys has prided itself on its consumer advocacy and on offering buyers and sellers full transparency and the widest and most comprehensive range of options for transacting residential Florida real estate. Along with this new offering, they will continue to offer full service and support for buyers and sellers that desire assistance with every step of the real estate transaction.

About Homekeys

HomeXperts Inc. d/b/a Homekeys is a South-Florida based developer, integrator and distributor of innovative Web-based content, applications and resources for the real estate market. The company offers Floridians more ways to buy and sell and rent, all backed by Homekeys’ innovative technology and services.

HomeXperts Inc. d/b/a Homekeys is a real estate broker in the State of Florida licensed (License CQ1019055) by the Florida Real Estate Commission through the Department of Business and Professional Regulation, Division of Real Estate. HomeXperts Inc. d/b/a Homekeys is an Equal Housing Opportunity Corporation and abides by the Code & Ethics of the National Association of REALTORS

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