Flat fee MLS (a.k.a For Sale By Owner MLS or limited service MLS) is a term used to describe a practice in the real estate industry in which realtors place pertinent information about a property for sale into the database of the local Multiple Listing Service (MLS) for a set fee or dollar amount as opposed to a commission based on the contract selling price of the property. The seller's home is essentially marketed in cyberspace (i.e. cyberspace home selling) for a specific period of time (or until sold) for this one time flat (or fixed) fee. |
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