Frequently Asked Questions about listing on the Tulsa MLS.
Yes, the vast majority of homes are sold through the MLS due to the large network of agents working with home buyers. The National Association of REALTORS® (NAR) reports homes listed by agents result in a higher net price to sellers compared to for sale by owner (FSBO) home sale transactions.
Statistically 87% of all buyers will use an agent to purchase their next home. So yes, being on the Tulsa MLS will dramatically increase your chances of selling your home faster.
Yes. Tulsa area agents that sell and buy use the Tulsa MLS to search for properties for their buyers.
No, they are separate and distinct services with different websites and usage. Realtor.com is run by The National Association of Realtors® and picks up all the Nationwide MLS Listings from the hundreds of Multiple Listing Services around the Nation and puts the property information in their website. Agents will use their local MLS database to find properties for their buyers. They will not use Realtor.com, Zillow, Trulia or other national websites.
NO. There is no FSBO MLS System. The general public is not allowed to list their own property in the Multiple Listing Service. Only a State Licensed agent may access their regional MLS to list a property for sale, or find homes for buyers.
NOTE: Please be aware in order to get your property listed in the Tulsa MLS system it has to be listed by a licensed Real Estate Listing Broker that is a member of the Tulsa MLS board. There is no additional money you pay to the listing broker to list your property. An agent has to be involved in order for your property to be listed into the Tulsa MLS then it will syndicate to REALTOR.com®
Since you are paying up-front to be listed on the MLS there is no-risk to the listing broker. In a traditional real estate listing, the listing agent isn’t compensated unless the house sells, so there is a huge risk. They will not be compensated for their time and advertising expenses if they house does not sell.
It is not likely. Of course, there are a very few exceptions. Agents operate completely from MLS computer listings. The MLS Listing Agreement specifies the agents commission and without this agreement agents will bypass For Sale By Owner homes. Of course, you may sell your home without a agent, but once listed; agents do not regard you as a For Sale By Owner but simply another listing for them to sell. Agents will generally avoid For Sale By Owner properties due to the fact that they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to a Buyer’s agent, the buyer could cut the agent right out of the deal and negotiate directly with the seller. The MLS listing protects the buyers agent.
Yes. Your MLS Flat Fee Listing will look the same as any other listings. There is no way to tell how much you paid to get on the MLS. Regardless of whom you listed with or what you paid, your listing will look no different from any other listing in form and style. Our flat fee listing method gets your property on the same MLS used by Tulsa area agents. Your listing will appear the same as all other MLS property listings. Agents just want to know they will be compensated and the normal going rate is 3%.
No. Agents want to find a home that meets their buyer’s needs as quickly as possible, as long as they get paid a competitive commission for bringing the buyer. It is extremely rare that a agent would refuse to show a home that pays them a competitive commission and meets their buyer’s needs plus federal law prohibiting a boycott, but it is extremely rare.
It is more common for a listing agent with hopes of listing your home themselves to say that agents won’t show your home to their buyers. While making this statement violates Federal Law and the Realtor Code of Ethics, realize that this is attempted to list your home because the agent doesn’t have a good reason why you should pay their higher commissions.
Other sites say it doesn’t matter but it does help knowing your listing agent is familiar and current with the Tulsa, MLS system. Another advantage is agents working with buyers that need to get in touch with the listing broker knows the office is here in Tulsa not somewhere in California or Texas. Your local listing company will communicate with other local agents. You will not just be thrown on the MLS like other companies.
Let’s say someone calls you from your yard sign. That would be your buyer because they are not working with a agent. So in this situation you would not pay a commission because no agent is involved or representing the buyer.
When a agent wants to show your listing to their buyer they will look under the “Broker Remarks” for showing instructions. We now have the option for you to use our Central Showing Service (CSS) for agents to set up appointments with the seller. This is a great tool for both parties plus the showing agent will give feedback on the showing which will be made available to the seller. You also have the option to have agents call you directly to set up a showing.
Yes, you can cancel your listing at any time. Just notify your listing agent you wish to cancel your listing.
You can email or call your listing agent to make changes after reviewing the MLS Listing – there is no charge for changes. We also don’t charge a “transaction” fee like other companies.
No. If you find a buyer for your home with no buyers agent being the procuring source, there is no commission to pay.