If you are a home seller or a real estate agent. We have your answers covered. We get asked several questions and we try to include them here. Please take a moment and browse the answers.
Click on the + below to open the answer.
- For Home Sellers
- For Realtors
- 1. How are incoming leads or offers handled?More
When we get any leads for your property, we direct them to you and give them the contact information that you provided to us. You will be required to handle any showings and open houses yourself. If any offers come in, we receive them at the office and then forward them to you after a quick review. You will have the option of handling the offer completely privately, or upgrading to an additional package that provides offer assistance if you require it. The choice is yours!
- 2. What is an inter-board listing and WHY do I need it?More
Listing that appears on your local real estate board which is a private REALTOR site that is not available to the public. This lets buyer agents in your area know your property is for sale and that you’re willing to pay them a commission if they have a buyer for your property. Basic Package does not offer an interboard listing, so agents in your area will not be able to see your property, it is only visible on the public realtor.ca.
- 3. What happens after I sign up?More
When you complete your payment, you will be sent your listing package forms and instructions depending on which package you purchased. The Package contains detailed and user-friendly instructions on how to complete the forms and obtain required information. You can just follow step-by-step checklist and refer to sample images showing you exactly how to enter the information and where to sign. We recommend that scan your forms and supporting documents in compressed PDF format and email them to us as soon as completed. If not sure, give us a call or send an email. We are always happy to help.
Once we receive your listing package, we send you a confirmation email and the review of your listing package will begin. Our time commitment for the initial review is one business day. If additional information is required, we will write you a detailed list of all missing information and a list of any discrepancies found in the documents within your listing package. We are always available to answer any questions on required information and how to complete the forms.
As soon as your listing package is compete, you will receive a confirmation from us and we will post your MLS® listing within one business day.
- 4. If I decide to upgrade to a Full Service Listing, can the flat fee be refunded?More
Surprisingly.... The answer is YES! We offer reduced commission listing alternatives, and a competitive money back option for Sellers who wish to convert to our full listing service at any time during their initial Mere Posting. If you consider full listing service as your “plan B” alternative, we allow you try the Flat Fee MLS® listing with absolutely no risk. When we convert the flat-fee listing into our Full-Service listing, the fees you paid will be deducted from our commission on closing.
- 5. Who is responsible for the accuracy of information on MLS® System?More
Under the MLS® Rules and under the Provincial Laws, it is REALTORS® who must take responsibility for the accuracy of information that they post on MLS® System. REALTORS® must make reasonable inquiries to discover and disclose material facts affecting the value of the property. However, this does not mean that they have to provide an absolute warranty for the accuracy of the information in all circumstances, and it certainly does not relieve the Sellers from their legal and contractual obligations to make true statements and honest disclosures.
To ensure compliance with these provisions, our Listing Agreement requires all Sellers to provide certain documents to support their marketing claims about the property and to personally certify and guarantee the truthfulness of information and all disclosures. Our policy is to make reasonable inquiries to verify pertinent information on a Listing, but we also rely on the Seller to make true statements and honest disclosures.
- 6. Do You Offer B2B or Wholesale Packages?More
Yes, we have bulk listing partner options for new home builders and have REALTORS® that use our unique jump system to manage their mere posting clients. Contact us for more info.
- 7. Can I Post My Rental Property?More
Yes, we can post long term rentals on MLS® and REALTOR.ca
- 8. How will my listing appear on REALTOR.ca?More
The posting of your property is exactly the same as if it was completed by a full service REALTOR® Similar forms are used and the information is subject to the scrutiny of the real estate board and its MLS® rules. The forms basically indicate that you are not represented by a REALTOR® and are selling privately.
- 9. Can we show our contact information on the listing?More
No. Nowhere on the REALTOR.ca posting can the contact information of the seller appear. On the front end we can provide a link from the REALTOR.ca listing directly back to your full page listing on the FlatPrice.ca website where we are free to publish the contact information, photos, private website address and any other information you might have related to the private sale including any buyers agent incentives.
- 10. Why in some cases do you ask for a copy of our Assessment Property Valuation Information?More
We need to be sure we have accurate information on the property. Errors in property details are not acceptable on REALTOR.ca. The easiest way to do this is to extract the information from the government supplied form.
- 11. Can you make changes to the listing once it is advertised on REALTOR.ca?More
Yes, changes of all kinds are allowed. Changes usually take 48 hours to process and must be requested via our MLS® change request form. Contact us for this form. Depending on what package you purchased, the change may be subject to a $25 fee.
- 12. Should I let other agents show my property?More
Sure why not, the property is being posted on MLS® so other agents will see it too, and while it is unlikely that a REALTOR® will want to show your home to a buyer (unless you are offer some cooperation incentive to a buyers agent), you must allow REALTORS® to show your home if they ask permission to do so. If you decide you want to work with local REALTORS® in selling your property you must be willing to pay them a fair fee for their work. That fee is to be negotiated directly between the seller and the agent that has brought an acceptable offer. In most cases you may not be offering any incentive to a buyers agent so you would be offering only $1 as a commission (it’s a technical requirement because it can’t be zero).
- 13. Can you have your property appear on the on the REALTOR.ca website without going through a REALTOR®?More
No, but according to the new Consent Agreement between the Canadian Real Estate Association and the Competition Bureau, the public can post their property on MLS® when dealing with a REALTOR®, or in our case, a posting brokerage that is a member of a local real estate board and therefore has access to the MLS® system and REALTOR.ca. In other words, you still need a REALTOR® or Brokerage to officially post it to the MLS® system on your behalf and that listing is now technically called a “mere posting” meaning that the agent does not represent you in the sale of the property and it’s still officially “for sale by owner”.
- 14. How much commission will I pay to list with FlatPrice.caMore
There is no commission. We simply charge a flat advertising fee (depending on your location) based on the marketing services provided. The fee is based on our cost of posting your property on a local real estate board plus the logistics associated with advertising your property and distributing it across our network to additional sites like: HomeSalez.com Canada’s private sale real estate classifieds network! Kijiji.ca, Craigslist.org, Trovit.ca, Vast.com and other partners and to social media giants Facebook.com, Twitter.com and Pinterest.com.
- 15. What area do you cover? What if my town is small or property is rural can I still can on REALTOR.ca?More
We can help advertise properties on REALTOR.ca for homes located all throughout Ontario.
- 16. I heard private sellers can’t list directly on REALTOR.ca (MLS®). How do you make this happen?More
We are a licensed Real Estate Posting Brokerage who are members of the Multiple Listing Service (MLS®), believe in fairness and have chosen to operate as a posting brokerage that fulfills a “Mere Posting” service on behalf of private sellers like you. In part because the competition bureau helped open up the rules. A “Mere Posting” is the technical name given to a listing posted on the MLS® system that appears on REALTOR.ca but is for sale by owner not by an agent.
- 17. What is a Flat Fee Listing, MLS® Listing or Mere Posting In Canada?More
Simply put… it’s a property listing that is for sale by owner but advertised on REALTOR.ca (formerly MLS.ca or ICX.ca and affiliate IDX® sites, mobile sites and the REALTOR.ca smart phone app), on behalf of the private seller via a listing on a real estate Board’s MLS® System for a flat fee and with none of the any traditional REALTOR® services or commissions!
- 18. Do I have to offer a commission to a buying agent?More
No, you do not have to offer a cooperating broker commission. However, we do strongly encourage offering a commission because it will give any buying agents an incentive to show your property so you can get it sold as quickly as possible.
- 19. Will my information be displayed on MLS/Realtor.ca?More
MLS rules & regulations state no personal information can appear on their site. Leads will come to us and we simply forward them to you in real time. We do NOT call any leads from buyers or agents.
- 20. Who needs to fill out the paperwork?More
The paperwork needs to be signed by ALL owners of the property. We will also require copies of identification of all owners.
- 21. Do I have to list my property on www.FlatPrice.ca if I upgrade to MLS/REALTOR.CA?More
Yes, www.FlatPrice.ca is like your command center for your listing. We also use this listing for additional information for your MLS/REALTOR.CA listing.
- 22. When will we get our sign?More
Signs are normally sent out once or twice a week, so it will be a few days before you receive it.
- 23. How long does it normally take to list my property on MLS?More
1-3 business days, once we receive your COMPLETED paperwork.
- 24. What kind of paperwork is it?More
Standard OREA listing forms that gives us permission to list yourproperty on MLS/REALTOR.CA.
- 25. I need further help, who can I contact?More
We're ready to help you with any issues or questions you have during the process of listing your property. Please take a look at our detailed walkthrough, or contact our friendly and helpful staff and we'll respond to you as soon as possible.
- 26. How visible are basic listings?More
Thousands of viewers come to Flatprice.ca to look for properties like yours. As adding your listings to our site is absolutely FREE, it's a cost effective way to get your property seen by potential buyers.
- 27. Are there any hidden fees to listing my property?More
No! None! All property listings are made 100% free of charge.
- 28. What other services do you offer home sellers?
- 29. I Run A For Sale By Owner Classifieds Website, Can You List My Clients On MLS® too?More
Yes, we have a few partner programs based on either preferred pricing and/or lead affiliate based compensation. Contact us for more info. This extends to mortgage brokers, classified ad publishers and other FSBO site operators. Our unique jump link system can help direct buyers off REALTOR.ca onto your own website or your clients website/ad.
- 1. What happens the moment I join?More
Once you join, we have an orientation to go over the new way of selling real estate so you understand the paperwork and forms. Once this is done, you'll be ready to sell flat fee and full service listings with us. This system offers so much opportunity and flexibility.
- 2. How is money collected for Flat Fee Listings?More
All website sales go through the main office first and we try to up sell them to use our agents. We put leads out on rotation, however if the lead is sent to you and you have not communicated with our office you will lose the lead and rotation within 4 business hours and it'll be sent to another agent. The goal is for the client to be handled in real time. Sometimes we are busy and away on vacation so this is ok. We just have a standard of communication with our clients. It also helps you to be successful. So the moment we send a lead, we give you a time you must contact both the lead and office to confirm.
- 3. How do Flat Fee Listings work? Do I show the houses?MoreThe sellers show the property, do open houses and handle the offers. All offers must be sent to the Brokerage and we forward them to you. You'll then contact the seller and offer them our offer assist services. Get them to upgrade to the ultimate package plus additional $500 on closing. We will show you how to do this. You are purely doing paperwork and communicating with the sellers weekly so they will contact you if they need additional services or want to move to full service.Approximately 50-60% switch to full service after a month or two. We keep improving our infrastructure to capture these leads so our agents can list them. It also all comes down to the agent, if they stay on top of communication.
- 4. Are you hiring Real Estate Agents throughout Ontario?More
Yes. We are a part of several Real Estate Boards throughout Ontario. We are also joining many other boards on a regular basis.
- 5. How smooth will you make my transition?More
Simple! We'll take care of your paperwork and guide you through the entire easy process. You should be up and running by the next day.
- 6. Is being a part of your firm a good match for me?More
Yes, Absolutely! Traditional Real Estate is old news. Technology is changing. Be a part of it! Let’s face it, in today's world everyone wants to save money. Many people try to sell privately first. They would rather pay a Real Estate Agent a flat fee with additional service options than a simple online ad.
- 7. Will my monthly fees ever increase?More
No, your monthly fees will stay the same. It's simple $95 per month. Take a look at what you pay now and you'll find that you're paying much more with all of your hidden brokerage fees.
- 8. If I have to reduce my commission to obtain a deal, do I need permission to do so?More
Get it done. Make the sale and put the money in the bank.
- 9. How would you promote me as a new agent to our firm?More
You'll be in several locations on our E-commerce website. You'll have an online store attached to our credit card merchant services so clients can purchase listings online. You'll have your own page with all of your listings so you can manage it anytime. You'll also have an option to have your own .com specifically created for you. We have other lead generating websites which we include your information.
- 10. Do you have training?More
Yes, we offer in house and online training. You will need to learn how to sell and list flat fee listings. It's simple, however you'll have a little learning curve. You'll learn how to sell additional services and how to sell every service available for home sellers. It's an exciting change!
- 11. Will I receive any Broker Assistance?More
Absolutely, as little or as much as you need. We are here to support you and are available when you need us, no matter what the concern.
- 12. How are office leads handled?More
This depends where in Ontario you're working from. We receive leads from a variety of sources including our websites, offices and traditional channels. These leads are distributed to all salespersons evenly by a computer program ensuring no one person is favoured.
- 13. Can I decide what commission rate to charge my clients?More
Yes. You always have the right to determine what commission is to be charged on any transaction without the need to get our approval.
- 14. What’s the catch? What hidden fees are you not disclosing?More
Absolutely none. You will not see additional charges for copies, faxes, technology, breakfast, flower fund or anything else. If we wanted to make money on those items we’d open a Kinkos.
- 15. Does everyone receive 100% commission ? Are there splits?More
Yes. Each and Every Saleperson receives 100% commission.