NEW YORK FLAT FEE MLS

1. New York Flat fee MLS is a term used to describe a practice in the New York real estate industry in which New York (NY) realtors place pertinent information about a New York property for sale into the database of a New York (NY) 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.

2. The flat fee that the seller pays replaces the much higher listing fee, usually 2.5% to 3.5% of the sales price, that is otherwise paid if the seller were using a full service listing broker in his/her local area. In return, the homeowner’s property is advertised on several different national websites, including Realtor.com, as well as locally for a specific period of time (or until sold). The net effect is to limit brokerage services and to provide the seller with greater control and flexibility.