Question 1

How does a flat fee MLS listing work in Illinois?

Accepted Answer

A flat fee MLS listing allows you to list your property on the MLS for a set fee instead of paying a traditional percentage-based listing commission. With Circle One Realty, your property is listed in the MRED MLS and distributed to major real estate websites such as Realtor.com, Zillow and other sites that receive MLS listing data. You work directly with Circle One Realty for broker support while retaining the ability to handle many aspects of the sale yourself. Circle One Realty can also assist with pricing, negotiations, paperwork and other parts of the transaction.

Question 2

What is MRED?

Accepted Answer

MRED, or Midwest Real Estate Data, is the Multiple Listing Service (MLS) used by real estate professionals throughout the Chicagoland area and surrounding parts of Illinois. When you list your property with Circle One Realty, your listing is entered into the MRED MLS, where it can be seen by participating real estate professionals and distributed through MLS-connected real estate websites.

Question 3

Will my home be listed on Zillow and Realtor.com?

Accepted Answer

Yes. Circle One Realty listings are distributed through MRED to major real estate websites, including Zillow and Realtor.com, as well as other websites that receive MLS listing data. The exact appearance and timing of a listing on third-party websites can vary because those websites control how they display MLS data.

Question 4

Do I still work with a real estate broker?

Accepted Answer

Yes. Circle One Realty is a licensed Illinois real estate brokerage, and your listing receives broker support from Ryan Cherney throughout the process. Unlike an out-of-state referral company or call center, Circle One Realty is locally owned and you work directly with an experienced Chicagoland broker. Ryan can provide guidance regarding the listing, offers, negotiations and required paperwork.

Question 5

Can I offer compensation to a buyer's broker?

Accepted Answer

Yes. Offers of compensation to a buyer's broker are negotiable. Sellers can choose whether to offer compensation and, if they do, the amount is negotiable and handled outside of the MLS. If you are considering offering buyer-broker compensation, Circle One Realty can help you understand your options as part of the listing process.

Question 6

Who handles showings?

Accepted Answer

The seller typically handles showings and works directly with prospective buyers or their agents. Circle One Realty provides guidance and support, while sellers can choose how they want to manage access to their property. Depending on the listing package, Circle One Realty also offers showing appointment scheduling services to help coordinate showings.

Question 7

How do I receive and respond to offers?

Accepted Answer

When you receive an offer, Circle One Realty can help you review the terms, understand your options and negotiate with the buyer or buyer's agent. Ryan provides broker guidance throughout the negotiation and paperwork process, helping you evaluate offers and respond appropriately.

Question 8

Does Circle One Realty provide support throughout the transaction?

Accepted Answer

Yes. Circle One Realty provides broker support throughout the listing and transaction process. Ryan can assist with questions, offers, negotiations, required paperwork and other issues that arise during the sale. The goal is to provide the professional guidance of a real estate broker while allowing homeowners to save money by using a flat fee listing model instead of paying a traditional percentage-based listing commission.

Question 9

Does Circle One Realty serve my area?

Accepted Answer

Circle One Realty provides flat fee MLS listing services throughout the Chicagoland area and other Illinois communities served through the MRED MLS system. Service areas include communities throughout numerous Illinois counties. Visit our Illinois Flat Fee MLS Coverage page for the current list of counties and communities, or contact Circle One Realty at 630.528.2300 to confirm coverage for your property.

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