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FREE Guide
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"I
wish we would have listed our home with you first. We had an
offer after only 9 days thanks to your incredible advertising exposure,
and less than two weeks later our home sold for 99.3% of asking
price. Thank you!"
~Tom
& Sandra Woods
"Having
dealt with other real estate agents in the past, I am clearly convinced
that your knowledge and ability to service your clients far surpassed
the others. I was amazed when my home sold for the price I
wanted, and in less than 3 days!"
~Richard
Kern
>View More Testimonials
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| Frequently
Asked Questions |
We have found that with home sellers, many of the
same questions come up over and over. To help out, we have compiled a
list of our most common "Frequently Asked Questions"...
General Questions
MLS Questions |
| General Questions |
Do I need to come to
your office to be listed on the MLS, Realtor.com or your web site?
No, you don't have to visit our office to get
listed on any of these sites. Our services are set up to maximize your
convenience. The necessary paperwork can be emailed, faxed, or mailed
so there is no travel, appointment, or time-consuming meeting necessary
to get listed on these sites.
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If
I use your services to list my property on the MLS, Realtor.com or your
web site, can I still hold an Open House or run ads by myself?
Yes you may hold Open Houses as often as you would
like and you may also run as many ads as you would like to. If you find
a buyer who is not working with an agent you will not have to pay the
co-op 2.8% fee nor will you owe us any more money. You of course have the option
of hiring us to complete the contract negotiations and manage the details to closing for you.
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What is the difference between a Comparative Market Analysis (CMA) and an Appraisal?
A CMA is compiled by a licensed real estate agent
who is using comparable properties from the MLS. This provides an
estimate of what the agent thinks the home will sell for based on your
home's size and condition, the location, and the current market
conditions. It is wise to have a real estate agent do a CMA on your
home before putting your home on the market. This way, you can see what
potential buyers will be using to decide how much they will offer on
your home, and you will have ammunition to defend your price as well.
An Appraisal is compiled by a licensed real estate Appraiser.
Institutes that lend money to buyers require that an Appraisal is
provided so that they are insured they are not lending more money than
what the home's current value is. An appraisal is typically paid by the
buyer and is sometimes needed if a homeowner is refinancing their home.
The Appraiser is also taking their comparables from the MLS but is
using a developed formula to arrive at the current value of the home.
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| MLS Questions |
What is the MLS?
The Multiple Listing Service (MLS) is a cooperative
marketing system which allows professional Realtors to share
information about real estate for sale. It is a comprehensive database
which is shared by all Real Estate Brokerages (i.e. ReMax, Coldwell
Banker, Keller Williams, etc.). It is the most powerful marketing tool
for a homeowner to sell their home. Today more than 70% of all homes
are sold as a direct result of the MLS's enormous targeted exposure.
The database consists of the most up to date information on properties
listed for sale. Regardless of which company an agent works for, he or
she has access to the same data base through their local board of
Realtors. The MLS provides the biggest marketing advantage in selling
houses because this is the first place where Realtors® go to
find properties for their buyers. If a Realtor finds a buyer for a For
Sale By Owner home the seller will only pay a 2.8% to 3.0% commission
of the sales price (vs. the normal 6-7%).
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What are the advantages of listing on the MLS?
When you enter your home in the MLS and offer a
Realtor a 2.8% co-op fee to sell your home, you are putting thousands
of local Realtors to work for you to find an eager, qualified buyer for
your property. You will gain the greatest exposure and let the majority
of qualified buyers know that your home is available. By using the
limited service MLS, the seller has agreed in writing to pay a
commission of 2.8% of the purchase price, to a Realtor upon a
successful closing. This will cut out those agents who waste your time
by telling you they have a "so-called-buyer" for your home, when really
they are just trying to list your home. When a realtor calls, they
really will have a "legitimate, qualified buyer". It will stop the
relentless badgering from annoying Realtors® and Investors.
Survey results from NAR (National Association of Realtors)have shown
that 50% of sellers first try to sell their home without using a
Realtor but that only 16% of sellers actually sell their home without
exposure in the MLS. Unfortunately, many of those sellers end up giving
away their commission savings to the buyer to close the deal. Buyers
often expect discounts when they see that the seller is not paying
Realtor commissions.
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What is the difference
between my local MLS and Realtor.com?
The NAR (National Association of Realtors)
prohibits Realtors from including the contact information of the seller
on Realtor.com directly, because it's publicly accessible. Do not
confuse Realtor.com with the Realtor MLS. They are two separate
systems, even though they are both operated by the Realtors
Association. Realtor.com (NAR) downloads property data from the local
Board of Realtors and makes that property data available to the public,
on a limited basis. Realtor.com is not a "For Sale By Owner" website,
and so therefore, a seller's contact information is not available. It
is acceptable to list the seller as the property contact on the local
Realtor MLS; that's because it is ONLY accessible to Realtors. We list
you as the contact on the local MLS. With limited service MLS, our goal
is to provide you with a legitimate way to save at least half of the
commission you would normally pay. You can expect to pay 2.8% to a
buyer's agent. If you locate a buyer on your own and there is no
Realtor involved, you owe no commission.
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When I purchase the
MLS listing service from you am I signing a Listing Agreement with you
or your company?
Yes, but it is a "limited services" agreement,
and you will not owe us any additional fees once you sell your home. We are strictly providing you a "Limited
Service" listing on the MLS. That means that you will be the person who
is contacted for showings or questions regarding your property. You
will be the one who receives any offers on your home, completes
negotiations, and follows through with all other activities through to
closing or escrow. Please view our dropdown menus for a
selection of more in-depth services (i.e. if you want us to help you
with negotiations or for full service listing options).
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Can I cancel my limited service listing agreement?
Yes, you are allowed
to cancel your limited service listing agreement (with no refund) as
long as it does not have a pending contract or any commissions due to a
Realtor.
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What telephone number
will be on my MLS listing?
All buyers and real estate agents with buyers will
be instructed to contact you directly to either set up showings or to
have any of their questions answered.
You can also purchase our Showing Service to handle setting up Realtor showings for you. This service also includes collecting feedback from any Realtor showings.
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Is any special
designation given to a limited service MLS listing that essentially
singles it out as a FSBO (For Sale By Owner)?
No, there is not any special designation listed on
the MLS. In fact, the NAR's (National Association of Realtors) policy
on this is zero discrimination tolerance. Local boards have been
instructed by the NAR that they can not discriminate against discount
brokers because it violates trade laws. Realtors do not care if you are
trying to sell your home on your own, as long as you are offering them
a commission for bringing you a buyer. They know that statistics are in
their favor that they will locate a buyer first.
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Will my MLS listing
look the same as other listings on the MLS?
Yes, your listing will be identical to the listings
of competing real estate companies. It will show a photo and all the
same listing information. Generally, it will show the commission rate
offered to an agent who successfully sells the home, and instructions
for showing the home.
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What happens if I am
listed on the MLS but I sell my house myself... do I still owe a
commission?
No. When you purchase our MLS service, you still
maintain the right to sell your home on your own. If you find your own
buyer, you will not be obligated to pay a commission on the sale.
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Is there a situation
where I would have to pay a Realtor's commission if my home sale does
not successfully close?
The commission is only paid if the buyer actually
purchases the property and the closing is successful. In the unlikely
scenario that your buyer is unable to complete the transaction, you do
not owe the buyer's agent a commission. Assuming that you don't break
the purchase agreement that you previously agreed to in writing, you
only pay a commission upon the successful closing of the sale of your
home.
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Can I upgrade to a full service listing with you?
Yes, you can
upgrade services to a full service listing. The flat fee listing
that you paid for will be credited towards a full service listing when
the property sells and closes.
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What should I offer the selling Realtor as a commission to sell my home?
We suggest that
you offer 2.5% to 3.5%, depending on what is common in your area. Keep
in mind that the more you offer, the more motivated the agent might be
to sell your home. But feel free to offer whatever commission you like.
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How do I delete my
entry after my house is sold?
Simply contact us by email fax or phone and let us know you'd like to
delete the listing. We will take care of it for you.
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