Frequently
Asked Questions
The MLS is the best and only way to sell a property. 90% of all
properties are sold as a result of the MLS.
The MLS is a tool for realtors to list and sell properties. The
listing real estate broker for your area is going to list your property
in the MLS for the flat fee of $297. If you do not wish to pay a
commission (as a result of a real estate agent bring you a qualified
buyer), you cannot get listed in the MLS. The MLS rules require
that a commission be listed up front for every property that an
agent enters into the MLS.
If a real estate agent brings you a buyer, you must pay a commission
at close of escrow. You cannot be listed in the MLS if you did not
wish to pay a commission if your property sells thru a real estate
agent. The commission must be specified up front on the paperwork
that you will complete after making payment. If you sell your own
property as a "for sale by owner" there is no commission
to pay anyone.
Commission Questions
Lockbox, Sign & Photo Questions
Items listed on the order form page may vary at any
time without notice. Not all agents offer exactly the same included
items. We may have to change agents temporarily due to current agent
out of town, or for any other reasons. If this happens, your included
items may vary.
You get 1-photo included INCLUDED with your MLS and
Realtor.com listing. However, some agents include more photos in
the MLS or for an additional charge.
You get 1-photo included INCLUDED which appears on
Realtor.com. This is the same photo that appears on the MLS. However,
some agents include more photos on Realtor.com or for an additional
charge.
You may also get a sign or realtors lockbox from the
listing real estate agent - Some agents include a sign, other agents
charge a fee for the sign. Agents that offer a lockbox, always charge
for it, which you pay them directly for. The SELLER can purchase
a mechanical lockbox from any hardware store (Ace, HomeDepot or
Lowes).
Listing Questions
Internet & Website Questions
Sales Purchase Contract Questions
General Questions
What is the
Multiple Listing Service? The Multiple Listing Service (MLS)
is the key to Home-Sales Success. The MLS lists the vast
majority of real estate listings which are listed "for sale"
by real estate brokers and their agents. All types of real estate
property is listed in the real estate multiple listing service;
houses, townhomes, condominiums, commercial property, lots, acreage
and even rental properties. There are 1000s of regional Multiple
Listing Services located thru out the nation. Real Estate Associations
in all 50 US states and Canada run their own MLS Systems. Statistics
show that homes listed on the MLS sell faster.
"The MLS" is the secret to success of real estate sales,
directly responsible for about 4 of 5 sales nationwide. About 85%
of home buyers use a REALTOR® to help them locate a property.
When a possible buyer contacts a Real Estate Agent regarding a home
purchase, the Agent will search the MLS for homes matching the buyers'
desires, wants and needs. Statistics show that homes listed on the
MLS sell faster. Back to Questions
Is
this the same Multiple Listing Service (MLS) to which all Realtors®
belong? Yes. All participating MLS REALTORS® belong
to their regional association of REALTORS®. The Listing Agent
that will be assigned to place your property in the proper MLS for
your region will be paid from the flat fee that you pay us - There
is no additional fee to pay the listing agent that is assigned to
list your property into the real estate multiple listing service. Back
to Questions
The
Listing real estate agent only gets paid a flat fee for listing
your property into the MLS.
Realtors
in our network provide services for a flat fee for two main reasons
– volume business and more exposure for their real estate firm.
Furthermore, if the agent lists your home and brings a buyer, they
receive the commission you have agreed to pay the buyer's agent.
Is
there a "MLS" which may be used by owners selling themselves,
without a REALTOR®? NO. There is no FSBO MLS System.
The general public is not allowed to list their own property in
the REALTORS® Multiple Listing Service. Only a State Licensed
REALTOR® Member may access their regional MLS to list a property
for sale, or find homes for buyers. This is the same MLS used by
REALTORS® in your area, one you will be listed in, which is
accessed by Agents in your area.
NOTE: Please be aware in order to get your property listed
into your regional Multiple listing Service it has to be listed
by a licensed Real Estate Listing Agent that is a member of the
MLS. This agent is assigned to you by us and gets paid by us - There
is no additional money you pay to the listing agent. A REALTOR®
has to be involved in order for your property to be listed into
the MLS and REALTOR.com® - Back
to Questions
Is the MLS the best
way to sell my home? Yes, the vast majority of homes are sold
through the MLS due to the large network of REALTORS® working
with home buyers. The National Association of REALTORS® (NAR)
reports homes listed by REALTORS® result in a higher net price
to Sellers compared to "FSBO" home sale transactions. Back
to Questions
Will Realtors Show
& Sell my home if it's not listed on the MLS? It is not
likely. Of course, there are a very few exceptions. REALTORS®
operate completely from MLS computer listings. The MLS Listing Agreement
specifies the REALTORS® commission and without this agreement
REALTORS® will bypass FSBO homes. Of course, you may sell your
home without a REALTOR®, but once listed, REALTORS® do not
regard you as a FSBO but simply another listing for them to sell.
Real Estate Agents will generally avoid FSBO 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. Back
to Questions
Will Realtors®
Show and Sell my home even though I paid for a Flat Fee Listing?
Yes. Your MLS Flat Fee Listing will look exactly the same as
any other listing. 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. The listing broker's name appears on the MLS. Our flat
fee listing method gets your property on the same MLS used by your
area REALTORS®. Your listing will appear the same as all other
mls property listings. Back to Questions
Is it True some Agents may
not show my home if they know it is a flat fee listing? Absolutely
not! That is a misleading and somewhat fraudulent representation
made by some Real Estate Agents in a clever attempt to dissuade
you from doing a flat fee listing. First of all, when the Agent
sees your listing on the MLS computer, there is no way the Agent
knows it's a flat fee listing. The Listing Agent's name and contact
information shown on your Multiple Listing Service will be your
Listing Agent. In addition, the listing
commission is not disclosed on the MLS! Even if the Buyer's Agent
somehow knew you were not paying a high traditional listing commission,
that would not effect the showings, since the Agent is not concerned
about the commission you are paying the listing broker. After all,
the Buyer's Agent ONLY cares about the commission offered to him/her
to sell your home, not how much you paid the Listing Agent!
Back to Questions
Will Realtors®
show and sell my home if I am not listed with their company?
Yes. The main purpose of MLS is for REALTORS® to sell each other's
listings. Back to Questions
How important
is it the listing REALTORS® office be in my neighborhood for
my home to sell? It does not matter. It's merely an often-used
false marketing method and fabrication to get you thinking it makes
a difference so you end-up listing with them. Comparatively few
potential buyers reside in your neighborhood. Most buyers come from
another part of town, different areas, another city, or out-of-state.
Even if a prospective buyer happens to live nearby, why would location
of the listing broker make any difference at all? Keep in mind,
a buyer who comes via The MLS in all likelihood already has a REALTOR®
who is their buyers' Agent. A buyer rarely hires the Listing Agent.
If the Buyers' Agent needs to contact the Listing Agent they normally
use the phone or fax to submit purchase contract offer . . . in-person
contact is never really needed. The listing broker could be located
in another city or even out-of-state, it really makes no difference.
Back to Questions
Who Will Realtors® call for Showings? You,
the Seller. The most common way showings are done, is the listing
broker indicates showing instructions on the multiple listing service
computer. This will say "Call Owner direct to arrange for a
showings" (giving your name and contact phone number). If buyer's
agent calls listing broker, he/she will refer the call directly
to you, to schedule the showing appointment. REALTORS® customarily
call Owner before showing the home. Back
to Questions
How
long should I expect to be on the market? Your home should
sell quickly if priced right, in a good location and shows well.
The MLS & REALTOR.com® will draw maximum attention to your
home. Back to Questions
How long will my property
be listed on the MLS for the flat fee? The MLS flat fee listing
is good for 6-months. Most homes are sold within a couple of months
or sooner. Rarely is a renewal of the listing needed. The agent
will offer renewal of the listing -- check with agent as to the
fee, which you pay him/her direct. Back
to Questions
Can I cancel my Flat
Fee Listing at anytime? Yes, you can cancel your listing at
any time. Just notify the listing agent you wish to cancel your
listing.
Back to Questions
Is
there a benefit to listing with a traditional high-commission broker?
NO.
Your listing will end up in the same MLS if you were to re-list
your property with a more Traditional Real Estate Agent charging
you higher commissions. Of course, there are no refunds once your
property is listed in the regional Multiple Listing Service Back
to Questions
What's included with
my listing? The MLS, REALTOR.com® &; and about 50 other
real estate internet sites, plus many extras as listed on the website
page. Back to Questions
What is the difference
between a "Selling Agent" and a "Listing Agent"?
- The term Agent means a Licensed REALTOR.® Some people use
the word Agent others use the word REALTOR® - it means the
same as far as descriptions go to the public.
- We provides a referral service to owners of
real estate property. Once you buy the service from us, we refer
your MLS flat fee listing to a Listing Real Estate Agent that
is a member of your regional MLS. This Listing Agent is providing
you with a tremendous service by listing your property in the
MLS, REALTOR.com®, etc. and saving you thousands of dollars
in real estate commission for the flat fee you paid - Once your
property is listed in the MLS, we then pay the listing real estate
agent.
- A Selling Agent is the Real Estate agency who actually sells
the property. They are sometimes called Buyer's Agents.
- The Listing Agent is the Real Estate agency who lists your home
for sale in the MLS. Back to Questions
Do I have
to pay a Commission if house sells because of the MLS?
Yes. Any REALTOR® bringing a ready, willing and
able buyer with a satisfactory contract will be due a "selling"
commission of your choice. This commission must be determined by
Seller when completing the Listing Agreement. This Commission paid
to the selling agent is shown on the MLS. Back
to Questions
How much commission
do I have to pay to the Buyer's Agent? The commission the
Seller pays the Buyer's Agent is totally up to the Seller. Real
Estate commission fees are not FIXED, fees are negotiable by LAW.
REALTORS® cannot demand the Seller pay a certain commission
to sell their home on the MLS. REALTORS® that demand the seller
pay 3% to buyer's agent can and will have their license revoked. Back
to Questions
If I find my own
buyer, will I still have to pay a selling commission? No.
If you find a buyer for your home with no Agent being the procuring
source, there is no commission to pay. Back
to Questions
Do I need a lockbox
while house is listed on MLS? Owner can decide whether or
not to use an optional key-lockbox, which is a metal container for
your house key(s) and is normally hung on the front door knob or
gate. The MLS Listing will advise Realtor's if they can not reach
you by phone, they may use the key lockbox for showings. It provides
access to Agents when the owner is away, thus assuring full exposure
to prospective buyers. Without a lockbox, Agents representing buyers
will have to set appointments to meet you at the house to view the
home. If you do not have a lockbox, you may miss out on some potential
buyers who do not have time to wait. Lockboxes are completely removable
and controllable by you. Your Listing Agent will indicate your showing
instructions on the MLS and contact phone number to call you first
for showings. Showings are most always done on an appointment only
basis (assuming key lockbox is not used if unable to reach you).
It is rare an Agent will knock on the door without first making
appointment with the homeowner. If you want a REALTORS® electronic
lockbox you can request one from the listing agent (not all flat
fee listing agents have or use electronic lockboxes, due to the
cost and delivery time required for installation and removal from
door with special key only real estate agents have.) The listing
agent will lease one to you for a fee.
Back to Questions
I have a For Sale
By Owner sign, should I use the Realtor's sign? South Carolina
MLS rules forbid a seller to use a "For Sale By Owner Sign"
You must use the realtor's sign or no sign.
Back to Questions
Can I use my own
exterior home photo for the MLS? Yes, it is recommended
that you send via email to the listing real estate agent the photo(s)
in jpg format. However, it is highly recommended to let the MLS
photographer* take a professional photo of your home. Once inputted
into the MLS, the photographer is dispatched to take the photo.
Photos usually uploaded to the MLS within a few business days. The
MLS then transfers the photo to the public internet sites for your
area. *subject to some MLS regional restrictions - some MLS have
a photographer to take an exterior photo and others do not have
a photographer to take a photo. If the MLS does not have a photographer
to take 1 photo, the seller can submit a photo via email to the
agent. Back to Questions
Can I have
additional photos added to the MLS or get a Virtual Tour? Yes.
After you get listed on the MLS ask your Real Estate Agent for that
option. Many of the referral Real Estate Agents usually offer extra
photos for a small fee (some even do for free) and virtual tours
from $89 to $199 which is a reasonable additional fee. The cost
is very minor compared to the benefit of saving thousands of dollars
in real estate commission. However, additional photos and virtual
tours are not necessary as the real estate multiple listing service
in all likelihood will sell your home, with or without paying for
extra cost services. Back to Questions
Do
you offer FREE forms and contracts? Yes, we currently have
forms available on our website. We are adding more forms for your
convenience. If your home sells thru the MLS, the buyer's
agent will prepare the purchase contract.Back to Questions
Why signup?
- We only work with licensed and experienced Real Estate Brokers
- Your property will be listed quickly
- We offer more exposure than any other company
- We give you more for your money
- We are open Weekends
- There are no hidden fees or charges
- INCLUDED forms, plus reports, etc
- No other offers as much exposure and coverage!
Back to Questions
What steps are involved in
getting my property listed in the MLS?
- Place your flat fee listing order
- The Flat Fee Listing Real Estate Agent that is a member of the
regional MLS for your area is contacted and given your contact
information
- The Flat Fee Listing Agent will typically
list your property within 24-48 hrs . . . after getting
your completed forms back, such as the Listing Contract, MLS Data
Sheet, etc.
- Your home is listed on the MLS, REALTOR com® & other
websites as soon as you return paperwork to the Listing Agent
Back to Questions
How
do I determine the sales price for my home? You can Click
on link below to get this information INCLUDED. We have heard from
many sellers that this service works extremely well --
Zillow.com
How
does information about my house get on the MLS? The Listing
Agent will have you complete the MLS Data Sheet. This Data Sheet
will require you to answer all questions listed, which will supply
Buyers with the type of information they require to see if your
home meets their buying criteria. The MLS Data Sheet fields cannot
be customized. You will however be able to write a description highlighting
your home's special features. The information on the Data Sheet
also goes to REALTOR.com®, plus all the public internet sites
for your area. Back to Questions
Can I add more
information to the MLS later? Yes. You can add information
to your listing, such as room dimensions or description by emailing
this information to the listing agent.. Back
to Questions
Can I make changes
to my MLS listing? Yes you can make changes. Contact the
listing agent by email with the changes. Back
to Questions
What
is the difference between public websites, such as REALTOR.com®,
and the MLS? Public websites like REALTOR.com® receive listings
directly from the MLS itself. Unlike the MLS which is updated instantly,
the public internet sites are typically updated every 1-2 business
days. Because of this, REALTORS® only use the MLS system, which
is a closed system linked to their offices. Back
to Questions
Can I go to a website
and see my MLS listing? Yes, the MLS is on the internet
and buyers can go and view all the listings. Plus in order to get
listed on REALTOR.com® you have to first be listed in the MLS.
Back to Questions
Can I
go to a website to print and email color brochures of my listing?
Yes. REALTOR.com® offers the ability to print and/or email color
brochures of your listing to hand out to potential buyers. Back to Questions
What Internet sites
will my listing appear on? According to Realtor.com your
listing will appear on 50 real estate internet sites, such as; REALTOR.com®,
MSNhomes.com, Homes.com, Homestore.com, Homeadvisor.com, Yahoo.com
and others. Plus licensed REALTORS® can display all of the MLS
listings directly on their own private website.
Back to Questions
How long will it
take for my MLS listing to appear on the public internet sites?
The MLS sends listing information at different times to the different
public internet sites. Once your listing is entered into the MLS
system, it appears instantly to REALTORS® and their buyers.
Back to Questions
Can
I ONLY get my House listed on REALTOR.com®? No. You
have to get listed into the MLS before your listing can appear on
REALTOR.com® -- Back to Questions
Is
the Listing Agent involved with the sales contract? Typically
No -To save on commission, you will handle many details of the sale
yourself. The Listing Agent is mainly getting paid to list your
property on the MLS, as you requested. If the Seller requests assistance
with the purchase contract, counter-offers, placing contract in
escrow, contingency issues, closing & settlement matters - the
Listing Agent offers extra services for a reasonable additional
fee. If you want or need additional assistance involving your transaction
(though you should be able to handle things yourself) ask your Agent
about other available services. Most of our associates offer additional
optional services. Back to Questions
Is
the Listing Agent involved in negotiations? No, not unless
you specifically request the Listing Agent's consultation. You will
handle all showings, inquiries, and sales contract presentations
on your own. Back to Questions
How
can I get my contract reviewed? The Listing Agent is the
most knowledgeable and qualified person to review the contract for
you, which many do for a small fee, some do it for FREE. Back to Questions
Once my paperwork is received, how
long before my home is listed in the MLS? Depending on the
time of day, listings are usually inputted into the MLS system the
same business day everything is received. Back
to Questions
How do I pay for
my MLS listing? Payment is made in advance with: via Google or PayPal. Back to Questions
Is REALTOR.COM
and THE-MLS SYSTEM THE SAME? 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.
Who uses Realtor.com? Do Realtors® access it?
Anyone can access and use it but NO, it's rarely used by Real Estate
Agents. It's designed for and mostly used by private parties who
want to search for appropriate properties thruout the nation.
Back to Questions
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