Q: What is the Multiple Listing Service? A: 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 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.
Q: Is there a "MLS" which may be used by owners selling themselves, without a REALTOR? A: 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 from every major company, Coldwell Banker, Weichert Realtors, Re-Max, Century 21, Prominent Properties etc.
Q: Will buyer agents show Homes listings if they make less than 2.5%? A: Some agents competing for your listing utilize scare tactics to convince you that buyer agents will not show your home if you don’t pay a 2.5% or 3% commission to the buyer agent. This argument is solely designed to get you to pay their firm more money? Ask your agent how other firms are able to sell the homes with lower commissions? Also ask them how many other listings they have at a lower commission that have sold. The fact of the mater is that thousands of homes are successfully sold paying buyer agents 2 percent in our markets. When it comes to steering buyers, the vast majority of agents are honest good people. They know that arranging showings by amount of commission earned is a violation of the Code of Ethics of the National Association of Realtors and immoral behavior at best. The agent who really cares about their client has no personal incentive to steer their buyer to the highest commission. These buyer agents also know that buyers are out actively searching for homes and don’t care if their agent earns more commission. Like every business, a small minority of agents probably do show homes in order of commissions paid. But honestly, that is not the agent you want to be involved with. Don't be fooled by self-serving fear tactics.
Q: If I list Flat Fee will Agents show my home? A: 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.
Q: Is Flat Fee Listing For everyone? A: NO! That is why we offer programs designed around your needs. Not all sellers have the time to be available for showings, or feel comfortable with the whole real estate proccess. One-size-does not fit all, that is why we give you, the consumer, choices so you don't have to go it alone or pay high commissions for no reason. With our upgrade program you can start out Flat Fee and if you find more help and services are needed we adjust the program to fit your needs.
Q: What influence do real estate agents have over the market? A: The answer is very little. Below you will find listed the major items that influence your home sale and who controls the item:
Price: The buyers dictate home values. A homeowner can set any price they choose, but the home is not sold until a willing and able buyer agrees to a certain price and completes the transaction. Factors influencing buyer’s ability to pay top dollar for a home include: interest rates, personal income growth, tax laws, consumer confidence, etc. The seller and the real estate agent have no control over these underlying economic issues. The real estate agent must be able to help the homeowner set a reasonable expectation of asking price or risk having the home be ignored by the market. In addition, if the appraiser does not agree with the price, you will risk the having the transaction cancelled when the buyer cannot get his loan approved.
Location: Your property's location is not subject to change.
Condition: The condition of your property will have a huge impact on your ability to sell your home. This is under the home seller's direct control.
Ease of Showing: The ability for buyers to access your home is critical to building a sense of competition between buyers early in the listing period. If the home is difficult to show (no lockbox, large dogs, etc.) you will be limiting your ability to attract buyers. Again, this is under the home seller's control.
Exposure: Like any product for sale in this country, the more exposure your home receives, the larger pool of buyers will be reached. Obviously, when a home reaches a great number of prospective buyers, competition for the home intensifies and the home will sell at its highest potential value. This is the only area under the direct control of the real estate agent.