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Below are some of the most common questions we are asked.
MLS stands for Multiple Listing Service. It is an online database that only licensed real estate agents have access to. It is the primary tool that agents use to find homes for their buyers. So if you want agents to show your home, being in the MLS is essential!
Your price should be determined by assessing the sale price and asking prices of the properties surrounding you that are comparable to your property. If you require assistance with pricing your property, simply select the CMA option and a member of our staff will prepare a market analysis of your property to help determine the best asking price for you. You are under no obligation to use our recommendation. It is simply a tool to help you assess the market.
Every time someone contacts our office about your listing, the lead will be forwarded directly to you by e-mail for follow-up. You will then have an opportunity to show them your house and hopefully secure them as a buyer or tenant! If this lead is not being represented by an agent you will likely be able to avoid paying any commission!
Realtors will contact you directly per the instructions you provide to show your property and schedule a time directly with you.
There will be no additional fees to you unless you elect to choose additional services offered by company. However, if you sell the property through the MLS and a buyer's agent is involved, following industry standards, we do collect a $295 fee from the buyers agent's portion of the commission. This is customary and disclosed to agents in advance who are looking to show your property. Doing this allows us to keep our listing fees to the seller as low as possible.
Traditional listing compensation structures will "split" the commission between the listing agent and the buyer's agent. Therefore, if you are paying 5-6% at the closing, the buyer's agent would normally expect about half or 2.5-3%. For this reason we recommend that you offer 2.5% to a buyer's agent in the MLS. This will insure that agents will be motivated to show your home to potential buyers. However, the choice is yours to make and you may offer more or less depending on your desire and situation.
Once you locate a buyer for your property, either through another Realtor or on your own, simply contact our office to inform us of your situation. We will most likely request a copy of the contract so that we can use it to update the MLS accordingly.
If, at any time during your listing, you wish to cancel or terminate your listing, simply submit your request to do so and we will terminate your listing without penalty. Unless the property is already under contract, then we must keep it listed and update the states to SOLD once it has closed, per the MLS rules.
When a listing sells and there is an agent involved we collect a transaction fee at closing from that agent's commission. However that does not apply to rentals, therefore we must collect slightly more up front. In addition, rental listings tend to generate more leads than sale listings meaning there will be more administration on our end to ensure owners get their leads.
Traditional listings will offer agents anywhere from $200 to half of one month's rent. This will insure that agents will be motivated to show your home to potential tenants. However, the choice is yours to make and you may offer more or less depending on your desire and situation.
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