What Is The MLS And Who Owns It?
The MLS which stands for Multiple Listing Service is the primary tool real estate agents use to find a property when they have a buyer. For most agents, the MLS is the tool used every day to find a home for their buyers and for many agents it is the only tool they use to find homes. The MLS is not available to the public, only MLS Members can view the MLS listings. In recent years, most MLS systems have distributed some listing information to websites like Realtor.com and allowed MLS members to show some listing information on their own websites.
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What Telephone Number Will Be On My MLS Listing?
The listing broker telephone number (my phone number) will be on the listing and calls will be forwarded to you. The MLSPIN which serves the New England area does not allow non-broker information on the listing.
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How Does The Photo(S) Get Attached To My Listing?
You will take your own photo and submit it to us. We recommend that you email us a picture of your home because we can upload it to the listing faster, and you get to pick a photo you like.
If you do not have a digital camera (or can't borrow one from a friend, relative, or co-worker), we suggest you take photos with a film camera (even a cheap disposable camera) and pay for a photo CD when you get your film developed (all large & medium-sized film developers now have this option). This will enable you to put the CD in your computer, attach it to an email, and email it to us.
When selecting your photo(s), keep in mind that having a current photo is important, especially in seasonal areas. Most websites display your home information to the general public, so viewers will assume that the photo was taken when the home was listed. So, if you are located in Michigan and you list in January with a beautiful spring photo, some viewers will assume that your home has been for sale since the last spring.
Photos are the last step in the MLS listing process. A listing must be entered, and activated before a photo can be attached. Therefore, it is usually the last item that we ask you for, and you will be given an email address to email your photos.
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Will My Listing Look The Same As Other Listings?
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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Are There Any Other Charges In Addition To The $599.00 or $399.00 Flat Fee?
For a one time flat fee of $599.00 or $399.00 home sellers or rental property owners can list their single family home, condo, townhouse, vacant land, multi-family dwelling or rental property on the local Realtor Multiple Listing Service. There are no additional listing fees or hidden charges. You will be obligated however to pay a commission to the real estate agent who delivers a qualified buyer, the commission will be the amount you have indicated in the listing agreement, usually 2.5% or 3%.
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How Long Can I List My Property On The MLS For $599.00 or $399.00?
The listing agreement will be for a term of one month to a maximum of 6 months. However, you retain the option to cancel the listing agreement at anytime without penalty.
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Do I Inform You When I Enter Into An Agreement To Sell My Property?
When an offer is accepted the status of the listing must be changed to a pending sale within 48 hours to avoid a fine from the Multiple Listing Service. One reason why the MLS is so effective is because of the up to date accuracy of the listings. When you close on the sale of your property we will need a copy of the HUD settlement summary that will be supplied to you by the closing attorney. At that point we can close out the listing on the MLS satisfying the requirements of the Multiple Listing Service.
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Why Must I Sign A Listing Agreement If I Can Cancel At Anytime I Want?
The Multiple Listing Service requires that a signed agreement be entered into before any real estate is listed on the MLS. The content of our listing agreement fulfills the rules and regulations required by the Multiple Listing Service. As you review the listing form you will find that there are no hidden items that work against you. The agreement was designed to benefit you, the property seller. A property can only be listed on the MLS for the listing period as indicated on the listing agreement. Since you, the real estate seller have the right to cancel the listing agreement at any time without penalty or additional fees it's to your advantage to list for the maximum period of six months.
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What If I Want To Make Changes To My Listing? Other Flat Fee Companies Charge A Fee For Every Change To The Listing?
We do not charge you a fee to make changes to your listing. You can change the remarks, the price, the directions or add special instructions and contact information as needed. Many companies will charge a fee each time a change is requested.
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What Happens If I Sell The Property Myself Without The Assistance Of A Real Estate Agent?
Then you do not pay a commission to anyone. The only time a commission is due to a real estate agent is when he/she delivers the buyer to you. You do retain the right to advertise and sell your property "By-Owner".
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Is There Any Situation Where I Would Have To Pay The Selling Agent 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 Get A Lock Box?
We do not provide a lock box devise. However you can purchase a combination lock box at your local hardware store.
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Will My Property Be Listed On Realtor.Com?
Yes. You will have a listing on Realtor.com. Realtor.com does not allow owners phone numbers on the listing because Realtor.com is a marketing tool designed for Realtors and is not a "for sale by owner" web site. Realtor.com is a private and separate entity and is not the Multiple Listing Service. Realtor.com is the official web site the National Association of Realtors." The Realtor.com listing is usually active on the Internet within 3 days. Your MLS listing takes 24 hours or less from the time we receive payment and all required forms.
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Do I Need To Come To Your Office To Be Listed?
No, you don't have to visit our office to get listed. Our services are set up to maximize your convenience. The necessary paperwork can be emailed, faxed, or mailed both ways so there is no travel, appointment, or time-consuming meeting necessary to get listed.
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