For Sell By Owner help guide
What is the Multiple
Listing Service? (Also known and referred to as the "MLS.")
The Multiple Listing Service (MLS) is the National Association of Realtors
(NAR) computerized list of homes currently for sale. This is an exclusive tool,
only available to the 700,000 members of the NAR. The MLS is the primary tool
used by Realtors to find homes for their buyers, and for most Realtors and
buyers, it is the only tool they need to find the right home for them. Realtors
search the MLS daily to find potential matches for their buyers, thus when new
listings are entered, they are immediately evaluated by thousands of Realtors
with prospective buyers, making your house rapidly popular.
The MLS provides the biggest marketing
advantage in selling houses. This kind of exposure to buyers is not available
anywhere else. You maximize your chances of selling your property more quickly
and at a better price when it is listed in the MLS. When your property is in
the MLS your property receives the broad coverage of a large number of realty
offices that have access via computer to your home's availability, price and
features.
Being listed on the Realtors MLS enables you to take advantage
of the power of thousands of Realtors in your area. That means more exposure
for you!
How will I save thousands
by ordering the MLS option?
There are two ways to save when you list your home on the MLS. The first
illustration assumes that you list your property with an Authorized Flat Fee
USA MLS member, (for example, RE/MAX®, Century 21®, COLDWELL BANKER®, etc.)
sells your home. Under this illustration, let's assume your home sells for
$200,000 and that you paid $389.00 for the MLS option. Your commission would be
$6,000 plus our $389.00 fee, for a total of $6,389.00. This is calculated as
follows: $200,000 X 3% = $6,000 paid at closing and our fee of $389.00 (paid at
time of listing). Now, let¡¯s compare the savings if you listed your home with a
traditional broker for 6%. The commission on a $200,000 sale with a 6%
commission rate would be $12,000 ($200,000 X 6% = $12,000). Therefore the
savings would be $5,601.00 ($12,000 - $6,399.00 = $5,601.00).
The following table is an example of
what your savings are under this example or under our MLS Flat Fee listing
program these terms
Instead of paying the traditional 6% commission, you pay only
$389 to list your property on the MLS, plus a 3% commission to Realtor for
finding you a buyer. If you find a buyer on your own, you pay NO commission.
Selling Price
|
Traditional 6% Realtor Commission
|
ForSellByOwner.com
389+3% Commission
|
Your Savings
|
100,000
|
6,000
|
3,389
|
2,601
|
125,000
|
7,500
|
4,139
|
3,351
|
150,000
|
9,000
|
4,889
|
4,101
|
175,000
|
10,500
|
5,639
|
4,851
|
200,000
|
12,000
|
6,389
|
5,601
|
225,000
|
13,500
|
7,139
|
6,351
|
250,000
|
15,000
|
7,889
|
7,101
|
275,000
|
16,500
|
8,639
|
7,851
|
300,000
|
18,000
|
9,389
|
8,601
|
325,000
|
19,500
|
10,139
|
9,351
|
350,000
|
21,000
|
10,889
|
10,101
|
375,000
|
22,500
|
11,639
|
10,851
|
400,000
|
24,000
|
12,389
|
11,601
|
500,000
|
30,000
|
15,389
|
14,601
|
600,000
|
36,000
|
18,389
|
17,601
|
700,000
|
42,000
|
21,389
|
20,601
|
800,000
|
48,000
|
24,389
|
23,601
|
900,000
|
54,000
|
27,389
|
26,601
|
1,000,000
|
60,000
|
30,389
|
29,601
|
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Is this the same Multiple Listing Service (MLS) to which all
area Realtors belong?
Yes. All participating MLS Realtors belong to their local association of
Realtors. We have thousands of Realtors and Brokers who have joined out
network. Through this exclusive network we can accomplish this task getting you
on the local MLS in your area for a discount commission. Wherever you may be
located, we have a Nationwide Network of Realtors and they will place you
directly into the MLS system into your local area.
Will my listing appear on the web sites of other local Real
Estate Companies?
Broker networking is where brokers give each other permission to
share their listings on each other's web sites. Your listing will be displayed
on other local real estate company active listings personal web sites. Thus a
buyer working with another real estate company who does a search will have your
listing in the database.
Will my property be listed
on the Internet and what sites will it be listed under?
Yes. Your property will be listed on www.Realtor.com, www.ForSellByOwner.com
and other affiliated websites. Keep in mind our websites are listed at the top
of the search engines so there is a lot of exposure on the Internet through out
service. We will list you on other real estate websites for free. These highly
active Internet web sites will give you national exposure to out-of-state
homebuyers. This exposure can be a vital component in selling your home quickly
and for the best price. These websites will obtain your listing directly from
the MLS. This exposure only is worth the Flat Fee.
If you list your home on ForSellByOwner.com Basic, you will
never pay a listing commission! The only time you would pay a commission would
be to a buyer's agent that brings you a qualified buyer that executes the
transaction by buying your home. There is a small listing commission you would
pay if you listed on any of the 2, 3, 4 packages. The listing fee is small some
times 1/2% - 2% commission. This is so that you have someone representing you
with all the legal forms and negotiating of the contract. If you do not need
any help and just want the mls then the fee is less then 1%.
With your Flat Fee Listing plan I pay a flat fee to be listed on
the ForSellByOwner.com $389.00 on the "listing" but do I still have
to pay a "selling agent"?
If you elect to sign up for the Basic plan then there would be no commission.
On the other selected packages any Realtor bringing a ready, willing, &
able buyer with a satisfactory contract and that is agreed upon between both
parties in writing will be due a small "selling" commission of your
choice, typical Buyer & Sellers agent commission 2.5-3.5% of the selling
price. This depends on your area; this fee is designated by you the seller. In
some states it is more and in others less.
If I find my own buyer, will I still have to pay a selling
commission?
No. You still maintain the right to sell your home on your own. Unless you have
renegotiate any other deal with the agent or if they bring a buyer. Whatever
you agree on with the local agent is what is agreed upon.
Will Realtors show my home even though I went flat Fee Listing
instead of paying a high commission?
Yes. 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.
Will Realtors contact you or me for a showing?
You. Realtor's will call before a showing or a preview of your home. This is
usually done by them calling you getting an okay to show the property.
How long is the MLS listing period?
The listing is for a period of six months or until you sell your house. But you
can renew your contract with your contact. You can cancel the listing at any time without any penalty.
Must I have a lockbox if I go with one of the MLS packages?
No it¡¯s not absolutely mandatory. However, Realtors depend on
quick access. Realtors show many homes within a very short period of time,
access to your home may make a difference. We strongly recommend a Realtor
lockbox. We also have lock box¡¯s that are digital that will keep and log of
everyone that has seen your home. This is also a security measure. You may
contact us for further questions about that.
Do I have control over all listing information?
Yes. You can login to your listing on ForSellByOwner.com website and modify
your listing any time you want. You can change the price if desired. The MLS
has there own multiple-choice templates. In most cases you cannot customize
these controls they are not given to you. However if any changes are needed
your local contact can make those for you. The forms are very well designed and
cover most every detail about your property. Listing your home on the MLS is
crucial if you are serious about selling!
How do I make changes to my MLS listing?
Unlike the Basic package this does not give your privilege to you your self
changing the text or pricing. This must be done by your local agent but it¡¯s
very easy to do.
Will my listing look the same as a full listing commission to a
traditional agent?
Yes. Your listing will look like all the other listings on your local MLS.
Is it true that Realtors
using the Multiple Listing Service (MLS) sell most houses and that they usually
sell for a higher price?
Yes, it's true on both accounts. According to the National Association of Realtors,
approximately 90% of all
U.S.
homes are sold through Realtors using the MLS and homes listed on the MLS
average net proceeds of 7% higher than homes sold for sale by owner.
List your home now or call 1-866-422-4368 for live assistance.
Our office is always open to take your order.
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