Seller FAQs
1. 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. 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
out of 5 sales nationwide. About 85% of home buyers use a REALTOR® to help them locate a property. When a potential 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.
2. 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 use the REALTORS® Multiple Listing Service. Only a State Licensed REALTOR® Member may access and use their local MLS and list a property for sale, or find homes for buyers. This is the same MLS used by REALTORS® in your area,
the same as the one you will be listed in, which is accessed by local Agents in your area.
3.
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 the Sellers compared to "FSBO" home sale transactions.
4. 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 commission is not shown. The listing brokers name appears on the MLS. Our flat fee listing method gets your property on the same MLS used by your local REALTORS®. Your listing will appear the same as all other
MLS property listings.
5. 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.
6. How important is that the listing REALTORS's office be in my neighborhood for my home to sell?
It does not matter. It's merely an often-used false marketing method to
make you believe it makes a difference so that you end-up listing with them. Comparatively few potential buyers reside in your neighborhood. Most buyers come from another part of town, 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
working with them. 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
a purchase contract offer and 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.
7. Who will call Realtors for Showings?
You, the Seller. The most common way showings are done, is the listing broker indicates showing instructions on the multiple listing service.
It will say "Call Owner direct to arrange for a showing" (giving your name and contact phone number) REALTORS® customarily call Owner before showing the home.
8. 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.
9. How long will my property be listed on the MLS for the flat fee?
The MLS flat fee listing is good for
12 months. Most homes are sold within a couple of months of listing or sooner. Many homes listed have sold within a day to a week.
9. Can I cancel my Flat Fee Listing at anytime?
Yes, contact the office for a withdrawal form. Filled it out and sign,
once we receive it your listing will be unconditionally withdrawn.
Please beware of
any agent soliciting your listing while you are still listed with us.
It's strictly prohibited by Real Estate Commission.
If any agent did that
to you, you should get the agent contact information and notify us ASAP.
Please keep in mind that we DO have a limited 100% money back guarantee. Even if
you want to cancel and list with a full price broker, you should ask us
first to see if we can work out an referral agreement to get your money back.
It does not cost you any extra, and you will get your money back at the closing
of your home.
10. Do you have a refund policy?
YES,
If you wish to cancel within 30 days after your order is placed, but
before your listing is entered, there is a $25 cancellation fee. This fee covers what we are
charged by the credit card company. We are charged when a client places an
order, and we are charged again when we have to enter a refund.
If you wish to cancel more than 30 days after your order is placed, but before
the listing is entered, a refund cannot be issued. However, your order will
remain valid and you may enter your listing at ANY TIME in the future.
After your listing is entered, we unfortunately CANNOT issue a refund.
The service you paid for is considered provided once your listing is
active in the MLS. However, if you decide not to sell your home
and wish to cancel your listing, that's not a problem and there is only
a $25 cancellation fee which covers credit card processing fee as well
as MLS withdrawal fee.
If you have ordered a realtor lockbox, there is a refund of $75 when it is returned, in
the same condition as when it was received. Yard Signs are free; the $15 charge is for
packaging and shipping which is not refundable.
We do our best to provide outstanding customer service to make our clients
happy. If there is ever any problem, or if you feel we did not live up to your
expectations, please contact our office. We are always there to help you.
11. Limited Money-back Guarantee after my home is listed, if I cancel my listing
to go with another REALTOR?
If you are not completely satisfied with the flat fee model, after
being listed with us, and find that it is too much for you to handle on
your own, we can help you find a qualified full service broker such as ReMax, Keller Williams, Century 21 etc. You can
also find your own broker. You will qualify for a 100% refund of your listing fee if
First Team Georgia Realty refers you to a real estate broker who is acceptable to both
parties. First Team Georgia Realty agrees to
refund the original listing fee at close-of-escrow as long as the new broker
agrees to a standard REALTOR® Referral Agreement. The referral agreement will
not cost you any extra money in commission so there is nothing for you to lose...and
a 100% money back guarantee as your gain!
12. Is there really a benefit to listing with a traditional high-commission broker?
Not really, keep in mind that all agencies work with the same MLS's.
Your listing will end up in the same MLS if it is with a 6% agent or with us. Except
with a 6% agent you
will have a Traditional Real Estate Agency charging you a higher commission.
We all rely on buyers' agents to sell the homes. Also note: if you sell it
yourself while listed with us you do not pay us a buyers agent commission, on the other
hand, if you find the buyer while listed with a traditional broker, in all
likelihood you will still pay a full 6 % commission.
13. What is the difference between a "Selling Agent" and a "Listing 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.
14. 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.
15. If the First Team Georgia Realty Flat Fee Agent sells my home will I still owe a commission?
Yes, but you still pay 50% less commission. Typically about 2-3% If the Listing Broker has a buyer for your home, he/she will also become the selling agent and be entitled to the selling side of the commission. Regardless of which REALTOR® sells your property, you still pay no listing commission and only pay 2-3% to the broker who was the procuring cause of the sale.
16. 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.
17. Do I need a lockbox while
my house is listed on MLS?
Lockboxes are highly recommended, especially the
supra realtor Lockbox which
all local realtors have an e-key to get in. A lockbox is a
secure 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 with a contact phone
number to call showings.
18. Do you offer free forms and contracts if I sell my home myself?
Yes, we do offer free forms. We are adding more forms for your convenience. When you list your home with us, we will email you all the forms needed if you sell by owner. If your home sells thru the MLS, the buyer's agent will prepare the purchase contract.
19. Can I make changes to my MLS listing?
Yes you can make changes, just contact the listing agent
(usually by email at
changes@firstteamgeorgiarealty.com).
20. 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.
21. What Internet sites will my listing appear on?
Depending on your area, your listing may appear on many different internet sites.
Plus licensed REALTORS® can display all of the MLS listings directly on their
own private website. However, it is really impossible to predict exactly how many
websites your listing will be on. Aside from the private websites owned by REALTORS®,
your listing may also appear on major public internet sites such as REALTOR.com®,
Trulia.com, Zillow.com, Google Maps, MSNhomes.com, Homes.com, Homestore.com, Homeadvisor.com Yahoo.com and others.
22. Will my contact information appear on Realtor.com® & other
public websites?
No. REALTOR.com® is NOT the MLS. REALTOR.com's main benefit is for
home-buyers to contact a REALTOR® for more information and showings. It
is not for home-buyers to contact you as a FSBO (which is a common
misconception). REALTOR.com® has a rule that seller's personal
information is not allowed to appear (but it does go on The-MLS - please
don't get them confused). Contact information (Seller's Name, Phone
Number and Address) appears on the Multiple Listing Service for
Realtor's to view and to contact sellers for showings, etc.
23. 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®
24. 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.
25. 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 the public who want to search for appropriate properties
throughout the nation.