FAQsHere is a collection of frequently asked questions that I have put together to help you sell your property. If you have any other questions, not listed here, feel free to call or send an e-mail.
By clicking on any of the questions below, you may view the answer.
Can the listing be posted within 24 hours?
In most cases, yes. After Broker gets forms and pictures for listing.
Can the Seller request 24 hours notice for showings?
Yes, that info can be put in the agent remarks.
Can the Seller write the remarks section that goes into the MLS?
Yes. In the Multiple Listing System, there is a limit to the number of characters. Find out how big (how many characters) the remarks section is before you write your remarks section. Your Broker may edit any comments that would not be acceptable per MLS preset standards.
Do I have to offer commission to Buyer's Agents?
Yes, it is required. It is so worthwhile to be put on the database that the Realtors are using to find homes for their buyers.
Do I pay a commission to the Listing Agent?
Nope, that is the great thing about Flat Fee. This is why at least half the commission that would have been paid in a traditional real estate listing is saved.
A commission or closing payment could be paid if the Flat Fee agreement was made out for it.
Does the Seller email the photos for the listing?
Yes, the Seller will email the photos to the Listing Agent. It helps to put the photos in order or number them. The Broker wants to put the photos in the same order you want them - so either "rename" each jpg, such as "1" or "2" or "3". Some MLSs have a regulation that pictures used on a previous MLS cannot be used again. All pictures used must have never been used in a MLS listing before.
How do you save dollars with Flat Fee Listings?
Traditional Real Estate Commissions are commonly six percent. That would cost you $6,000 per $100,000 of sales price. And, of course, that would cost you $12,000 per $200,000 of sales price. And, of course, that would cost you $18,000 per $300,000 of sales price. This six percent is divided between the Listing Brokerage and the Buyer's Agent Brokerage - three percent each. If the Listing Broker is also the Buyer's Agent Broker - then that Brokerage gets the six percent. That is a lot of money. Traditionally, that is the commission that a Seller pays to sell his or her home.
Flat Fee MLS Listings save Sellers commission because:
1. Listing Broker is Not paid a commission. That saves Half the total commission. Listing Broker receives an administrative fee for creating and maintaining the listing and representing the Seller per agreement. This could be a savings of $3000 per each $100,000 of sales price. Wow, that is a great savings!
2. Seller can sell to a Private Party and there is no commission to pay. That is a amazing savings! And the Listing Broker can refer Private Parties to the Seller.
Flat Fee Listing can save you lots of Money. No Six Percent Sales! Either Zero Commission Sales or Half
All commissions are negotiable and not fixed and cannot be fixed. Figures above are based on six percent commission.
If a Private Party buys a house with no agent, is there a commission?
No. This is a zero commission sale. Sellers love them.
Is the yard sign supplied?
Yes, the Listing Agent supplies the sign.
One Third Commission Sales - How does that work?
A Flat Fee Listing Broker on the Multiple Listing Service usually allows the Seller to offer the Buyer's Agent either 2% or 3% for a ready, willing and able buyer.
If the Seller, in the MLS, offers the Buyer's Agent 2%, two thirds of the traditional real estate commission is saved.
What does the MLS require of the pictures?
Most Multiple Listing Services don't allow pictures with people, animals or signs. Most Multiple Listing Services require the first picture to be a front of the house.
What is the MLS?
The MLS (Multiple Listing Service) is a network of Realtors. Realtors pay membership dues and use passwords to access information. A Multiple Listing Service can cover several counties. The size of each Multiple Listing Service is variable. A home that is put on the MLS is searchable by size, subdivision, number of bedrooms, number of bathrooms, school district or several other criteria. This makes it easy for a Realtor to find properties for their buyers.
What is the refund policy?
Refundable if listing has not yet been done on the MLS or Realtor.Com and is under 30 days since purchase. Email Busy Bee Realty during normal business hours. Refund will be initiated within 7 days of request if request is accepted. Brokerage and/or Originating Company to determine method of refund whether paypal, check, credit card or other.
Where does the MLS send my listing?
The Multiple Listing Service not only provides local advertising exposure but also uploads to state and national level websites like Realtor.com, Home.com, Trulia and other such sites. This gives the Seller exposure on local, state and national level websites. MLS's will vary as to which websites they contract to upload. Each MLS has different contracts with different websites.
Who decides the Buyer's Agent Commission?
The Seller. The Seller decides on the listing agreement.
Will the Buyer's Agent have the Seller's number to call for showings?
Yes. Buyer's Agents will call the Seller to schedule appointments to sell the home.
Zero Commission Sales - How does that work?
A Flat Fee Listing on the Multiple Listing Service uploads to many great websites, such as www.Realtor.com, www.Zillow.com, www.Trulia, etc. Private Party Buyer can have no Buyer's Agent. If there is no Buyer's Agent, there is no commission to the Seller. This is a No Commission Sale. Nice. You, the Seller, have just saved $6000 per $100,00 of sales price based on a comparison to a 6% commission sale.
Example: On a $250,000 home, listed by a Flat Fee listing Agent and bought bya Private Party, not represented by a Buyer's Agent, there are zero dollars commission to be paid by the Seller. Compare this to a traditional real estate commission transaction, using 6% as total commission, would cost the Seller $15,000 in commission.
Why would a Seller do anything other than a flat fee listing?