| 01.
What Is The Flat Fee Listing Program?
A traditional real estate company wants you to sign a contract
that pays them a commission of up to 6% of your homes selling
price. In return they agree to place your home in the MLS,
hold open houses, schedule showings and help with the contract
negotiation process. The Listing agent usually splits (Co-Ops)
the commission 50/50 with the Buyer's agent.
Listing with a traditional real estate company rarely helps
you sell your home any faster. Did you know that less then
5% of all listings are actually sold by the Listing agent.
It's a combination of proper pricing and sufficient exposure
that will sell your home. The MLS provides the necessary exposure
to sell your home quickly and for the most money.
With our program and guidance, the seller can cut their total
commission in half by doing most of the work traditionally
done by the Listing agent. All the seller pays is the Buyer's
agent portion of the commission at closing (typically 2%-3%).
The seller may also advertise the property themselves, and
if a buyer is procured by those efforts, NO commission is
paid if the buyer has no broker representing him as well
Not only will your property be listed on the MLS, but it
will also appear on websites linked to the MLS database such
as ChicagoTribune.com (over a $100 value), Realtor.com, Mlsni.com,
Homeadvisor.com and other MLSNI partner real estate company
sites.
This program works! If you want to save thousands in commissions,
your willing to negotiate directly with a buyer or buyer's
agent and have the time to schedule your own showing appointments
then this service is right for you. Sign up today and let
the MLS bring qualified buyers directly to you.
How do I List on the the MLS with you:
To Order a $348 Flat Rate MLS Listing with 0% commission:
1. Complete our simple contract
2. Prepare your Property Input Form
3. Sign and Fax items 1 & 2 to us at FAX: 630-655-8680
4. You are Done!
Within 24 business hours our affiliate Realtors will enter
the listing on MLS and also email you a copy of your listing.
Within a day or so of that you will also be able to see your
listing on MLSNI.com and affiliated sites including Realtor.com
etc. Thousands of Realtors will have access to the listing
as soon as we enter it in the MLS system.
02. What will
I receive for a Flat Fee of $348?
- A listing on the Multiple Listing Service of Northern
Illinois (the "MLS") for as long as you like.
Your listing will be posted to the MLS within 48 business
hours of contract acceptance. You can cancel at any time.
- Free web exposure. Within 72 hours of being listed on
the MLS, your property will appear on several popular real
estate web sites such as Realtor.com, Mlsni.com, Homeadvisor.com,
and Chicagotribune.com.
MSN HomeAdvisor Yahoo® Real Estate Classifieds REALTOR®
certification
CHICAGOTRIBUNE.COM/HOMES
- If you send us a photo of your house our affiliates will
include it in the listing, else for an additional $40 charge
a color photo will be taken of the exterior of your property
and included with your listing.
- A Sales Preparation package that includes - sales contracts
& required disclosure forms.
- Free Changes to your listing and Open House notifications
during the listing period.
- Contact us anytime with your questions.
03.
What is the difference between a traditional full service
broker and your service?
A full service broker will help you determine a selling price,
list your home on the MLS, schedule showing appointments and
negotiate the sales contract on your behalf. For these services
you pay a hefty listing fee of 2%-3% of the selling price
(this is in addition to the 2%-3% you will be required to
pay the Buyer's Agent). That's a total of 4%-6% in commissions!
We offer you a way to list your property on the same MLS for
a flat listing fee of only $348. In exchange, you assume most
of the duties traditionally performed by the Listing Agent.
You pay only the Buyers Agent portion of the commission at
closing. If you find the buyer yourself, you pay NO commission
at all.
04.
What is the MLS and who owns it?
In most areas, the MLS is a corporation owned/controlled
by the local association of Realtors. To input listings, you
must be a licensed member of the local association of Realtors
(we and/or our local affiliates hold this membership in most
areas). MLS Members cooperate by showing and selling the homes
listed by other members, for which they receive a
commission for bringing the buyer to the seller. The commission
amount offered to the agent who brings the buyer is almost
always listed (usually required by the MLS) along with the
detailed information about the home and picture(s).
The MLS is the primary tool agents use to find a property
when they have a buyer. Over 80% of buyers use agents to help
them find properties (especially the most motivated buyers:
relocations, pre-approved, etc.). For most agents, the MLS
is the tool used every day to find a home for their buyers
(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.
Our service enables you to get the best of both worlds: get
MLS exposure to buyers and pay a commission only if you accept
an offer from a buyer involved with an agent. Our average
customer walks away from closing with a check that is $8,000
or higher than using a traditional agent.
05.
What is the "Buyers Agent" commission and how much
should I offer?
The Buyer's Agent commission is the amount you are willing
to pay a real estate agent that brings you a qualified buyer.
This amount is determined by you at the time of the listing
and is paid to the Buyer's Agent at closing. This amount should
be competitive with other listings in your area if you want
to take full advantage of the MLS. These commissions typically
range from 2.5% - 3% of the selling price.
06.
Can I list on MLS with no commission for buyer broker?
All MLS listing programs require the offering of a commission
if a real estate licensee finds you a buyer. If you find a
buyer without a real estate licensee, you will owe no commission.
The amount of commission is determined buy you the seller.
Typical commissions for buyers brokers range between 2.5%-3%
of the selling price.
07.
Can I still sell my home "by owner" while it is
listed on the MLS?
Yes. We do not take away your right to sell the property
yourself. If you find a buyer on your own, you pay absolutely
NO commission (because the buyer comes directly without a
broker)
08.
Is this the same MLS other agents use in Chicago and the surrounding
suburbs?
Absolutely. The Multiple Listing Service of Nothern Illinois
(the "MLS") is the largest and most widely used
database in Chicago and the surrounding suburbs. MLSNI Logo
09. Will the
MLS really help me sell my home?
Definitely. To sell your home you have to let people know
it's on the market. The MLS gives you exposure to over 27,000
real estate agents and the buyers they represent. The fact
is over 80% of buyers use a real estate agent when looking
for a home, real estate agents use the MLS. It's that simple.
10.
Will my home get exposure on the Internet?
Yes. Your home will appear on several popular real estate
web sites linked directly to the MLS free of charge. These
sites include, realtor.com, mlsni.com, homeadvisor.com and
chicagotribune.com (over $100 value). Calls from buyers that
see your listing on one of these web sites will be referred
directly to you.
11.
Will my listing look the same as other listings?
Absolutely. The format is standard for all listings.
12.
What if I have a question during the listing period or want
to change some information in the listing?
We will gladly answer any questions you have. If you want
to change some information in your listing (i.e. price, description,
etc.) simply send us your request via email (or fax) and our
affiliates will make the change within 24 hours.
13.
Should I hire an attorney to help me negotiate my home sale
contract, handle my closing, and advise me of any laws and/or
regulations with which I need to comply in showing and selling
my home?
Yes. We recommend that you hire an attorney earlier in the
home selling process rather than later or not at all. Since
most people hire an attorney to review their sale contract
and handle their closing, it makes sense to seek legal advice
right from the start. Because most attorneys charge a flat
fee for home sale contract review and closing related work,
this should not require any extra legal fees.
14. Why not just
advertise my home "For Sale by Owner" in the newspaper,
and forget the MLS listing?
Most people responding to newspaper ads are not yet really
serious about buying a home. They are still in the dreaming
or just kicking the tires stage of home buying. Once a buyer
gets serious, over 80% of the time he or she will hire a realtor,
and that realtor will show the buyer homes that are listed
on the MLS.
15.
May I still advertise my home for sale in the newspaper and
other advertising venues in addition to having SaveOnMLS affiliated
Realtors list my home for sale on the MLS?
Yes. However, if you want listing agents to stop calling
you in an attempt to get your listing, any such ad should
include our affiliate's name.
16.
Why do realtors use the MLS instead of other databases--for
example the many internet sites that list homes for sale?
Each home listed on the MLS must include in the listing the
compensation amount the buyer is offering to any realtor who
produces the buyer. By using the MLS, realtors therefore are
able to know upfront not only which buyers will compensate
them, but how much they will compensate them in the case of
a sale.
17.
Who determines the amount of compensation that will be paid
to a buyer's realtor, if the buyer who purchases my home is
represented by a realtor?
The compensation to be paid to the buyer's realtor, if the
buyer is represented, is determined by you, the seller, and
offered by our affiliates on your behalf in the MLS listing.
If you hired a traditional realtor, as opposed to a SaveOnMLS
affiliated Realtor, that realtor's exclusive listing contract
with you might, for example, obligate you to pay him or her
a commission of 5% to 7%* of the sale price of your home.
The traditional realtor would then offer a buyer's realtor
a portion of that commission, on your behalf, in the realtor
MLS listing. A recent search of the MLS indicated that most
sellers offer between 2.5% to 3% of the sale price to buyers'
realtors.
* Because realtor commissions are determined independently,
these commission percentages are just estimates offered to
help you calculate your savings.
18.
Who pays the buyer's realtor?
You do, at closing.
19.
What kind of agreement do I sign with your affiliate Realtor?
Your agreement with our affiliate Realtor is non-exclusive.
This means that not only may you terminate your listing at
any time, but you may also work with other realtors if such
realtors do not require an exclusive listing.
It is the policy of our Realtors not to solicit clients who
are already represented by another realtor.
20.
Will your affiliate Realtors give me the local market information
I need to set the asking price for my home?
Yes. Once you have hired one of our Realtors and provided
us sufficient information about your home and its location,
we will perform a search of the realtor MLS to assess how
much similar properties in your area have sold for recently
and what the list prices are for comparable properties currently
listed on the MLS, and provide you that information. Using
that comparable property data as a guide, you set your asking
price, and we offer that price on your behalf in the MLS listing.
21.
What if I want to change my asking price or any other listing
information during the listing period?
You simply need to communicate your change requests to us
by either by fax or email, please be sure to include your
MLS Listing number. Price Changes: We do require that all
Price Changes to be made in writing and be faxed/mailed to
us for your protection. Please Fax Requests to 630.655.8680
or change@saveonmls.com.
SaveOnMLS affiliated Realtors makes all such listing changes
free of charge. We also will provide you a list of changes
you must request we make to your listing within 24 hours of
when certain events occur (e.g. the asking price has changed,
a contract for sale is pending, or a closing has been executed).
22.
If I want to hold an open house for buyers or broker tour,
will SaveOnMLS's affiliated Realtor assist me?
Yes, to the extent that we will advertise your open house
or broker tour by adding it to your MLS listing. It is your
responsibility to actually conduct the open houses and/or
broker tours.
To schedule an open house or broker tour, by the end of the
day the Wednesday before the weekend you are planning the
open house (or the week before the broker tour), simply telephone
,fax or email to us with your open house or broker tour request.
23. Can SaveOnMLS's affiliated Realtor
provide me a combination lock box in which I can put a key
to my home so that realtors to whom I give authorization can
show buyers my home when I am unable to be there?
Yes. For an additional fee of $100, SaveOnMLS's affiliated
Realtor will provide you such a lock box. If you return the
lock box in working condition after your house is sold, we
will refund to you $50. SUPRA Boxes also available.
24.
Exactly how does the lock box work? How does the real-estate
agent get the code or password to open the box?
Let the agent that calls you know where the lockbox will
be (recommended to be on the front door) and combination for
their files. Generally, agents will call you, request a showing
at a certain time and date. You should write down their name,
company, and office phone number. Then call them back, verify
it is a real estate office and they are a licensed agent,
then leave them a message with the lockbox combination (assuming
the time and date is ok with you).
Realtor Key Lockbox for For Sale By Owner Sellers
25.
Can put up a virtual tour of our home?
Yes. For an additional fee of $80, we coordinate getting
a virtual tour produced and put online with your listing.
For an additional $20 the tour will also be placed on Realtor.com
26.
Can SaveOnMLS's affiliated Realtor provide me a yard sign?
Yes. For an additional fee of $150, we will coordinate providing
you a yard sign. If you return the yard sign to us in good
condition after your house is sold, we will refund to you
$75.
27.
What if my needs change and I want to terminate my listing?
You may terminate your listing at any time if you communicate
your termination request to us in writing.
28.
Who's telephone number is used for contact information on
the MLS?
All buyers and agents with buyers would be instructed to
contact you directly. Depending on the website, they may be
shown our affiliate Realtor's contact record information,
if they contacted that us, they would be forwarded to you.
29.
How can I pay for the listing?
You can either pay online with a credit card or send us a
check by mail.
30.
Where do I send the photo of my house?
Email it to photos@saveonmls.com
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