• What is the MLS? (from www.en.wikipedia.org)Multiple Listing Service (MLS) is a database which allows real estate brokers representing sellers under a listing contract to widely share information about properties with real estate brokers who may represent potential buyers or wish to cooperate with a seller’s broker in finding a buyer for the property. The MLS combines the listings of all available properties that are represented by brokers who are both members of that MLS system and of NAR (the National Association of Realtors).The purpose of the MLS is to enable the efficient distribution of information so that, when a real estate agent is introduced to a potential home buyer, s/he may search the MLS system and retrieve information about all homes for sale in a given area or price range, whether under a listing contract by that agent’s brokerage or by all participating brokers.The MLS systems are governed by private entities, and the rules are set by those entities with no state or federal oversight, beyond any individual state rules regarding real estate. MLS systems set their own rules for membership, access, and sharing of information, but are subject to nationwide rules laid down by NAR or your state’s real estate commission. An MLS may be owned and operated by a real estate company, a county or regional real estate Board of REALTORS or Association of REALTORS, or by a trade association. Membership of the MLS is generally considered to be essential to the practice of real estate brokerage.

 

• Will the MLS help me sell my home?

Yes. Most buyers use real estate agents, and these agents use the MLS as their main tool to find homes for their buyers. You benefit from listing your home on the MLS because you gain tremendous exposure to tens of thousand of agents and their potential buyers. Homes that are not in the MLS are invisible to these agents, and to the buyers they are representing.

• What are the steps to be listed on the MLS?

  • Step 1: A licensed NC real estate Broker will contact you via e-mail within 24 hours of your purchase with instructions on how to complete the MLS paperwork. When you complete this paperwork, you must indicate what you are willing to pay the buyer’s agent - this must be between 2-4% of the sale price of your home.
  • Step 2: You must complete the paperwork and fax it back to the Broker.
  • Step 3: Once your paperwork is completed and submitted to the Broker an appointment will be made to deliver your RealSimpleListing yard sign and take measurements for accurate square footage in the MLS. In addition, if you added the TourTheTriad.com photography package, the photographs will be done at this time.
  • Step 4: Your property will be placed on the MLS within 1 business day. You will receive e-mail notification from your Broker that your home has been successfully listed in the MLS along with a copy of your listing to review.

• How much should the commission to the Cooperating Broker (”buyer’s broker”) be?

RealSimpleListing recommends that the commission you offer the cooperating broker be as close as possible to ½ of the typical commission in your area. Real estate commissions vary from area to area, but are generally between 5% and 7%, with higher priced homes sometimes falling to 4%. With RealSimpleListing your commission is normally from 2% to 3½%. We do not accept listings offering commissions to buyer’s brokers of less than 2%. Commission rates are negotiable, as is every element of the listing contract. Ultimately, it is your business decision how much, or how little, to offer the buyer’s broker. Click here to read a more scientific evaluation of setting this commission.

 

• Where will potential buyers be able to see my property on the internet?

Your home will be on dozens of national real estate web sites, and on hundreds of web sites local to your area through the MLS. Your home will be on REALTOR.com, the official web site of the National Association of REALTORS®. REALTOR.com is the world’s largest database of properties for sale with over 353 million page views per month. REALTOR.com is the only real estate web site listed in the top 100 most popular web sites.

 

• Can I still sell my home myself?

Yes. The Broker who lists your home in the MLS will do so with a flat-fee Exclusive Agency Listing Contract that allows you to sell the property yourself without paying the listing broker a commission.

 

• Will I have to pay a commission if I sell my home myself?

No. If you find a buyer without the assistance of REALTOR®, no commission will be owed.

 

• Do I have to pay a commission to a cooperating broker?

Yes, you must designate a commission to be paid to a cooperating broker. However, this commission can be flat fee or a percentage of the sale price. The amount of commission to be paid is negotiable, as are all elements of the listing contract.

 

• Why not just advertise my home as a “For Sale by Owner” in my local newspaper?

Almost 90% of all buyers use real estate agents when buying a home. A “For Sale by Owner” listing in the newspaper misses those buyers.

 

• What phone number will be shown on the for sale sign provided by RealSimpleListing?

The RealSimpleListing for sale sign will show our phone number. However, you are welcome to have a sign rider with your phone number.

 

• If a customer calls RealSimpleListing about my home, what will happen?

RealSimpleListing will refer all inquiries about your home from buyers represented by REALTORS® to you directly. If someone contacts us and does not have representation we will work with them as a Buyers Agent.

 

• Who will set appointments for cooperating brokers wishing to show my home?

Our appointment setting service will call you directly for appointments, additional information, questions, etc.

 

 

• Do I have to have digital photos of my home?

Yes. If you do not have them we can arrange for professional photos to be taken for only $139.00.

 

 

• What if I am not able to take a photo of my home ?

RealSimpleListing will take photos of your home for a fee of $139.00.

 

• How many photos of my home can I submit?

RealSimpleListing accepts up to nine (9) photos for every listed property. As many as 20 additional photos are added if we do the photos for $139.00.

 

• What areas are currently served by RealSimpleListing?

RealSimpleListing currently serves the greater Triad area as defined by Forsyth and Guilford and the adjacent counties.

 

• Will RealSimpleListing help me negotiate with buyers, evaluate and prepare counter offers, and assist me in closing my home?

NO. However, we will refer you to a licensed Realtor to negotiate a commission (typically one percent of the sales price) who will then provide representation based on the complexity of your situation. Contact us for details.

How Much Can I Save?

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Closing Price:
3% Commission:
6% Commission:

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