MLS Listing Connecticut - Flat Fee - Frequently Asked
Questions
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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 Realtor.com, Homeadvisor.com and other
MLS
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.
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How do I List on the the MLS with you:
To Order a $399 Flat Rate MLS Listing
with 0% commission:
- 1. Complete our simple MLS
Listing Agreement
- 2. Prepare your Property
Input Form
- 3. Sign and Fax items 1 & 2
to us at FAX: 630-214-8160
- 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 the MLS and other 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.
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For a Flat Fee of $399 you will receive:
1) A listing on the Multiple Listing Service in Connecticut (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.
2) 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, Homeadvisor.com, AOL Real Estate, Yahoo Real Estate. Central
Connecticut MLS Listing appears on GHAROnline.com and HomeZoneCt.com.
Mls Listings also appears on top franchise and independent Connecticut
real estate company websites
    
3) One Color Picture on the MLS and Realtor.com
4) A Sales Preparation package that includes - sales contracts & required
disclosure forms.
5) Free Changes to your listing and Open House notifications during the
listing period.
6) Contact us anytime with your questions.
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Q. 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 $399. 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.
Q: 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.
Q. 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.
Q. 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.
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Q. 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) |
Q. Is this the same MLS other agents use in
Connecticut and the surrounding
suburbs?
Absolutely. The Multiple Listing Service is the database used by all the
Realtor's in Connecticut |
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Q. 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.
Q. 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,
homeadvisor.com.
Q. Will my listing look the same as other listings?
Absolutely. The format is standard for all listings.
Q. 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.
Q.
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.
Q. 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.
Q. May I still advertise my home for sale in the newspaper and other
advertising venues in addition to having MLSofConnecticut's 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.
Q. 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.
Q. 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 MLSofConnecticut 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.
Q. Who pays the buyer's realtor?
You do, at closing.
Q. 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.
Q. 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.
Q. 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. Please be sure to include your MLS Listing number.
Price
Changes: All Price Changes need to be made in writing and be faxed to us for your protection. You
might be required to complete a status change form. Please email
support@mlsofConnecticut.com
for instructions
Our Fax Number is 630.214.8160.
Our
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).
Q. If I want to hold an open house for buyers or broker tour, will
MLSofConnecticut 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 fax or email to us with your open house or
broker tour request.
Q.
Can MLSofConnecticut'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, our 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 $25. SUPRA Boxes also available.
Q. 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). |
 
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Q. 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
Q. Can
you 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.
Q. 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.
Q. Who's telephone number is used for contact information
on the MLS?
Answer: All buyers and agents with buyers would be instructed to contact you
directly in the official MLS Listing. Public websites will shown your listing Realtor's contact record
information, however if people contact them, they will asked to contact you
directly.
Q. How can I pay for the listing?
Answer: You can either pay online with a credit card or
send us a check by mail. |
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Q. Where do I send the photo of my house?
Answer: Email it to support@MLSofConnecticut.com
To request more information about our services call 1-800-MLS-1213 or email :
Support@MLSofConnecticut.com
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