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·What is the Multiple Listing Service? Also known and referred to as the "MLS."
The Multiple Listing Service (MLS) is the National Association of Realtors® (NAR) computerized list of homes currently for sale. This is an exclusive tool, only available to the 700,000 members of the NAR. The MLS is the primary tool used by Realtors® to find homes for their buyers, and for most Realtors® and buyers, it is the only tool they need to find the right home for them. Realtors® search the MLS daily to find potential matches for their buyers, thus when new listings are entered, they are immediately evaluated by thousands of Realtors® with prospective buyers, making your house rapidly popular.
The MLS provides the biggest marketing advantage in selling houses. This kind of exposure to buyers is not available anywhere else. You maximize your chances of selling your property more quickly and at a better price when it is listed in the MLS. When your property is in the MLS your property receives the broad coverage of a large number of realty offices that have access via computer to your home's availability, price and features.
Being listed on the Realtor® MLS enables you to take advantage of the power of thousands of Realtors® in your area. That means more exposure for you!
·How will I save thousands by ordering the MLS option?There are two ways to save when you list your home on the MLS. The first illustration assumes that you list your property with a AzFSBOsOnly.com participating MLS member. Under this illustration, let's assume your home sells for $500,000 and that you paid $495.00 for the MLS option. Your commission would be $15,000 plus our $495.00 fee, for a total of $15,495.00. This is calculated as follows: $500,000 X 3% = $15,000 paid at closing and our fee of $495.00 (paid at time of listing).
Now, let's compare the savings if you listed your home with a traditional broker for 6%. The commission on a $500,000 sale with a 6% commission rate would be $30,000 ($500,000 X 6% = $30,000). Therefore the savings would be $14,601.00 ($30,000 - $15,495.00 = $14,505.00).
The following table is an example of what your savings are under our MLS Flat Fee listing program.
Instead of paying the traditional 6% commission, you pay only $495 to your Listing Agent to list your property on the MLS, plus a 3% commission to the buyer's Realtor® for bringing you and the buyer together. If you find a buyer on your own, you pay NO commission.
·The average commission to a Buyer's Agent in your area is 3% but is negotiable.
We recommend that you offer at least 3%. Here's why. Let's imagine you are a Buyer's Agent and you were taking me out to see 7 homes on Saturday morning. One listing pays a 3.5% commission, 4 of the listings pay 3% and the other 2 listings pay you a 2% commission. Which home will you take me to first? If you offer 3.5% to the Buyer's Agent you will get more showings and you will sell faster.
|
Selling Price |
Traditional 6% Realtor Commission |
AzFSBOsOnly 495 + 3%
Commission |
Your Savings |
|
100,000 |
6,000 |
3,495 |
2,505 |
|
125,000 |
7,500 |
4,245 |
3,255 |
|
150,000 |
9,000 |
4,995 |
4,005 |
|
175,000 |
10,500 |
5,745 |
4.755 |
|
200,000 |
12,000 |
6,495 |
5,505 |
|
225,000 |
13,500 |
7,245 |
6,255 |
|
250,000 |
15,000 |
7,995 |
7,005 |
|
275,000 |
16,500 |
8,745 |
7,755 |
|
300,000 |
18,000 |
9,495 |
8,505 |
|
325,000 |
19,500 |
10,245 |
9,255 |
|
350,000 |
21,000 |
10,995 |
10,005 |
|
375,000 |
22,500 |
11,745 |
10.755 |
|
400,000 |
24,000 |
12,495 |
11,505 |
|
500,000 |
30,000 |
15,495 |
14.505 |
|
600,000 |
36,000 |
18,495 |
17,505 |
|
700,000 |
42,000 |
21,495 |
20,505 |
|
800,000 |
48,000 |
24,495 |
23,505 |
|
900,000 |
54,000 |
27,495 |
26,505 |
|
1,000,000 |
60,000 |
30,495 |
29,505 |
·Is this the same Multiple Listing Service (MLS) to which all area Realtors belong?
Yes. All participating MLS Realtors belong to the local association of Realtors®.
·Will my listing appear on the Web Sites of other local Real Estate Companies?
Broker Reciprocity is where brokers give each other permission to share their listings on each other's web sites. Your listing will be advertised on other local real estate agent and company websites when they offer MLS search and most do. Thus a buyer working with another real estate company who does a search will have your listing in the database.
·Will my property be listed on the Internet?
Yes. Your property will be listed on Realtor.com, Homes.com, HomeSeekers.com, ReMax.com, AzFSBOsOnly.com and other real estate websites for free. These Top 5 most active Internet web sites will give you national exposure to out-of-state homebuyers. This exposure can be a vital component in selling your home quickly and for the best price. These websites will obtain your listing directly from the MLS. This exposure only is worth the Flat Fee.
If you list your home on the MLS with AzFSBOsOnly.com, you will NOT pay a listing commission! The only time you would pay a commission would be to a buyer's agent that brings you a qualified buyer that executes the transaction by buying your home.
·With your Flat Fee Listing plan I pay a flat fee of $495.00 on the "listing" but do I still have to pay a "selling agent"?
Yes. Any Realtor® bringing a ready, willing, & able buyer with a satisfactory contract will be due a "selling" commission of your choice, typical Buyer agent commission is 3% of the selling price.
·If I find my own buyer, will I still have to pay a selling commission?
No. You still maintain the right to sell your home on your own. If you find your own buyer, you will not be obligated to pay a commission on the sale.
·Will Realtors show my home even though I went flat Fee Listing instead of paying a high commission?
Yes. 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.
·Will Realtors contact you or me for a showing?
You. Realtor's® will call before showing your home. If you do not want to take the calls please ask your listing agent about a la carte services such as contract negotiation and closing services.
·How long is the MLS listing period?
The listing is for a period of six months. But you can renew for another six months for a small fee of $249.00. Very few properties need to be listed for more than 6 months. You can cancel the listing at any time without any penalty.
·Must I have a lockbox?
No, but Realtors® depend on quick access. Realtors® show many homes within a very short period of time, access to your home may make a difference. We strongly recommend a Realtor® lockbox.
·Do I have control over all listing information?
No. The MLS has there own multiple-choice templates. In most cases you cannot customize. The forms are very well designed and cover most every detail about your property.
·How do I make changes to my listing?
You may make multiple changes to your listing by contacting your local AzFSBOsOnly.com participating Realtor®.
·Will my listing look the same as a full listing commission to a traditional agent?
Yes. Your listing will look like all the other listings on your local MLS.
·Is it true that Realtors® using the Multiple Listing Service (MLS) sell most houses and that they usually sell for a higher price?
Yes, it's true on both accounts. According to the National Association of Realtors, approximately 80% of all U.S. homes are sold through Realtors® using the MLS.Homes listed on the MLS average net proceeds of 7% higher than homes sold for sale by owner.
The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other truly effective way to sell your property and be successful. |
