Frequently Asked Questions
What is the MLS?
The MLS (Multiple Listing Service) is the primary data system that most real estate agents use to market and sell property. It is a local database that brokers browse to find listings for potential buyers, so when you put your home on the MLS through us, you can expose your property to thousands of buyers and real estate agents.
Can for sale by owner list on MLS Themselves?
You cannot list your property on the MLS yourself, you will need assistance from a licensed Realtor to list it for you, and we do offer this service for a small fee.
How to list for sale by owner on the MLS?
Once you purchase our unique for sale by owner package, you will be directed to fill out couple of forms and provide your own photos, and once our office receives the signed forms, your listing will be up active on the Northstar MLS within 24 hours, and all associated disclosures will be provided to you thereafter. We are always a phone call away to happily answer all your questions.
How long does it take to be on the MLS?
Your property will be listed on the MLS within 24-48 hours of the time we receive your completed and signed paperwork, photos,and Truth-In-Housing report (if required).
How can I make changes to the MLS?
If you need to make any changes to the MLS information, price change or open house directory, you need to send your request to us via email and we will be able to do the changes within 24 hours.
Will my contact information be shown on the MLS?
Yes, for the FSBO package your contact information will be shown under the agent remark and the appointment line for agents to get a hold of you, however it won’t show up for the public but we will forward any leads from the public to you when we receive them.
How do you market the listing?
With Broker Reciprocity system in place your property will appear on literally hundreds of other public websites that display MLS listings such as Realtor.com, Trulia, Zillow and many other high end property search websites in addition to our social media marketing. Also we offer 6 foot professional Broker yard sign, Just Listed email-blast to thousands of local REALTORS and open house directory on the MLS and Zillow.
Why full services package is recommended over the FSBO one?
Some of FSBO sellers struggle and ask for help and consultations during the sale process, and some buyer’s agents feel more comfortable working the deal through a licensed agent who is equipped and understands the complexities of modern Real Estate transactions and how to incorporate legal and financial attributes and assure a smother transaction. I think deciding whether to go with the full service package or the FSBO package depends on how fully confident you are to handle all of the details.
If I found a buyer who is not represented by an agent, can I save the buyer’s broker commission?
Yes, Seller can retain the right to procure buyer and pay no buyer broker commission.
What is the average buyer’s Broker commission I need to offer?
Approximately 2.5-3.0% commission due to buyer’s agent at closing if agent procures buyer.
Why choose Real Estate Corners?
- We are local. Unlike most of national companies, we are local and have the knowledge of your market and we are live 7 days a week on the phone for any questions you might have.
- We can save you thousands of dollars. We have two unique packages to choose from, whether you go with the full services or you customize our FSBO package, you save Thousands of dollars either way.
- Your listing gets a maximum exposure. Your listing will be seen on hundreds of real estate related websites, We offer all the marketing material needed to sell your home fast, between listing on the MLS, installing a professional yard sign, color brochures, social media exposure, email blasts to agents in your market, virtual tour, professional photos, staging and more.
- We are your one stop shop. Whether you go with the limited services or the full services, we have all the tools you need to accommodate your needs, we got you covered.
Will you sell my email address? Will my email remain private?
Can I cancel my listing agreement with Real Estate Corners?
Yes, you can cancel at any time before the expiration of the agreement (No refund of the retainer fee if the house is already listed on the MLS).
Will my house be posted on any other websites?
Yes, once the property is listed on the MLS, it will appear on literally hundreds of other public websites that display MLS listings such as Realtor.com, Trulia, Zillow and many other high end property search websites to give your home extra exposure.
What are the disadvantages of over pricing my house?
Well, several factors may come into play:
- You might help sell similar homes that are priced lower.
- Your home may be on the market longer.
- You could lose market interest and qualified buyers.
- You might create a negative impression of the property.
- You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.
- You may have to accept less money.
- A potential buyer may face appraisal and financing problems resulting from the inflated price.
It is not recommended to sell your home any higher than the appraised value unless demand is high in your area. Ask your real estate agent which price would be right for your home. Also make sure you get a Home Value Request to assist in determining the best sales price for your home.
If I list with a flat fee Realty, am I scarifying the services that a traditional agent is offering for 6%?
Absolutely Not, charging 6% commission has become an outdated business model, with today’s technology the process of selling home has become easier and most cost effective and unlike big companies we control our overhead and administrative costs and we proudly passing the savings to our clients. Whether you decide to go with our full service or For sale by owner package you will get the same marketing & exposure you need to sell your property.
Will buyer’s agent refuse to show a FSBO listing?
Often, it comes down to whether the buyer’s agent will get paid or not, and since listing a house on the MLS requires the listing agent to publish a commission for buyer’s agents therefore, the buyer’s agents are willing to show and work with FSBO homes listed on the MLS. On the other hand, one of the fiduciary duties that any agents owe to their clients is obedience, meaning if buyers are searching online and saw a house they like, they ask their agent to show them the house and the agent is obligated to do so.