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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 generally are charged a listing fee of 1.5%-3% of the selling price for the listing of your home and 2%-3% for the 'co-broke' fee for the agent who brings you the buyer for your home. Full service brokers generally charge 4%-6% in commissions for the sale of your home under an 'exclusive right to sell' agreement.
Q. What is the "co-broke" fee and how much should I offer?
The co-broke fee is the amount of commission you are willing to pay a real estate agent who brings you a qualified buyer. This amount is determined by you at the time of the listing and is paid to the brokerage at closing by the conveyance attorney. 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% - 3% of the selling price.
Q. Can I still sell my home "by owner" while it is listed on the MLS?
Yes, most flat-fee MLS service companies do not take away your right to sell the property yourself. If you find a buyer on your own, you generally pay absolutely NO commission. Find out by asking the company if you owe any commission if you sell on your own.
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 21,000 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?
Generally, flat-fee MLS service companies use the popular real estate websites and provide the service free of charge.
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