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Question:
| What is the MLS and
why should I put my house on it? |
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Liz’s Answer:
MLS stands for Multiple Listing Service. It’s a service with a
database, kind of like an electronic catalog, which Realtors
join to share information about the properties they list. When
Realtors join the MLS, we agree to put all of our listings in
the catalog and to share commissions. The MLS database shows the
address of each house for sale, a picture, and other
information. When another Realtor has a customer, they go to the
MLS to look for homes just like you would go to a catalog to see
what items are available in a store. In Western North Carolina,
our multiple listing service is regional and serves 11 counties
including Buncombe, Haywood, Henderson, Jackson, Macon, Madison,
McDowell, Mitchell, Polk, Rutherford, and Swain counties. There
are over 1600 Realtors using this service every day. When you
list your property on the MLS, it’s like hiring all 1600 to find
a buyer for your home!
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Question:
Some of the FSBO type websites have hidden charges for changing
your listing, even just changing your list price. What happens
if I want to make changes to my listing with you? And, how long
will my listing last?
Answer:
Both of these are very good questions. We don’t have any hidden
charges. All listings are originally set up for six months. Most
homes sell within this time period. If your property does
not sell within 6 months, we can
renew the listing and re-enter it into the MLS
as a fresh listing for an additional 6 months for
a flat fee of $100. You can also withdraw your listing
with just 24 hours notice (so we can take it out of the MLS).
There is no fee to change the information in your listing. We’ll
make any adjustment that you need.
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Question:
What’s the story on commissions? How can you charge me no
commission when most other local Realtors want to charge 6%?
Liz’s Answer:
Seller Solutions is a fee for service firm. That means that you
only pay for the services that you use. And, you get to pick
which services you buy. The $495 flat fee is to purchase a
package of listing services including; a market analysis, MLS
listing, a walk-through Staging® consultation, use of a lockbox, a customized yard sign, and the
necessary forms for you to sell your home. You save money
because you don’t pay for services that you don’t use. If you
want to buy other services, you can add just what you need. We
never collect a commission and there are no hidden costs.
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Question:
I understand that I have to agree to pay a cooperating
commission if I want to list my property on the MLS. But what if
I find my own buyer, or if a buyer calls you because they see
the Seller Solutions sign in my yard?
Liz’s Answer:
If a potential buyer calls us because they see the Seller
Solutions sign or see your property on a website, we will answer
all calls and refer interested buyers to you to show the home.
If you have purchased showing services from us,
we will show the home as your agent. We do not
work as buyer’s agents on our flat fee listed
properties. If you sell the home directly to an
unrepresented buyer, you will not pay a commission. You only pay a
commission if your buyer is working with an agent. You get the
best of both worlds! Most agents require you to pay the full
commission even if you find your own buyer.
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Question:
If I don’t buy your showing services, I will be showing my own
house to buyers who call directly. Right? |
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Liz’s Answer: |
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Right. And before you show them your home, you
will need to carefully pre-screen all buyers who
are not working with a Realtor. If you are
uncomfortable showing your home or screening
buyers, we can provide that service for you as a
"side order". However, this will be a small
percentage of the buyers who want to see your
home. Most buyers will be represented by
Realtors. These Realtor showings will be
scheduled through a Centralized Showing Service
(CSS). You will choose how you want to set up
showings through CSS. You can require that they
make an appointment to show the house while you're not home. It's up to you. We can provide you
with a computerized lockbox so that Realtors can
show your property either way. It's best for you
to make your property available for showings as
much as possible and for you to leave the house
during Realtor showings.
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Question:
Can agents with potential buyers refuse to show my property
because I am saving money with a flat fee listing?
Liz’s Answer:
Agents want to find the perfect home for their buyers as quickly
as possible as long as long as they are paid a fair commission.
All Realtors are also bound by Law and a Code of Ethics. We are
not allowed to try to fix commission rates across the market,
“boycott” or “blacklist” agencies. We can lose our licenses if
we do that.
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Question: What about open houses? |
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Answer:
Open houses are a good way to increase the exposure of your
home. If you want to have an open house, we can list it for you
on the MLS site. If you don’t feel comfortable actually showing
your own house to potential buyers, you can purchase our open
house hosting services.
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Question:
I guess if a buyer who doesn’t have an agent wants to make an
offer, they’ll come straight to us. But how does it work if a
buyer with an agent wants to make an offer?
Answer:
Some agents will be comfortable coming straight to you to
present the offer once we tell them that is our arrangement.
Some agents will not be willing to do this and will feel more
comfortable presenting the offer to us. In this case, we will
simply deliver the offer to you after we receive it. If you
believe that you need our contract negotiation services once you
read the contract, you can ask us to add that service. If you
are comfortable negotiating the deal yourself, we will provide
you with any necessary forms.
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Question:
This all sounds good. But, I have to do some of the work. How
much money will I save?
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Liz’s Answer: |
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Yes, you’re right. You do have to do some of the work. But, if
you have the time and energy, it will be worth it. In 2006, the
average home in Asheville sold for $275,016. If the owner paid
full commission, they’d lose $16,501. If the same property was
listed with Seller Solutions and sold with the help of a buyer’s
agent, the total cost would be only $495 plus 3%. That’s a
savings of $7755! If there was no buyer’s agent, the savings
would be $16,006! Is that worth the work to you?
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