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Frequently Asked Questions
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| Sell Your House and Save Thousands! | Buy a Home and Get Cash Back! |
| Market and Sell Your House and Pay ZERO Commissions | FAQs About Flat Fee Listings |
"The MLS" is the secret to success of real estate sales, directly responsible for about 4 of 5 sales nationwide. About 85% of home buyers use a REALTOR® to help them locate a property. When a possible buyer contacts a Real Estate Agent regarding a home purchase, the Agent will search the MLS for homes matching the buyers' desires, wants and needs. Statistics show that homes listed on the MLS sell faster. Back to Questions
Is this the same Multiple Listing Service (MLS) to which all Realtors® belong? Yes. All participating MLS REALTORS® belong to their regional association of REALTORS®. The Listing Agent that will be assigned to place your property in the proper MLS for your region will be paid from the flat fee that you pay to West Coast Homes - There is no additional fee to pay the listing agent that is assigned to list your property into the real estate multiple listing service. Back to Questions
Is there a "MLS" which may be used by owners selling themselves, without a REALTOR®? NO. There is no FSBO MLS System. The general public is not allowed to use the REALTORS® Multiple Listing Service. Only a State Licensed REALTOR® Member may access and use their regional MLS and list a property for sale, or find homes for buyers. This is the same MLS used by REALTORS® in your area, one you will be listed in, which is accessed by Agents in your area.
NOTE: Please be aware in order to get your property listed into your regional Multiple listing Service it has to be listed by a licensed Real Estate Listing Agent that is a member of the MLS. This agent is assigned to you by West Coast Homes and gets paid by West Coast Homes - There is no additional money you pay to the listing agent. A REALTOR® has to be involved in order for your property to be listed into the MLS and REALTOR.com® - Back to Questions
Is the MLS the best way to sell my home? Yes, the vast majority of homes are sold through the MLS due to the large network of REALTORS® working with home buyers. The National Association of REALTORS® (NAR) reports homes listed by REALTORS® result in a higher net price to the Sellers compared to "FSBO" home sale transactions. Back to Questions
Will Realtors Show & Sell my home if it's not listed on the MLS? It is not likely. Of course, there are a very few exceptions. REALTORS® operate almost completely from MLS computer listings. The MLS Listing Agreement specifies the REALTORS® commission and without this agreement REALTORS® will bypass FSBO homes. Of course, you may sell your home without a REALTOR®, but once listed, REALTORS® do not regard you as a FSBO but simply another listing for them to sell. Real Estate Agents will generally avoid FSBO properties due to the fact that they are working with buyers and have no written agreement to be compensated. If the seller has not agreed in writing to pay a commission to a Buyer's Agent, the buyer could cut the Agent right out of the deal and negotiate directly with the seller. Back to Questions
Will Realtors® Show and Sell my home even though I paid for a Flat Fee Listing? Yes. Your MLS Flat Fee Listing will look exactly the same as any other listing. 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. The listing commission is not shown. The listing brokers name appears on the MLS. Our flat fee listing method gets your property on the same MLS used by your area REALTORS®. Your listing will appear the same as all other mls property listings. Back to Questions
Is it True some Agents may not show my home if they know it is a flat fee listing? Absolutely not! That is a misleading and somewhat fraudulent representation made by some Real Estate Agents in a clever attempt to dissuade you from doing a flat fee listing. First of all, when the Agent sees your listing on the MLS computer, there is no way the Agent knows it's a flat fee listing. The Listing Agent's name and contact information shown on your Multiple Listing Service will be your Listing Agent. In addition, the listing commission is not disclosed on the MLS! Even if the Buyer's Agent somehow knew you were not paying a high traditional listing commission, that would not effect the showings, since the Agent is not concerned about the commission you are paying the listing broker. After all, the Buyer's Agent ONLY cares about the compensation offered to him/her to sell your home, not how much you paid the Listing Agent! Back to Questions
Will Realtors® show and sell my home if I am not listed with their company? Yes. The main purpose of MLS is for REALTORS® to sell each other's listings. Back to Questions
How important is it the listing REALTORS® office be in my neighborhood for my home to sell? It does not matter. It's merely an often-used false marketing method and fabrication to get you thinking it makes a difference so you end-up listing with them. Comparatively few potential buyers reside in your neighborhood. Most buyers come from another part of town, different areas, another city, or out-of-state. Even if a prospective buyer happens to live nearby, why would location of the listing broker make any difference at all? Keep in mind, a buyer who comes via The MLS in all likelihood already has a REALTOR® who is their buyers' Agent. A buyer rarely hires the Listing Agent. If the Buyers' Agent needs to contact the Listing Agent they normally use the phone or fax to submit purchase contract offer . . . in-person contact is never really needed. The listing broker could be located in another city or even out-of-state, it really makes no difference. Back to Questions
Who Will Realtors® call for Showings? You, the Seller. The most common way showings are done, is the listing broker indicates showing instructions on the multiple listing service computer. This will say "Call Owner direct to arrange for a showings" (giving your name and contact phone number) P.S. There are a few areas in the country where broker's phone number is given for showings as the MLS does not permit Owners' contact info. If so, the listing broker will refer the call directly to you, to schedule the showing appointment. REALTORS® customarily call Owner before showing the home. Back to Questions
How long should I expect to be on the market? Your home should sell quickly if priced right, in a good location and shows well. The MLS & REALTOR.com® will draw maximum attention to your home. Back to Questions
How long will my property be listed on the MLS for the flat fee? The MLS flat fee listing is good for 12-months. Most homes are sold within a couple of months of listing or sooner. Many homes listed have sold within a day to a week. Rarely is a renewal of the listing needed. The agent will offer renewal of the listing -- check with agent as to the fee, which you pay him/her direct. Back to Questions
Can I cancel my Flat Fee Listing at anytime? Yes, you can cancel your listing at any time. Just notify the listing agent you wish to cancel your listing. Back to Questions
Is there a benefit to listing with a traditional high-commission broker? NO. Your listing will end up in the same MLS. if you re-list your property with a more Traditional Real Estate Agent charging you higher commissions. However, there are no refunds once your property is listed in your regional Multiple Listing Service.
Do you offer a money-back guarantee if not satisfied after my home is listed if I cancel my listing to go with another REALTOR®? If you are not completely satisfied you can qualify for a 100% money-back guarantee under certain conditions. This is based on West Coast Homes referring your listing to a new real estate broker of your choice, and who is acceptable to both of us.
In the event you want to cancel (for any reason), and wish to list with a more traditional broker (of course, prior to getting a sales contract), we agree to refund the money you paid us by rebating the money payable at close-of-escrow as long as all parties agree to a standard REALTOR® Referral Agreement. Back to Questions
What's included with my listing? The MLS, exterior home color photo, REALTOR.com® &; and other internet sites provided by your MLS, plus many extras as listed on the website page EXTRAS. Back to Questions
What is the difference between a "Selling Agent" and a "Listing Agent"?
- The term Agent means a Licensed REALTOR.® Some people use the word Agent others use the word REALTOR® - it means the same as far as descriptions go to the public.
- Please note that West Coast Homes will not always be your Listing Broker/Agent. In some instances we may refer your listing to an affiliate Broker. Said broker shall be obligated to marketing and services detailed in our website.
- West Coast Homes in some instances provides a referral service to owners of real estate property. Once you buy the service from West Coast Homes, we may refer your MLS flat fee listing to a Listing Real Estate Agent that is a member of your regional MLS. This Listing Agent is providing you with a tremendous service by listing your property in the MLS, REALTOR.com®, etc. and saving you thousands of dollars in real estate commission for the flat fee you paid West Coast Homes- Once your property is listed in the MLS, West Coast Homes pays the listing real estate agent.
- A Selling Agent is the Real Estate agency who actually sells the property. They are sometimes called Buyer's Agents.
- The Listing Agent is the Real Estate agency who lists your home for sale in the MLS. Back to Questions
Do I have to pay a Commission if house sells because of the MLS?
Yes. Any REALTOR® bringing a ready, willing and able buyer with a satisfactory contract will be due a "selling" commission of your choice. This commission must be determined by Seller when completing the Listing Agreement. This Commission is shown on the MLS. Back to Questions
How much commission do I have to pay to the Buyer's Agent? The commission the Seller pays the Buyer's Agent is totally up to the Seller. Real Estate commission fees are not FIXED, fees are negotiable by LAW. REALTORS® cannot demand the Seller pay a certain commission to sell their home on the MLS. REALTORS® that demand the seller pay 3% to buyer's agent can and will have their license revoked. Back to Questions
If I find my own buyer, will I still have to pay a selling commission? No. If you find a buyer for your home with no Agent being the procuring source, there is no commission to pay. Back to Questions
Do I need a lockbox while house is listed on MLS? Owner can decide whether or not to use an optional key-lockbox, which is a metal container for your house key(s) and is normally hung on the front door knob or gate. The MLS Listing will advise Realtor's if they can not reach you by phone, they may use the key lockbox for showings. It provides access to Agents when the owner is away, thus assuring full exposure to prospective buyers. Without a lockbox, Agents representing buyers will have to set appointments to meet you at the house to view the home. If you do not have a lockbox, you may miss out on some potential buyers who do not have time to wait. Lockboxes are completely removable and controllable by you. Your Listing Agent will indicate your showing instructions on the MLS and contact phone number to call you first for showings. Showings are most always done on an appointment only basis (assuming key lockbox is not used if unable to reach you). It is rare an Agent will knock on the door without first making appointment with the homeowner. If you want a REALTORS® electronic lockbox you can request one from the listing agent (not all flat fee listing agents have or use electronic lockboxes, due to the cost and delivery time required for installation and removal from door with special key only real estate agents have.) The listing agent will lease one to you for a fee. Back to Questions
I have a For Sale By Owner sign, should I use the Realtor's sign? You can replace your sign with the Realtor's sign if you wish. If you prefer to display your listing broker's sign, many do offer a sign FREE or as an optional service for a fee. After you get listed in the MLS, ask your Real Estate Agent if you can use their for-sale-sign, rather than your "For sale by owner sign." Alabama, Georgia, Kentucky, Indiana, Iowa, Mississippi, New Mexico, Ohio, Oklahoma, South Carolina, Utah - MLS requirement is NO "FOR SALE By Owner sign" is allowed when listed in the MLS. MLS rules and regulations change daily. We have no control over this aspect of the listing. Back to Questions
Can I use my own exterior home photo for the MLS? Yes, it is recommended that you send via email to the listing real estate agent the photo(s) in jpg format. However, it is highly recommended to let the MLS photographer* take a professional photo of your home. Once inputted into the MLS, the photographer is dispatched to take the photo. Photos usually uploaded to the MLS within a few business days. The MLS then transfers the photo to the public internet sites for your area. *subject to some MLS regional restrictions - some MLS have a photographer to take an exterior photo and others do not have a photographer to take a photo. If the MLS does not have a photographer to take 1 photo, the seller can submit a photo via email to the agent. Back to Questions
Can I have additional photos added to the MLS or get a Virtual Tour? Yes. After you get listed on the MLS ask your Real Estate Agent for that option. Many of the referral Real Estate Agents usually offer extra photos for $5 to $10 each or less (some even do for free) and virtual tours from $89 to $199 which is a reasonable additional fee. The cost is very minor compared to the benefit of saving thousands of dollars in real estate commission. However, additional photos and virtual tours are not necessary as the real estate multiple listing service in all likelihood will sell your home, with or without paying for extra cost services. Back to Questions
Do you offer free forms and contracts? Yes, we currently have forms available on our website. We are adding more forms for your convenience. When you list your home with us, we will email you all the forms needed if you sell by owner. If your home sells thru the MLS, the buyer's agent will prepare the purchase contract.Back to Questions
Why signup with West Coast Homes
- We only work with licensed and experienced Real Estate Brokers
- We have access to the largest Realtor Network in America
- Your property will be listed quickly
- We offer more exposure than any other company
- We give you more for your money
- We give you more marketing and selling options (see vacation certs)
- We give you more ways to save and even make money on the sale, (Click here)
- We can save your buyer money that saves you money and makes for a quicker sale.
- We are open Weekends
- There are no hidden fees or charges
- FREE forms, plus reports, etc
- No other Flat Fee MLS company offers as much exposure and coverage!
What steps are involved in getting my property listed in the MLS?
- Place your flat fee listing order
- Within 24 hours, you will receive forms such as Listing Contract (see sample agreement), MLS Data Sheet, etc...
- Fax back the completed forms and typically your Agent will typically list your property within 24-48 hrs . . . after getting your completed forms back, such as the Listing Contract, MLS Data Sheet, etc.
- Your home is listed on the MLS, REALTOR com® & other websites as soon as you return paperwork to the Listing Agent and it's uploaded into MLS.
How do I determine the sales price for my home? There are a number of was to get a home evaluation. Everyone's heard of Housevalues.com the fact of the matter is that is nothing other than a lead generation source. Fill in the information and you will have 20 or more realtors contacting you, a "free home valuation estimate" (I'm not exaggerating! I've tried it!). They are free, but potentially a pain-- but your choice.
You can get an instantaneous and highly accurate appraisal by the use of an "Automated Valuation Model". This is not to be confused with the "free appraisals" where you give an address and the spit out a value. Those are not accurate!
The "Automated Valuation Model" asks you property specific questions, and evaluates recent trends in YOUR neighborhood and then calculates a highly accurate estimate. It's not FREE, (about $35 or so) but it's instantaneous and it's ACCURATE!
If you prefer a professional estimate of value by a professional in your area, please call us. We will have ONE (not 20) of our experienced affiliate brokers contact you at no cost or obligation.
How does information about my house get on the MLS? The Listing Agent will have you complete the MLS Data Sheet. This Data Sheet will require you to answer all questions listed, which will supply Buyers with the type of information they require to see if your home meets their buying criteria. The MLS Data Sheet fields cannot be customized. You will however be able to write a description highlighting your home's special features. The information on the Data Sheet also goes to REALTOR.com®, plus all the public internet sites for your area. Back to Questions
Can I add more information to the MLS later? Yes. You can add information to your listing, such as room dimensions or description. Back to Questions
Can I make changes to my MLS listing? Yes you can make changes, just contact the listing agent. Back to Questions
What is the difference between public websites, such as REALTOR.com®, and the MLS? Public websites like REALTOR.com® receive listings directly from the MLS itself. Unlike the MLS which is updated instantly, the public internet sites are typically updated every 2-3 business days. Because of this, REALTORS® only use the MLS system, which is a closed system linked to their offices. Back to Questions
Can I go to a website and see my MLS listing? Yes, the MLS is on the internet and buyers can go and view all the listings. Plus in order to get listed on REALTOR.com® you have to first be listed in the MLS. Back to Questions
Can I go to a website to print and email color brochures of my listing? Yes. REALTOR.com® offers the ability to print and/or email color brochures of your listing to hand out to potential buyers. Back to Questions
What Internet sites will my listing appear on? Depending on your area, your listing will appear on many internet sites. Plus licensed REALTORS® can display all of the MLS listings directly on their own private website. However, keep in mind that all of these websites will contain the same information about your listing, as it is coming directly from the MLS. As you can see, it is really impossible to predict exactly how many websites your listing will be on. Aside from the private websites owned by REALTORS®, your listing may also appear on major public internet sites such as REALTOR.com®, MSNhomes.com, Homes.com, Homestore.com, Homeadvisor.com Yahoo.com and others. Back to Questions
Will my contact information appear on Realtor.com* & other public websites? No. REALTOR®.com is NOT the MLS. REALTOR®.com's main benefit is so home-buyers may contact a REALTOR® for more information and showings. It is not for home-buyers to contact you as a FSBO (which is a common misconception). REALTOR®.com has a rule that seller's personal information is not allowed to appear (but it does go on The-MLS - please don't get them confused). Contact information (Seller's Name, Phone Number and Address) appears on the Multiple Listing Service for Realtor's to view for contacting sellers for showings, etc. However, some MLS's allow for seller contact information to appear. Back to Questions
How long will it take for my MLS listing to appear on the public internet sites? The MLS sends listing information at different times to the different public internet sites. Once your listing is entered into the MLS system, it appears instantly to REALTORS® and their buyers. Back to Questions
Can I ONLY get my House listed on REALTOR.com®? No. You have to get listed into the MLS before your listing can appear on REALTOR.com® -- Back to Questions
Is the Listing Agent involved with the sales contract? Typically No -To save on commission, you will handle many details of the sale yourself. The Listing Agent is mainly getting paid to list your property on the MLS, as you requested. If the Seller requests assistance with the purchase contract, counter-offers, placing contract in escrow, contingency issues, closing & settlement matters - the Listing Agent offers extra services for a reasonable additional fee. (If you are the buyer is using our sister company American Home Loans for the purchase loan, the lender will assist at no additional charge on many of these issues). If you want or need additional assistance involving your transaction (though you should be able to handle things yourself) ask your Agent about other available services. Most of our associates offer additional optional services. Back to Questions
Is the Listing Agent involved in negotiations? No, not unless you specifically request the Listing Agent's consultation. You will handle all showings, inquiries, and sales contract presentations on your own. Back to Questions
How can I get my contract reviewed? The Listing Agent is the most knowledgeable and qualified person to review the contract for you. Back to Questions
Once my paperwork is received, how long before my home is listed in the MLS? Depending on the time of day, listings are usually inputted into the MLS system the same business day everything is received. Back to Questions
How do I pay for my MLS
listing? Payment is made in advance with:
Is REALTOR.COM and THE-MLS SYSTEM THE SAME? No, they are separate and distinct services with different websites and usage. Realtor.com is run by The National Association of Realtors® and picks up all the Nationwide MLS Listings from the hundreds of Multiple Listing Services around the Nation and puts the property information in their website.
Who uses Realtor.com? Do Realtors® access it? Anyone can access and use it but NO, it's rarely used by Real Estate Agents. It's designed for and mostly used by private parties who want to search for appropriate properties thruout the nation.
Can I get my property in Realtor.com and get home buyers to contact me direct and thus not need to pay a commission to a buyers agent? Absolutely not. Realtor.com is designed for you to locate properties yourself and then contact the listing agent at the location where the property is located for information and to arrange for a possible showing and purchase thru the REALTOR (not direct thru the homeowner).
Am I able to get my name, address and phone number shown in Realtor.com? No, realtor.com does not permit that. It is only for Realtors benefit and public information can not be shown. There is no way to list your personal contact details in Realtor.com as it violates their rules and regulations.
Will my Name, Address and contact phone numbers be shown in The-MLS System? Of course they will in almost all cases except a relative few MLS's where the MLS only permits the Realtors contact info shown and requires the Realtor to arrange for all showings. It is quite unlikely your regional MLS does not permit your contact details to be listed. Most all discount flat fee brokers and agents prefer the buyer agent to contact you direct for showings.
Who uses The MLS System? Can buyers access it? No, only Realtors can use the MLS System to find properties for there buyers. Many MLS's allow the public to view listings, however, seller's contact information is not shown to the public (only to Realtors). The MLS is designed for and used by area licensed real estate brokers and agents to locate appropriate properties for their buyer clients.
Back to Questions