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FREQUENTLY ASKED QUESTIONS
What is the Multiple Listing Service (MLS)?
MLS stands for Multiple Listing Service. The MLS Listing System is a database of homes for sale in a specific area and is run by the local Board of Realtors®. It's the traditional method agents use to find homes for their buyers or to advertise their listings to other agents.
How much does it cost to get on the MLS?
It costs a one time, up front, flat fee of $299.
How long does my home stay on the MLS Listing System?
Your home will be advertised on your local MLS Listing System for six months. It will likely appear on Realtor.com as well.
Do I get a refund if my home doesn't sell or I convert to an agent before the six months is up?
There is no refund if your home doesn't sell. However, if you're unsuccessful at selling your home yourself and wish to use an agent, call us and we'll refer you to an agent in our broker network. If the home sells through our agent, we'll deduct the $299 MLS Listing charge off the listing commission at closing.
What is the benefit of putting my home on the Multiple Listing Service (MLS)?
There is one very significant benefit to having your home listed on the MLS - EXPOSURE to the local pool of real estate agents! The fact that you have your home for sale in the MLS will now be known by the hundreds, if not thousands, of real estate brokers and Buyers' Agents in your market who are helping buyers find homes.
What is the difference between a Seller's Agent and a Buyer's Agent?
A Seller's Agent lists the property, represents the seller and is legally obligated to put the seller's interests above all others. A Buyer's Agent represents the purchaser in the transaction and puts the buyer's interests above all others.
What does it mean to "co-op"?
Co-op (cooperative payment) means that you would be willing to pay a Buyer's Agent a fee for bringing a buyer to you. Typically, a Buyer's Agent is paid 2% - 3.0% of the sales price. It is necessary to list the commission amount you are willing to pay on the MLS when you list your home with the real estate agent.
What are the benefits of using a Lock Box?
A Lock Box allows you to show your home to buyers while you're not there. This combination lock box is typically hung on the front door and keeps your key safe.
Everyone is busy, and many times you can't be there to show your home when the buyer or agent wants. Typically used by agents for years, a Lock Box ensures you won't miss out on a potential buyer. You can change the code daily if you want to prevent people from accessing your home without an appointment.
If I do not want to "co-op" with a Real Estate Agent, is the MLS Listing still a good idea for me?
No. A Buyer's Agent expects compensation. Without offering it, an agent will have no reason to bring a buyer to your home.
Do I have to pay an agent if I put my home on the local MLS Listing Service but find the buyer myself?
NO! In this scenario, you would have only spent $299.
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