Got Questions about our Flat Fee MLS Listing? We’ve Got Answers!
What is the MLS?
MLS stands for the Multiple Listing Service. The MLS is a database of homes for sale in a certain area. The MLS is used by Real Estate Brokers to list homes for sale and find homes for their clients. Listing in the MLS is the best way to make Real Estate Brokers aware of your home as it is typically one of the only tools they use to locate properties for their clients. Only licensed Real Estate Agents have access to the MLS and only they can list property for sale in the MLS.
What Happens when a Broker wants to Show my Home?
Your name and phone number are placed in the “Agent Only Remarks” section of the MLS listing and brokers are instructed to contact you to schedule a showing. The broker wishing to schedule a showing simply calls you and to schedule an appointment. If your home is not on a lock box and you plan to open the door for them, we recommend that you meet them to let them in, provide a flyer, give a quick introduction of the property and then let them look around on their own. After they have finished viewing your property you can make yourself available for questions.
Why Should I Have my Home or Property Listed in the MLS?
Real Estate Brokers use the MLS almost exclusively to search for homes and property for their clients. Since more than 80% of buyers are represented by a Broker, we feel that having your home listed in the MLS is a tremendously important part of the marketing mix. In addition, by placing your home in the MLS your property then becomes eligible to be included on REALTOR.com® (when you list with us it’s always placed on REALTOR.com® as a Showcase listing) and other national real estate web sites. We think it’s important to have exposure in both the local MLS and on the national web sites. The local MLS makes your home available to brokers who are looking for their clients and the national web sites make your home available to the public who are looking on their own. Internet ads have become the number one place for buyers to find homes and according to statistics released by the National Association of REALTORS®, internet ads are three times more effective at attracting buyers than then next most popular way buyers find homes – yard signs.
What Commission Do You Recommend Offering the Buyer’s Agent?
While there is no standard commission, the majority of sellers offer a 3% commission to a broker who brings a buyer. When deciding how much to offer, remember that the higher the commission the more attention it will get from brokers. Keep in-mind, that with our listings if you happen to find a buyer on your own, through Craig’s List, newspaper advertisements, a yard sign or other means, you will not have to pay any commission increasing your savings even more.
At what Price Should I List My Home?
The price you decide to list your home for is entirely up to you. It’s best to be realistic about the price – in today’s market the number one factor that contributes to successful sales is a good or even slightly aggressive price. Many of our clients take some or all of the commission savings and use it to offset a lower asking price, making their home that much more competitive in the market by undercutting the competition. Remember, you can also change your asking price at anytime by sending us the new price via e-mail.
How long does it take for my Listing to be added to the MLS and to show up on REALTOR.com® ?
We will post your home to the MLS within one business day of receiving your paperwork and photos. Within 24 hours of your home being listed in the MLS, it will appear on REALTOR.com® and the other national web sites.
Can you use My Pictures for the Listing?
Yes, absolutely. Once you have sent in your listing package, simply e-mail your photos to Photos@Hardy-Co.com.. For best results we recommend that photos be:
- Light and Bright – turn on interior lights and force your flash to be on
- Free of Clutter – a clean home always shows better
- In Focus – make sure your photos are sharp and not blurry
Photos should to conform to the following:
- Minimum of 800 pixels wide or tall – we will format your photos to the proper size upon receipt
- JPG file type
Good photos are VERY important and can make the difference between a buyer scheduling a showing or not. If you decide that your photos are not representing your home well, we can shoot the photos for you. Please visit our Professional Real Estate Photography Page for additional information.
How long is the Listing Agreement?
The listing term is 12 months.
Can I cancel my listing?
Yes, you can cancel your listing at any time without cost or penalty.
Who Handles the Forms and Paperwork?
After we receive your listing order, we will e-mail you a listing packet that contains all the necessary listing forms and disclosures. You will then complete them and return them to us via e-mail, fax, or snail mail. Once we receive the paper work, we will review it and contact you if there is anything missing or completed incorrectly.
At the time you receive an offer, it is up to you to complete counter offers and purchase agreements on forms you and the buyer both agree to. If you decide you need additional assistance, we are here to help with our Contract and Closing Support Program. When you add Contract and Closing Support to your listing, we step in at the moment you receive an offer and represent you fully from that point through closing. Our Contract and Closing Support Package includes the following:
- We Fully Represent You from the Moment You Receive and Offer.
- We Negotiate All Offers, Counteroffers & Contingencies.
- We Handle all the Paperwork on Approved Real Estate Association of New Mexico Forms.
- We Work with the Title Company and see you through the Closing Process.
The cost of this service depends on when you choose to signup:
- If you decide to have us represent you in all contract negotiations, from the beginning, you pay only $500 at the time of listing. We then help you with as many offers as you receive.
- If you decide to have us represent you in contract negotiations, when you get an offer, you pay $500 when you receive your first offer and then $500 for each subsequent offer.
Add Contract and Closing Support to Your listing Now:
What Type of Listings do you Accept?
Your Listing in the MLS can be for just about any type of property, Including:
- Residential Homes
- Commercial Buildings
- Multi-Family Properties
- Rentals (both commercial and residential)
What is a Lockbox and should I use One?
A Lockbox is a metal container that is typically attached to your front door or gate. Inside the lockbox, you place your keys. There are two types of lock boxes:
Electronic Lockbox – is a lockbox that only Real Estate Brokers can open using a key that electronically monitors access.
Manual Combination Lockbox – is a lockbox that you can purchase at any major home improvement center. The lockbox is opened using a combination.
The MLS Listing will advise Real Estate Brokers if a lockbox is in place and how to access the property using the lockbox for showings. The decision to use your lock box is entirely yours. We like lock boxes as they allow your home to be shown when you are at work or out of town, assuring full exposure to prospective buyers. In addition, most Real Estate Brokers choose the path of least resistance when deciding which homes to show. If you home does not have an electronic lock box many brokers will decide that showing your home is too much of a hastle. If you decide to use a lockbox it can be removed at anytime – please let us know if you remove it so we can update the MLS listing accordingly.
If you decide to use an electronic lockbox, we have them available for rent for the term of your listing. The charge to use one of our lock boxes is $150, with $50 of that amount refunded to when you return the lockbox to us. A lock box is included in our Full Service Flat Fee Listing.
If you have a Question that has not been Answered.
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