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Frequently Asked Questions About FLAT FEE MLS LISTINGs MLS and Realtor® Questions
What is the Multiple Listing Service?
The Multiple Listing Service (MLS) is the key to Home-Sales Success. The MLS lists the vast majority of real estate listings which are listed "for sale" by real estate brokers and their agents. All types of real estate property is listed in the real estate multiple listing service; houses, townhomes, condominiums, commercial property, lots, acreage and even rental properties. There are thousands of local Multiple Listing Services located thruout the nation. Real Estate Associations in all 50 US states and Canada run their own MLS Systems. Statistics show that homes listed on the MLS sell faster. "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.
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Is this the same Multiple Listing Service (MLS) to which all Realtors® belong?
Yes. All participating MLS Realtors® belong to their local association of Realtors®. Your Listing Agent will place your property in the proper MLS for your area.
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Is there a "MLS" for owners selling themselves can use 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 local 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 local Agents in your area. NOTE: When using our MLS service Listing service, please be aware that you are required to have a Listing Agent to get your property listed into your local Multiple listing Service. A Realtor has to be involved in order for your property to be listed into the MLS and Realtor.com
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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.
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Will Realtors® Show and Sell my home even though I paid for a Listing?
Yes. Your FLAT FEE MLS 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, not 4thishouse.com name. Our listing method lists your property on the same MLS used by your local Realtors. Your listing will appear the same as all other mls property listings
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Is it True some Agents may not show my home if they know it is a free 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 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 MLS listing. The Listing Agent's name and contact information shown on your local Multiple Listing Service will be your Listing Agent/, not 4thishouse.com. 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!
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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.
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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
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Who Will Realtors® call for Showings?
You, the Seller. The most common way buyer showings are done, is the listing broker indicates showing instructions on the multiple listing service computer. This will say "Realtors 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 local 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' custom is to call Owner before showing your home
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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 will draw maximum attention to your home.
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How long will my property be listed on the MLS?
The FLAT FEE MLS LISTING is good for 6 month. Most homes are sold within a couple of months of listing or sooner. Many homes listed have sold within a week. Rarely is a renewal of the listing needed. Additional listing renewals are available FREE of charge prior to the listing expiry date.
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Can I cancel my Listing anytime?
Yes, you have control over your listing and can cancel anytime you wish. But remember that all Realtors are on the same local MLS system, so your listing will wind up in the same place when you re-list your property with a Traditional Real Estate Agent charging you 6% commission. Of course, there are no refunds once your property is listed in your area Multiple Listing Service. You may withdraw your listing at any time from the MLS system by notifying your Listing Agent or 4thishouse.com at support@4thishouse.com.
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Do you offer a money-back guarantee if I cancel my listing to go with another REALTOR®?
Yes. If we do not completely satisfied you qualify for a 100% money-back guarantee. This is based on 4thishouse.com referring your listing to a new real estate broker of either your choice or ours, 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. There is also a $50 minimum administration fee for all submitted orders that are not yet placed into the MLS.
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What's included with my listing?
The MLS, possibly exterior home color photo, Realtor.com® and other internet sites provided by your local MLS, plus many extras as listed on the extras page
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What is the difference between a "Selling Agent" and a "Listing Agent"?
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Do I have to pay a Commission if house sells because of the MLS?
Yes. Any Realtor® bringing a ready, willing, & 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. But, you pay no commission on the National MLS Program.
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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
. However the MLS requres tht you place the amount in the MLS listing we recommend 2-3% depending on the value of your home.
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If the Listing Agent sells my home will I still owe a commission?
Yes, but you still pay only 1 commission-. If the Listing Broker has a buyer for your home he/she will be entitled to the co-broke commission for selling it. Regardless of which REALTOR® sells your property, you still pay no listing commission and only pay one real estate commission in total due to the broker who was the procuring cause of your buyer. When a REALTOR® sells your property, you never pay more than one sales commission, plus the small 4thishouse.com service fee.
Refer to the www.4thishouse.com main page MLS pricing to check if there are is a flat closing fee to brokers.
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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 payBack to Top
When will I receive the Sign & Lockbox I ordered?
The sign and key-lockbox will be shipped via UPS ground when we receive your FLAT FEE MLS LISTING Number from the Listing Agent. Sometimes the Agent is slow in submitting the MLS #, it is recommended that the Seller submit the MLS # to us to speed up the shipping process of sign & lockbox. You can also email support@4thishouse.com to recieve a tracking number for your yardsign and lockbox.
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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 FLAT FEE 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. Please note: the lockbox that we will send it the same realtor mechanized one. it is available for purchase for 55 dollars.
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I have a For Sale By Owner sign, should I order yours?
We recommend that you use your 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 a 4thishouse.com. In some areas, the MLS requires that the Listing Broker display his sign on the property. You can also display the 4thishouse.com sign along side of the Realtor's "For Sale Sign" going in the MLS. Some Listing Agents do not offer signs.
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Can I use my own exterior home photo for the MLS?
Yes. Once input into the MLS, photos usually uploaded to the MLS within 2-5 business days. The MLS then transfers the photo to the public internet sites for your area. *subject to some MLS area restrictions.
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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. The vast majority of our referral Real Estate Agents offer extra photos for $10 each and virtual tours up to $149 which is a reasonable additional fee. The cost is very minor compared to the benefit of thousands of dollars in real estate commission savings. 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.
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Do you offer free forms and contracts?
Yes, we currently have forms available on our website. We are adding more forms for your convenience.Back to Top
Why list your Property with 4thishouse.com
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What steps are involved in getting my property listed in the MLS?
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How do I determine the sales price for my home?
You can Click on link to get this information. We have heard from many sellers that this service works extremely well. Estimate the value of your home or other real estate with a CMA. (comparative market analysis.)Back to Top
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.
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Can I add more information to the MLS later?
Yes. You can add information to your listing, such as room dimensions or descriptionBack to Top
Can I make changes to my FLAT FEE MLS LISTING?
Yes you can make changes.Back to Top
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 use only the MLS system, which is a closed system linked to their offices.
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Can I go to a website and see my FLAT FEE MLS LISTING?
Yes, you may go to Realtor.com* or any other public website in your area and view a paraphrased version of your listing. Keep in mind that this is NOT your actual FLAT FEE MLS LISTING. Unless you are a licensee and MLS member, you cannot access the MLS to see your actual listing. However, you may at any time request a copy of your actual FLAT FEE MLS LISTING from your Listing Agent.
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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 Top
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 FLAT FEE 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.(*Note: Since these are 3rd-party sites we do not guarantee your inclusion there)
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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.
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How long will it take for my FLAT FEE 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. However, depending on your area, it may take anywhere from 2-7 business days before your listing will appear on all of the public internet sites.
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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 may offer extra services for a reasonable additional fee. 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.
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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 Top
How can I get my contract reviewed?
The Buyers Agent is the most knowledgeable and qualified person to review the contract for you. You can also hire a lawyer to review the contract this is normally available for a small fee.Back to Top
Once my paperwork is received, how long before my home is listed in the MLS?
Depending on the time of day, listings are usually input into the MLS system the same business day everything is receivedBack to Top
How do I pay for my FLAT FEE MLS LISTING?
Payment is made in advance with:
We also accept PayPal.
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*Note: Since Realtor.com plus many other Internet Real Estate Websites are 3rd-party sites we do not guarantee your inclusion there. The majority of MLS send their listings to Realtor.com, there are a few MLS in Wisconsin & Michigan that do not allow these types of listings to go to Realtor.com and other Internet websites
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