The Multiple Listing Service (MLS) is a local realtor association membership database. It is mostly a non-profit organization. Usually it covers one to five counties in an area. All of the realtors will help each other sell their listings. When you list a property with one realtor, you essentially hire all of the realtors who belong to that MLS.
The MLS has over 90% of residential properties for sale. All types of real estate property are listed in the MLS; houses, townhomes, condominiums, commercial property, lots, acreage and even rental properties. 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 out of 5 sales nationwide. About 85% of home buyers work with a realtor to help them find a property. Realtors rely primarily on the MLS to meet the needs and preferences of their buyers.
When you list a property with Realmart for a flat fee, you are essentially acting as a listing broker yourself. You do not need to disclose that you are not paying a commission on the listing side. We always advise you to remove all references of FSBO and stop marketing the home as soon as your home is listed on the MLS. Many homeowners do not understand that, and keep trying to market their home as FSBO. It is a very costly mistake. Please be smart, and keep it a secret that you are not paying a commission to Realmart. Let all buyers and realtors assume you are paying the full 6% commission.
The three biggest reasons for you to remove all references to For Sale By Owner, or FSBO, on your signs, web sites, flyers, any marketing materials:
1) FSBO unfortunately attracts bargain hunters only. They feel you are desperate to sell and will offer only ridiculously low prices.
2) It scares away local buyer agents as they are afraid of losing their commission.
3) It attracts realtors to solicit your listing, as 95% of realtors that call or visit your FSBO property, will try to become your listing broker at full 5-6% commission to list in the exact same MLS.
Once you are on the MLS, you just hired 1000+ buyer agents working for you. You have the same playing field as all other homes on it. All buyer agents are protected. Please be aware of those local listing agents who contact you while your home is actively listed on the MLS. We would like to advise you that it is UNETHICAL and ILLEGAL to solicit your listing. Please report them to us immediately and file a complaint on NJAR web site:
Your home should sell quickly when priced correctly. On average, a home is sold within the first 3 months. Our flat fee listing is by default, 6 months, which is more than enough time for a buyer agent to sell it.
As you know “PRICING” and “STAGING” are the most important factors for selling fast. Please review our site to learn more:
1) Pricing: http://wiki.realmart.com/pricing-your-home/
2) Staging: http://wiki.realmart.com/home-staging-tips/
YES, If you wish to cancel within 30 days after your order is placed, but before your listing is entered, there is a $25 cancellation fee. This fee covers what we are charged by the credit card company.
If you wish to cancel more than 30 days after your order is placed, but before the listing is entered, a refund cannot be issued. However, your order will remain valid and you may enter your listing at ANY TIME in the future.
After your listing is entered, we unfortunately CANNOT issue a refund. The service you paid for is considered provided once your listing is active in the MLS. However, if you wish to cancel your listing, that’s not a problem and you will not be charged any additional fee.
There is a refund of $80 for Realtor Lockboxes after they have been returned , in good working condition. Yard Signs are free; the $25 charge is for packaging and shipping.
Realmart.com is very simple and fast to list your home. All the listing forms and questionnaires are online and your listing will be live in the MLS within one business day after you finish the sign up process. If you have a question regarding the listing process, we have live customer support from 9 am to 9 pm EST, 7 days a week.
We do our best to provide outstanding customer service to make our clients happy. If there is ever any problem, or if you feel we did not live up to your expectations, please call our office. We are always here to help you.
Flat fee listings allow the homeowner to act as the listing agent, where Realmart acts as the transactional broker. The flat fee of $395 covers the listing part and the buyer agent usually gets paid 2.5-3% commission.
The full service listing is a total representation by a listing agent for 5-6% commission, where half of the commission is paid to the listing agent and the other half paid to the buyer’s agent.
Both types of listings are on the MLS and almost all of the time, the home is sold by a buyer’s agent. We all rely on buyers’ agents to sell the homes. Also note: if you sell it yourself while listed with us, you do not pay any commission. On the other hand, if you find the buyer while listed with a traditional broker, you will still pay a full commission.
- 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.
Note: Some changes require an additional fee, most are free.
Realmart has introduced this 1% professional agency plan due to high demands from sellers who are not 100% confident in representing themselves as a listing broker. This service provides a middle ground between flat fee MLS service and 5-6% commission full service listing plan. The details are listed below:
$695 Flat Fee + 1% At Closing (Includes Legal Fee)
- Listing until sold with free rolling 1 year extensions
- Unlimited seller-hosted open houses (Agent hosted open houses available upon request)
- FREE 3D Photo and Floor Model (on-line open house 24 Hours a day)
- 365-day 9am-9pm live customer service with online appointment scheduling
- Free For Sale Sign Package (1 For Sale Sign + 4 Open House Signs)
- Realtor Digital Lockbox (Supra, Codebox or SentrilLock) where available
- Professional agent consultation on pricing, clean up, repair and staging ideas
- Full paperwork support and legal representation from contract review to closing (Save $1500 legal fees)
- Dedicated professional guidance/coaching on negotiation, inspection, appraisal issues etc.
- Total Cost: 3% (1% or $3000 (whichever is higher) to listing agent + 2% commission to a buyer agent)
100% Money Back Guarantee(see details)
It depends. When a realtor offers to stage your home, help guide home repairs and renovations to make it ready for sale, they should also provide professional photography service and promise to do open houses each week after it is listed. When there are showing requests from buyers or buyer agents, they will always personally come to each showing to actively sell your property. These agents are worth every penny for the 5-6% commission.
Most realtors are not providing such services and usually put a realtor lockbox on the property, letting the buyer agent show the property alone. They rarely conduct open houses by themselves, rather having junior agents in their office to do so. Homeowners rarely see them after their home is listed on the MLS. Those types of agents are not worth the 5-6% full service.