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  Frequently Asked Questions

Q 1. What's included with my listing?
Q 2. How long will my listing stay active on the above websites?
Q 3. Will agents and other real estate companies show my home if I am not listed with their company?
Q 4. How long is the listing period?
Q 5. Will realtors, agents and brokers show and sell my home even though I paid for a Flat Rate Listing?
Q 6. Do I have to pay a selling commission if I find the buyer?
Q 7. Do I need a lock box while my house is listed with Flat Rate Brokers?
Q 8. Do I use a for sale by owner sign or a Flat Rate Broker sign?
Q 9. Who will be responsible for my home photos?
Q 10. Do we have to pay a commission if our home sells because of it being listed on the Multiple Listing Service?
Q 11. What other fees or charges are there?
Q 12. Are there any other closing costs?
Q 13. Do we have to include a home warranty?
Q 14. How will agent, brokers and realtors contact me when they want to view my home?
Q 15. What about our dog, cat or other pets during showings?
Q 16. Who does the negotiating when we receive an offer?
Q 17. Who will do the paper work, arrange for title insurance and coordinate transaction?
Q 18. Will we get feedback when an agent, realtor, or broker shows our home?
Q 19. How long have you been in the real estate business?
Q 20. What is the Multiple Listing Service (MLS)?
Q 21. How important is having our home listed on the Multiple listing Service (MLS)?
Q 22. Will I still be a for sale by owner if we use your service?
Q 23. What if we do not like your service or want to try a different real estate company?
Q 24. What happens if we have a person who wants to write up an offer?
Q 25. Can we handle our sale transaction and choose the title company we desire?
Q 26. What do we do if a showing appointment is scheduled and they do not show up?
Q 27. What if someone knocks at our door and wants to see our home?
Q 28. What if our buyer backs out, cannot sell his current home, or cannot obtain financing?


Q 1. What's included with my listing?
Your home listed on the following real estate websites:
www.Realtor.com
www.MiRealsource.com the multiple listing service used in Michigan by realtors, brokers, and agents.
A: Your home will also show up on at least 5 other major real estate portals.
All other services can be ordered separately.

Q 2. How long will my listing stay active on the above websites?
A: Your listing will stay active according to the listing plan you select.

Q 3. Will agents and other real estate companies show my home if I am not listed with their company?
A: Absolutely! The multiple listing service was created so that agents from all companies in Michigan can show and sell each otherís listings.

Q 4. How long is the listing period?
A: It depends on the plan you pay for. It can be anywhere from 60 days to several years.

Q 5. Will realtors, agents and brokers show and sell my home even though I paid for a Flat Rate Listing?
A: Yes. Your Multiple Listing Flat Rate Listing will look exactly the same as any other listings.

Q 6. Do I have to pay a selling commission if I find the buyer?
A: No. If you find a buyer for your home with no agent being the procuring source, there is no commission to pay.

Q 7. Do I need a lock box while my house is listed with Flat Rate Brokers?
A: Using a lock box is totally the decision of the home owner.

Q 8. Do I use a for sale by owner sign or a Flat Rate Broker sign?
A:
It is totally up to the home seller as to which sign he or she may want to use.

Q 9. Who will be responsible for my home photos?
A:
One photo of the exterior of your home will be taken by the Multiple Listing service Mi Realsource and put into your listing. All other photos depend on the package you select.

Q 10. Do we have to pay a commission if our home sells because of it being listed on the Multiple Listing Service?
A:
You are only required to pay a commission to the agent who brings you a buyer.

Q 11. What other fees or charges are there?
A There are only 2 fees you are obligated to pay real estate companies, brokers or agents.
You are obligated to pay the flat rate broker fee that you select.

B If an agent brings you a paying buyer, you are obligated to pay that agent a commission that you agreed to (commission will be deducted out of your proceeds at closing).

Q 12. Are there any other closing costs?
A: You are required to pay the following fees as a seller whether you sell by owner or use a real estate company:
1. Title insurance.
2. State and county transfer tax.
3. Any other closing cost are negotiable between seller and buyer.

Q 13. Do we have to include a home warranty?
A: Providing a home warranty is totally up to the seller or can be negotiated between seller and buyer.

Q 14. How will agent, brokers and realtors contact me when they want to view my home?
A:
We can set showing appointments either by having the agent call you direct or you can use our showing appointment service.

Q 15. What about our dog, cat or other pets during showings?
A: You should make arrangements to have your pets secured to avoid any problems.

Q 16. Who does the negotiating when we receive an offer?
A: It is the sellerís choice if they want to negotiate their own sale or you can have Flat Rate Broker negotiate the sale.

Q 17. Who will do the paper work, arrange for title insurance and coordinate transaction?
A: The home seller can coordinate the closing or you can use our transaction coordinator.

Q 18. Will we get feedback when an agent, realtor, or broker shows our home?
A: You will receive feedback by email if you use our listing book program.

Q 19. How long have you been in the real estate business?
A: Frank Pace, owner and broker, has been in the real estate business for over 14 years as a top producer with
Remax and Century 21, with over 20 top producer plaques and over 300 home sales.

Q 20. What is the Multiple Listing Service (MLS)?
A: MLS is the abbreviation for The Multiple Listing Service

Most licensed real estate companies subscribe to the MLS so they can post their listing to all the other real estate companies in the area so that any of the real estate companies in the area can sell the listed home for a commission.

Q 21. How important is having our home listed on the Multiple listing Service (MLS)?
A: Not having your home on the MLS is like finding a needle in a hay stack for potential buyers.

MLS is the Most Powerful Tool for Selling Homes.

Agents that are working with buyers check the MLS many times a day looking for homes in a particular area, price range, and amenities. The MLS sorts the homes and shows only the homes that meet the buyerís criteria.

Q 22. Will I still be a for sale by owner if we use your service?
A: It is up to the home seller if they want to sell for sale by owner and or sell with flat rate brokers.

You can remain selling for sale by owner and still be listed on the Multiple Listing Service (MLS).

However, you will be obligated to pay a real estate commission to a real estate agent if they bring you a buyer.

Q 23. What if we do not like your service or want to try a different real estate company?
A: No problem. You can cancel at any time. However, we do not refund any of the listing fee you paid.

Please note: We are not in the business of taking peopleís money and not performing the service we advertise. If your home is not being shown by agents, there is some type of problem.

The main reason homes are not being shown:
Price is too high.
Something is wrong with the property.
Local economy is slow.

Q 24. What happens if we have a person who wants to write up an offer?

A: If the prospective buyer is not assisted by a real estate agent, you can either handle the offer yourself or you can have us handle the offer presentation, negotiations and drafting of documents (see offer presentation fees). Please let us know if you are contemplating an offer so we can note it on the MLS. There is a $50 fine from the MLS to you and us for not notifying them within 24 hours of a pending offer. They like to keep all listings accurate.

Q 25. Can we handle our sale transaction and choose the title company we desire?

A: Absolutely. We offer a closing transaction service. However, it is your choice if you want to go it alone or let us handle the transaction.

Q 26. What do we do if a showing appointment is scheduled and they do not show up?
A: We suggest that when a showing appointment is arranged, you get the cell phone and office phone number of the showing agent along with their name so that you can call him or her to question why they are late or why they did not show up.

Note: We have no control over agents showing up on time or not showing up at all.

It is your responsibility to call the showing agent with any questions you may have on showing appointments. Most agents will call you or reschedule if they are not going to show or are running late.

Q 27. What if someone knocks at our door and wants to see our home?

A: Please be careful of who you let in your home. We only keep track of agents that are members of the multiple listing service, which most agents are. MLS real estate agents are required to make appointments using our appointment service.

Q 28. What if our buyer backs out, cannot sell his current home, or cannot obtain financing?

A: We highly recommend you either follow up on their mortgage processing and title processing, or use our transaction service to be assured that you will be notified if any of the transaction processes are not going smoothly. If the buyer does not fulfill his part of the contract, you will need to consult an attorney for any legal advice. Real estate brokers are not allowed by state and federal law to give legal advice.


 

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