|
 |
 |
|
FAQ's |
|
Why Don't You Allow Homes to be Sold FSBO?
This was a decision that was made after long and hard
consideration.
When we were allowing our clients to sell there homes FSBO,
we found that
it was doing them more harm than good. The main problem is
that even though it is illegal for a realtor to boycott a
listing, we discovered that it was still happening. Many
home owners were keeping FSBO signs on their property,
resulting in realtors not realizing it was for sale through
the MLS.
Since less than 2% of all homes are sold FSBO we have
determined that this has become an easy decision. Why take
the chance of loosing the one buyer that may be ready to buy
your home.
What Happens When I Have a Contract
or My Home Sells?
Royal Realty will be faxed the
contract. We will notify you and the negotiations will
begin. When a contract has been accepted we require a fully
accepted copy. The MLS Rules require that a
listing be changed when the contingency in a contract is
satisfied. A contingent contract is the case in 99.99% of real
estate contracts. Typical contingencies are obtaining a
mortgage, attorney's review and approval of the contract,
the sale of the buyer's home, a property inspection, a
pre-closing inspection, or any other condition that can
prevent
the buyer from proceeding to closing. The MLS requires that
any event such as those listed above be reported within 72
hours, or a fine of $100.00 will be charged. The MLS Rules
apply to everyone: broker, sales agent, realtor, and home
seller. Eliminating any problems is very easy: simply
e-mail or fax any updates, and we will take care of it for
you.
If I Use Your Service Will I Have to
Pay a Commission?
In the "Flat Fee MLS Listing Agreement" that you will send
or fax to us, is an area for you to specify the amount of
commission you are willing to pay to a broker that brings
you a buyer. This is usually 2% to 3 % of the selling price
and not paid until closing.
Where Will My Property Be Listed?
You will be listed in the Multiple Listing Service of
Northern Illinois (MLSNI), which has over 40,000 Realtors.
Your home will also be listed in the MAP Multiple Listing
Service (MAP), which concentrates on the northern suburbs. You will also be in ChicagoTribune.com,
DailyHerald.com, Real-Net .com, Homes.com, Yahoo.com,
"Showcased" in Realtor.com,
and many more sites.
Click on Realtor.com to see how your exposure will be
improved. Additionally you can upgrade your
Realtor.com, MAP, Homes.com and
Yahoo.com listing which will
allow you to increase your description and amount of photos
displayed.
Do You Offer Any Kind of Guarantee?
Of course we do. It is the same
that is offered throughout the industry: If you decide to list your
home with a full service real estate office, as long as we
handle the referral to an office of your choice or one we
find for you, then after closing we will have a refund issued
to you for the amount of the basic price you paid us. The big difference is that with Royal Realty this
shouldn't be of any concern since unlike other companies you
can stay listed until your home sells, and make any additions
or changes to your listing for no additional charge.
What Does Your Sign Look Like?
Will You Put My Home on Your Web
Site?
We feel this is nothing more than a marketing tool and a
waste of time. Why would anyone come to our Web Site looking
to buy a house? You are here because you want to sell not buy.
It is for this reason that we concentrate on getting your home
sold the right way, which is getting you listed in the
multiple listing service and nationally in sites like
Homes.com and Realtor.com. In
fact you may come across companies that will offer you a "flat
fee listing" and they don't do anything more than put your
home on their web page. This is a complete waste of time and
money as it provides very limited, if any exposure.
Why
Don't You Recommend an "Open House"?
Your chances of selling your
home through an "Open House" are slim, and we feel
it is more of an inconvenience than a selling possibility.
Realtors have "Open Houses" to try and sell your house, but
that is seldom the case. What they are really good for is for
realtors to get buyers. When prospects come into your home and
say it is not exactly right, realtors try to pick them up as
buyers and switch them to a different
home.
What is
a Brokers Open House?
This is when you get listed in
the MLS on a predetermined day to have any real estate agent
view your home in the hopes they may have a buyer. We will be
happy to schedule these for you, however, in our opinion they
are a waste of your time. You have to sit home for several
hours waiting for what could be no one showing up. Many agents
if they have a buyer looking for a particular kind of home
will call you to ask if they can preview your home anyway, so
don't waste your time with a Brokers Open. Many agents go to
Brokers Open Houses for the express purpose of listing other
homes in your area.
What Do I Do When I an Offer is
Accepted?
Once you have accepted and signed the contract we
will need a copy of the contract and disclosures faxed to us to change your status in the MLS.
What If I Move and Can't Show My
Home?
If you want we can list your home as a full-service broker.
Royal Realty can list your home
or we can refer you to another full-service broker. By choosing
either of these options the fee that you paid to us will be
refunded to you after closing.
Won't I Get More Money for My Home
If I Sell it Myself?
This couldn't be further from the truth. Buyers know that
when a home owner is attempting to sell their home without a
real estate firm, they are trying to save the commission. So a
buyer will always make an offer with this in mind and offer
you a lower purchase price. In order to get the most for your
home, chances are this will be when a Realtor brings you
an offer from one of their clients. This is why it is so
important to be listed in the MLS.
How Long Will My Listing Remain
Active?
Your listing will remain active up to one year or until it
sells.
Can I Cancel My Listing?
You may cancel your listing at any time, and there is no
cancellation fee. Even if you decide to take your home off the
market for a period of time, we will re-list your home for no
additional charge, when you are ready.
How Long Will It Take For My Listing
To Appear In The Multiple Listing Service?
Your listing must be entered into the MLS within 72 hours,
we usually have it entered within 24 hours. It takes up to one
week to appear in Realtor.com, etc. because they get the
information from the MLSNI, not from us.
How Long Does It Take For The Home
Picture To Show On The Listing?
Your picture should appear on the listing within one week.
This depends upon the location of your home. If you are in
outlying areas, it could take longer. If you have a picture of
the front of your home that you like we will be happy to use
it. It must be in "jpg," format and e-mailed to us at
RoyalRealty@comcast.net. This will get your picture on
your listing faster. Please let us know that you will be
sending us a picture when you order in the notes area.
Why Isn't The Homeowners Phone # and
Showing Instructions Listed at Realtor.com etc.?
Realtor.com and ChicagoTribune.com etc. are not multiple
listing services.
They get the information from the Multiple Listing Service and
list the home details only, along with the Real Estate
office that has taken the listing.
Daily Herald Article 11/7/04 by Edith Lank:
If home doesn’t sell, prices may be too high
Q. I am a real estate broker who
reads your column as much as possible. However, sometimes I
miss it. A friend of mine told me that you once wrote an
article about how and when it is time to reduce the price of
a home. He said that you had some type of “formula” to
utilize with sellers that makes sense, and works well when
attempting to achieve a price reduction. This is the task
that I least enjoy, and I find that sellers can be extremely
stubborn. If you have some advice that will enable me to
make it somewhat easier and more logical for everyone
involved, then I would be so thankful. B.H, via
e-mail
A. I don’t have any formula. But I certainly have said
many times that once the buying public has voted that your
house isn’t worth what you’re asking, there’s nothing to do
but find the problem and fix it. And if there isn’t any
other obvious defect, then your problem is price. It doesn’t
matter what you think, what your broker thinks, or even what
an appraiser thinks. In the end, only the buying public’s
opinion matters. Even when some other problem can’t be
remedied, a lower price will cure it. Anything will sell if
the price is right.
Q. Should I list in the winter?
A. * In good winter
weather people are still shopping for homes and those
looking are more serious buyers.
* Fewer homes are listed in the wintertime so
there is less competition for
your home.
* Many corporate transfers happen at the
beginning of the calendar year
and your home will be
seen to this niche.
* While your home is decorated for the holidays its
festive look may entice
someone to make an offer.
* You will be ahead of the spring influx of listings.
Q. Can you give me some idea of
what my closing cost will be?
A. For sellers Closing Costs:
Click Here
For buyers Closing Costs:
Click Here
|
|
|
|
Copyright 2003 - 2007 - Royal Realty, Inc.
|
|
