1Listing: Fixed Fee MLS Listing FAQs

Fixed Fee MLS Listing FAQs

What is the MLS?
Approximately 80 percent of prospective buyers begin their home search on the Internet, usually at one of the large secondary site like www.REALTOR.com or www.Homes.com , or a broker site like www.NCaHome.com. Unless your home is listed for sale with a member of the local MLS (Multiple Listing Service) with access to this site, your property may not be exposed to many of those prospective buyers.

The REALTOR® Muttiple Listing Service (MLS) is the primary database used by Realtors® to market and sell property. The MLS is an exclusive database of all of the properties listed for sale in the metropolitan or regional area of coverage. This database is generally owned and used exclusively by REALTORS® and provides them with information about all of the available homes for sale.

REALTORS® use this system to cooperate on the sale of each other's listed properties and share in the compensation for selling the homes. Before now, most real estate brokerage firms required home sellers to enter into lengthy exclusive listing agreements with a hefty commission payable in any event of sale or transfer in order for their home to be placed in the MLS system.

Q. How can I list my property on the MLS?
Through the 1Listing Program, you can list your property on the MLS for $299.00 fixed fee. In addition, your listing will appear on www.Realtor.com, www.Homes.com, and www.NCaHome.com.

The MLS is statistically, by far, the best way to sell your home. The MLS accounts for over 75%-85% of home sales nationwide and is the most effective form of adverising available (about 10 times more effective than newspaper advertising, open house, or any other method of traditional marketing). In fact, a listing in the MLS will probably sell your home even if you don't practice any other form of marketing. Since most buyers work with Realtors® and Realtors® utilize the MLS almost exclusively when choosing properties to show, a listing in the MLS dramatically increases your chances of selling your home for the highest possible price in the least amount of time.

Q. What do I need to have my home listed on REALTOR.com and other secondary sites?
Secondary sites like www.Realtor.com, www.Homes.com, and local broker sites like www.NCaHome.com are an important search tool for buyers. Realtor.com, for example, has now become one of the most visited real estate sites in the world. A listing on these sites wider exposure for your property, with access to millions of consumers all over the country.

Q. Will a buyer's agent show my home if it's not listed in the MLS?
It's not likely. Realtors® have lots of homes to show their buyers that are listed in the MLS. The advantage of MLS listings for Realtors® is that they are guaranteed to be paid if they sell the home.

Q. Is For Sale By Owner (FSBO) for me?
A recent Realty ViewPoint® survey of hundreds homeowners across the country showed that FSBOs make more money on their home sales than sellers who use real estate agents AND sell their homes three weeks sooner! Nearly 50% of homeowners try to sell their home on their own at one time or another, however According to studies by the National Association of Realtors (NAR), only 14-16% of For Sale By Owners (FSBOs) actually end up selling. The rest end up listing with an agent or taking their home off the market.

So what is stopping everyone from selling on their own? Answers: (1) EXPOSURE and (2) "KNOW HOW".

EXPOSURE: Without access to the MLS, FSBOs are at a distinct disadvantage. With just one home to sell, it's simply impossible to afford to effectively advertise and expose your lone product to enough of the public to create a sale for the highest possible price. Realtors®, by contrast, have 1,000's of homes to sell. The vast majority of buyers use REALTORs® to help them find a home because they know Realtors® know where all the homes for sale are and the buyers agent's fee is generally paid by the seller. So if you want the greatest exposure for your home to these homebuyers, advertising through the Realtors® MLS is, by far, the best place.

KNOW HOW: Most home sellers think that the process is just too complicated and worry that they'll make costly mistakes or omissions if they try to sell without an agent. Through the 1Listing Program, sellers can retain the services of NCaHome to act as their Listing Broker --- full service representation from contract to close of escrow for only $3699.00 fixed fee.

Q. When I list through 1Listing, will I have to pay any commission when my house sells?
You will pay the cooperating (buyer's) broker a commission (depending on what you offer in the MLS listing) if that buyer's broker brings you a ready, willing and able buyer who makes a offer satisfactory to your terms and price. That buyer's broker will expect to be paid for his or her effort. While the amount is negotiable, typically a buyer's broker gets 2.5-3.0% commission. This amount is specified by you up front at the time you list with 1Listing.

Q. What if I need help with the contract or closing?
At any time you may upgrade to retain NCaHome as your Listing Broker, and receive full service Listing Broker representation for $3699.00 fixed fee.

Q. How long is my MLS listing good for?
A. Your MLS listing agreement is for 90 days. Most listings, when priced correctly, sell before the expiration. You may cancel your listing at any time upon 10 days prior written notice. You may also extend your listing for an additional 90 days for free.

Q. If I sell my house to a buyer who isn't represented by a real estate broker, will I owe any buyer's broker commission?
No. If there is no buyer's broker involved, you don't pay any buyer's broker commission.

Q. How is the 1Listing Program different from other real estate firms?
NCaHome is a full-service brokerage for 1.5% (not 3.0%) commission. NCaHome created the 1Listing Program to provide homesellers with the tools they need to make selling on their own a viable alternative. 1Listing provides the most cost effective means of getting your home sold. Through the 1Listing Program, NCaHome offers the following services:
- Fixed Fee MLS Listing Entry Only for $299.00 fixed fee.
- Full Service Seller Representation for $3699.00 fixed fee.

Other real estate companies fall into some of the following categories:

Traditional Brokers usually charge 6.0 % (3.0% each side) to sell your home in the MLS.

National Franchise Discount Brokers pay overhead transaction and franchise fees to their franchise owner, and are generally unable to offer the same costs savings you realize with 1Listing. Moreover, they do not necessarily have any credentials, experience, and expertise in California residential real estate transactions.

Internet-Based Referral Website Operators may not even be licensed to sell real estate in California. Most of these websites operate referral arrangements for agents-- they'll "refer" you to an real estate agent to list your property in the MLS.

Q. Will buyer's brokers be reluctant to show my listing?
As long as your buyer's broker compensation is comparable to other firms (2.5-3.0%) , few real estate brokers would reject an opportunity to earn a commission. Your MLS listing will look just like every other listing in the MLS and will indicate how much compensation you're offering to real estate brokers who bring a buyer to your home.

Additionally, fixed fee for service real estate is an emerging trend and fast becoming a recognized and accepted alternative in the industry to traditional commissions. More importantly, it is against the REALTOR® Code of Ethics and Federal Anti-Trust laws for real estate brokers to conspire to avoid a particular firms listings based on the fee charged. In fact, with the advent of "buyer agency", agents would be in violation of Agency Laws and risk of loosing their license to sell real estate to not show their buyers all of the available properties that meet their criteria, regardless of which firm lists the properties in the MLS.

Q. Once listed, how can I view my MLS listing?
Go to either Realtor.com or the local MLSs corresponding public website to view a condensed version of your MLS listing. Unless you are a licensed Realtor® and a member of the MLS you cannot access the MLS to see your listing. This is an exclusive proprietary system reserved for the use of member Realtors® only. Upon request, we can fax or mail you one copy of your home's listing as it appears in the MLS.

Q. Must I Use a LockBox?
No. It is not necessary to use a lockbox. However, Realtors® may be reluctant to show properties without lockboxes. Most of the time, when showing property, Realtors® are on a short time schedule. A lockbox makes access to your home convenient for both you and the Realtor®. We strongly urge you to consider using a lockbox to make showings easier for everyone and to increase the number of showings of your home.

Q. Can I use my own photos for the MLS?
Yes. Submit them to 1Listing via email in jpeg or gif format.

Q. Can I make changes to my MLS listing?
Yes. Once we input your home information into the MLS, you will receive a copy of the MLS listing printout. If there are any mistakes, please let us know at once and the corrections will be made. After the initial input and review, you may make changes to your MLS listing by submitting them to 1Listing in writing via email or fax.

Q. Can the 1Listing Program handle buyer calls and showings for me?
Yes, you can arrange in advance with NCaHome to show your property to unrepresented buyers.

Q. Can the 1Listing Program represent me in contract negotiations?
Yes, if you retain NCaHome as your Listing Broker for $3699.00 fixed fee --- NCaHome will represent you full service, from contract to close of escrow.

Q. What are the qualifications, credentials and experience of NCAHome/1Listing?
NCaHome invites you to compare the qualifications, credentials and experience of its Broker, Joe DiPaola, with others in the industry.