1. What is the MLS?
Multiple Listing Service (MLS) is database where all firms and agents enter all types of properties for sale. Only firms, agents and appraisers are allowed to be members. All members pay a fee a monthly fee to be a member. The MLS is accountable for almost all sales of real estate. Bottom line, all sellers must have their home on the MLS for major exposure.
2. What areas does North Carolina Homes Realty serve for the MLS Flat Fee?
Currently, North Carolina Homes Realty MLS Flat Fee plans are offered for the NC Piedmont Triad area which covers counties - Forsyth, Guilford, Randolph, Davidson, Davie, Yadkin, Surry, Stokes, Rockingham, Alamance and Caswell.
(** $399 Plan - May be extra fee for large homes and location)
3. How much does the seller pay North Carolina Homes Realty?
$399** ..... The fee is paid upfront and is non-refundable. See above chart for what is included.
(** $399 Plan - May be extra fee for large homes and location)
4. How much the seller pays the buyer's agent?
The Triad MLS rules and regulation require that a fee must be displayed in the MLS. The fee amount is totally up to the seller on how much they want to pay a buyer's agent only if the buyer's agent brings a buyer. This amount will be displayed on the MLS and only viewed by members of the MLS, it can be a percentage or a dollar amount. The compensation is only paid at closing when the property is sold. It is recommended to offer buyer's agent at least 2.5%.
5. What happens if a buyer contacts the seller directly?
If the buyer is not represented by an agent, then there is no obligation to pay any Firm or agent.
6. What is a showing service?
This is a third party service that serves as the middleman between the seller and showing agents. The third party service has the contact information and instructions of the seller. Agents will call the showing service when they want to show the home. After the home is shown, the showing agent will receive an email regarding feedback, the agent may or may not leave feedback. The seller will receive a showing service seller account so feedback can be viewed. Listingbook showing service is used by North Carolina Homes Realty.
7. Who will see the seller's property after entered into the MLS?
To be honest, anybody that has internet access will see your home because the MLS feeds so many other websites such as Realtor.com - Trulia.com - Zillow.com - AOL.com - Yahoo.com - RealtyTrac.com - FrontDoor.com - Listingbook.com (Triad MLS) - see chart above for more sites……… and of course every agent that is a member of the MLS will see it. Majority of national firms, local firms and local agents participate in the IDX (Internet Data Exchange) in which they will have MLS search capability on their webpage for users to search all available properties.
8. Will the seller's phone number be available on the MLS for public view?
The Triad MLS does NOT allow any phone number, website, email, etc to be displayed in the descripton, remarks, or directions for public view. Our seller's have the option to have their personal phone number or the Listingbook showing service phone number displayed in the MLS appointment field which only showing agents can see to make an appointment.
9. Does North Carolina Homes Realty provide signs?
A sign is included in the $399 plan. There is a space on the sign for you to write your phone number. Regarding the $399 plan, the FSBO seller may use their own sign in addition or instead of the listing firm sign.
10. Does North Carolina Homes Realty provide a lockbox?
A lockbox rental is included in the $399 plan. A lockbox is very convenient so a buyer's agent will have access when a showing is scheduled.
11. Who will take photos of the property?
North Carolina Homes Realty will take pictures which is included in the $399 Plan. The Triad MLS will allow upto 16 pictures. You can use your own pictures if you like for the $399 plan, it must be your own pictures, not copied from a previous website. They must be in .jpg format and at least 640 x 480.
12. How does the seller pay for the MLS flat fee?
The seller can pay either by check or by Paypal.com. When Paypal is used, seller can used a credit card or a bank account. No credit card or bank account information is sent to North Carolina Homes Realty, it stays secure with Paypal. You can also send check by mail.
13. How long will it take for the home to show up on the MLS?
Once North Carolina Homes Realty visits the home ($399 Plan), take measurements, make note of amenities, take pictures, make sure all applicable documents are signed by all owners, and fee is paid, then the property will be in the MLS within 48-72 hours. Once entered on MLS, the MLS will populate tons of other websites.
14. What if a buyer contacts North Carolina Homes Realty to inquire about the property or requests to see the home?
If an unrepresented buyer contacts North Carolina Homes Realty, that buyers contact information will be directed to the seller.
15. What happens if the property does not sell in 6 months?
After 6 months, seller has option to pay $55 for a one-time 6 month renewal if desired. The seller can cancel at anytime with no penalty.
16. Where does the seller acquire forms when an unrepresented buyer wants to make an offer?
North Carolina Homes Realty will provide to seller all applicable blank forms and contracts. If a buyer's agent presents an offer, then that agent will have the forms.
17. Does the seller actually list their property with North Carolina Homes Realty?
Yes, the seller will fill out and sign an "Exclusive Agency Limited Listing Agreement" in which entitles North Carolina Homes Realty to be the listing firm. Seller can sell the home to a buyer that is not represented by an agent.
18. Who are the owners of North Carolina Homes Realty?
Angela Lawrence and Brad Lawrence. They live in Clemmons, NC and been serving the NC Piedmont Triad area since 2001.
19. What happens when an offer is presented?
If an offer is presented from a buyer's agent, the seller will have to give a copy of the NC Property Disclosure and Lead-Based Paint Addendum to the buyer's agent so the buyer can sign. The seller will negotiate directly with the buyer's agent. If an offer is presented by an unrepresented buyer, North Carolina Homes Realty will provide all applicable blank forms and contracts upon request by seller. The seller can contact an attorney for legal advice if desired. North Carolina Homes Realty offers an optional fee of $300 to consult/review/give suggestions to the seller when offers are presented either by a buyer's agent or an unrepresented buyer.
20. What if the seller wants to make a change in price, description or change some photos?
No problem, just send an email with changes and/or photos.
21. Can North Carolina Homes Realty show the sellers property?
Yes, North Carolina Homes Realty can show the home only if the buyer is represented by North Carolina Homes Realty. Currently, North Carolina Homes Realty is not working with buyers. Buyers are directed to the seller.
22. Will real estate agents show the home?
In the past, buyers used to contact an agent, tell the agent what kind of home they desire and the agent would hand pick the homes that "they" wanted to show the buyer. Now, in today's world, the "buyer" is on the internet, the "buyer" can find the homes they want to see and the "buyer" will provide a list to their agent. Any good agent will show their buyer the homes that their buyer "wants" to see. So if a buyer wants to see your home, then "yes" their agent will show your home. If for any reason an agent does not want to show your home (such as the home is too far from their office, etc) then the buyer can and will contact you or another agent to view the home. A buyer's agent has a fidicary duty to represent their buyer and act in the buyer's best interest. If they do not do this, the buyer has a right to terminate the relationship with that agent. YOUR HOME WILL BE SHOWN BY OTHER AGENTS just as all of our listings are shown by many agents and many firms.
23. How does North Carolina Homes Realty "100% Money Back Risk Free Guarantee" work?
If the property does not sell or if seller elects to cancel agreement, North Carolina Homes Realty can refer the seller to another full service firm or seller can choose another full service firm of their choice. The other firm must agree to pay North Carolina Homes Realty a 25% referral fee (listing side only) only if and when the property is sold. Once North Carolina Homes Realty receives the referral fee from the other firm, your flat listing fee will be refunded to you. If seller selects a firm or agent that does not participate in the referral fee agreement to North Carolina Homes Realty, then the MLS Flat Listing Fee will not be refunded to seller.
24. What services are not covered under the MLS Flat Fee plans?
Under the MLS Flat Fee Plan, North Carolina Homes Realty is only the listing firm and does not represent the seller as a seller's agent. North Carolina Homes Realty will not represent seller in negotiations on all offers and terms, will not assist in determining list price, no representation during listing term, will not represent seller at closing, will not hold escrow money, will not inform on market conditions and competition, will not handle contracts, forms and addendums.
25. Are there any extra or hidden fees?
There are no hidden fees, but there are options available for an extra fee that would presented at time of signing, no secrets.
26. Does the seller have to pay anything if home does not sell?
No, nothing is due. See the 100% Money Back Risk Free Guarantee on how the seller can receive the MLS Flat Fee back.
27. Can the seller cancel the listing agreement?
The seller can cancel at anytime. Once the listing is entered into the MLS, no refunds will be given. Regarding the $399 Plan, if seller cancels order prior to MLS entry, a $200 cancellation fee will be deducted.
28. Does the seller have to notify North Carolina Homes Realty when the property goes under contract or sold?
Yes, the MLS requires that status changes be entered in the MLS within 1 day of the status change. The listing firm must follow all rules of the MLS. All firms and agents are subject to fines if rules are not followed. Fines will be passed on to the MLS Flat Fee seller if MLS rules are broken. A copy of all pending contracts and closing documents must be given to North Carolina Homes Realty on the day of that status change.