for sale by owner MLS flat fee listing service

That is simple. We don't advertise and don't use the mails. Sure a lot of people never hear of our service but for those who do it means saving hundreds if not thousands of dollars. We don't agree with corporate America that our customers should subsidize advertising costs.

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What Is Your Money-Back Guarantee?

Our Money-Back Guarantee takes effect if for any reason, such as you have moved out of town, you require a full-commission broker to do your showings. If circumstances arise such that you need to list your home with a full-commission brokerage firm the Guarantee comes into play. If we referred you to a full-commission broker who is an Affiliated FSBO Realtor™ and he or she sells your home then at the closing of your sale the commission earned by the Affiliated FSBO Realtor™ will be reduced by the listing fee you paid us and reimbursed to you. In effect your listing with us is totally risk-free. Many have asked why we can do this. It is because we know our program works. Our Affiliated FSBO Realtor™ network includes well-known real estate brokerage firms throughout the country. You may use one of them or if you wish simply pick one of your own choice and then let us make the referral for you. In either event the Guarantee comes into effect.

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Do I Have to Tell You When I Have A Contract or When I Have Sold My Home?

Yes and Yes. The reason is that the MLS Rules require both. And the MLS Rules also require that a listing be changed when the contingency in a contract is satisfied. A contingent contract is present in 99.99% of real estate contracts. Typical contingencies are the receipt of a mortgage, your attorney's review and approval of the contract, the sale of the buyer's home, a property inspection, a 48-hour pre-closing inspection, or any other condition that can allow the buyer to not proceed to closing. The MLS requires that all such events be reported immediately or else there is an automatic fine--AUTOMATIC--of $100 with further continuing penalties if the $100 is not paid. The MLS Rules apply to everyone, every broker, every sales agent, every realtor, every home seller...everyone. Compliance is simple: just call us! We'll do the rest. For your information typical MLS Rules are as follows. They may be different in your area:

" REPORTING CHANGES OF STATUS AND CONTINGENCIES: There shall be a fine of $100.00 for failure to report contract pending, contingencies and deletion of contingency flags, and change of status of a listing if transferred to a different listing within 72 hours. Computer failure shall not be an excuse for such failure. The 72 hour requirement shall include weekends and holidays."

" REPORTING PRICE CHANGES: There shall be a $100.00 fine for failure to report a price change within 72 hours. Computer failure shall not be an excuse for such failure. The 72-hour requirement shall include weekends and holidays."

Who Sets the Commission A Buyer's Broker Can Get?

That is you. You tell the brokers in our Property Profile what commission it is that they will receive when their client buys your home. You set it. If you want our advice it is there for the asking. But one thing is now clear under the law. There is no such thing as a standard fee. That would be price-fixing. You are thus free to set any commission you wish. The only requirement is that the set commission is always reduced by $200 in order to defray the listing agent's closing expenses. Thus, if you set the buyer's broker commission at 2% and in your case that would be equal to $8,400, the buyer's broker would receive $8,200 at closing. Such allowances are customary.

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How Do I Target Just Consumers, not Brokers?

If you put in our Property Profile a commission less than 2% it will be hard to find a broker who would be willing to show your property to his or her client. Brokers are human and if he or she can earn $10,000 versus $5,000 when the client buys a home guess which one the broker will recommend. This of course is not appropriate behavior and in fact it violates the law. A realtor stands in a fiduciary relationship with his or her client and must always put the client's interest ahead of his own. That means if he finds home that is perfect but the commission is less he is still obligated to show it. Reality, unfortunately, may be a different thing.

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How Do I Get My Listing On Your Homepage and Picture on Your Gallery?

That is easy. At the end of the Property Profile there are checkboxes to mark if you want one or more of these services. You can also have your own website linked to our homepage as a third service. The fee for these services is $100 per service. If a broker brings you the buyer, $100 is deducted from its commission for each service at closing and credited to you so that you receive the services for free. But since the amount involved is advanced by you, it is included in your payment.

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What Should I Do with My FSBO Yard Sign

To the brokerage world the term "fsbo" or "for sale by owner" means that nobody gets a commission, not the buyer's broker and not the listing broker. So if a broker sees that sign you can be sure he or she won't come back. Thus purely as a practical matter the continued use of your FSBO sign can only adversely affect your chances of sale. Also up until now the FSBO sign has really not done you alot of good, even if the traffic patterns in your neighborhood means many cars pass by your home. Otherwise you would not have visited our site. That is a second reason why an FSBO sign makes little further sense. So historically using an FSBO sign once listed was almost never done. The third reason is the most important: it can cost you THOUSANDS OF DOLLARS though you don't know it now and won't be told until it is too late! That is because many so-called "flat fee" brokers offer you a "free" yard sign. But that yard sign prominently displays THEIR COMPANY AND THEIR PHONE NUMBER. There is a good reason why they do this. If a passer-by calls them, they will bring that buyer to view your home. And if that person in fact buys your home, that "flat-fee broker" makes a killing--off of you! We are the only flat fee broker in the country that absolutely and totally refuses to play this game. We will never accept a fee from a buyer for one of our flat fee listings. Don't be fooled by the "free sign" trick: it is nothing but a gimmick, one that can cost you like it has many others, THOUSANDS OF DOLLARS. Buy yourself a "For Sale" sign at Ace or Home Depot for $5 or $10 and put your own phone number on it. The "free yard sign" will likely cost you alot more! Lastly and on a purely theoretical legal basis an FSBO sign is permitted even on listed properties. While the MLS regulations are unclear on this we have discussed the issue with senior MLS representatives who have told us that FSBO signs are permitted but that due to our concern the MLS regulations will be changed to make it clear! The key though is to remember: you are listed. You are no longer "for sale by owner." And that means you don't want to tell brokers that you are. But that is exactly what an FSBO sign means. Practically it should be avoided if at all possible.

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Should I Get A Lawyer To Help Me?

This is the easiest question you could ask. The purchase and sale of real estate is an extremely complicated transaction involving numerous laws, regulations and court decisions. While there are tens of thousands of lawyers only a small minority have the knowledge to adequately represent a buyer of real estate. And far fewer have the knowledge to represent a seller!! It is crucial that you have not only a lawyer but a lawyer who specializes in this field. Just as you would not go to a podiatrist for brain surgery you should not hire a lawyer who is not a specialist in the real estate industry. Did you know that many lawyers study to become real estate brokers just to gain the knowledge and experience that brokers have? The point is no matter how you find your lawyer make sure he or she is highly qualified. The stories are famous where unqualified lawyers have been the cause of a failed closing. Don't let that happen to you. Many of our clients have asked members of our staff to be their lawyers. While we could do so we have made the decision not to on the basis that it might theoretically be construed to be a conflict of interest. But that does not mean that we cannot help. At the insistence of our clients we have established a carefully screened and monitored network of the most knowledgeable real estate attorneys to assist our clients. Our FSBO Lawyers™ will charge you fees which we have negotiated to be below market. We monitor our FSBO Lawyers™ very closely. And they know it!

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Who Will Negotiate My Contract?

That again is your lawyer--a knowledgeable one. There are many issues involved in negotiating a contract. Some are obvious, some are not. It is for the nuances that you need a lawyer. What is the difference between a credit for costs and a reduced purchase price? Are there any tax effects? What kind of contingencies are acceptable in an offer? What does the term "material" mean in the context of a home inspection? What is the legal effect of an attorney approval rider? Can the buyer's attorney ruin a deal by demanding a lower price? What happens to the earnest money deposit if a contract does not close? As a seller will I get any of it? What is the effect of the earnest money clause? Who holds the earnest money and why? Does the holder of the earnest money owe me any special duties? What is a quit claim deed? What is a warranty deed? How should prorations be handled? And what the heck is a proration? And what things are prorated? What is the effect of a homeowner's exemption? Every sentence in a real estate contract has legal significance. Most have been litigated numerous times in the courts. Every one must be analyzed in the negotiation process. There is only one reason why trial attorneys make so much money. It is because other lawyers have made mistakes in the planning process!!! A thoroughly thought out and negotiated contract will avoid that. GET A GOOD LAWYER. And if you don't have one call us for an FSBOLawyer™ well before closing. Don't do it yourself. And don't use your hairdresser's lawyer!!!!!!!