The way most properties are put up for sale involves an initial “listing” of the property. “Listing” your property simply means that all of the pertinent details relating to that particular property, including the asking price, are placed in a large database known as the “Multiple Listing Service,” or “MLS.”   Each geographical region has its own MLS computerized database, and until recently, this information remained under the exclusive control of the large real-estate brokerages.  Only a licensed real estate broker could add data to the database (thereby creating a “listing”), or search the information contained in the MLS when seeking a suitable property for a potential buyer.

Criteria MLS NOW (Flat Fee Services) Full Service Realtor Listing in the MLS? Yes Yes - 6% commission Success Sales Rate 92% (within 4 wks.) 92% (within 4 wks.) Contract Prep/Help Yes Yes Virtual Tour (online) Yes Maybe Prof. Signs, Brochures, lock box Yes Yes Field Incoming Calls from buyers/agents Yes Yes Ads & Misc. Costs None Maybe Total Cost  (no sub-agent) $1,995 $21,000 Closing Costs/Pre Paids Same Same Loan pay-off Same Same Net Proceeds to You: (based on $350,000 sales price, $200,000 loan, -1% closing costs.) $146,505 $127,500

• In short, mlsNOW Realty saves you thousands by eliminating several “intermediaries,” or middlemen, who otherwise come between the seller and the buyer; and naturally each intermediary (the listing agent, or seller’s agent; and the buyer’s agent, or sub-agent) expect to receive a handsome commission for his efforts in the sales transaction.  These commissions add up to some serious money: typically 3% for the listing agent (or seller’s agent), and 3% for the buyer’s agent (or sub-agent).  And what many first-time sellers often fail to understand is that all of the commissions (generally reaching 6% or more of the sale price of the property) are subtracted directly from the seller’s net proceeds from the sale.

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• The truth is that, in today’s real estate market, your house will practically sell itself.  We’ve been in a “seller’s market” for quite some time now; so paying huge fees to have someone else sell your house – even when this requires practically no real effort – just doesn’t make sense any longer.  The key is in having your listing made available to the home-buying public, and the real estate industry as a whole.  This is the service that MLSNow provides for you.  One less middleman means higher net proceeds for you, the seller.  It’s your property!  Shouldn’t you retain the highest percentage of the sales price as possible?

 

• By using mlsNOW, gives you direct access to create and update your listing in the MLS database.  Likewise, you can indicate how high a commission you are willing to pay if a third-party real-estate agent (the sub-agent with access to your listing information) produces the buyer in the transaction.  Perhaps you feel a 1% or 2% commission is adequate, rather than the typical 3%.  Regardless of the level of commission that you choose, your listing information will still be seen by all of the region’s real-estate brokers and sales associates, as well as by individual homebuyers, who can now access the MLS system for free, over the Internet, on sites such as Realtor.com, or Homestore.com.