FREQUENTLY ASKED QUESTIONS
FULL REALTOR SERVICE:
What is the work of a Realtor when selling your property?
- Help you determining a fair value for your property
- Create an accurate and enticing listing in the MLS – (Multiple Listing Service) so other realtors know that you are selling your property.
- Show the property and make all the disclosures.
- Help you with accepting the offer and signing the purchase and sale contract.
- Help you during the closing (the actual physical transaction where the property and money exchange hands).
What is the work of a Realtor when helping you buy your property?
- Help you by searching the MLS for the properties that meet your criteria for price, size, location, etc…
- Make as many appointments as agreed on (by calling listing realtors or owners) to show you properties that meet your search criteria.
- Help you determine a good price for the offer you are going to make by analyzing the “comparables”, which are properties similar to the one you are interested in that have been recently sold in the neighborhood under consideration.
- Help you make an offer by preparing a contract with the amount and terms of your offer and presenting it to seller’s realtor, who will then present to the seller for acceptance or counter offer.
What do Realtors usually charge?
Usually the total cost will be around 6% of the final selling price, the seller’s realtor will usually charge 3% to list the property, and the seller will offer another 3% to the realtor that brings the buyer. Some realtors charge less, 2.5% or 2% to list the property, and it is entirely up to seller how much will be offered to the realtor that brings a buyer, usually 3%. For example, for our full service we charge 3%, and even though it is recommended that you offer at least another 2.5% to 3% to the realtor who is bringing the buyer, this figure is entirely up to you.
DISCOUNT SERVICES WHEN SELLING YOUR PROPERTY:
This is more like “a la carte” where you only pay for what you use. Nowadays, with the advent of the Internet, more and more people are choosing to do all or some of the legwork themselves, which is a really good idea to save a lot of money if you have the time, this is the whole idea of our services, to enable you to do save by doing some of the work yourself.
What is the work of a discount broker listing your property?
It is to create a listing for you in the MLS to let other brokers know you are selling your property. They can contact you to bring their clients to see it. In this case you will fill out a form with the information and the realtor will prepare the listing for you. You need to provide us with 1 picture at least to be able to complete the MLS listing and you will pay a flat fee for this service, the rest of the work you will do yourself.
What is your (seller) part of the work?
You may choose to do all, or some of the work yourself, depending on the product you choose in our service page. Here are some of the things you need to do:
- You will need to determine a fair price for your property.
- Take calls from realtors and make appointments to show your property.
- Show the property
- Analyze and accept offers
- Show up for the closing.
- Use a Real Estate Attorney (highly recommended)
GENERAL QUESTIONS
What is the work of the Realtor who is bringing the client?
Answer:
The Realtor should first pre-qualify the Buyer for the possible loan amount and works with him or her in the process of finding a property matching their needs. The Buyer’s Agent will search and find a property that fits these needs using the MLS system. The Agent then contacts the Seller and makes an appointment to show the property to the Buyer. If Client shows interest and decides to make an offer, Buyer’s Agent will prepare and place an offer with the Seller. When price and terms are agreed on and the contract is signed by all parties, the contract will be a binding. The Buyer and Seller will then give instructions to their attorney or title company to prepare the Closing Documents.
What is the MLS?
Answer:
MLS or Multiple Listing Service is a form of Advertising used by and for Real Estate Companies to present the properties on the market. Realtors can query properties for buyers to suit their needs and qualifications. The system is also used to competitively price a properties by comparing to properties with similar characteristics in certain areas. The system is approved by the Board of Realtors and Association of Realtors in the region.
Is the MLS where you will place my listing the same as the MLS where all the other realtors use?
Answer:
Yes, the MLS is the same for all real estate companies registered in the Monroe, Miami-Dade, Broward, and Palm Beach Counties.
What is the difference between listing agent and buyer’s agent?
Answer:
The Listing Agent is a professional Realtor hired by a Seller and representing the Owner. Usually they become a Transaction Broker that will treat all parties with Honesty and Fairness. They will use all the necessary tools on the Real Estate sites to expose the property to other Realtors in the Market.
The Buyer’s Agent is a professional Realtor that will treat all parties with honesty and fairness in a Real Estate transaction using all the necessary tools to find a property on the Real Estate sites.
Are there any hidden fees?
Answer:
No, the fees you see on our web site is what you pay.
What should be the commission offered to the buyer’s agent who brings the final buyer? Do I have to pay this commission?
Answer:
The Seller normally offers 3 % to the Buyer’s Agent and sometimes a special bonus is offered, but the only one who makes a decision on the fees to be paid is you, the seller.
How long does it usually take to sell a property?
Answer:
It varies widely, depends on how well the property is priced in relation to the market
Can I cancel my listing at any time?
Answer:
Yes, you can cancel the Listing Agreement at any time.
If I sell my home “by owner” do I still have to pay a commission?
Answer:
No, when the buyer comes directly to you without the help of a realtor you sold it by yourself (by owner) and therefore, do not have to pay commission.
Is the listing realtor involved with the sales contract?
Answer:
Depending on your needs, one of our Realtors may or may not be involved with the sales contract. If you do not choose to use a realtor to assist with the sale of your home, you are responsible for developing your sales contract and making arrangements directly with the Buyer or the Buyer’s Agent. A Real Estate attorney is highly recommended.
Are you going to be involved in price and terms negotiations?
Answer:
Under our established packages, we only market your home to other companies and buyers. We are not involved with negotiations unless you choose to use our full Realty services and experience in selling your home. We will gladly represent the sale of your home as your Realtor. If you wish to do so, just contact us and we can set an appointment to meet with you and discuss our services with you.
What types of payments does Xpress Realty LLC accept?
Answer:
Visa, MasterCard, Discover, American Express or PayPal.