What is the MLS?

MLS stands for Multiple Listing Service.  The MLS is a database of homes for sale in a specific area and is run by the local Board of Realtors.    Only Real Estate Brokers are eligible to become members of the MLS and enter their listings on the database.  The only way you can advertise your house on the MLS is by listing with a real estate company.  

What is the benefit of putting my home on the Multiple Listing Service (MLS)?

The MLS is a very important tool when trying to sell your house. It’s the traditional method agents use to find homes for their buyers or to advertise their listings to other agents.  The MLS links to realtor.com, which is a web-site that has all the listings on the MLS, but unlike the MLS, realtor.com is viewable to the public.  Realtor.com is a very popular and widely used web site for individuals looking to purchase a home.  House 2 Home has paid the extra fee to have enhanced listings on realtor.com.  The majority of real estate transactions are as a result of direct MLS/Realtor.com exposure.  Please note it takes 2-4 days for your home to download to realtor.com once it has been placed on the MLS.   

What is the difference between a seller’s agent and a buyer’s agent?

A seller’s agent lists the property, represents the seller and is legally obligated to put the seller’s interest above all others.  A buyer’s agent represents the purchaser in the transaction and puts the buyer’s interests above all others. What does it mean to co-op?Co-op (cooperative payment) means that you would be willing to pay a buyer’s agent a fee for bringing a buyer to you.  Typically, a buyer’s agent is paid 2.5% - 3.0% of the sales price.  It is necessary to list the commission amount you are willing to pay on the MLS when you list your home with the real estate agent.

If I do not want to “co-op” with a real estate agent, is the MLS still a good idea for me?

No.  A buyer’s agent expects compensation.  Without offering it, an agent will have no reason to bring a buyer to your home.

Do I have to pay an agent if I put my home on the local MLS but find the buyer myself?

NO!!  In this scenario, you would only pay House 2 Home Realty a flat fee to be placed on the MLS, link to realtor.com., and SI For Sale By Owner.com.  You can change this commission any time.  

Will agents boycott my listing? 

Agents want to find a home that meets their buyer’s needs as quickly as possible, as long as they get paid a competitive commission for bringing the buyer.  It is extremely rare that an agent would refuse to show a home that pays them a competitive commission and meets their buyer’s needs.  There may be a very small number of agents in some areas that violate the Code of Ethics and Federal law prohibiting a boycott, but it is extremely rare.  In general, the MLS listing does not tell them how much you are paying to list your home, only what you are offering to pay the agent who brings the buyers, so the agent won’t know how much you are saving.

Wouldn't I benefit by having an agency with 40 agents working to sell my property more than with House 2 Home? 

When an agent lists your property AND sells your property, she gains the most since she is being paid for both sides of the transaction.  You can only have one listing agent in one office.  The others agents in the office do not stand to gain any more if they sell a listing from his/her office that is listed by a co-worker or if she sells a listing from another agency.

What happens if I’m out of town, will my property still be shown?

If you receive a call from a buyer to see your house and you are out of town, contact House 2 Home and we will show your house.  House 2 Home will never let a potential buyer wait to see your property.

May a buyer contact me directly after a Real Estate Agent shows my home to them?

No.  That buyer is the Real Estate Agent’s prospect and therefore would be entitled to the selling commission.

Will House 2 Home ever be the selling agent for my house?

Yes.  There are some scenarios where House 2 Home will be the selling agent.  If you receive an inquiry from a buyer who has seen the listing on SI For Sale By Owner and you are out of town.  Contact House 2 Home and we will show your house.  If we sell your property, we are considered the selling agent.  If House 2 Home agents are working with a client they will always have the opportunity to be the selling agent of your property like other agents from other companies. 

If I sell my home by myself, will House 2 Home help with the paperwork?

Yes, House 2 Home will assist you with paper work if 1.)  another agent from another company sells your property or 2.)  if you sell your property as a for sale by owner and want assistance with the paperwork you have the option of performing this process on your own or you can hire an attorney.   House 2 Home will help you with all the necessary paperwork for a fee negotiated with you and your listing agent.

If my house does not sell in the contract time period, will I be charged an additional $899?

No.  When your contract expires and you choose to renew, we do not charge an additional $899.

How does the breakdown of a standard real estate commission work?

Listing Broker ABC Realty Selling Broker XYZ Realty Listing Agent Selling Agent If the listing broker or one of the listing broker’s agents list and sell the house the split is:3% to the broker and 3% to the agent. If the listing broker’s listing agent just lists the house but an agent working for a different company sells the house, the split is as follows 1.5 to listing broker 1.5% to listing agent, 1.5% to selling broker and 1.5% to selling agent.  

What can House 2 Home Realty do for me? 

Total payable to House 2 Home Realty at the time of the listing is $899.   When you pay in advance you will receive, pictures of your home, taken by Ho use 2 Home Realty;  your home will be advertised on Southern Illinois For Sale By Owner web site at no extra charge;  and your home will be in the monthly home guides.  House 2 Home realty will place the ad for you.  If you would like a visual tour, there is no extra charge.  We will cancel your contract at any time….also….we will not charge you another fee if you relist at the end of your contract.  We do take credit cards. What if I don’t want to pay until my house sells?We have other options available that will fit your individual needs. Commission Breakdown:

Based on $100,000 Purchase Price

1.  List house  pay $899 up front, sells as a For Sale by Owner, total commission paid $899.

2.  Seller sells house as a For Sale by Owner but does not pay $899 up front, seller pays 1% or no less than $2000 at time of closing for a total commission paid of $2000.

3.  List house and pay $899 up front.  Real estate agent sells house (House 2 Home or agent from another company) $100,000 X 3%= $3899 total commission paid.

4.  List house do not pay $899 up front, real estate agent from another company sells house.  Seller pays 6% on $100,000 sell for a total of $6000 commission paid with a split of 3% and 3%.