GA-agent.com | Frequently Asked Questions About Real Estate

Buying > Consumer Info > Frequently Asked Questions > Glossary > Selling

What is “fee for service” or “a la carte services?”
Most real estate professionals refer to their service as “full service.” This means that they do everything it takes to sell your home – place it in the MLS, advertise it in the local paper and home magazines, provide a flyer, do open houses, show your home to potential buyers, handle the negotiations when you receive an offer and handle everything through closing. “Fee for service” is where the full service package is separated into any number of component parts and combinations. In this arrangement, different services cost different fees, and these fees are usually not contingent upon an actual close of escrow. This arrangement is suited for today’s more “e-savvy” sellers and “For Sale With Owners” who want assistance with select parts of the process of selling their home, without having to pay traditional real estate’s higher full-cost fee.

What is “full service?”
Most real estate professionals refer to their service as “full service.” This means that the do everything it takes to you’re your home – place it in the MLS, advertise it in the local paper and home magazines, provider a flyer, do open houses, show your home to potential buyers, handle the negotiations when you receive an offer, and handle everything through closing.

The question really should be, “What is full cost service?” Sadly, some brokers (regardless of company) list homes and then just put them in the MLS and wait for a contract to come in with no service provided beyond that. Many times after these listings expire, we end up interviewing with these unhappy sellers. We explain carefully to them what we do and what we don’t do -- the most common response – “Yeah, so?– I was paying 6 to 7% and didn’t get that much! We offer you a menu of services that lets you choose as much or as little service as you desire! AND we back it up in writing by making the specifics of the service and the marketing we are obligated to provide part of the listing agreement!

What is MLS?
MLS® (Multiple Listing Service) is the most comprehensive computerized database of homes for sale with over 1.5 million listings nationwide. This database is used by Realtors to market and promote their own listings and to cooperate with other Realtors. Realtors, in turn, are compensated with part of the commission. A large portion of real estate transactions are a result of direct MLS exposure. By having your home in MLS, it will be exposed to thousands of local real estate agents who otherwise would not have known that your property was for sale and would not have shown it. This is the same MLS used by a traditional broker who would charge you a full cost listing commission.

Do I have to list my home in the MLS and thereby offer a coop commission?
No. That is totally up to you and often dependent upon your marketplace. If homes in your area are moving fast, then you will probably want to at least start without the MLS so you have an opportunity to sell your home yourself and save. However, if you are in an area taking 45 or more days to sell the average home, then you will probably want to list your home in the MLS to increase your exposure. As they say, time is money and exposure is critical.

What is REALTOR.com?
REALTOR.COM is a leading Internet site where buyers can search for homes. Technically, it is the official Internet site for the National Association of Realtors. REALTOR.com's 1.4 million home listings are provided by participating REALTOR Multiple Listing Services. This is one of the advantages of listing your home on the MLS - your home will then be copied to the REALTOR.com web site and will be accessible to individuals and Realtors via the Internet. This includes color pictures, tours and all pertinent information (price, location, square footage, contact information, etc.)

How do other Realtors show my home?
Other Realtors will schedule a showing using the instructions in the MLS. Nothing will be different for them.

How should I price my home?
We will provide you with a Comparative Market Analysis that will provide you with information regarding the price range of similar home sales in your area so that you can choose a price you feel is appropriate for your home.