Sunday, July 06, 2008

Frequently Asked Questions

1. What is the difference between a traditional real estate company and Total Choice Realty?  The basic differences between a traditional real estate company and Total Choice Realty is what we charge for the same MLS Listing Service.  We charge a Flat Listing Fee instead of a % of the sale to LIST your property.
   
   The other major difference is you retain your 'by owner' status and reserve the rights to show, sell and advertise your property yourself.  If you sell your property to a buyer not working with an agent you pay
   NO COMMISSION!   You now have total control in the sale of your home, which is lost when you list with a traditional realtor.
   
   
2. Who handles the negotiation with the flat fee service?  If you choose to represent yourself for the flat fee; you will negotiate the offer directly with the buyer or buyer's agent.  As part of our listing service as your Real Estate Consultant, we gladly review all offers with you prior to acceptance; giving you peace of mind that you are not alone in the sale of your home.
   
   If you choose to hire Total Choice Realty to represent your interest in the sale of your property, we will: negotiate the offer, write the contract, calculate the Seller's net sheet, review the home inspection, schedule the closing, submit documents to the closing attorney and review the HUD-1 for a smooth closing for an additional 1% commission of the sales price at closing.  Whether you find the buyer yourself or if there is a buyer's agent involved in the transaction. 
   
   
3. Can we sell our home ourselves?  Yes! Unlike traditional real estate you retain your 'by owner' status.  You reserve the right to show, sell and advertise their property yourself.  If you sell your property to a buyer not working with an agent you pay NO COMMISSION! 
    
4. Why will agents show my property? Buyer's agents search the MLS  exclusively to locate properties that match their buyer’s criteria.  When an agent matches their buyer’s criteria to your property, they will see that there is a commission payable for the sale of your property. This commission will be the motivation for the real estate agent to direct their buyers to your property.
    
5. Are there any hidden costs?  There are no hidden costs.  You pay us the flat listing fee at the time of listing.  At closing, you pay the realtor who procured a buyer the percentage you specified in the listing contract.  If you sell your property yourself, without the help of a realtor, you do not owe any commission.  We collect the FMLS Service Fee of 0.12% (0.0012) of the sales price at closing.
   
   
6. Do we have access the Realtors MLS (GAMLS and FMLS)?  No, only brokers and agents that are members of the GAMLS and/or FMLS have access to the Realtors MLS.  The general public only has access to the public MLS access sites such as Realtor.com, AtlantaMLS.com and Homes.com
   
   
7. How do we make changes to our MLS listing? You may make changes to your MLS listing at any time. Simply e-mail us; we will make the changes for you. 
    
8. Can we terminate our MLS listing early? Yes, you will need to sign a status change form and pay a $25.00 withdrawal fee for each MLS system your home is listed in.
    
9. Can we place our own sign on the property? Yes, however your listing is listed with Total Choice Realty, agents will be looking for our logo to show your property.  Agents typically will not show properties that have the traditional ‘For Sale By Owner’ sign - the choice is up to you.
   
   
10. How long does it take for our MLS listing to appear on the Realtor's MLS and Realtor.com?  Once we receive the MLS paperwork from you we will upload the listing into the MLS the same day, provided we receive the paperwork by 2PM (M-F), if the paperwork comes in after the 2PM cutoff we will enter your listing in the system the next business day.
    
    Agents will have access to your property information immediately.  Realtor.com and all the other public access web sites feed directly off the MLS your listing will appear on these public MLS access sites within 24-72 hrs.