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NORTHERN STAR REALTY
FAQ'S (Frequently
Asked Questions)
$395 Flat Fee MLS
What is the MLS?
The MLS (Multiple Listing
Service) is a listing service for over 7,000 real
estate agents and brokers in the Syracuse,
Rochester, & Buffalo regions that allows them to
input their listings in a centralized database. The
regions were combined in Jan. 2010 for 3 times the
exposure! These listings are then shared with the
other agent/broker members no matter which brokerage
company they are with. Members can also search the
database for listings and show other member listings
with full cooperation. In other words, any company
can show and sell any other company's listings and
receive a commission. Studies have shown that almost
85% of home buyers bought a house that was listed in
the MLS.
Who is this Flat Fee MLS service designed for ?
Primarily for people who want to
save alot of money on commissions like "for sale by
owners", people with little equity who can not
afford to pay a full 6% commission, people with
really expensive houses where 6% would be way too
much money to pay, people who want to be in control
of the sale process, or just anyone who wants to
save approximately 50% vs. the traditional listing
(sellers who don't mind paying the selling
broker's commission but want to save the listing
commission).
What is the total cost for the Flat Fee MLS
Service?
The total cost is $395 payable up front and there
are no other hidden charges or other listing
commissions at all..... None! That alone saves you
almost the whole 3% listing commission minus the
$395, that's it. We offer a few optional extras but
none are required.
What about the selling
broker/agent's commission?
You have to decide how much commission to offer
the selling broker/agent if they sell it. It's
totally up to you..1%...2%...3%...2.25%...a
bonus???? Your decision and that's payable at
closing. Note: the more you offer the selling agent,
the more showings you will receive.
Can I sell by myself and not pay a commission ?
YES... Absolutely! If you sell on your own to a buyer who was not brought
there by a Realtor, there is no commission at all. None. Try doing that with a
typical listing...you can't. This is one of the main selling points here is that
you can continue to sell on your own and also have maximum exposure through the
MLS. It's the best of both worlds FSBO &
MLS.
Will all the local Realtors have access to my listing ?
Yes, all agents (over 7,0000) in Syracuse,
Rochester and Buffalo who are MLS members will have
access to your listing and that is almost all active
agents and brokerage companies.
What do I the homeowner have to
do with this service?
Keep doing what you are already
doing as a " for sale by owner" including
appointment setups, answering questions about the
house, doing your own open houses, marketing,
showing the house, follow up, etc. This is a limited
service agreement and you will need to do some of
the work. If an agent sells it, they will then do
the remainder of the duties. Northern Star Realty
will get you in the MLS and on 46+ major real estate
websites including realtor.com for all the exposure
you need to sell. You may sell it on your own and
pay no commission or a realtor may sell it for the
commission you decided to offer.
What if I have a expensive house,
is it still $395 ?
Yes all houses are $395 to get in
the MLS regardless of the price. The more expensive
the house, the more you save.
When I get a written offer am I on my own ?
No, unlike some services we will
look at your offer, give you our opinion and answer
any questions. We do not negotiate for you however
with this service. We strongly recommend an
attorneys approval with any accepted offer.
How do I know if I am getting all the calls
from the MLS and/or signs?
Your telephone number is on the
yard sign so you get any calls direct. The MLS logo
is also on the sign so Realtors will know you are
cooperating. If our office receives any calls or
emails through the MLS, we will forward them
directly to you. TEST US! You can trust us. Remember
the MLS is designed for Realtors, so when you are in
the MLS there's a pretty good chance one of 7,000+
agents in our system may sell the house. Any leads
that come in on the house are yours!
What if I decide I want a full service broker instead of Flat
Fee MLS after awhile?
It's no problem, you can cancel
your listing at any time and for any reason. We will
even give you your money back when your house sells
and closes if you let us refer you to a full service
broker (Basically we would be receiving a referral
fee and would reimburse you from that if the house
sells).
Are you a licensed NY Real Estate Broker and a member of the
local real estate board ?
Yes, Bob Piazza the broker of
Northern Star Realty is a licensed broker in NY and
a member of the Greater Rochester Association of
Realtors. Bob Piazza has 28 years experience in the
real estate business and knows the local market.
Northern Star Realty is a local business in Western
NY and not an out of state broker who would refer to
a local broker anyway.
How much money can I save ?
Well....do the math....On a
typical 150,000 house at 6% commission the total
commission would be $9,000 if you used a full
service broker.
If you used Northern Star Realty's Flat Fee MLS
service on the same 150,000 house, it would be $395
+ $4500 (assuming you offered 3% selling commission)
for a total of $4,895 total...for a savings of
$4,105.
If you had a more expensive house, you'd save
even more or you'd save almost the whole thing if
you sold it yourself which you still have the option
of doing. Also if you offered less than 3%
commission on the above example, you'd save even
more. The MLS is the same no matter who you list
with...the only questions are what services are
offered and how much do you want to pay to get it
there ?
Why should I list using Northern
Star Realty's Flat Fee MLS instead of another
internet company?
Well .....with us..... you know
who you are hiring. We are located in Hilton, NY and
Bob Piazza/broker has been a member of the local
real estate board for 29 years in good standing and
has sold multi million dollars of real estate in his
career. Most Flat Fee MLS companies are not local
and are out of state. Some may not even know where
many towns in upstate NY are located. They have no
idea of local trends, customs and pricing. Many
times when you pay online, you are dealing with a
clearing house who then finds a broker in your area
after you pay. You would not have a clue who will be
taking the listing under that scenario and what
experience level they will have. Most do not even
list the brokers name or address on their website
because they are not local. Northern Star Realty
offers listings for 1 year, most other companies are
6 months. We offer a special money back guarantee if
certain conditions are met, others do not and we
offer a "cancel anytime" policy. Even though our
program is a limited service agreement, we still
offer professional local broker support when you
receive offers or when needed. With the out of town
brokers, you are on your own and mistakes can be
costly in real estate. You can put our experience
and opinions to use! Many of the out of town brokers
will try to upsell you different packages or add ons,
we don't do that. We have one deluxe program. Our
testimonials are growing for a reason! Doing
business better & Locally.
What is the difference between
Northern Star Realty's $395 Flat Fee MLS and
America's Choice?
America's Choice is
a marketing group that will list your house on their
own personal marketing site. Properties do not
go on the Realtor MLS for $495. If you want your property to
go on the MLS with America's Choice, first you pay
the $495 then you must list
with their sister company called "2.5% Real
Estate Direct" and
be willing to pay them an additional 1% listing
commission where you still do much of the work. So to put it on the MLS with them, it
will cost you $495 PLUS 1% listing commission PLUS
the selling agents commission. Do
the math, it's no comparison plus we have more
experience (28 yrs) and awesome customer service.
Click here to see example.
I thought when I listed a
property with a Realtor I would still have to pay a
commission if I found my own buyer? In simple
terms, with a traditional listing called an
"exclusive right to sell" you would have to pay a
commission if either a broker sold it or if you
found your own buyer. This is the type of listing
full service brokers use.
The Northern Star Realty Flat Fee program uses an
"exclusive agency" listing where you would still owe
a broker a selling commission if he/she sold the
house but not if you found your own buyer. In
either case Northern Star Realty does not collect a
listing commission when the house sells other than
the $395 that you have already paid. With either
type of listing, both go into the same exact MLS for
maximum exposure.
Can I sign up online or does someone come to my house ?
The service is designed to be
used online so as to keep costs down. You can also
use the USPS.
I want to use the service, what do I do to get started ?
Just go to the "buy it now"
button at the bottom of the main
Flat Fee MLS
page and order using credit cards, Paypal, or
you can send a check. As soon as we receive your
payment we will send you a link where you download
the paperwork. Your listing is entered in the MLS
immediately upon receipt of the listing paperwork
and you will be sent a copy of your listing.
Questions?
585-747-8213
northernstarrealty@yahoo.com
NORTHERN STAR REALTY
" Western NY's
Most Experienced Discount Broker"
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