Flat Fee Services, How You Save & Why It Works?

What is the difference between HomeAvenue Flat Fee Realtors & Traditional Realtors?

HomeAvenue Realtors have years of experience in helping both buyers and sellers. Just as commission-based Realtors, our agent’s are licensed and members of the National Association of Realtors. Due to the demand for our flat fee model, our Realtors average many more sales than traditional agents which translates into more experience and expertise.

What is the difference between a "Listing Agent" and "Selling Agent"?

Listing Agents represent or facilitate for a seller and are licensed to list properties for sale on the Multiple Listing Service (MLS). Selling Agents, also known as Buyers Agents, represent homebuyers. Some companies, like HomeAvenue, offer cash back or other incentives to buyers.

What is MLS?

The Multiple Listing Service (MLS) is a computerized network that is accessible only to licensed Realtors who list and sell property. HomeAvenue customers have the option of listing their home on the MLS for a low monthly or one-time fee vs. traditional real estate companies who charge a commission based on sale price to list on the MLS.

Do I need to come to the HomeAvenue office to list my home?

You are welcome to stop by our storefront location, but most customers prefer to order our services online. Once you select one of our packages and place your order you will receive an email with instructions on completing the sign up forms. We will list your property on MLS within 48 business hours. If you choose our Full Service Realtor option, a Home Avenue agent will visit your home and take care of the listing paperwork on your behalf.

How long does it take for the house to be put on the market from the date the package is purchased?

FSBO:

We have a 24-48 hour turn around period. Once you return your listing paperwork we will review everything and if it is all completed we will activate your listing on MLS the next business day.

Full Service:

Dependent on agent 

What is Broker Reciprocity?

Broker reciprocity is a system by which real estate brokers agree to share their listings with each other. All participating brokers may publish each others data on their respective websites without discrimination of company or price. If you are a HomeAvenue customer and have listed your home on the MLS, your photos and listing data will be displayed on all cooperating broker websites. This provides a powerful and effective way for you to expose your home to many potential buyers.

Will I pay a commission if I'm listed on MLS?

It depends. If a Realtor brings you a buyer who eventually purchases your home, you’re obligated to pay a predetermined commission to the Realtor. However, if a buyer purchases your home directly, without Realtor representation, you owe no commission.

What is a truth-in-housing, or inspection, report?

Truth-in-housing, or Code Compliance, is a report showing the results of a city-required inspection to determine if your home meets current building codes. The inspection report details any serious structural or mechanical problems and some cities may require that you repair them before you place your home on the market. You will have to contact your city directly to see if you are required to have an inspection completed before listing your property.

Do agents really show and sell For Sale By Owner homes?

Yes. Real estate agents have a fiduciary responsibility to show ALL homes listed on MLS to their client. Furthermore, most buyer’s find homes listed on public websites and notify their agent when they want to view a property.

Do I need a well or private septic test?

If your property has a well or private septic system, most mortgage companies and some buyers will require a professional to perform a test prior to closing. Contact an inspector for costs and details.

What do I do with an unused well?

Most states require that an unused well be capped by a professional. Proof that this procedure has been completed must be filed with the state or county and recorded with the deed. Contact a professional for a quote.

Can I personally list my property on the MLS without a REALTOR®?

No. Only a licensed REALTOR® who is a member of NAR (National Association of Realtors) and the local MLS board can list on the MLS. There is no other way.

Can I list my rental property on the MLS?

Yes. We can list your rental property on the MLS. Please contact our office for details.

Accepting an Offer

(If you need assistance with an offer please see Purchase Agreement Review and Facilitation Service details)
What happens if I get multiple offers?
  1. Treat all parties fairly.
  2. Immediately disclose to all parties that there are multiple offers, but do not disclose the terms of each offer.
  3. Choose the best offer in terms of price, financing, closing date, down payment, etc. 
  4. Notify the other parties of your decision to select another offer, and tell them you will contact them later if the initial offer falls through.
  5. Negotiate the offer. If you and the buyer cannot agree, move on to the next offer.

NOTE: Many buyers require that the seller respond within a certain time period (typically 24 to 48 hours). If you receive an offer, don’t intentionally delay your response because you think you may receive other offers.

Do I need to get a pre-approval letter?

Yes. Make sure to get a pre-approval letter either from the buyer or their real estate agent (if you’ve agreed to work with one), which shows that the buyer has been qualified for a certain loan amount by a lending institution.

What is the difference between pre-approval and pre-qualification?

Pre-approval means that the buyers have been officially approved for a certain loan amount by a lending institution. Pre-qualifiation is an initial indication of the buyer’s likelihood of being granted a loan.

Can I ask a buyer if they are approved for a mortgage?

Yes. Before you agree to show your home to a buyer you should know if they are in a position to purchase your home. Requiring a pre-approval letter lets you know whether the buyer is qualified to purchase your home and it will make the process much simpler. The buyer should present a pre-approval letter on the letterhead of a mortgage lender and signed by a loan officer. Many lenders can provide these letters to a buyer within a day after the buyer completed the application and submits required paperwork.

What is the difference between a "Listing Agent" and "Selling Agent"?

Listing Agents represent or facilitate for a seller and are licensed to list properties for sale on the Multiple Listing Service (MLS). Selling Agents, also known as Buyers Agents, represent home buyers. Some companies, like HomeAvenue, offer cash back or other incentives to buyers.

What is the lead-based-paint-disclosure addendum?

If your home was built before 1978, you are required by law to provide buyers with a disclosure and with information about lead-based paints. Even if you have no knowledge of lead-based paint in your home, you’re required to submit the disclosure to the buyer.

What is earnest money and how much should I require?

Earnest money is a deposit made by the purchaser to express his or her desire and commitment to the seller. There is no required amount, but between 1% and 2% of the sale price is typical. It’s a good idea to have this money deposited into a trust account.

What are closing costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. Closing costs are separate from the fee or commission that you may pay a Realtor.

What is a contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or certain conditions must be met before the contract is valid.

If my home sale does not close successfully, would I have to pay the buyer agent commission?

No. The commission is only paid if the buyer actually purchases the property and the closing is successful. If your buyer is unable to complete the transaction, you do not owe the buyer’s agent a commission.

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