Here is a collection of frequently asked questions that I have put together regarding our Flat Fee Service. If you have any other questions, not listed here, feel free to call or send an e-mail.
By clicking on any of the questions below, you may view the answer.
Do you offer any rebates for buyers who do not sell a home using your flat fee listing service?
Yes we do. We will rebate back to you one percent of our commission towards your closing cost at a successful close of escrow. For example: ($200,000 home x 1% commission= $2000 rebate to you. We will negotiate the best terms/price and will ensure a seamless and stress free transaction while maximizing your purchasing power. Incentive applies only if listing brokerage offers 3% or higher commission to the buyer's broker on the property we are representing you on. Subject property cannot be a Short Sale listing in order to qualify. New homes do qualify as long as you are represented by our company on the 1st visit.
If I use your flat fee listing service to sell my home, are there any benefits to using your company in representing me on the purchase of my new home?
Yes absolutely! If we sell your home through our Flat Fee listing service and wish to have us represent you as your buyer's agent on the purchase of your new home, we will credit back to you 1% of our commission through escrow towards your closing costs. Incentive applies only if listing brokerage offers 3% or higher commission to the buyer's broker on the property we are representing you on. Subject property cannot be a Short Sale listing in order to qualify. New homes do qualify as long as you are represented by our company on the 1st visit. We will negotiate the best terms/price and will ensure a seamless and stress free transaction while maximizing your purchasing power.
Flat Fee Listing Service
Will Realtors show my home even though I chose a flat Fee Listing service instead of paying a high commission?
Absolutely! Since your home will appear on the MLS and you agreed to pay buyers’ agents a commission ranging from 2.5% to 3%, then your listing will be treated as all others on the MLS
With your Flat Fee Listing packages, I pay a flat fee up front on the "listing" side, but do I still have to pay a "selling agent?"
Yes. Any Realtor bringing a ready, willing & able buyer with a satisfactory contract will be due a small "Selling" commission of your choice, typical Buyer agent commission 2.5% to 3% of the selling price.
Is this the same Multiple Listing Service (MLS) to which all area Realtors belong?
Yes, this is the same service used by local Realtors known as Greater Las Vegas Association of Realtors.
Can I create flyers for my listing?
When you purchase one of our Flat Fee Listing packages, you will create your own login profile that will give you access to your own dashboard that will enable you to create flyers for your listing.
Can I place my own sign on the property?
We advice against it. Your listing will be listed with Executive Realty Services. Agents will be looking for our sign to show the property. Agents typically are uncomfortable to show properties that have the traditional ‘For Sale By Owner’ sign. The choice is up to you.
Do I have control over all listing information that goes on the MLS?
No. The MLS uses its own template. The template is very well designed and covers most every detail about your property. The information you give us can be changed at any time by submitting in writing the changes you want us to make via email. All changes will be updated on the MLS within 24 hours.
We do encourage that you send us your own description of your property since you know your home the best. This description is implemented on the MLS as public remarks that will be syndicated all over the web.
Listing your home on the MLS is crucial if you are serious about selling!
Do you offer any discounts for customers listing multiple properties with your Flat Fee Listing Services?
Yes we offer a discount to our repeat customers. We will charge the full flat fee listing fee on the first property you list with us. On any additional orders, we will provide you with a promo code that will save you 5% off the price of the flat fee listing package of your choice.
How do I make changes to my listing?
You can make as many changes as needed. Just contact us by e-mail, text, phone call or fax and we will make the change for you with in ASAP (Within 24 hours).
How does your full representation option compare to other companies such as Remax, Century 21 and other well known companies.
Our Full Representation service is second to none. We utilize the same tools the "big guys" use but we provide a more personalized service. Over the 16 years that we have been operating here locally, we have developed systems that will ensure a seamless transaction. We believe in delivering the highest level of customer service for a fraction of what our competitors charge. Our main goal during a transaction is stay on top of every phase, identifying potential issues that may arise and keeping our clients informed every step of the way. Communication is key, therefore we keep our clients updated on a weekly basis on their transaction and pave the way to a successful closing.
How long is the Flat Fee listing period on the MLS?
With our Silver Flat Fee MLS Plan ($999), your property will be listed for up to 6 months. You can elect to extend your flat fee listing for a fee of $499 for an additional 6 months. If you wish to cancel prior to your initial 6 month listing period, you may do so at any time as long as your property is not in escrow with a potential buyer..
On our Gold and Platinum packages, your home will be listed on the MLS for up to 12 months. You can cancel anytime unless you are under contract with a buyer.
How will I save thousands by choosing your Flat Fee listing service?
This illustration assumes that you list your property with an Authorized Flat Fee MLS member such as Executive Realty Services. Under this illustration, let's assume your home sells for $200,000 and that you paid ERS $999 for the Flat fee limited representation option. Your commission would be $6,000 plus ERS $999 fee, for a total of $6,999. This is calculated as follows: $200,000 X 3% = $6,000 paid at closing and ERS fee of $999 (paid at time of listing). Now, let’s compare the savings if you listed your home with a traditional broker for 6%. The commission on a $200,000 sale with a 6% commission rate would be $12,000 ($200,000 X 6% = $12,000). Therefore the savings would be $5,001 ($12,000 - $6,999 = $5,001).
Can I upgrade to a full service listing with Executive Realty Services at any time?
Yes you can. We will need to have an exclusive right to list/sell agreement signed by Seller(s) so that we can initiate the service. If you choose the Silver Flat Fee package of $999, You can upgrade to the Gold Or Platinum package by paying the difference up front and a $795 will be due at a successful Close of Escrow. Once you choose full representation, you cannot change back to limited representation.
If Executive Realty Services finds a buyer and sells my home, will I owe a commission?
Yes. If we present a qualified buyer to you and they purchase your home, we are entitled to the buyers' agent's commission (whatever you are offering 2.5%-3%) for selling your home since we are acting as the Buyer’s Agent.
If I find my own buyer, will I still have to pay a selling commission?
No. You still maintain the right to sell your home on your own. If you find your own buyer, you will not be obligated to pay a commission on the sale. If you would like ERS to represent your buyer's side of the transaction, the ERS will be due a 1% commission of the sales price at Close of Escrow.
Is it true that Realtors using the Multiple Listing Service (MLS) sell most houses and that they usually sell for a higher price?
Yes, it's true on both accounts. According to the National Association of Realtors, approximately 75%-85% of all U.S. homes are sold through Realtors using the MLS and homes listed on the MLS average net proceeds of 7% higher than homes sold for sale by owner.
The MLS will give you maximum exposure and this is the key to a successful transaction. There is no other effective way to sell your property and be successful
Is your Flat Fee Refundable?
If for whatever reason you change your mind on using our services after paying for one of our packages, we will refund 100% of your money as long as your listing is not uploaded into the MLS. We require you to submit your cancellation in writing via email. Once your listing is uploaded into the MLS by our team, the flat fee becomes non-refundable and services will be considered rendered.
Must I have a lockbox?
No, but Realtors depend on quick access. Realtors show many homes within a very short period of time, access to your home may make a difference. We strongly recommend a Realtor lockbox. We only use electronic Sentri lock boxes for safety reasons. We track every Realtor that shows your property and we send you real time notifications via text with the Realtor's contact information.
What is a Flat Fee Listing?
MLS® stands for Multiple Listing Service. Every home for sale listed by a REALTOR® (unless it is specifically exempted from MLS®) will be listed on MLS®. Listing REALTORS® enter the data about a home for sale and offer to share the commission with a broker who brings a buyer. Regardless of which brokerage a REALTOR® works for he or she has the same database through the Las Vegas Real Estate Board; therefore, once your home is on the MLS®, you’ve employed over thousands of Las Vegas REALTORS® to help sell your home.
These days, consumers have more than one choice in the way they sell their home. Now you can advertise your home on MLS® and realtor.com without having to employ a REALTOR® for any other services. A REALTOR® is still required to upload the listing but from there you handle the sale on your own. Essentially, you sell your home on your own while having the market exposure of MLS®.
How Buyers Found Their Home
How does it work?
With a Flat Fee MLS® package, also known as a ‘Mere Posting,’ you get the exact same powerful MLS® exposure as a ‘Full Service’ listing; however, you take on some of the work yourself including coordinating REALTOR® viewings, showing the property to perspective buyers, obtaining feedback, receiving and negotiating offers, and handling condition removal such as the inspection. Essentially what a ‘Mere Posting’ amounts to is a For Sale by Owner (FSBO) with MLS® System exposure. After the home is listed, the homeowner takes control of the selling process.
What is the difference between a traditional real estate company and Executive Realty Services?
We offer the same services as a traditional real estate company. We specialize in saving our customers thousands of dollars by offering a flat fee listing option for sellers and incentive for buyers. We cater to our clients and offer more innovative services for less. Our clients receive the maximum benefits from our 16 years of Local Real Estate Experience.
What is the Multiple Listing Service? (Also known and referred to as the "MLS")
The Multiple Listing Service (MLS) is the National Association of Realtors (NAR) computerized list of homes currently for sale. This is an exclusive tool, only available to the 700,000 members of the NAR. The MLS is the primary tool used by Realtors to find homes for their buyers, and for most Realtors and buyers, it is the only tool they need to find the right home for them. Realtors search the MLS daily to find potential matches for their buyers, thus when new listings are entered, they are immediately evaluated by thousands of Realtors with prospective buyers, making your house rapidly popular.
The MLS provides the biggest marketing advantage in selling houses. This kind of exposure to buyers is not available anywhere else. You maximize your chances of selling your property more quickly and at a better price when it is listed in the MLS. When your property is in the MLS your property receives the broad coverage of a large number of realty offices that have access via computer to your home's availability, price and features.
Being listed on the Realtors MLS enables you to take advantage of the power of thousands of Realtors in your area. That means more exposure for you!
Who handles the negotiation with the Flat Fee listing service?
Seller(s) handles all negotiations on their behalf with our Silver Package. On our Gold and Platinum full representation packages, we handle everything from start to finish.
Will my listing appear on the Web Sites of other local Real Estate Companies?
Broker networking is where brokers give each other permission to share their listings on each other’s websites. Your listing will be displayed on other local real estate company active listings personal websites. Thus a buyer working with another real estate company who does a search will have your listing in the database.
Will my listing look the same as a full listing commission to a traditional agent?
Yes. Your listing will look like all the other listings on your local MLS. For our Silver Flat Fee Listing package, Realtors will be instructed to contact you the seller(s) directly due to the fact that we are listing your home on a Limited Representation basis.
Will my property be listed on the Internet?
Yes unless instructed otherwise by the Seller(s). Your property will appear on all national Real Estate websites such as REALTOR.com®, LasVegasRealtor.com, Zillow, Trulia and Yahoo Real Estate. Your property will appear in Vegasflatfee.com and over 100 syndicating Real Estate Websites.
Will Realtors contact you or me for a showing?
Realtors will call before a showing or a preview of your home unless otherwise indicated.