Flat Fee Listing FAQ

1. Is IDG Realty LLC a licensed Texas Real Estate Brokerage?

Yes, we are licensed and fully insured. You can verify our license at the Texas Real Estate Commission.

2. Can you really list a house for this little?

Yes, we can and we frequently do. Frankly, the flat fee listings are profit centers for us. However, it allows us to keep our exposure in the community high. Flat fee listings have also been useful in helping us find investors, and potential investors with whom we can build relationships and future business.

3. What are IDG Realty’s listing Fees? What services are included in your “Flat Fee” listing service?

IDG Realty’s “flat fee listing” is as follows:

  • A listing for 6-months is $197 dollars which will give you basic access to MLS (HAR.COM). We have found that this is a price most homeowners are comfortable starting with, and that being able to pick the services they would like to have access to additionally provides the needed flexibility. For a complete breakdown, please see our order page.
  • With your Flat Fee Listing, you get a toll-free number with a unique extension and customizable voice mail. You can upload up to 32 photos with your listing. You can make unlimited edits and revisions during your listing period.

4. What websites will my house be listed on? Will my house still be shown by Realtors?

Yes! Realtors will show your home because it will be listed in the biggest source of houses available in today’s marketplace, MLS. Furthermore, the property will also be listed in all other major real estate websites including Realtor.Com, Zillow.com, homes, com, Trulia.com, Chron.com and many others. Although listing on other websites besides MLS can be helpful, keep in mind that 85% of home buyers use a licensed Realtor to buy their first/next home, which then turn to MLS to look for houses that match their client’s criteria. There is no better option when selling a home than listing your property on MLS as it provides you with unparalleled exposure to both buyers and Realtors with ready-to-buy clients.

6. How long are your typical flat fee listings and what happens if I want to cancel?

You can cancel any time. Our standard “flat fee” listing has a duration of 6 months which is extendable for up to 1 year for a minimal fee of $97 dollars. In the unlikely event that you would want to terminate your listing with IDG Realty LLC, there is absolutely NO FEE for terminating (assuming there are no contracts pending involving a buyer procured by a brokerage including any buyers brought by IDG Realty LLC).

7. How will my listing be different from those paying a full commission?

The main difference is that when utilizing a “Flat Fee” listing service, the client pays for the services upfront rather than at the sale of the property. Whether the property sells or not, the fees are fully earned at the time that the property is officially listed on MLS. Aesthetically, there is no real difference in a “flat fee” listing vs. a “full service” listing. In fact, most Realtors wouldn’t even know that you would be saving a tremendous amount of money by listing with us until they see the settlement statement at closing and DON’T see a commission being paid to IDG Realty LLC.

8. How do I know when my property has been listed on MLS with the correct information?

Once we have received all of the required paperwork, your pictures, and upfront payment for our services, we can typically have your listing up within 48 hours. Once listed, we will provide you with a copy of the listing by email and for you to verify that all of the information is correct

To keep things simple, we ask that all photos are sent to us digitally along with all listing paperwork and disclosures sent you by your company representative. Photos must be in JPEG format.

10. What other documents am I allowed to post on my listing? What do you recommend? Is there a fee?

There are NO additional fees for additional documents posted to your listing. To make your transaction as smooth as possible, we like to post anything and everything that is important regarding the house you are selling and recommend you provide as much information as possible. As part of our paperwork, we provide you with a Seller’s Disclosure form in which you state the facts about your knowledge of the property you are selling. This is a document that is commonly requested by agents before sending in an offer. Therefore, we require a fully filled out copy of it at the time of listing so that we don’t have to chase you down for it later. Other documents to consider uploading include: Floor Plans, Amenities/Upgrades List, Additional Property Description Details, Warranty Documents (Foundation Warranty), etc…

11. Who will be my person of contact after I am listed?

Your contact person/agent will be assigned to you once your listing agreement has been returned and payment for our services has been received. You will have their contact info and they will be your primary contact in charge of helping you with your listing and any updates you may need to make.

12. Who takes the phone calls? What telephone number will be on my MLS listing?

All phone calls will be directed directly to you. However, if you are unavailable, our company telephone number will also be listed and answered only during the business hours of 10am to 6pm by one of our receptionist. We will not be responsible for any missed calls or appointments. Keep in mind that we receive lots of calls daily and that it is impossible to personally answer each call. We therefore always recommend a showing service to guarantee that all of your appointments are being handled properly.

13. What is a showing service and what happens when a Realtor calls that wants to show my property?

We recommend hiring a showing service for convenience and efficiency. So what is a showing service? Well, think about it as a personal assistant who serves as your appointment center. Each time an agent calls to show your house, your “showing service” will answer the phone politely, take their name, phone number, license number and document it. They will then ask you for permission to show the property (if you like), and send the Realtor that showed your house an automated request for feedback. Furthermore, you will receive a log-in to track each and every showing as well as see a history of the feedback provided.

14. Should I be present when an agent is showing my listing?

The quick answer is NEVER! Buying a house is a very personal process and by having you around walking behind a buyer and trying to be a salesman, you are doing nothing but showing signs of disparity and ruining the buyer’s decision making process. They will likely tell you the home is “nice” but be afraid to tell you the truth or even make an offer. Furthermore, meeting the owner has a tendency to make the buyers uncomfortable and disables them from being able to see the house as their own some day. Your goal is to have a house that will sell itself through amenities, price, upgrades, location, etc…or more likely combination of the aforementioned. If you chose to go the hard route and open the house up yourself every time a perspective buyer wants to see it, our advice is to disappear as soon as you open it and re-appear after they have left the home. The BUYER does not want you present and the agent does not need you to sell it for him/her! The only exception to this rule is when showing the house to perspective buyer without representation from a Realtor.

15. Picking up phone calls and scheduling showings is very time consuming…is there an easier way?

Yes, you have options and for your convenience there are services like CSS (Centralized Showing Services) which are open 7 days a week from dusk till dawn. Not only will they take the phone calls, they will schedule the showings according to the times you allow, they will notify you by either text message or email and send you an automatic email with any feedback(if any) left by the showing agent.

Showings set with CSS are completely customizable. You will receive a log-in to your own personal listing website which will allow you to see all of your showing history along with detailed contact information for the agents that showed your home. When calling CSS, an agent has to disclose his license number and personal pin code which then allows CSS to give them your lock box code and schedule a time for them to show the home. If you choose, they will even call you for permission or text you for approval. It is completely up to you… you are in control of your own showings without the hassle of picking up every phone call while risking the possibility of having unlicensed individuals walk through your home. Oh…and let’s not forget to mention that you will NEVER miss an appointment.

16. How do I find out what that Realtor’s feedback is regarding their buyer’s thoughts?

In a limited listing, the seller is responsible for tracking down the Realtors that showed their home for potential feedback. In our experience, this is a very inefficient technique as most Realtors will never really tell you the truth in fear of hurting your feelings. This is yet another reason why we strongly recommend the use of a “showing service” to do the dirty work. Each time your house is shown, the service will send at least three email reminders in an easy to respond format that allows them to give you feedback on their client’s thoughts of your house. This information is crucial when trying to figure what about your property is either appealing or unappealing to potential buyers.

17. Who goes to show the property to potential buyers? What if I find my own buyer? Is there a cost?

The majority of all sales listed on MLS are made through buyer’s agents showing properties to their perspective clients. In the rare occasion that an unrepresented buyer asks to see the property, the responsibility to show the house to that buyer would fall on the home owner, not the listing agent. However, keep in mind that if you sell the property to somebody without an agent, you will be able to save the commissions involved in paying that buyer’s agent (usually a full 3%). Since our fees are collected upfront we will not be billing you for anything further. Keep in mind that this is very rare as most buyers are educated enough to have a Realtor represent them.

18. Why would I want to use an electronic box instead of a combo box?

Primarily to enhance SECURITY. When using a standard lock box, anybody can have the code and therefore access to your home. This is how many vacant homes are broken into and vandalized. The worst part is that you don’t know who did it when it happened. With an electronic lock box, you are essentially securing your home from unauthorized and unlicensed entry. Only a licensed Realtor in good standing has access to the key buy using a special device called a “Supra Key.” When logging in, the lock box authenticates the Realtor and keeps a record of the usage. For a small cost, you can easily make sure that only licensed agents are accessing your home and not just sending random people there to potentially vandalize your property.

19. Is IDG Realty, LLC representing me as my Real Estate Agent? Will they assist me when I receive offers?

No. Our flat fee listing service is a LIMITED SERVICE where the seller is responsible for all showing arrangements with prospective buyers and/or their agents, as well as all negotiations, settlements, and closing. Upon receipt of any purchase offers sent to the listing brokerage, we will deliver the offer to the seller by fax or email for consideration and wait for a response. Our services are strictly limited to providing sellers with the exposure needed to sell a property by listing it on MLS. Sellers are to give us written permission to list the property through a standard listing agreement, as well as a signed notice of “non-representation” stating that we will not be the responsible for standard representation duties of a typical listing.. Additional services to help with interpreting, negotiating, and bringing a contract to the closing table can be purchased at an additional cost. Professional representation is recommended and can be arranged by the Realtors of IDG Realty, LLC at a discounted rate of 1% + 500 dollars of which IDG Realty, LLC will credit any/and all amounts spent so far for the flat fee listing, excluding deposits for lock boxes.

20. Will IDG Realty, LLC and their agents be showing my house?

Yes! Not only will we list the property for sale, but our specialized buyer’s agents will be working hard to sell your home! This is included in your services at no additional charge. However, if we find a qualified buyer that can bring an acceptable offer, we do reserve the right to make the buyer’s agent 3% commission regardless of what you may be offering on your listing.

21. What if I want a refund? Is your listing fee refundable?

As soon as our agent has input your information into the MLS to create a live listing, our listing fee is fully earned. Other services that were contracted, but not executed may be refunded; however, performed services are fully earned, regardless of length of time. You may cancel you listing on MLS anytime by providing us with a written request however all fees collected, excluding deposits, are non-refundable.

22. How long does it take to get a lock box and sign, is there an additional charge?

Since this is a limited service, we ask that all clients contact us prior to making a visit our office located at 5855 Sovereign DR, STE D150, Houston, TX 77036 in order to pay for our services as well as pick up one of our lock boxes (if applicable).

23. Can I still get listed if I can’t visit your office? Can I pay with CC and have WPR deliver my sign and box?

Yes, we prefer that you pay by credit card.. We can also have your lock box delivered to your home for $30 Dollars for any properties outside of a 15 mile range of our office.

24. Can I make changes to my listing on MLS once it is up? Is there a fee for that?

You can make as many changes to your listing as you would like with no added fees. However, they must all be requested by email to your assigned agent/broker and there is a 24 hour processing period. Any changes to the list price must be in writing  by all parties with ownership to the property.

25. Do I still have to pay a 3% commission to the buyer’s agent? Will Agents boycott my listing?

You don’t have to pay a 3% commission to the buyer’s agent, and it would be unethical for agents to boycott your listing simply due to the buyer’s agent commission being offered. By law, Real Estate commissions cannot be fixed and you can literally offer any amount you like. However, keep in mind that you are in a competitive buyer’s market and that selling your house to a buyer isn’t an easy task. The nearer you come to the typical 3%, the better the chance you will have of making it to the list of houses that a Realtor will recommend to his/her clients. In fact, some clients even choose to offer a little more as a bonus or a higher percentage rate as an incentive to agents for showing their house to more clients. Although we cannot guarantee that this strategy will work, it is imperative that you keep that in mind the potential negative affects your listing may suffer when thinking of offering less than what most Realtors expect to make on their next sale.

26. Who takes care of the paperwork?

IDG Realty, LLC will take care of sending you all of the proper listing paperwork as well as forward you all contracts/offers received by any potential buyers for your review. We expect that anybody using this service should know their way around selling a house and therefore we do not include any contract analysis or advice in our standard fees. However, if you would like for us to look through your contracts and give you a professional opinion, we would be happy to do so at a cost.

27. What if my property doesn’t sell quickly? I need professional advice, can you help?

You have options. We offer hourly services where you can have a professional investor, broker, realtor, or a combination of each walk your property with you and give you advice on what may be keeping your house from selling. Furthermore, if you would like us to re-list your property the “full service way” we can do so for only 1% of the sales price + $500 dollars. (That’s a full service listing a third of our standard price) Furthermore, we will credit you any amounts you have already spent with us towards our “full service” fee.

28. How many open houses can I schedule? Is it okay if I host them and if I am busy, can you do them for me?

You can schedule as many open houses as you would like and are able to handle. Just send us an email with the times and we will get them posted on MLS for public view. If you can’t make it or would rather have a licensed agent host your open houses, we can pay a Realtor in our office or Network to host a 5 hour open house including one hour of prep time with a minimum of a 1 week notice.

30. What other services does IDG Realty, LLC provide?

IDG Realty, LLC IS NOT an exclusive “flat fee” listing service, and therefore should not be looked as simply a place to list your house for cheap. We like to provide people with options, and offer flat fee listings as one type of service. IDG Realty, LLC  is a full service brokerage with a focus on Real Estate Investing and creating value in the businesses of other Real Estate Investors. By listing your property with IDG Realty, LLC, you will also have access to all of our brokerage services. Our company’s philosophy is based on keeping a mutual understanding of helping others to further advance our growth. This mentality helps create a circle of reciprocity that continues to grow each time we shake the hand of a new client. If there is ANYTHING we can do to help you grow your business, please do not hesitate to let us know and allow us the opportunity to help you.

Do you have any other questions or comments? Contact our Broker, Chris Tubbs, at 888-401-0447 x101, by e-mail at office@idgrouprealty.com, or visit our website www.idgrouprealty.com and register for a property consultation.

 

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