Frequently Asked Questions
We provide the information ‘as-is,’ ‘with all faults’ and ‘as available.’ We do not guarantee the accuracy or timeliness of information listed below.
Why should I list on the MLS?
Over 80% of home buyers use a Realtor®, who in turn, will search the MLS database to identify any homes for sale that meet the buyers requirements. Your home will be seen by more buyers in a shorter time frame and most of the buyers will already be financially pre-approved since Realtors® do not want to waste their time showing homes to buyers who cannot afford to purchase. Additionally the MLS feeds all the major real estate websites so your exposure will be far greater than just listing a home on your own.
Who will be seeing my listing?
You get the best of both worlds. Individual buyers and Realtors® with buyers will know your home is for sale. Individual buyers looking for homes will see your mls listing posted on websites like: Realtor.com, Trulia, Zillow, Yahoo and others. Brokers will have direct access to your home information through the Multiple Listing Service (MLS). They will already have pre-approved buyers that they are working with.
What if I want to cancel my listing?
You can cancel at anytime via email with no strings attached.
What will I have to pay the buyer’s broker?
You decide what you pay a real estate agent (buyer broker) who brings you a potential buyer. When you list on the MLS you commit to paying the agent who brings you the buyer a set commission. To make sure you take full advantage of being listed on the MLS we recommend you offer a 2.5% commission to a buyer’s agents.
What if there is no buyer broker in the transaction?
Then there is no % commission.
Who pays what in Closing Costs?
Closing costs are the fees, charges and taxes required to (A) originate the mortgage loan and (B) transfer the property from seller to buyer. They are also referred to as settlement charges. When you “close” on a property, you finalize all of the paperwork and settle all of the outstanding fees and charges. This is also when ownership is transferred from the seller to the buyer. All of the fees accumulated during the mortgage process must be paid on closing day.
The buyer / borrower pays for most of these fees. The buyer typically pays for any fees relating to their mortgage loan, and the seller typically pays the agent’s commission and various fees relating to the transfer of property. However, everything is negotiable in the sale of a house and in some cases the seller may contribute money toward the buyer’s closing costs as ‘concessions’ this is typically found in the Residential Purchase Agreement (RPA). More info can be found here. An itemized list of costs can be found here. A list of ‘typical’ costs and who pays what is below:
How do Buyers and Realtors get my information or how will I be contacted?
Broker/Realtors® will have all your information available to them through their Multiple Listing Service under the showing instructions. They will call you directly to set up showings. Individual buyers will have access to your listing through one of the commercial websites you will be listed on. The MLS does not allow your phone number to be pulled by these websites but any individual that calls or emails our company will be referred to you.
How soon will I be listed?
We can have you listed on the MLS within 1-2 business days. Your listing may take 3-5 days to appear on some websites.
Will brokers boycott me?
Real estate agents make their money from commissions. If you were to hire an agent to sell your home you would pay 4-6% commission. That commission is normally split with the buyer who brings in the buyer. In a normal real estate transaction the buyer broker gets 2-3% commission. As long as you are offering a similar commission real estate agents will show your home. The other reason they will not boycott you is that it is illegal and they can have their license revoked. They must always be acting in the best interest of their clients. Not showing your property based on the commission you are offering is not acting in the best interest of their clients. Furthermore if they decide not to present to you they can possibly be engaging in price-fixing and group boycotting which violate U.S. Anti-trust laws involving both civil and criminal penalties leading to a possible 3 year jail term and heavy fines.
What is our Agency Relationship?
I will be your listing broker with an Exclusive Right To Sell serving you in a limited service capacity. Your listing is not considered a For Sale By Owner (FSBO).
What is your money back guarantee?
If you are not satisfied for any reason in the 1st 7 days we offer a full 100% money back guarantee. After that we have another program where we can refer you to one of the best agents in your area and at closing and if you decide to hire them we will refund your money at closing.
Will Berg Properties bring buyers to my home?
Possibly: We do work with buyers that we cultivate from a variety of traditional sources like word of mouth referrals, past clients, pay per click advertising, and others.