Frequently Asked Questions
Q. Why should I
list my property for a Flat Fee?
Q. Can I list a
property in Washington State?
Q. Will my
property sell on the RMLS?
Q. Are you my
broker?
Q. Do I need to
notify you when I accept an offer?
Q. Do I
need to offer a commission to buying agents?
Q. How long will
my listing stay on the RMLS?
Q. How do
I make changes to the listing once it is active?
Q. Do you offer
bulk listing discounts?
Q. Can you
help with the completion of forms during the sale process?
Q.
Can I include photos with my listing?
Q.
Why should I list my property for a Flat Fee?
A. The RMLS is an online database used by Portland Area brokers to buy
and sell homes. It is one of the most important tools at a broker's
disposal to find a property for their buyer, or list one for their
seller. When using a real estate agent to list your property, you can
typically expect to pay around 3% for their services, including listing
the property in the RMLS system. If you would rather handle the sale
yourself, but want the exposure of the RMLS database, listing for a
flat fee has a substantial cost benefit as seen below:
$300,000 Property sold by listing agent
3% Commission paid to listing agent = $9,000
$300,000
Property sold with a Flat Fee RMLS listing
Flat Fee
listing = $300
As you can see in the
scenario above, the seller would save $8,700 over a standard listing
using a broker.
Back to List
Q. Can
I list a property in Washington State?
A. YES!!! In addition to the Portland Metro area, we can
also list properties in Vancouver and SW Washington. Simply submit your
property using the same online form, and you're listing will be active
within hours! The RMLS covers only Portland Metro areas, and should not
be used to list properties in Southern Oregon.
Back to List
Q. Will my
property sell on the RMLS?
A. The RMLS is not a guarantee. It is only another means to market your
property to brokers all over Oregon. Think of it as a newspaper ad, but
one that will be read by thousands of brokers. The success of your
listing depends solely on the specifics of the property, and the
current market conditions. Some properties have an accepted offer in 2
days, some stay active for 6 months. The most important factor is the
attractiveness of your property to other buyers and brokers.
Back to List
Q.
Are you my broker?
A. Yes, but only for the very limited purpose of listing your property
to the RMLS. All offers should be made directly to you, and I am unable
to assist in paperwork or legal advice. You are responsible for all
sales transactions. More details about the scope of our services are
set forth in the listing contract.
Back
to List
Q.
Do I need to notify you when I accept an offer?
A. You must notify us within 48 hours of any status change in the
property. I.E. an accepted offer, taking the property off the market,
etc. It is important that we maintain the accuracy of the RMLS in
changing the status to pending or sold within 48 hours of the change.
Back to List
Q. Do I need to offer a commission to buying agents?
A. RMLS is a service designed for
brokers. If you intend to list your property on RMLS, you should be
prepared to offer a buying agent a commission for their work. The idea
behind a Flat Fee listing is to attract brokers to your property, and
they should be compensated as if a realtor listed the property.
Back to List
Q. How
long will my listing stay on the RMLS?
A. We will maintain your listing on the RMLS indefinitely, or until it
sells. Should you wish to remove your listing for any reason, that will
end the listing relationship. If you need to temporarily withdraw the
listing and intend to relist later, please contact us to discuss the
options.
Back to List
Q. How do I make changes to the listing once it is active?
A. Simply Email us the requested
changes, and we will make them to the listing as quickly as possible.
You will receive a confirmation Email when the changes have been made.
Back to List
Q. Do you
offer bulk listing discounts?
A. If you have multiple properties to list at one time, please contact
us in advance to discuss rates and terms.
Back
to List
Q. Can you help me with the completion of forms during the sale process?
A. While we are happy to provide you
with any requested forms, we are not able to assist in their completion
or offer any legal advice. If you have any questions about legal
issues, you should consult an attorney with Real Estate experience.
Back to List
Q. Can I include photos with my listing?
A. Absolutely! You may include up to 16 photos,
which will be shown with your listing on the RMLS, when you
submit your listing form. All photos are resized to 640 x 480,
so attaching them in that size is preferred.
Back to List
