Question 1

Why should I list my property for a Flat Fee?

Accepted Answer

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 = $200

As you can see in the scenario above, the seller would save $8,800 over a standard listing using a broker.

Question 2

Will my property sell on the RMLS?

Accepted Answer

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.

Question 3

Are you my broker?

Accepted Answer

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.

Question 4

Do I need to notify you when I accept an offer?

Accepted Answer

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.

Question 5

Do I need to offer a commission to buying agents?

Accepted Answer

The 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.

Question 6

How long will my listing stay on the RMLS?

Accepted Answer

We will maintain your listing on the RMLS for one year, 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.

Question 7

How do I make changes to the listing once it is active?

Accepted Answer

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.

Question 8

Do you offer bulk listing discounts?

Accepted Answer

If you have multiple properties to list at one time, please contact us in advance to discuss rates and terms.

Question 9

Can you help me with the completion of forms during the sale process?

Accepted Answer

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.

Question 10

Can I include photos with my listing?

Accepted Answer

Absolutely! You may include up to 32 photos, which will be shown with your listing on the RMLS. There is a maximum resolution of 1920 x 1440.

Question 11

Can I list bare land or a Multifamily property with you?

Accepted Answer

Absolutely! We're happy to list lots/land as well as MultiFamily properties. Please contact us directly when listing these types of properties, as a specialized form is required.

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