|
Contact:
Phone: 224-725-7012
Fax: 847-627-8170
Office Location:
5440 N. Cumberland
Suite 150
Chicago, IL 60656
Office Hours:
Monday-Friday
9:00AM - 5:00PM
After Hours: Please Call.
Saturday & Sunday
By Appointment Only
|
 |
Commission Questions
- How much money can I save?
When you employ a Traditional Broker to list your home, the Broker gets paid a commission (often 5-6% of the sale price) regardless of who procures the Buyer. The Traditional Broker through the MLS offers to split the 5-6% (listing commission) with the Broker representing the Buyer. If there is not a Broker representing the Buyer the Traditional Broker retains 100% of the commission.
With our program, you pay a flat fee of $199 upfront to list your home in the MLS, Realtor.com®, chicagotribune.com. craigslist.com and numerous other high traffic websites. Through the MLS you offer to pay a commission to a Realtor® representing a Buyer.
If you you sell your home "By Owner" to a Buyer who who does not have a Realtor® that participates in the transaction you pay NO commission!
Savings Example:
On a $400,000 home if theTraditional Broker's commission is 5% you would pay $20,000. With our program, on a $400,000 home if you pay the Buyer's Agent a 2.5% commission ($10,000) + our upfront flat fee of $199 (for a total of $10,199) you would save $9,751.00. If a Buyer's Broker does not participate in the transaction and you sell "By Owner" you save $19,751.00!
- How much commission should I offer to an Agent representing a Buyer?
The amount of commission offered to an Realtor® for a Buyer is determined by you at the time of the listing and it is disclosed to Buyer Agents in the MLS. It's a good idea to offer a commission that is competitive with other commissions being offered in your area so that you are able to reap the full benefit of the MLS. Commissions paid to Agents representing Buyers typically range from 2% to 3% of the selling price and are paid at closing. The commission offered to a Buyer's Agent is determined soley by you.
- Is Power House Realty, Inc. paid any commission?
No. You pay a $199 flat fee upfront to list your home.
- Will Power House Realty Agents show my home and attempt to collect the Buyer’s Agent portion of the commission?
No. All calls and internet leads we receive are forwarded directly to you.
- Can I sell my home "By Owner" while it is listed in the MLS?
YES! If you find the Buyer yourself without a Buyers Agent, you pay NO commission. Let us know that you are working with a Buyer who is not represented by a Realtor and we will assist with negotations, contract preparation and follow up, as a ministerial act, at no additional charge.
- What is the difference between a Traditional Full Service Broker and Power House Realty, Inc.?
Traditional Agents will help you determine a listing price by using comparable home sales data. They list your home on the MLS, schedule showing appointments, occasionally sit open houses or Broker’s tour, take photos of your property, present offers to you and help you negotiate the sales contract.
We provide comparable home sale data to you so that you are able to determine the listing price. We list your home on the MLS, input dates and times for Broker’s tours and open houses, present offers to you and help you negotiate the sales contract.
You determine the listing price, arrange appointments, sit open houses, broker’s tours and provide photos of your property.
Internet Exposure Questions
- Why is Realtor.com® important?
Realtor.com® is owned by the National Association of Realtors. It is the #1 website used by consumers shopping for a home. Only properties listed through the MLS appear on this site. We showcase our listings on this site.
- When will my listing appear in the MLS and other internet sites?
The MLS listing will appear within 24 hours after we receive your paperwork, photos and payment. Realtor.com® and the related websites may take 2-7 days. Chicagotribune.com may take up to a week. Once your listing is entered into the MLS, we will email a copy to you for review and verification.
Listing Change Questions
- Can I change my listing?
Yes, make as many changes to your listing as needed. All price changes, commission changes, and any other monitary changes must be submitted in writing and signed by all parties to the listing agreement. These changes must be faxed to our office. Most other changes can be submitted via email.
- Can I cancel my listing?
Yes, at any time. There is no cancellation fee. All requests to cancel must be in writing, signed by all parties to the listing agreement, and faxed to our office.
MLS Questions
- What is the Multiple Listing Service?
The MLS is an extremely powerful marketing tool employed by Real Estate Agents. Midwest Real Estate Data is a combination of the Multiple Listing Service of Northern Illinois and the MAP Multiple Listing Service. It is the largest, most extensively used database of its type in the country. Real Estate Agents search the MLS for homes which fit the needs of their clients. MRED exposes your home to over 45,000 Agents and the Buyers they represent.
Over 80% of the Buyers begin their home search on the internet. Over 90% of the Buyers searching for a home use Real Estate Agents. Real Estate Agents research properties for Buyers by utilizing the MLS.
- Do you use the MLS that other Agents use?
Yes. We participate in the MRED (Midwest Real Estate Data) which is a combination of the Multiple Listing Service of Northern Illinois and the MAP Multiple LIsting Service. The MLS encompasses listings in Cook, Lake, Du Page, Kane, McHenry, Kendall, Will, Boone, Winnebago, LaSalle, Bureau, DeKalb, Grundy, Jo Davies, Kankakee, Lee, Livingston, Marshall, Putnam, Stephenson and Stark Counties.
- When Will My Listing Appears On The MLS and Other Websites?
Once we receive your paperwork, photos and payment your listing will appear in the MLS within 24 hours. It may take a few days before it downloads to Realtor.com. Chicagotribune.com and other related websites can take up to one week.
Offer Questions
- What happens when an Agent forwards an offer to your office?
Illinois Law requires all Listing Agents to provide a minimum level of services to their clients. To comply with Section 15-75 of the Illinois Real Estate License Act of 2000 and provide borkerage services as set forth in said Act and at minimum provide the following services: 1) accept delivery of and present to the client offers and conteroffers to buy, sell, or lease the Seller's property 2) assist the seller in developing, communicating, negotiating, and presenting offers, conteroffers, and notices that relate to the offers and counteroffers until a leas or purchase agreement is signed and all contingencies are satisfied or waived; and 3) answer the Sellers' questions relating to the offers, counteroffers, notices, and contingencies. Will will provide these services when the Buyer is represented by a Realtor or if you are selling by owner.
- Will you pre-qualify the Buyer?
Yes. However, it is not a guarantee that the Buyer will obtain financing. We will do our utmost to ensure that the Buyer is financially qualified to purchase your property and advise you accordingly.
Open House and Broker's Tour Questions
- Do you recommend that we do an open house?
Most homes in the marketplace are NOT sold as a result of an open house. Although the chances are slim that you will procure a Buyer this way, we never say never.
- Why Do Some Real Estate Agents Sit Open Houses?
Open houses are great for Real Estate Agents hoping to find Buyers that they can represent when they purchase any property. If your home is not what the Buyer is looking for, Real Estate Agents will offer to show these prospects other homes in the marketplace.
- Where Can Open House Signs Be Purchased?
Open House Signs are inexpensive can be purchased at most hardware stores, Home Depot, Menards and Lowes. Open House directional signs can also be purchased at these locations.
- What is a Broker’s Tour?
The MLS predetermines and day and time to have Real Estate Agents view your home. In some areas Real Estate Agents do not show up for these tours. In other areas they do. We are unable to determine whether or not a Broker’s Tour in your area will be effective.
Professional Support Questions
- How Do I Get My Questions Answered?
Please either email or call us and we will assist you.
- Should I hire an Attorney to handle the transaction?
Yes. We recommend that you hire a real estate attorney to represent your legal interests. Your attorney will review the contract and assist you through the closing process.
- Does Power House Realty, Inc. hold earnest money?
No, we do not hold earnest money. Arrangements can be made with your attorney or another third party to hold the earnest money.
- What Services Will You Provide if My Home is Sold By Owner?
Please advise us that you are working with a Buyer who is not represented by an Agent. We will advise the Buyer that we are working on your behalf and we will perform the following ministerial acts at no additional charge.
We will assist with contract preparation.
We will accept delivery of and present to offers and counter offers to you from an unrepresented Buyer.
We will help you develop, communicate and negotiate offers and counter offers and notices that relate to offers until an agreement is signed.
We will follow up until all contingencies are satisfied or waived.
We will answer your questions relating to the offer, counteroffers, notices and contingencies.
Showing Appointment Questions
- How will Agents schedule showings?
There is a field in the MLS in which we will publish your phone number and instruct all Agents to contact you directly.
- How will Buyers contact me?
No more worries about missing a lead! We are able to publish your name and phone number on Realtor.com, chicagotribune.com and the other websites. Buyers that have questions or want to schedule an appointment will contact you directly.
- Do I have to use a Lock Box?
No. If you are unavailable to show your home you may opt to use a lock box and give the Buyer’s Agent the access code information. We recommend that after your home is shown that you change the access code.
- If I want to use a Lock Box where can I get one?
Combination lock boxes can be purchased at most hardware stores, Home Depot, Lowes and Menards. The cost is approximately $20-$35.
Sign and Marketing Material Questions
What is the difference between a Traditional Full Service Broker and Power House Realty, Inc.?
- What Type of Service Will A Traditional Agent Typically Provide?
Most Traditional Agents will help you determine a listing price by using comparable home sales data. They gather pertinent data about your home, list your home on the MLS, offer compensation to a Buyer's Agent through the MLS, schedule showing appointments, occasionally sit open houses or Broker's tour, take photos of your property, provide lock boxes and brochure boxes, marketing material for distribution to potential Buyers, present offers to you and help you negotiate the sales contract, counteroffers, follow up on contingencies, follow up on showing activity and answer questions you may have about your transaction. Traditional Agents usually do not allow you to Sell By Owner and do not refer leads they receive from unrepresented directly Buyers to you.
- What Services Are Provided By Power House Realty?
We provide comparable home sale data to you so that you are able to determine the listing price. We list your list your home on the MLS, offer compensation to a Buyer's Agent through the MLS, upload the listing information to various websites, input dates and times for Broker's tours and open houses, present offers to you and help you negotiate the sales contract, counteroffers, follow up on contingencies, and answer questions you may have about your transaction. We forward all leads we received from Buyers not represented by Agents directly to you. We provide a copy of the MLS input sheet with all the pertinent data about your home for distribution to potential Buyers.
We offer professional appointment setting and follow up services through a third-party Showing Service for Realtor showings. When you authorize us to employ the Showing Service they will contact you to schedule Realtor appointments and send a feedback survey to every Realtor that shows your home. Most Agents will respond to the survey and the results are sent directly to you.
- When Listed with Power House Realty, What Are My Responsibilities as a Seller?
You determine an appropriate listing price and provide pertinent data about your home on our Property Report Form. (The Property Report form is located on the List Now page of our website). You determine amount of compensation offered to a Buyer's Agent through the MLS, arrange appointments, purchase your own lock box and brochure box, copy the MLS Listing Sheet to be distributed to potential Buyers, host open houses, broker's tours and provide photos of your property.
|
