[Frequently Asked Questions]

MLS is the acronym for Multiple Listing Service. The MLS is a database of homes and properties for sale. The information is viewed on a website. There are over 800 MLS listing associations across the nation. Most of these MLS websites are for local real estate agents and are private. The information stored in these MLS websites cannot be seen by the public. Local MLS sites across the nation upload their listing information to the national listing site which is called Realtors.com. e-ListState.com lists your property on Realtors.com. Realtors.com is “The Official Site of the National Association of REALTORS®”. This is the largest real estate website as it gets 5.6 million unique visitors each month. No other real estate website gets anywhere near that amount of exposure. The information displayed on the Realtor.com website is public and therefore, available to everyone. Only a member of the National Association of REALTORS® can place your property on this website. Agents know that when they find a buyer for properties listed on this website that they will receive a commission for their efforts. Because of all of these reasons, Realtor.com is used by agents across the nation.

Why is Realtor.com important?

The most important benefit of listing your home in Realtor.com, is EXPOSURE. Being listed on Realtor.com enables you to take advantage of the power of thousands of REALTORS® in your area and thousands of potential buyers who are looking for their next home. Realtors.com is “The Official Site of the National Association of REALTORS®”.Realtor.com currently gets 5 million visits each month. Buyers everywhere use Realtor.com to help them locate a home. Your home may be the dream home they've been searching for. Help them find you by listing your home on Realtor.com.

Agents primarily only look at sources where they know they will receive a commission for their service. As a result, agents across the nation look at a local MLS, Realtor.com and newspapers to find homes for their buyers. Many local MLS sites contain a link directly to Realtor.com to make it easier to search national listings. Realtor.com targets the buying public and agents across the nation. Home buyers, not associated with a real estate agent, use Realtor.com when they search the internet for homes looking for an ideal match. Realtor.com provides the biggest marketing advantage in selling and buying homes. Search engines and well-published websites such as: AOL, MSN.com, Netscape.com, Excite.com and HomeStore.com all use Realtor.com as their source for visitors who click on “real estate” searching for a home. Realtor.com currently gets 5 million visits each month. This kind of exposure to buyers is not available anywhere else. The home seller maximizes their chances of selling their home more quickly and at a better price when it is listed in Realtor.com. Searching the national listings on Realtor.com is, without a doubt, the best marketing tool available to sell property.

If I list with you, can I change the look of my listing?

No. Your listing will look like all the other listings in the Realtor® MLS.

Can I sell my property myself?

Yes, you can. In order for us to list your home on the internet, you are required by law to sign a listing agreement. We use the "Exclusive Agreement Right to Sell" Modified agreement. This agreement lets you retain the right to sell your property yourself privately by owner and pay no commissions to anyone when the buyer is not represented by an agent. A commission is only required if an agent is involved in the sale of the property.

Can I display my phone number to the public in the MLS?

The MLS will not allow the seller's contact information to be displayed on any MLS or Realtor website. Realtor.com is a REALTOR website. Have no worries. Remember that e-ListState.com works for you. If someone from the public contacts e-ListState.com, this information will be forwarded to the seller by email. But Agents will call the seller and not e-ListState.com to show the property. Agents will follow the instructions in the MLS private agent remarks/confidential remarks section. They will call the seller directly.

What is an Exclusive Listing?

There is more than one type of Exclusive agreement:

1. Exclusive Right To Sell - This is the usual listing agreement that you would sign when you list your property into any MLS / Realtor system. With this type of agreement, "Exclusive" means one agent places your property for sale in the MLS... and "Right to Sell" means that the listing agent will profit when your property sells, no matter who sells the property. We do not use this one.

2. Exclusive Right To Sell - Modified e-ListState.com uses a modified version of the Exclusive Right to Sell. We require our sellers to pay a small listing fee when they are entered into the MLS. Depending upon the service level the seller is requesting, the small initial fee is paid at the time the listing is placed into the MLS with the balance due at close of escrow when the seller is signing up for full service. If the seller is purchasing MLS Entry Only or Limited Service Level, no additional fees are due the listing agent at close of escrow.Our contract provides the seller with the freedom to sell their property to anyone and in so doing, only pay a commission to a buyer's broker when the buyer is represented by a real estate broker. If the buyer has no agent, the seller pays no real estate commission. With the modified exclusive agreement, the owner agrees to employ a particular real estate broker to list the property for sale with the understanding that the seller retains the right to sell the property directly to a buyer not produced by the broker and thus pay no real estate commission. The listing broker may publish the listing in the MLS and cooperate with other brokers to sell the property. The nature of the listing must be disclosed as it places cooperating brokers at risk of losing a client to the seller. The seller/owner retains the right to revoke the listing at any time, to sell the property him or herself, and to negotiate with any buyer or agent for the conditions of the sale provided the seller is not currently under contract for sale. With the modified exclusive listing, because the owner retains the right to sell their property to anyone, the owner may place their property into any For Sale By Owner website or newspaper ads or wherever. The seller may advertise their home for sale anywhere.

3. Exclusive AGENCY Right to Sell - This is the agreement that gives the owner the freedom to sell their home and pay no commissions or listing fees to anyone unless the listing agent sells the property or there is a buyer represented by a broker. Once again, "Exclusive" means that one agent places the property into the MLS / Realtor system and AGENCY (by California State Law), the owner has the right to sell the property. An exclusive AGENCY is an agreement by which the owner agrees to employ a particular real estate broker to list the property for sale with the understanding that the seller retains the right to sell the property directly to a buyer not produced by the broker and thus pay no real estate commission. The listing broker may publish the listing in the MLS and cooperate with other brokers to sell the property. If the listing agent is successful in selling the property, the seller must pay a commission to the listing agent.The nature of the listing must be disclosed as it places cooperating brokers at risk of losing a client to the seller. The seller/owner retains the right to revoke the listing at any time, to sell the property him or herself, and to negotiate with any buyer or agent for the conditions of the sale provided the seller is not engaged in negotiations or under contract of sale. With the Exclusive AGENCY listing, because the owner retains the right to sell their property to anyone, the owner may place their property into any For Sale By Owner website or newspaper ads or wherever. The seller may advertise their home for sale anywhere.

3. Open Listing Right to Sell - With this agreement, the Seller lists their property with several agents and can make different commission rates with each of those agents. But the MLS will not allow more than one agent to place the property into the MLS system. So, I cannot use this listing agreement. There is also the problem that most MLS systems will not display the listing with the agreement type of Open to any public website.

Do I have to pay a commission if a REALTOR® sells my home?

Yes. If you accept an offer brought to you by a real estate agent, then you will need to pay a commission to the buyer’s agent. When you fill out and sign our "Exclusive Agency to Market in the Realtor MLS" agreement, you are asked how much commission you’ll pay to the buyer’s agent. Most sellers offer a commission of two to four percent of the property’s purchase price. If you are willing to pay a commission, this will be an incentive for agents to help locate a buyer for you because they know they will be compensated for their service. You are required to completeand sign the form: “Single Party Compensation Agreement” upon the request by a buyer’s agent.

e-ListState.com encourages sellers to accept help from all sources. Offering the buyer’s agent a commission, will motivate an agent to locate a buyer for you. And finding a buyer, is afterall, the seller’s ultimate goal.

If I list with you, will Realtors show my home?

Yes. Agents primarily only look at sources where they know they will receive a commission for their service. As a result, agents across the nation look at a local MLS, Realtor.com and newspapers to find homes for their buyers. Realtors have incentive to show your property and help you find a buyer if they are being paid. Seldom will a buyer pay a realtor to find them a home. So, if you want a Realtor to help you find a buyer, you must be willing to pay them a commission for the service. The usual commission is 2 to 4% of the property's purchase price.

How long before my property is listed on Realtor.com?

Usually within 48 hours after we have received your completed paperwork and at least one photograph, your property is entered into the MLS system for uploading to Realtor.com. Realtor.com is a national listing service public website and is viewable to everyone across the nation.

Who does the paperwork involved in selling my home?

When you accept an offer, you have several choices. You can: 1) elect to do all of the work yourself; or 2) do some of the work yourself and hire a real estate attorney to do the rest; or 3) you can request the buyer’s agent act on your behalf by the agent acting as a Transaction Broker or by entering into a dual agency contract. Either way, the choice is completely up to you.

If I handle the paperwork myself, will I be exposed to lawsuits?

All listings come with sellers disclosure statements and forms which you must complete so that buyers are aware of issues about your home and property. You will also be given purchase contracts, forms and other disclosures that you may need. However, there is a well-quoted principle: "When in doubt, don't do it." Although the contracts and forms are not difficult to learn, anyone who is uncomfortable or unfamiliar with filling out the Sales Contract or other real estate papers should not attempt this. Consult a real estate attorney to complete the forms for you. Many attorneys offer a free consultation. You could also request assistance from the buyer’s agent or the Title Insurance Company handling the transfer. Generally, all you need is a good real estate lawyer in the wings, a buyer and a good faith deposit and you are on your way. You should shop around for the best service price as you would for any product.

I know very little about financing. Won’t this prevent me
from selling my home?

You do not need to know or understand anything concerning financing. Leave that to mortgage professionals. Don’t concern yourself with how much the buyer makes, when they became employed, their credit rating, debt ratios or other particulars. Just direct the buyer to a lender who is willing to assist them with the preliminaries. Many buyers today are market savvy and know how much they can afford and what to expect for a monthly payment. Many buyers will pre-qualify before they enter into negotiations to purchase a home. The mortgage industry is forever changing. Specific loans available today may not be available tomorrow. For this reason, real estate agents also refer buyers to mortgage professionals as they, too, cannot keep up with the ever-changing mortgage industry.

If I list with you, who is in charge of selling my home?

You are free to handle the sale of your home in the manner that is most convenient for you. You are in charge, not a Realtor®. The deal revolves completely around you. What we’ve learned from our experiences is that homes often sell themselves. If you attractively present your home, price it fairly and consistent within your area, effectively advertise it and are willing to coordinate the process to make the deal happen, then you will be in a excellent position to sell your own home and save your hard-earned equity. However, e-ListState.com cannot guarantee that you will sell your home. No one can.

Do I need a lock box?

No. A lock box is for the convenience of you and a real estate agent. Agents want access to your home at all times. They may have a buyer that is anxious to see your home. The agent will want to be able to show it to them on a moment's notice. If you do not want an agent to show your home when you are not there, then you do not need a lock box.

Do I need a new insurance policy?

There are insurance policies that will help protect you in the event of robbery, theft, and other situations that may arise during the process of selling your home. Talk with your insurance agent for the type of policies that will be best for you.

Will my property be seen by local Realtors?

Yes. Your property can be seen on Realtor.com, which can be viewed by everyone. But it may not be listed in your local MLS. e-ListState.com will place your property into a local MLS for an additional fee where available. Most local MLS do not operate a public website. Most local MLS websites target other Realtors in the area. The information stored on those local MLS websites are not available for viewing to the public.

Will my property be placed in my local MLS?

Currently, local MLS is available only to our California sellers in most locations in the state. But everyone will be able to see your property on Realtor.com. Most local MLS do not operate a public website. Local MLS websites across the nation upload listing information to Realtor.com so it can be seen by the buyers and agents everywhere.

What is the local MLS?

The MLS was started by the Realtor associations many years ago as a way for Realtors to share information about properties available for sale in a specific geographic area. Later, when computers became popular, the Realtor associations created internet sites to store the same information. Local agents who were members of the local MLS were able to place information into the database and also see what other properties were available for sale. A problem with this method soon appeared as agents who belonged to one local MLS could not see properties that were listed for sale from other local MLS associations unless the agent was a member of that MLS as well. The state of California currently has more than 60 local MLS associations. That’s a lot of local MLS associations to join! Which is amazing when you consider that there are only 58 counties. There is also a lot of expense involved as agents are required to pay a hefty application fee and quarterly dues for each MLS they join. To resolve this problem, the National Association of Realtors created a newer, better way to ensure that agents everywhere know what properties are available for sale in all geographical areas. The Realtor association created the website “Realtor.com”. Properties from the local MLS across the nation upload to this website.

Local MLS databases are private databases. Most of them are not available to the public and they can only be accessed by agents who are members of the private service. A local MLS is like opening up a lemonade stand. No one knows you have lemonade to sell (except for the few local realtors). These websites target local realtors NOT local buyers because the websites are not open to the public. This is the “old” way of selling real estate. We at e-ListState.com believe the information should be available to buyers everywhere.

Many local buyers use the website on the internet super highway which is Realtor.com. Realtor.com is a national listing real estate website and is public. Listing your property on Realtor.com will be seen by the world. Realtor.com is “ where the world shops for real estate online.”

There is also the fact that many of the little local MLS names are difficult to remember. But everyone knows Realtor.com. All too often, a person moving into an area will not know the name of the little local MLS web site, but they do know Realtor.com. Search engines and well-published websites such as: AOL, MSN.com, Netscape.com and Excite.com all use Realtor.com as their source for visitors who click on “real estate” searching for a home. Perhaps you are fortunate to live in an area where your little local MLS is a public site. But what good is this to you in trying to reach the buyers in the rest of the world? Buyers today are mobile. Many move 50 or more miles from their present home. This is often out of the target area of many local MLS sites. The little local MLS sites are not mentioned by the large search engines. Buyers, therefore, do not know the names of the MLS sites. They simply do not have the market exposure that Realtor.com provides owners. Buyers everywhere know that all they need do on Realtor.com is type the city and state, or zip code for the area they want to see and VOILA! a list of “ local” properties magically appears. So, if buyers everywhere are using Realtor.com to find properties, why should the owner pay an additional fee just to be listed in a private MLS? Ask yourself... where do I want to advertise my lemonade stand? On a rural back road... your “ local MLS” or the internet super highway... Realtor.com?!! Sadly, there are agents in some areas who are slow to abandon, old retired ways of doing business and continue to focus on one main source, a local MLS, to find properties for their clients. But the good news is that this trend is changing. Agents are seeing the benefits of the newer, improved way of locating properties and are using the Realtor.com website to see all of the properties available for sale in a geographical area.

Tell me more about Realtor.com

Realtor.com, where the world shops for real estate online , is the official web site of the National Association of Realtors. Ranked as the No. 1 homes-for-sale site, Realtor.com currently offers potential home buyers more than 2 million Realtor-listed homes for sale as well as the most brokers and agents to contact. The site also provides home sellers with the Internet’s largest marketplace to reach a monthly average of more than 5.6 million unique visitors**. Visitors spend more time on Realtor.com than on other real estate sites**. Each visitor spends an average of 52 minutes per month on the Realtor.com Web site**. 75% of all consumers who visit the Realtor.com Web site are looking to move within 50 miles of their home**. If you plan to sell your home,Realtor.com is where your home should be found.

**Source: comScore Media Metrix June 2003

REALTOR logo e-ListState.com logo
e-ListState.com
Leslie Young, Broker
P.O. Box 261 - Volcano, CA 95689

Toll Free Fax: (800) 930-3967

LeslieRae@e-ListState.com

DRE No. 01430215