Frequently Asked Questions
Here is a collection of frequently asked questions that I have put together to help you in selling a home. If you have any other questions, not listed here, feel free to call or send an e-mail.
Flat Fee Clients
How do I cancel my MLS listing?
You can cancel your MLS listing two ways: The first way is to log into your ByOwnerOregon.com account then under the "MLS Listing Management" you will see a drop down menu. Click on the drop down and select "Cancellation Request". The second way is to click on the "Contact Us" link on the left hand menu bar. The click on "Support". Then select the "Cancellation Request" from the drop down.
You can also click on the following link to access the "Cancellation Request" form: Click Here
Once you submit the cancellation request form we will cancel the MLS listing typically within 24 hours and e-mail confirmation to you.
How do I change the status of my MLS listing after I accept an offer?
You can update the status of your MLS listing two ways: The first way is to log into your ByOwnerOregon.com account then under the "MLS Listing Management" you will see a drop down menu. Click on the drop down and select "Status Update". The second way is to click on the "Contact Us" link on the left hand menu bar. The click on "Support". Then select the "Status Update Request" from the drop down.
You can also access the "Status Update" form by clicking on the following link: Click Here
Once you submit the "Status Update Request" form we will update the status of your MLS listing typically within 24 hours and e-mail confirmation to you.
How do I make a change to my MLS listing?
You can make a change to your MLS listing two ways: The first way is to log into your ByOwnerOregon.com account then under the "MLS Listing Management" you will see a drop down menu. Click on the drop down and select "Change Request". The second way is to click on the "Contact Us" link on the left hand menu bar. The click on "Support". Then select the "Change Request" from the drop down.
You can also access the "Change Request" form by clicking on the following link: Click Here.
Once you submit the change request form we will make the change to your MLS listing typically within 24 hours and e-mail confirmation to you.
How soon do I have to process the "Status Update Request" form after I have accepted an offer?
You have 24 hours to process the "Status Update Request" form.
If the status of the MLS listing is not updated timely the local MLS association can issue a $250 fine that will be passed on to the home-seller and paid out of closing.
I have accepted an offer now what?
We have prepared a sample Transaction Flow Process page for you to refer to.
You can access it by logging into your ByOwnerOregon.com account then under the "MLS Listing Management" you will see a drop down menu. Click on the drop down and select "Transaction Flow Process".
You can also access it by clicking on the following link: Click Here
I see that you have a link to open escrow with Lawyers Title. Do I have to use Lawyers Title as my escrow company.
No you do not have to use Lawyers Title. We recommend them because they are very familiar with Limited Representation listings and understand that we do not sign a lot of the documents with this type of transaction.
You are welcome to use which ever Title Company you choose, you just need to let them know that this transaction is a Limited Representation listing. Make sure they have our e-mail address because they do need to send us the transaction documents for our files. firstname.lastname@example.org or email@example.com
If I find that I need help after I accept an offer do you have a service option I can purchase to have a real estate broker represent me?
Yes, you can purchase Agent Assistance Package that includes the help from a licensed agent or you can have us represent you like a traditional real estate agency relationship at a reduced commission. You can view some of the a-la-carte options on our "Options Menu": Click Here
After I order a Flat Fee MLS package, how long does it take for my listing to be input into the MLS?
We typically have your MLS listing input into the MLS within 2 business days of receiving the completed MLS Data Input Form and signed Limited Representation Agreement. (Depending on the backlog of orders at the time)
Can I cancel my listing at any time?
You can cancel the listing at any time by providing us with written instructions to do so (assuming there is not a contract pending on the property involving a buyer who was procured by a cooperating broker). There are no termination fees or other penalties in the event that you wish to cancel your listing. However, no refunds will be provided after the subject property has been listed by our broker.
Do I have to pay a commission to an agent that brings the buyer?
Yes. Real estate agents do not work for free. To be listed in the MLS, you must advertise a commission to the agent who represents the buyer (aka cooperating broker) . If a real estate agent presents an accepted offer and it goes to closing, you must pay the commission advertised in the MLS listing. The commission is paid at the close of escrow.
Do you assist me when I receive an offer on my property?
No. Under the Flat Fee MLS listing program, our services are strictly limited to listing the property in the MLS. If you feel that you need assistance in interpreting or determining the merits of a purchase offer, conducting negotiations, completing the required disclosures and inspections, or otherwise moving your transaction to settlement, we recommend that you obtain professional representation.
How can you provide this flat fee listing service so inexpensively?
With advances in technology, realty agents are able to do in one hour today, what would have taken ten times that five years ago. This has led to the advent of “Flat Fee MLS Listing” or “Discount Listing Brokers” and real estate companies throughout North America that offer the similar services as traditional brokerages, with the resulting reduction in costs being passed on to you, the home owner. Home sellers everywhere are retaining higher equity in their homes by refusing to pay high real estate commissions. We provide professional flat fee listing services which can save you thousands of dollars on the sale of your home.
How do I make changes to my listing?
You can make as many price changes or status changes as you need. To request a change to your MLS listing just click on the "Client Support" menu option on the left side menu bar and select "Change Request".
Other than price or status changes you are allowed three listing changes or modifications free of charge. Any additional will be made at a charge of $25 per change.
If a buyer calls you about our property what do you do?
We refer all buyer leads directly to you. If a buyer calls and says they are represented by and agent, we suggest they have their agent call you and set up the showing. If a buyer is not represented at this time, however expresses that they wish to be represented by an agent to see your home, the listing broker may show your home.
If I find a buyer with no agent, do I still pay a commission?
No. You are free to sell the property to any buyer not procured or represented by a cooperating broker, in which case no cooperating broker commission is due.
Is your flat fee listing fee refundable?
Must I have a lockbox?
No, but Realtor'sŪ depend on quick access. Realtor'sŪ show many homes within a very short period of time, access to your home may make a difference. We strongly recommend a RealtorŪ lockbox.
What is the difference between my local MLS and Realtor.com?
Do not confuse Realtor.com with the Realtor MLS. They are two separate systems, and Realtor.com is operated by MOVE, Inc. Realtor.com downloads property data from the hundreds of local MLS’s and makes that property data available to the public.
The MLS advantage is that every single broker and agent participating in the MLS has an incentive to sell your home, effectively putting every agent in the area to work for you! The first place a buyers agent looks is always the MLS, so there’s simply no better way to gain instant and widespread exposure for your home.
What is the MLS?
The MLS (Multiple Listing Service) is a cooperative listing service among licensed real estate agents and brokers. Members of the MLS input detailed information regarding properties available for sale into a database that is distributed to all participants in the MLS. All members of the MLS have a right to show/sell an advertised property and are promised a commission should they present an offer that results in the successful sale of an advertised property. The vast majority of home sales are made through participation in the MLS.
Why would I want my property listed in the MLS?
As a For Sale By Owner, your exposure to potential buyers is limited. Your choices for advertising are generally confined t yard signs, newspaper ads, for sale by owner and classified websites, open houses, and word of mouth. This is often not enough to attract buyers, most of whom are working with agents. Real estate agents consider the MLS as the inventory of homes to sell and use it to locate properties for their clients.
Will my contact information be displayed?
On the MLS, yes it will be displayed for agents so they can contact you directly for showings. In some cases your broker may also be able to post your email address. On “public” websites, such as Realtor.com or Zillow.com, only the brokers contact information is allowed to be displayed. The reason for this is because the MLS has rules about what information is allowed to be syndicated to 3rd party websites. Neither you, nor your broker can do anything about this, and these rules are strictly enforced.
Will my property be listed on the internet?
Yes. Your property will be listed on Realtor.com and most other popular real estate websites (websites vary depending on syndication feeds from your local MLS). These internet listings will give you national exposure to all home buyers. Since hundreds of people move to other states daily, this exposure can be a vital component in selling your home quickly and for the best price.
Note: All Oregon listing plans include the Realtor.com “Showcased Listing” upgrade.
Can I offer the Moving Package to prospective home buyers that are interested in my home?
Yes, you can share the Moving Package with your prospective home buyers. They would just need to register for the program and decide to use Primary Residential Mortgage for their home loan. Primary Residential Mortgage will provide you with marketing materials to help you promote the offer.
Can I qualify for the Moving Package if I am selling my home and buying another one?
Yes, you can qualify for the Moving Package if you use Primary Residential Mortgage for your home loan on the home you're buying. Click here to register!