Ask Brihat

Ask Brihat

1.     What is the Multiple Listing Service (MLS)?

The MLS is a database of homes for sale. Agents use the MLS to find homes for buyers that they represent. Listing a home on the MLS notifies all local agent and brokers that your home is for sale. Owner of the property, real estate agents, brokers and realtors can list property for

sale on the MLS.

2.     How does the MLS Help me to Sell My Home?

Real estate agents use the MLS almost exclusively to search for homes for their clients. Over 80% of buyers are represented by agents, so it is a "must have" if you want to reach the most buyers and receive the most offers. In other words, if you don’t list on the MLS you'll be missing out on reaching 4 out of 5 buyers.

The truth is most sellers' agents don't go looking for buyers; they simply list a house on the local MLS and then talk to the buyers' agents who find them there. You can use this same professional tool and save 3% in seller agent commissions. Call if you have more questions. We are happy to explain the process step by step.

 

3.     Is it Difficult to sell without an Agent?

Thousands of people sold their home by owner and saved thousands in commission. It does require some planning and work, but it's not complicated. If you use the tools and support we offer including our seller’s checklists and handbook, you can sell as good as a professional. In the end you care more about your sale and know your property better than any agent.

Call us if you have any questions about how it works or what to do next. Although our agents place the listing on the MLS for you, calls and inquiries from interested buyers will be deal by the agent and once the deal will be finalized then agent will directly contact to you for processing transaction.

 

4.     How does listing on MLS Help me to Sell my Home?

 

MLS is largest real estate Listing system and the most important resource the public uses for finding homes. By listing on MLS your property is guaranteed the widest exposure with access to millions of house hunters across the country. It is a key element in any serious home selling plan.

5.     How Much Does Listing on the MLS Cost?

Listing your property on sale is absolutely free. You pay certain percent service fee after selling the property..

6.     What is the Length of the Listing Period?

 

Listing period is two to six months.

 

7.     What is the Role of Listing Agent?

 

All the necessary listing forms will be provided by our Agent. They can be emailed, faxed, mailed and in some cases completed online. Once an order is placed, the information will be forwarded to the local agent who will contact you to review the listing details.

8.     Who Handles the Paperwork?

 

We have a valley wide network of experienced agents who will support to handle paper work to list in MLS.

9.     Are there Any Seller’s Agent Commissions?

 

No, if the owner itself listed in MLS.

 

Yes, if incase listed through agent to place your home on the MLS. You have to pay a seller agent fee of 1% to 2% of selling price of the listed property to seller agent if the property sold in the period mentioned in the contract agreement.

10.  Are there Buyer's Agent Commissions?

Yes. If an agent sees a listing and brings a buyer, you must pay the buyer's agent a commission if you accept the offer. You decide how much commission to offer as part of the MLS listing process. The commission you're willing to pay is stated on contract of MLS listing. It is NOT negotiated on an agent by agent basis. We recommend offering a commission from 3% to 5% since your listing will be competing with others for agent's attention.

 

11.  What if I Find a Buyer Myself? Will I have to pay any commissions?

No commissions are owed if you find a buyer on your own but need to pay delisting charge of amounting 25% of buyer agent fee that is mentioned in contract agreement

 

12.  Whose Phone Number is on the MLS?

The MLS listing will display contact of Brihat Investments, customer support

 



13.  How Soon Will I Be Listed After I Sign Up?

An agent from MLS network will call or email within 2 - 4 business hours (excluding weekends) after an order is placed. The agent will send all the forms required to complete the MLS listing. Once these forms are completed and faxed or emailed back to the agent, the listing will be on the MLS within 24 – 48 hours (excluding weekends). Orders placed on Monday can easily be listed by Wednesday. However, orders placed Thursday or Friday may not be listed until the following week. Once listed on the MLS, it takes 1 – 2 business days to upload a listing in website.

 

14.  How Many People Will See My Listing?

 

……………approximate customers of The ……………………, the daily national newspaper will see the properties listed in MLS. Besides daily national paper's customer of Brihat Investments also sees the MLS

15.  What about Photos?

Upload digital photos of the exterior and interior of the house. If necessary, hard copy photos can be scanned but will slow down the process. Photos need to be saved in a .jpg file, ideally 640 x 480 pixels. Email the photos to BI agent. Number of photos allowed on the MLS is two to three

 

 

16.  Can I Get More Help from the Agent?

 

Almost all the agents in BI network will provide additional services including contract review and closing support. Extra services are available with additional fixed fee (valuation, maintaining, cleaning etc). If you are interested in extra services, please call us at ……………..for assistance.

 

17.  Can I use a Yard Sign?

 

Yes, “House for Sale” signs are allowed even listed on the MLS.

 

 

18.  What if I want to list a Rental on the MLS?

To list a rental property on the MLS call us or simply order the MLS listing and include your rental details. Make sure to specify the monthly rent as the price. When our representative contacts you, let them know that you would like to list your home as a 'rental' instead of a 'for sale' property. They will make sure it is listed correctly on the MLS.

 

19.  Is this the only Multiple Listing Service (MLS) for Real Estate Marketing Agent (REMA)

 

Yes, this is the MLS that REMA use. They use the MLS almost exclusively to find homes for their clients.

 

20.  Do REMA show buyers homes not listed on the MLS?

 

Yes, REMA are paid by splitting the commissions paid by sellers. Most REMA will primarily show properties that are listed in MLS and have a stated commission split listed on the MLS.

 

 

21.  How do I cancel my MLS order?

 

As long as your property has not already been listed on the MLS, you may cancel your order. To cancel your MLS order, call BI customer support ………………….. You will be able to speak to a person during normal business hours. After hours, you may leave a message when prompted and we'll call you back.  

22.  Do I have to sign a listing agreement with an agent?

Yes, you are required to sign an agreement with BI- REMA in order to list your property on the MLS. However, this is to protect the terms and conditions you are paying for; and to offer a cooperative commission to any agent that procures a buyer for you.

And keep in mind that you always retain the right to sell your home for sale by owner and are not obligated to work with a buyer represented by an agent.

 

23.  Am I able to cancel my listing and sign up with a full service agent?

Yes, you may cancel your listing in writing to agent anytime during the 6-month listing with no further obligation.

 

24.  Who should I speak with for questions regarding my MLS listing?

 

You should speak with the listing agent assigned to you. If you need their contact information, you may call Brihat Investment customer service and we will be glad to give you that information.

 

25.  What are the documents require for listing in MLS

1.     Copy of Ownership certificate and registration (likhat)

2.     Copy of Bhawan Nirman Sampana

3.     Copy of latest house tax clearance receipt

4.     Copy of Recent Land Revenue Payment receipt-

5.     Copy of Naksha pass 

6.     Copy of Citizenship

7.     Copy of detail floor plan-

8.     Mortgage documents if mortgage in bank

9.     Property photo ( front elevation, Interior of drawing, kitchen, bedroom) – one each