This Mls Listing Agreement Is Made By And Between: Fill & Download for Free

Many news articles have been written about why real estate agents still exist when every other form of middleman (i.e. insurance brokers, travel agents) seem to have been made obsolete by the internet.However, none of these articles seem to shed any light or insight to the problem of how to sell your home yourself in NYC. Moreover, most of these articles are shameless acts of promotion for traditional flat-fee MLS discount listing brokers which has been proven not to work. We believe we’ve figured out the solution, and we’d love an opportunity to tell you our story.So why are real estate agents still around?In a nutshell, it’s because buyers’ agents still control most of the home buyer traffic. Even though well over 90% of today’s home buyers may start their search online, they eventually end up purchasing their home through a buyers’ agent over 80% of the time. In order to access buyers represented by agents, home sellers need a listing (or seller) agent with access to their local interbroker database to offer a commission to buyers’ agents on the database. Home sellers can’t be stingy on the commission offered either to stay competitive with most listings offering 2-3% to a buyers’ agent. Both seller & buyer broker fees (typically 5-6%) are charged by the listing broker and paid by the seller.And because most brokerage databases require the commission split to be equal between buyer and seller agent, you get total commissions still stuck to this day at a hefty 6% of the home sale price (Why are New York City real estate commissions so high?).What’s the typical real estate commission in NYC?Hauseit video tutorialBecause of this inability to effectively engage buyers represented by agents when you sell your home yourself in NYC, most FSBO home sellers eventually end up caving and hiring a traditional real estate broker.Fortunately, we are solving the problem on the sell side and buy side at Hauseit®. We have helped homeowners like you sell your home yourself in NYC and save millions of dollars in commission this year alone. Here are a few top tips on how to sell your home yourself in NYC.Advertise your NYC property on relevant local websitesHaving made the decision to sell your home yourself in NYC, it can be tempting to rush off and buy the first “flat fee MLS” listing package you find on the internet. However, keep in mind many of these sites are not tailored to NYC and attempt to be a catch-all listing service for all 50 states. If you want to properly sell your home yourself in NYC, you’ll need to make sure you’re listed on relevant, popular local real estate search websites such as StreetEasy. If you take a closer look at the listing packages of some “big,” national for sale by owner websites, you’ll notice that they only list you on a number of free, national search websites such as Zillow and Trulia. While those are certainly great and important to be on, you know that you’ll be missing out on many homebuyers who exclusively use StreetEasy in their NYC home search.Now before you rush off and purchase a FSBO StreetEasy listing package separately ($399 for 28 days as of this writing), realize that you could save a lot of money by listing with Hauseit for the same price. In addition to offering StreetEasy, Hauseit’s zero-commission, flat-fee NYC listing service will also list your NYC property on many additional real estate website and, most importantly, submit your listing to the NYC broker databases which include REBNY’s RLS Database, OLR (On-Line Residential – NYC Broker Database), Nestio (NYC Broker Database) and RealtyMX (NYC Broker Database) – all at once!Co-broke on the local NYC broker databases to access represented buyersYou’ve probably heard a few times by now why it’s important to engage buyers represented by agents when you try to sell your home yourself in NYC. Again, before you rush off and buy the first “flat fee MLS” listing package you find, make sure you investigate what “MLS” they are offering to list you in to begin with! You’ll find that most of the big, national for sale by owner websites will just claim to list you in your local “MLS (multiple listing service – another term for a brokerage database affiliated with the National Association of Realtors)” whether you’re trying to sell your home yourself in NYC or Long Island. This is a harmful marketing tactic that preys on the inexperience and lack of knowledge among NYC home owners.There is no point being on a brokerage database no brokers in your locale actually use. In the case of New York City, there is not one, dominant MLS that all brokers use. In fact, the main interbroker databases in NYC are not even affiliated with the National Association of Realtors (NAR). NYC actually has a few critically important broker databases including REBNY’s RLS, OLR (On-Line Residential), NESTIO, and RealtyMX. By being listed across all of these databases, your listing has the highest chance of being picked up by NYC agents who are members of both broker trade associations which operate in the city: REBNY (Real Estate Board of New York) as well as MANAR (Manhattan Association of Realtors).Not only do the various broker associations in NYC use these databases to find properties for buyers, but they also feed their individual listings to them as well. Furthermore, by being listed in these databases it’s also highly likely that your listing will automatically feed directly onto the private brokerage websites of hundreds of member firms in the city. This results in truly comprehensive exposure for your listing, giving you the highest chance of success in finding a buyer.You won’t have to worry about buyer agent members of any specific trade group boycotting your listing. Not only would that be illegal and unethical behavior towards their buyer clients, but it would also be extremely impractical in an age of highly scarce inventory.As you can guess, a Hauseit affiliated broker will make sure to co-broke on your behalf in only your relevant local interbroker database (REBNY, OLR, etc. in NYC, TREND MLS for Philadelphia, etc).How do I use a discount broker in NYC?Hauseit video tutorialBeware of NYC brokers offering a free open listingWhen you sell your home yourself in NYC, you’re bound to get a multitude of brokers asking your permission to list your home for free on a few websites like StreetEasy or Zillow. This is called an open listing, where a broker doesn’t have an exclusive listing agreement with you, but has your permission to advertise it on the web and charge you a commission if they find a buyer. Though it may be tempting to agree because they’re offering exposure for free without any sort of contract, you must avoid this at all costs if you are trying to sell your home yourself in NYC.What they are doing in fact is pirating your buyer leads from your home’s listing on popular websites which you could easily have gotten yourself. It may very well be free to let them post your home on StreetEasy, but it’s going to cost you 3% once they find a buyer there.With Hauseit, we have zero tolerance for buyer lead intermediation. All inquiries are automatically sent to you upon receipt via server level email filtering rules. All that our affiliate listing broker (and ourselves for that matter) is eligible for is the one time flat fee you’ve paid to list through us. Cancel anytime by writing us an email and your listing will be taken down the same day.

I’m trying to make sense of your question. What you’re asking is for the buyer to request their representative agent to give up a portion of their commission to be paid to the listing agent. Why?While commissions are negotiable, they’re already agreed to in the listing agreement between broker and seller. I suppose, if all parties agree, that can be renegotiated but it doesn’t happen the way you are asking it if my interpretation is correct.Here in Texas, once a commission is stated as such in the MLS, the commitment is made and is not to be changed unless it’s changed in writing and all parties have signed off in agreement to that change.

Selling your home For Sale By Owner in Queens is much easier than selling your home For Sale By Owner (“FSBO”) anywhere else in New York City.Queens agents are notorious for refusing to co-broke with buyers’ agents. As a result, FSBO sellers in Queens can get greater exposure than traditional Realtors through a flat fee MLS listing.Read our complete guide to selling FSBO in Queens: Tips for Selling your Home For Sale By Owner in Queens | Hauseit NYCShould I sell with a local Queens Realtor?Absolutely not. Real estate agents in Queens are notorious for refusing to co-broke, or share commission with buyers’ agents.“Sorry, I am not co-broking this listing.”“I don’t co-broke.”“The seller is only paying me 2% percent.”The above are examples of what Queens Realtors say to buyers’ agents who ask about their listings. Unfortunately for sellers who have agreed to pay 6% to these Queens Realtors, their homes are effectively off market as buyers’ agents control roughly 90% of all buyer traffic in NYC.The reason why sellers agreed to pay 6% in the first place was because their listing agents convinced them that they needed to offer 3% to buyers’ agents to be competitive with other listings, and the listing broker needs to make the same amount representing the seller. Ironically, these Queens Realtors have convinced sellers to pay 6% in order to work with buyers’ agents, yet the first thing these scumbags do is refuse to co-broke in the hopes of finding a direct buyer and collecting all 6% for themselves.Not only is this unethical and a violation of a listing agent’s fiduciary duty to their seller client, it is a violation of New York Real Estate License Law. Furthermore, the fact that most Queens listings agents will put in writing that they refuse to co-broke is a testament to the incompetence of most Queens Realtors. Why would you trust your home sale to someone who doesn’t even realize they can lose their license for openly refusing to co-broke?Video Tutorial: How do you Sell your NYC Apartment without a Broker?Are there more direct buyers in Queens?Yes. Ironically because of the widely known refusal of many Queens Realtors to co-broke their listings, home buyers are more likely to be unrepresented in Queens.Furthermore, StreetEasy is less popular in many areas of Queens so buyers will have an easier time contacting the listing agent directly on other popular real estate search websites where there is less agent advertising. StreetEasy and Trulia are both owned by Zillow, and all three websites employ a “Premier Agent” advertising program where home buyers are directed to an agent who has paid to advertise on the website. While it is still possible to contact the listing agent directly, StreetEasy very recently has made it much harder to do so. The easiest and most obvious way to request more information leads you to a random agent who has paid to advertise on a listing.As a result, you are much more likely to sell your home to a direct buyer and save all 6% in broker fees in Queens if you sell your home through a reputable flat fee MLS listing service.Should I sell For Sale By Owner in Queens?Don’t rush out and list your home For Sale By Owner in Queens on the first real estate search website you come across.You will face the same issues selling your home For Sale By Owner in Queens as in the rest of NYC. Just because there are more direct buyers does not mean you can avoid buyers’ agents all together. Your listing is still technically “off market” because it is being boycotted by buyers’ agents.Think about it, why would a buyer’s agent risk sending your FSBO listing to his or her client? That buyer client is worth 3% in commission on any other listing, so why would any sane agent risk that kind of payday? Even if you were to sign a FSBO commission agreement before the showing, the buyer’s agent will still be risk averse and unhappy about dealing with you. At any point, the Realtor’s buyer client can simply search for the address of the property and realize that it’s a For Sale By Owner property. Doesn’t that make it awkward for the buyer’s agent? Suddenly, he’s viewed as an intrusive middleman with a specific amount being taken out to pay him. No buyer’s agent wants to volunteer for that kind of situation.As a result, buyers’ agents by and large take the easier route and show their clients listings by other agents who are offering a co-broke in their local broker database.Lastly, it’s widely known that the only people who search for For Sale By Owner listings online are hungry agents looking for their next seller client and the occasional exploitative real estate investor looking for a bargain.As a result, by listing your home For Sale By Owner on a real estate search website will only result in hundreds of cold calls and solicitations from Realtors hoping to poach your listing. The occasional direct buyer you’ll encounter will unfortunately be a predatory buyer expecting a significant discount because you aren’t paying any broker fees, and this buyer will be hoping that you don’t understand where property is trading in your neighborhood!Should I advertise my home through a flat fee MLS listing?Yes, but do your diligence on which broker database you will be listed on. Many for sale by owner websites claim to list you on your “local MLS” wherever you happen to be, whether that’s Idaho or New York City. This is egregious because the relevant inter-broker database will vary greatly from area to area. For example, there is no relevant MLS for New York City as the city’s largest real estate broker association is called REBNY (Real Estate Board of New York). REBNY runs a private shared listings database called RLS and is not affiliated with any MLS or the National Association of Realtors.Just be careful as you can easily pay up to $1,000 on a flat fee MLS listing package only to find your home listed on a completely irrelevant database such as the NY State MLS or the Hudson Gateway MLS, none of which are relevant for New York City.It’s also important when selling your home For Sale By Owner in Queens to realize that may flat fee MLS listing services are so ineffective that they might as well be scams. That’s because many of these For Sale By Owner websites and discount brokers make it so obvious what they are doing that every buyer’s agent automatically knows that it’s not a real listing.Unbelievably, some For Sale By Owner websites even watermark every listing photo with their logo so that even the most obtuse Realtor will understand that it’s a fake listing.That’s why it’s critical to list through an Agent Assisted FSBO where your property listing will be blended in with the full commission listings of Hauseit’s brand name brokerage partners. Your listing will appear exactly like a traditional listing, and buyers’ agents won’t be able to tell the difference between your listing and other full commission listings.As we’ve learned through years of experience, the only way to get the same full exposure as a traditional broker is to list your home with a traditional broker. The fact that you’re receiving a discreet reduction in commission will be our little secret!How should I sell my home FSBO in Long Island City?Long Island City today is booming with new construction and lots of glitzy new developments offering home buyers “hotel-like” living. As a result, more and more real estate brokerage firms from Manhattan have entered the Long Island City market and now it is firmly in REBNY territory. As a result, it’s critically important that your property listing be included in the RLS to get full exposure to buyers’ agents.Because Long Island City is covered by REBNY and because REBNY co-broking rules are strictly enforced, it’s extremely important when selling For Sale By Owner in Queens to make sure you’ve purchased a flat fee MLS listing package that will get your home in the RLS.Selling For Sale By Owner in Long Island City will be no different than selling FSBO in Manhattan. Represented buyers will account for 90% or more of the total buyer base and you’ll need to learn how to deal with buyers’ agents. Fortunately, through Hauseit’s List Your Home Online listing option, you can post your property on the RLS plus dozens of popular websites such as StreetEasy, BrownStoner, Zillow, Trulia, Homes.com Dream. Discover. Design. Your Home. and more all at once!Disclosure: Hauseit and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.