MLS
and Realtor® Questions
Is
this the same Multiple Listing Service (MLS) to which all area Realtors®
belong?
Is the MLS the best way to rent my
property?
What is included with my MLS
listing?
Will Realtors® show and rent my property even though
I went flat rate?
Will Realtors® show and rent my
home, apartment or condo if I am not listed with their company?
Will Realtors® call you or me?
How long should I expect to be on the
market?
How long is the listing period?
Am I locked in for the
full 3 month listing period?
What if I am working with an agent?
Compensation/Commission
Questions
What
is the difference between a "renting agent" and a "listing
agent"?
Do I still have to
pay a "renting agent?"
If I find my own tenant, will I still
have to pay a renting commission?
If you don't charge commission, how do you
make your money?
Materials
and Vendors Questions
Should
I have a lockbox?
I have my own sign, why should I use yours?
What services do vendors supply?
May I use my own exterior photo on
the MLS?
How does the additional photo option
in the MLS work?
How do I return your
materials?
How do I get
the free forms and contracts you offer?
Listing
Questions
Do I have control over all
listing information?
Can I add any specifics later?
How do I make changes to my listing?
Realtor.com
website Questions
What
is the difference between public internet sites, such as Realtor.com, and
the MLS?
Can
I go to a website and see my MLS listing?
How long will it take for my MLS listing
to appear on the public internet sites?
Can you edit public web sites?
Will my contact information appear on the public websites?
Lease/Processing
Questions
Are you
involved with the lease contract?
Are you involved in negotiations?
What is included in your processing?
Is there an additional charge for this processing?
General
Questions
What is
expected of me once I list with you?
Once you receive my paperwork, how long will
it take you to list my home in the MLS?
Can I later list my property with another Real Estate agency?
How do I pay for my MLS listing?
Do you provide tenant credit reports?
What is the general
sequence of events after listed?
Is
this the same Multiple Listing Service (MLS) to which all area Realtors®
belong? Yes. All participating MLS Realtors® belong to
their local association of Realtors®. We will place you in the proper MLS
for your area with which we are affiliated. Back
to the top.
Is the MLS the best way to rent my property? It's
extremely successful. Realtors® work only with qualified tenants
with current credit reports. Back
to the top.
What is included with my listing? The
listing text and an exterior home color photo provided by you, and public internet site
listings such as Realtor.com. Click here
for your area. Back to top.
Will Realtors® show and rent my home, apartment or condo even
though I went flat rate instead of paying a high commission? Yes.
There is no way to tell how much you paid to get on the MLS. Regardless of
whom you listed with or what you paid, your listing will look no different
from any other listing in form and style. Back to the top.
Will Realtors® show and rent my home, apartment or condo if I am not
listed with their company? Of course. The very purpose
of MLS is for Realtors® to rent each other's listings. Back
to the top.
Will Realtors® call you or me? You.
Realtor® custom is to call before showing your home. Applications will be
promptly transmitted. Back to the top.
How long should I expect to be on the
market? Your home should rent quickly if it is priced right, is in a
good location and shows well. Our listings will create the drama and
excitement necessary to draw maximum attention to your home. Back
to the top.
How long is the listing period? Listing
periods are in 3 month increments. You may shorten or lengthen the listing period as you wish. Additional 3 month periods are available at option of the parties for $75.00. Most
properties are rented within the initial 3 month period. Rarely is a second period
needed. Back to the top.
Am I locked
in for the full 3 month listing period? No, of course not.
This is just a marketing period giving us authority to advertise your
property. Many properties are rented within the first few hours or days
of being listed. You always retain control of your listing and can
extend or shorten the duration as you wish (see the Listing Agreement for
further details). Back to the top.
What if I am working
with an agent? If you are in a contractual
arrangement with any other broker or your property is currently listed for
rent with another broker, this is not intended as a solicitation of your
business or that listing. We honor and respect relationships with other
brokers. Otherwise, we will be happy to list your property and find a
qualified tenant. Back to the top.
What
is the difference between a "renting agent" and a
"listing agent"? A renting agent is the real estate agency
who actually rents the property. They are sometimes called tenant-agents. The Listing Agent is the real estate agency who lists your
property for rent in the MLS. Back to the top.
With your plan I understand that I am saving commission on the
"listing" side of things going with a flat rate, but do
I still have to pay a "renting agent?" Yes. Any Realtor®
bringing a ready, willing, & able tenant with a satisfactory lease will be due a small "renting" commission of your choice.
The recommended amount is 25% of 1 month's rent. However, once you
begin to list your property, you will be able to choose any other amount you
like. Back
to the top.
If I find my own tenant, will I still
have to pay a renting commission? No. If you obtain the
tenant with no agent being the procuring source, there is no commission.
Back to the top.
If you don't charge commission, how do
you make your money? We operate on extremely high volume.
Chances are, your neighbor rented their property through us. We can supply
scores of references. We do not make house calls or hold open houses, so
our time is devoted to producing only the highest quality listings and
passing the savings on to you. Back to the top.
Must
I have a lockbox? No, but
Realtors® are on a fast track and depend heavily on them for quick
access. Realtors® show many homes within a very short period of time and
your properties cannot be rented without access. We strongly recommend a Realtor®
lockbox in all MLS areas. Signs are also recommended as a major marketing
tool. Back to the top.
I
have my own sign, why should I use yours? We
recommend that you replace your sign with our agency sign upon going in
the MLS. A For Rent By Owner sign specifically excludes Realtors®
and that is not your intent. When driving down streets, agents
look for the agency signs rather than house numbers.
When seeing your own For Rent sign, agents may think that the
listing agent has “lost” the listing & consequently they will not
be paid a commission.
Our agency sign reassures Realtors that your home is actively listed for
rent on the MLS. Back
to the top.
What services do vendors supply?
MLS and Internet services (other than property photos, which are provided by you) are provided by the MLS and other 3rd party vendors. Therefore schedules and services are approximate and subject to availability and change without notice. FedEx shipping charges apply to marketing materials. Back to the
top.
May
I use my own exterior photo in
the MLS? YES! You will be able to submit your own photo(s) after being listed. Once your listing is in the system, you may upload them to us from a site we will provide. All photos will be copyrighted by the MLS system and will not be returned to you. Photos are usually uploaded and will appear in the MLS system within 1 business day.
Please
Note: DO NOT email us your photo(s). Once listed, you will receive a confirmation email from us with instructions on how to upload them to us from your personal web page. Back to the
top.
How does the additional photo option
on the MLS work? If you choose this option, you may send us
up to 6 photos of your home, apartment or condo to appear in the MLS system
(you will be emailed instructions once listed). One photo must an exterior, front view of the home, however, the others may be of
anything you wish: master bedroom, kitchen, deck, pool etc. With
this option, you will be able to show potential buyers from all over the
world just what your rental has to offer. Back to the
top.
How do I return your materials?
All materials are the property of Clark Select Properties, Inc, and
are to be returned at your expense within 10 days following lease or
termination of your listing. The return address label will be in your
FedEx. shipment. Sign posts are taken down once rented or at the end of
the listing. Back to the top.
How do I get the free forms
and
contracts you offer? A link to all of the forms and contracts we
offer can be found on the personal web page you will receive once your home is
listed. Back
to the top.
Do I have control over all listing
information? No. The MLS arranges required information according to
multiple choice templates. We cannot customize. Back
to the top.
Can I add any specifics later?
Possibly. We input only required fields. If you wish to add information in
non-required fields (room dimensions, sq ft, etc.) you may do so by
written amendment after listing. We will provide the form, there is a $20
editing fee. Back to the top.
How do I make changes to my listing?
You may make multiple changes to your listing at any one time for a small
fee of $20.00. After listed, you will receive instructions via email. Back
to the top.
What
is the difference between public websites, such as Realtor.com, and
the MLS? Public
websites like Realtor.com only display thumbnail sketches of listings
which they receive directly from the MLS itself. Realtors use
only the MLS system, which is a closed system
linked to their offices. They do NOT use the public internet sites. Back
to the top.
Can
I go to a website such as Realtor.com and see my MLS listing? If
you are in the Northern Virginia, Maryland or D.C. area (MRIS system) you
may go to Realtor.com to view a paraphrased version of your listing. This
is NOT your actual MLS listing. Unless you are a licensee and MLS member,
you cannot access the MLS to see your actual listing. The MLS is a
closed proprietary system for Realtors only. You may request a copy of
your actual MLS listing from us once listed. Back to the
top.
How
long will it take for my MLS listing to appear on the public internet
sites? Once your listing is entered into the MLS system,
it appears instantly to Realtors. However, depending on your area,
and as long as you are in the Northern Va, Maryland or D.C. area, it
may take anywhere from 2-7 business days before your listing will appear
on Realtor.com. Back to the top.
Can you edit public websites? No.
The MLS has partnership arrangements with public sites and provides a
photo and text according to their templates. Sensitive owner’s
information such as name address and phone number is omitted. We have no
control over public sites and cannot edit them. Back to the
top.
Will
my contact information appear on the public websites?
No. The public internet sites, such as Realtor.com are aligned with the
MLS and are designed to drive leads to Realtors. They do not
allow your name, address, telephone numbers or other personal information
to appear. We cannot override their partnership arrangements.
We will, however, forward any leads received through the public internet
sites directly to you via email. Your name and number, of
course, will appear as the contact information in the MLS system and
agents will call you directly for showings and presenting leases. Back
to the top.
Are you involved
with the lease contract? Your listing is more than just an
ad, it is an actual MLS listing in the Realtors® Multiple Listing
Service. To save on commission, you will handle details of the lease
yourself. Back
to the top.
Are you involved with negotiations?
No,
you will
handle all showings, inquiries and lease agreements on your
own. Realtors will bring all lease applications and credit report information directly to you. We will provide you with an "Under Lease" form for us to process.. Back
to the top.
What is included with your processing? As the listing broker, we must maintain records, communicate with the renting agency and make status changes to the MLS system. We will need information about the lease from you when you sign the lease. We do not handle lease negotiations or walkthrough. Back
to the top.
Am I charged for this processing?
No, there is no charge. We simply need a required form which we will provide you (see next paragraph).
Back
to the top.
What is
expected of me once I list with you? We are a licensed real
estate agency and have many laws and regulations we need to comply with.
In turn, there are laws and regulations you will also need to comply with.
1. To make any changes to your
listing it is required that a Withdrawal form be used. A link
to the form will be provided to you on your personal web page once listed.
2. Within 48 hours of a Lease
being signed by you, we will need 1) A completed Under Lease form. A
link to the form will be provided to you on your personal web page once
listed. Back to the top.
Once you
receive my paperwork, how long will it take to list my home in the
MLS? Depending on the time of day, listings are usually inputted
into the MLS system the same business day everything is received. Back
to the top.
Can I later list my home with another Real Estate agency? Yes, of course.
But remember that all Realtors are on the same MLS system, so
you will wind up in the same place. You
may withdraw your listing at any time from the MLS system by simply using
our Withdrawal form (provided to you once listed).
A full release of the Listing Agreement will occur when the Listing
Amendment form is received and any outstanding monies are paid. Back
to the top.
How do I pay for my MLS listing?
The initial listing plus any marketing materials is paid for at the time of listing, any subsequent changes or fees incurred are paid for when requested. Back
to the top.
Do you provide tenant
credit reports? The rental agency will run a credit report
on the prospective tenant to help you make a decision. There is a nominal charge to the tenant, but
never a charge to you. Back
to the top. What is the general sequence of events after listed? The
following is not guaranteed, but is a general time line of events:
-
Listed in MLS: Upon receiving
all information and depending on the time of day, your home is usually
placed in the MLS the same day.
Photography: Subject to some conditions, photos that you submit are generally uploaded within 1 business day.
Photo in the MLS: Property photo appears in the MLS system immediately upon our uploading.
Lockboxes/Signs: If ordered,
you should receive them by FedEx. within 2 business days.
-
Sign post up: Sign Posts are
usually installed in 1-3 business days.