FAQs for Brokers
Thanks to all of the real estate agents who have sent sellers our way over the years. Six percent of our customers are referred to us by agents or have been agents themselves. MLS4owners.com can help if you have a friend, neighbor or client who does not have enough equity to afford full service representation. We do not create an agency relationship with the seller, so you may feel free to communicate with the seller without violating and agent/client relationship. If you have a buyer client who wants to sell the home on their own, MLS4owners.com can get them into the system. This will comply with the terms of their purchase while also giving you an opportunity to bring in buyers for their home.
DOES MLS4OWNERS.COM COMPETE WITH BUYER AGENTS?
No. We bring many homesellers into your multiple listing service, creating new opportunities for you and your buyer clients. Our customers are happy to work with you, for they share your goal - to get homes sold! Member brokerages have helped our sellers close more than $600 million in sales, and members have earned over $15 million on the sale of listings that would otherwise be FSBOs.
We are determined to be the best at filling the niche for those sellers who do not wish to work with a full-service agent, and our track record reflects that goal. Please remember that solicitation of active listings and disparaging comments about our services may be a violation of The REALTOR® Code of Ethics and state licensing laws.
WILL THE SELLER PAY A COMMISSION?
Our advertising agreements include a statement that the seller will pay a selling office or buyer agent fee if the buyer is represented by an agent. The fee is set by the seller and is disclosed in the MLS database, and by MLS rules is non-negotiable.
MAY AGENTS CONTACT THE SELLER DIRECTLY?
Yes, feel free to talk directly to the seller for all questions, showing appointments, presentation of offers, and disclosure forms. You will not violate an agency relationship by doing so. Of course, REALTORS® should not solicit our sellers, as they have an existing agreement with MLS4owners.com, and soliciting the seller would be a violation of licensing law, MLS rules and REALTOR® Code of Ethics.
WHAT HAPPENS ONCE THE PURCHASE AND SALE AGREEMENT IS SIGNED?
In compliance with MLS rules, the buyer's agent should email MLS4owners.com so we can update the MLS database. Please include your office's MLS number so we can give you and your office credit for the sale.
DOES MLS4OWNERS.COM REFER BUSINESS TO OTHER REALTORS®?
Sometimes our customers' needs change and they need full-service real estate representation. In those cases we create a win-win-win situation. We can refer those customers to members of our referral network. When you sell the property and have a valid referral agreement in place, the customer will receive at closing a rebate of their MLS4owners.com fee.
You get introduced to a motivated seller (who likely would have been a FSBO), we collect a customary referral fee, and the customer recovers their investment while being serviced by a full-time, full-service real estate professional. Everybody wins!
If you would like to receive referrals, please email us with your area of interest and contact information.
DOES MLS4OWNERS.COM WORK WITHIN THE INDUSTRY?
Yes! We are members of our local, state and national REALTOR® associations. Our broker Chris Nye was appointed a 2009 member of the Board of Directors of the Seattle King County Association of REALTORS®. He also serves on the By Laws Committee of the Northwest Multiple Listing Service and as a panelist for NWMLS arbitration hearings.
NWMLS RULES COMPLIANCE
MLS4owners.com customers are listed under NWMLS Rule 4(e). They sign NWMLS Form 1B — Exclusive Agency Sale and Listing Agreement. Under Exclusive Agency, sellers offer a commission to agents who procure a buyer, while retaining the right to sell to unrepresented buyers.
We comply with all MLS rules and we encourage members and subscribers to contact us immediately if you perceive that a customer has committed a violation of an MLS rule. We will clarify or correct any rules issue, but we cannot help you if you do not contact us. Of course, the seller is in the best position to answer questions about the features of the property, so questions of that nature should go directly to the seller.
Our sellers have a "customer" relationship with us, as opposed to a "client" relationship. We comply with all aspects of RCW 18.85 and 18.86. We are not a party to the transaction and do not represent the seller or the property. We do not maintain a transaction file and collect no commission at closing.
TIPS FOR WORKING WITH OUR CUSTOMERS
Please contact the seller directly for all questions, showing appointments, presentation of offers, and disclosure forms. You will not violate any agency relationship between us and the seller, and by working directly with the seller you can ensure a fast and efficient transaction for your client. MLS4owners.com does not negotiate or participate in purchase and sale contracts, so you do not need to send us copies of contracts. However, when you have a mutually-accepted purchase and sale agreement, please email us so we can update the MLS records and give your office credit for the sale (please include your MLS office IDs). For the protection of our customers, we are not able to make status changes without written or email notification.
For your protection, all of our customers sign an agreement stating that they will pay a commission (SOC) to members of the MLS who bring them the buyer whose offer they accept. This amount is disclosed in the MLS record for the advertised home, just like any other broker listing.
ANY TIPS ON AVOIDING ANTITRUST ISSUES?
The real estate industry has put out several good pieces on how to avoid anticompetitive behavior. Among them are:
I LIKE THIS BUSINESS MODEL. MAY I COPY IT?
Welcome to the category! But first, a few words of caution. MLS4owners.com® and Real Estate Mumbo Jumbo® are protected under laws of the United States Patent and Trademark Office. The content of this website, including the Self Service Realty name, plus all of our forms, agreement and text, were created by MLS4owners.com and are our copyrighted property. Do not infringe on these trademarks or our copyrighted materials as we have and will continue to vigorously defend them.