WHAT IS THE MLS? 
A multiple listing service (MLS) is an effort among real estate brokers to share data on homes for sale and to cooperate with and compensate each other for assisting with the sale.  MLS's create the most comprehensive, computerized database of homes for sale in the real estate community.  The majority of property sales are directly related to MLS exposure.  When you see a home for sale on any real estate website, that information most likely came from the MLS database, the tool real estate agents use. 

How long can my property be listed on the MLS?
The listing is good for 12 months, with an option to cancel at anytime.  If you wish to continue the listing when the 12 months are up, you can purchase a 3 month listing extension for a fee of $75.00.  A listing extension form must be signed and returned to Mink Realty 5 days prior to the expiration date of your original contract date.  If your listing expires before we receive this form, all new forms must be completed and you will be charged a $300 RE-LIST fee.  The Re-list is basically a new 12 month listing contract.

Will my house be listed on the REALTOR.com web site and others?
Yes!  REALTOR.com is the largest on-line property listing site with more than one million five hundred thousand available houses nationwide.  Your home will be listed within 24 hours of your home being input into the MLS system.  You home will also be listed on many other national real estate websites such as ReMax.com, Seminon.com  and many more.  The MLS feeds these websites automatically.  Mink Realty does not have control over these other websites as far as how many photos they use from the MLS.  


If I sell my home 'on my own' how much will it cost me?
If your home is listed with Mink Realty and you find a Buyer (that is unrepresented by an agent), that wants to purchase your home, Mink Realty will write up the purchase contract for the buyer, negotiate between the buyer and the seller till we have an accepted contract.  Mink Realty will also assist with the home inspection, title company and get you from contract to closing and additional 1%.  This includes buyers that attend your open house, family members or friends.  

Will my listing be different than other listed properties paying a full commission?
No!  Listing your home with Mink Realty will appear exactly the same as any other listing.   Our Showing Service helps with this because agents won't have to contact the seller directly.  Real Estate Agents would prefer to deal with other agents or a showing service rather than contacting the seller directly.

Is it true that if I try and sell my home FSBO, an offer 3% to the selling agent, that agents still will not show my home?
Yes, this is true.  Most real estate agents only look on the MLS when searching for homes to show their buyer clients.  They do not look at FSBO homes.  Therefore even if you offer 3%, it will not be shown near as much as if it were listed on the MLS.  Most agents won't even be aware that your home is for sale unless it is listed on the MLS.

Can I still use my FOR SALE BY OWNER sign if I list my home with Mink Realty?
No, it is a MLS rule that only the brokers for sale sign can be placed on the listed property.  All FSBO signage must be removed from the property once the home is listed with Mink Realty or any other Real Estate Company.  Any fines that are incurred as a result of a FBSO sign being present on a listed property will be the sellers' responsibility.

How long does it take to get my house in the MLS?
Typically, we can have your home listed within 48 hours after we receive payment and all the listing forms are completed, signed and returned to us. 

How long does it take to get the YARD SIGN & (lock box -if ordered)? 
Within 48 hours after getting your home listed on the MLS our Mink Realty yard sign will be delivered and installed in your yard and a lock box will be placed on your door.  There is a $25 deliver fee.  If you wish to pick up the sign and lock box from our office you can save the deliver fee.  

How do I know the MLS information is correct?
We will e-mail YOU a copy of the MLS listing for your approval.  It is your responsibility to review the listing to ensure that everything is correct.  Any requests for changes will be made immediately.  This is your listing and we want to make sure it is listed exactly how you want.  There is a $25 MLS change fee for any changes to your listing once you have approved.  This includes price changes, Remarks changes or photo changes.

When you enter my listing in the MLS, is there a special number to identify my property?
The MLS assigns a specific number so Realtor's can easily identify your property.   It's called a MLS number.

If a REALTOR sells my home do I have to pay that REALTOR a commission?
Yes.  As stated in the listing contract, sellers must pay a commission to that selling agent.  Most sellers offer a commission of 3% but up can offer anywhere from 2.5 - 3 percent.  Once the Listing Contract is signed by you, that commission is NOT negotiable.  Neither You nor I CAN ask the other agent to lower their commission at any time. 

What telephone number will be on my MLS listing?
Mink Realty's phone number will be on the MLS listing.  Real Estate Agents with Buyers will call our Showing Service to set up all showing appointments on the seller's home.  Agents will not contact the seller directly.   This is a more professional approach and agents like using this service rather than talking to the sellers directly.  

What telephone number will be shown on Realtor.com and all the other real estate websites?
Mink Realty's phone number will appear on all the real estate websites.  Buyers that  view your home on a real estate website that do not have an agent will contact Mink Realty.  Mink Realty will  forward those calls to you so you can showing your own home and save you on the commission.  If the buyers wants to purchase your home, I will write the offer and help with negotiations and It will cost you an additional 1% commission to Mink Realty.  This would be considered "Dual Agency" where Mink Realty would represent both the buyer and the seller.  If you would prefer Mink Realty to show your home for you we will do that and it will cost you an additional 3% commission to be paid at closing.

Who will be handling all the showings my home?
Most of the time, Real Estate agents with buyers will show your home.   At times buyers that do not have an agent will contact Mink Realty and request to see your home.  I will forward those calls to you and have YOU show your home to the potential buyer.  If that buyer ends up purchasing your home, you owe an additional 1% commission (since you showed them the home).  If you would rather have Mink Realty show your home, we can do that.  If Mink Realty shows the home, then the seller would owe 3% commission to Mink Realty, just like they would any other real estate agent.   
 
Should I use a lock box on my home?
Yes!
  It is much more convenient to have a lock box on a listed property.  That way you don't have to make arrangements for showings.  Mink Realty offers two types of lock boxes.  A SUPRA "electronic" keybox is a device that holds a key to Seller's home.  Only licensed real estate agents, appraisers and home inspectors have access to this device using a SUPRA E-KEY.  The SUPRA keybox can email you when an agent opens the lock box to gain access to your key.  You can order a SUPRA keybox at our on-line store for a $75.00 fee.  You can also use a combination lock box.  This is a lock box that can be opened using a combination code.  That code is given to the showing service and they provide this code to agents that request a showing on your home.   You can rent a combination lock box for us for $30.00.   You can also purchase your own lock box from Home Depot.  If you decide to do this, please give us the combination code so we can set that up with the showing service.

CAN I PLACE AN AD IN THE COURIOR JOURNAL FOR MY SUNDAY OPEN HOUSE?
Sure, however Mink Realty MUST be listed in the ad since your home will be listed on the MLS.  This is a Kentucky State law.   You may have your phone number listed so potential buyers can contact you directly. Click here for CJ pricing and contact info to place an ad.  Sending e-mails to your family and friends is the best marketing you can do.   Also, Mink Realty can advertise your OPEN HOUSE on the MLS and save you the CJ AD fee.  Just send us the date and time of your open house 3 days prior and it will be input into the MLS.

Am I required to use the Showing Service?
Yes!  Mink Realty provides a Showing Service for all our listings.  A Showing Service is much easier on both the Seller and the Real Estate Agent as the Showing Service has staff manning the phones 12 hours a day so you don't have to worry about missing a call from an agent wanting to show your home.  The Showing Service phone numbers are well known to the Buyer’s Agents and is very convenient for them to use.  

How Many Photos of my home can be used?
Up to 50 photos can be provided and placed on the MLS system.  Not all websites will display all 20 photos.  REALTOR.COM displays a maximum of 35 photos.  Each local website decides how many photos they will display.  

What area does this flat-fee service cover?
Mink Realty's Flat-Fee MLS Listing Services are available in the following counties: Jefferson, Oldham, Spencer, Shelby, and Bullitt in Kentucky and we now offer services in Southern Indiana.  We are working on coverage in other cites so stay tuned or ask about your county! 

Can I pay less than 3% to a Buyer’s Agent?

While there is no “standard commission rate”, the prevailing market rate on just about 99% of all listings is 3%.  Mink Realty is a Buyer agent- friendly company and prefer any Realtor not to use a "less than standard commission rate" as an excuse for not showing your house a client.   However if you show your own home to a buyer that is not represented by a real estate agent, it will only cost you 2% commission.
 
Will I continue to get ongoing support even after my home is listed on the MLS?
Absolutely!  You will continue to receive ongoing support till your home is sold and closed. I will send you information via email throughout the listing process.  Please check your email frequently!  Anytime you have a question, feel free to email or text me.  
 
What happens once we receive an offer on our home?
We will notify you immediately once we receive an offer on your home.  We will then forward the offer to you via email for you to review.  Once we discuss and determine how you want to respond to that offer, we will write up the response and send you a "Click to Sign" email from Authentisign.  This allows you to sign in to a secure website and simply "click" to sign your name as an electronic signature.  Both husband and wife signatures (if applicable) are required therefore we will need two different email address for signing purposes.  After we have the counter offer or response signed, we will forward that response to the buyers' agent.  This process may have to be completed several times during the negotiating process.  Once all parties agree with the terms of the offer, you have an "accepted offer".
 
Can I have my phone number on the Yard For Sale Sign?
No, All of the Mink Realty For Sale signs have our office phone number.  Our signs can't be altered in any way.
Donna Mink
Donna Mink
Broker