These types of agencies usually have slight variations in their niche however it's usually common that they will put your home in the mls and you must do everything else yourself to market it or take it to closing if an offer comes in. You should also offer a percentage to get a buyers agent to show it or listing is useless anyway.

You can only be the listing agency if the property is listed at the agency where your license is. If you are a referral ageny, under no circumstances can you be the listing agent because your contract probably stipulates that you will ONLY operate in the capacity of giving referrals.

Do you pay for Errors and Ommissions insurance? If not then it is not likely you can work with clients, if you can, your agency is taking on a huge liability.

Good Luck

--
Victor Kaminski
Broker of Record
Marivic GMAC Real Estate
2056A Lincoln Hwy. (Rt.27)
Edison, NJ 08817-3330
Office: 732-650-9911 Ext.302
Cellular: 908-884-5757
Toll Free: 1-866-745-GMAC(4622) Ext.302
http://www.MarivicRealty.com
http://www.realrep.com/
(MIDDLESEX MLS SEARCH) http://search.victor.msx.mlxchange.com/
(GSMLS SEARCH) http://www.gsmls.com/
(Monmouth/Ocean MLS) http://monmouthoceanmls.com/victor
http://www.homes.com/Agent/4243382/victorkaminski

Thanks to both of you , and I'll let you know what happens!
I like that Local Market commentary you have on your site , Jeanne, very informative. I wish someone in Ocean Twp would do that. Nice site.

Jani,

Good choice and best of luck to you with the sale of your home!
Gina Chirico, Sales Associate
Prudential New Jersey Properties
973-239-7700 ext 132
973-715-1158 cell
GinaChirico@PruNewJersey.com

Hi Jani, Jeannie here - I think you are making the best decision. And yes, price it right and it will sell. Here is a little tidbit I'll share with you. We are finding that of homes sold, 80% were either brand new listings or had recent price reductions that brough them to their strike price. Although the time it will take for your home to sell cannot be predicted with absolute certainty, what is certain is that the greatest excitement for your home is when it is fresh and new to the market. Pricing too high then is an opportunity lost. From my experience as well, homes priced right from the get go fetch more, not less, in the long run.

To estimate the time to sell, you can do a market absorption calculation - you'll more information at my website http://www.feenick.com Just click on Local Market Commentary.

How about rewarding our honesty and good advice with a thumbs up!

Good luck to you!

Best,
Jeannie Feenick
Search and connect at http://www.feenick.com

Hello all,
Thanks Gina and Jeanne for those honest answers.
Yesterday, I called an agent that I know from my agency, and she's coming over tomorrow to list the house for me.
I don't think that I can list it myself, being on referral, although I called the local realtor assoc. to see if that's true.
I do appreciate your advice, and since I really do want to sell now, I think that this is the best way. I feel like I've spent to much energy trying to buck the system, and for what? Anyway, wish me luck, I think that pricing the house is the most important thing, so I hope we come up with a good price. It's a great house, I think that if we can get it out there with the right price it will sell.
regards,
Jani

Jani,

Thanks for the clarifications and although Jeanne counted on a thumbs down for her response, I actually agree with her. You are absolutely doing a dissservice to the profession and to yourself should you list with a flat fee company. Since you are a referral agent, I'm assuming you do not realize the impact these flat fee companies have on our business and to list with one - is almost like a slap in the face to us realtors. I guess I may be the one with the thumbs down now.

But you should check with your broker to determine their policy on listing your own home. PNJP also gives us an allowance for that.

Good luck.

Gina Chirico, Sales Associate
Prudential New Jersey Properties
973-239-7700 ext 132
973-715-1158 cell
GinaChirico@PruNewJersey.com
Again, if you are not happy with your office, change offices. PNJP has an office down your way, if you are interested in setting up an appointment/interview, contact me directly.

Hi Jani, if you are unhappy with the firm with which you "hang" your license, change firms. But as a Realtor, you must value the services we offer. I will likely generate a healthy does of thumbs down for this, but I think you will be doing a disservice to the profession and to yourself if you go the route of flat MLS and FISBO. I can't help thinking what does this say regarding your core belief of the value that Realtors add to the process. And incidentally, I think that you can't help but have a carry over affect from potential clients in your community if they see you go that route.

I say change firms, get yourself with a firm you respect and then proudly put that sign outside of your home and get on with it.

Good luck to you!

Best,
Jeannie Feenick
Search and connect at http://www.feenick.com

Hello, and thanks to you all for your diverse answers. Sorry I didn't make myself clear in my question, and Keith seems to have nailed it.
I am a Realtor, on referral, and it's my own home I am selling. I have sold homes in the past, as an agent, and also by myself ,fsbo, and have been keeping up with the market in my town. For that reason, I thought I would try to do it FSBO, and wanted to know if you thought the MLS listing services were worth it.
I am advertising on the internet, and locally, and wanted to use the MLS as another advertising tool.

But, I didn't consider that you are mostly agents, and have your own agendas. I totally understand. The reason I didn't want to list with my agency is that it has been merged with another one, and I'm not so crazy about the new one.
But, you're right, I should talk to the broker and see what the agency policy is about listing as a referral agent, if that's even possible.
Thanks again, sorry for the confusion.
jani

Jani
As you can see, you may need to clarify your question.
Let me see if this helps:
You are a Realtor
You own some property, you want to sell it, however you also want to make as much net profit as possible, so you are considering listing it with a flat fee MLS entry only broker. Is that right?

A couple of thoughts, assuming the above scenario is correct:

1. Market expertise is king. What you don't get with an MLS Entry only is a Realtor that knows the market and can get your home priced correctly. Overpriced homes are not shown because the other local Realtors know value, and you need 10-12 showings in the first two weeks or so to get an offer, on average. Homes that sell in the first 30 days sell closest to asking price, so you do not want your home to accumulate market time.

2. Most brokers will accommodate sales by associates. In my firm we are allowed TWO sales a year of properties we personally own. No fees. I will also say that we never sell our own property. If we did our Errors and Omissions insurance will not cover us. This varies from broker to broker. Find out what your broker's policy is.

3. You know that saying that "an attorney who represents himself has a fool for a client"? Same applies to Realtors. You need an objective, third party, with excellent negotiating skills to sell a property for top dollar. Even if you did list it with an Entry only MLS, you should have someone else be the "listing agent'

So, to sum up, I would be very difficult to convince that using an MLS entry only broker is your BEST solution. If you have property that is perhaps in your state, but not in your MLS area, then my question is "how well do you know the market"? And if I have to ask you that question, please do not be offended, but it would seem to me that you might not have a lot of experience, or perhaps the right training.

If it were me I would:
1. Get the advice of my broker
2. Contact a broker in the area of my property, and get a referral to the top agent in that area.
3. I would negotiate a fair referral fee, and have them take care of it.

Jani,

I'm a little confused by your question as well. Are you selling your own home residence?

In any event, I definitely agree with Barbara, you get what you pay for and that is absolutely nothing for a flat fee. If you are a referral agent, you should definitely list with your company. Not sure if you can actually be the listing agent because you are referral status and assuming you have not paid the necessary fees and insurance to keep your license is active status. You would definitely need to check with your broker/manager regarding that. I'm not sure if anything is stopping you from referring to an outside broker - by why would you do that? You should keep it in your company.


Good luck.

Gina Chirico, Sales Associate
Prudential New Jersey Properties
973-715-1158 cell
973-239-7700 ext 132
GinaChirico@PruNewJersey.com

Frankly if you are very comfortable showing, discussing and negotiating your personal property then it’s not the craziest idea. You’re actually asking why hire a realtor? MLS is a small part of the equation. Along with MLS, there are dozens of places your home NEEDS to be to compete effectively in this market for top sales price. From photos chosen to represent your home to the details of knowing what to say or NOT to say can be critical to a sale or the loss of one. You’re hiring someone for their expertise in marketing, negotiating, staging and knowing the ins and outs of the legal & binding document/the contract and the assorted addenda, how to deal with the other agent (there will likely be one that’s going to be working for their buyer, not you) and what you as a seller are responsible for and what to watch out for. You pay someone to go through and explain these items to keep from making a financial mistake that could cost you many times more than the fee a professional may earn. So, listing in MLS on your own can work- but there’s a reason most people don’t do it… like every other profession, when we do it well it seems effortless to everyone else- Good luck.

We are a flat fee listing agent, clients prefer this program is allows the seller offer buyer agent/buyer incentives compete with new builders. We market and promote these homes as if they are full 3% listing agent fees. All listing you personally secure need to be with your broker. However you can refer listing to other agents, those listing be under their broker.
http://www.lynn911.com http://www.homes-for-sale-dallas.com

You get what you pay for -- and that pays for nothing but listing on the Internet. Would you work for $395? I wouldn't!!! I have picked up three listings in the last two years from owners disgusted with themselves for trying the "discount broker" route. Go for full service -- and yes, if you are a referral agent, absolutely stay loyal to your own company as long as they are in the area of the listing.

Jani,
I am a little confused as to what you are asking. If you list a home for sale it is listed with the firm with you as the agent. In NC real estate law while you manage the listing and are the agent the contract is actually with the "firm". Flat fee brokerages generally just provide little if any support and simply put the home in the local MLS. They then get no commission and their work is done.

Hope this helps,