FAQ

Q. What is the Multiple Listing Service (MLS)?

The REALTOR® MLS is the primary database used by Realtors® to market and sell property. The MLS is an exclusive database of all of the properties "listed" for sale in the regional area of coverage. This database is generally owned and used exclusively by REALTORS® and provides them with information about all of the available properties for sale. REALTORS® use this system to cooperate on the sale of each other’s listed properties and share in the commissions.

Q. Is the MLS the best way to sell my home?

The MLS is statistically, by far, the best way to sell your home. The MLS accounts for roughly 75%-85% of home sales nationwide and is the most effective form of advertising used.

Q. What does every Badgerland REALTORS listing include?

• The most comprehensive advertising campaign available through the Multiple Listing Service (MLS).
• FREE Market Analysis
• Worldwide Internet exposure on the top websites via LIST HUB (Google, Yahoo, AOL, Zillow, Trulia, and many more)
• National Association of Realtors® web site: http://www.REALTOR.com/ "SHOWCASE LISTING"
• MLS public web site: WiHomes.com, WisconsinHomes.com
• DIGITAL PHOTO GALLERY-up to 25 photos
• CUSTOM REFLECTIVE "FOR SALE" SIGN: The best in the industry.
• Access to most State of Wisconsin approved real estate forms.
• Custom Information Data Sheets

Q. How do I handle Contract Negotiation and Closing Preparation?

Most Sellers takes advantage of our "Full Service" Package. We will handle the entire process for you the same as a traditional agent. With our "Limited Service - By Owner" package you handle the entire process on your own. Contractual and closing paperwork can be done by a Title Company and/or Attorney.

Q. What s the difference between "Full Service" and "Limited Service"?

In the eyes of the MLS and Realtors Association, the difference is determined primarily by whether or not the Listing Broker sets up showings, presents and negotiates the Offer to Purchase, and coordinates the closing. Most Flat Fee companies choose to be "Limited Service" companies because they don’t perform one or more of those duties. At Badgerland, both options are available.

Q. Do Realtors show "Limited Service" listings to their Buyers?

Theoretically they should. In fact, according to the Realtor Code of Ethics they are required to. But in reality the MLS has made it easy for them to weed those properties out of their Buyer searches. While experience tells me that most agents do what is in the best interest of their Buyers, I think we all know what sometimes happens in reality.

Q. Will Realtors® show my home if it’s not listed in the MLS?

Possibly. Realtors® typically have a lot of MLS listed homes to show their buyers . The advantage of MLS listings for Realtors® is that compensation to them has been predetermined. In order for a Realtor® to show your non-MLS property they have to either negotiate a contract with the you ahead of time or have an Agency Agreement with their buyer. Either way, it’s an extra step in the process that may not be taken.

Q. Who shows my house if the buyer does not have an agent?

With our Limited Service ByOwner package, you show the buyers the house.

Q. Other than Badgerland’s flat fee, will I have to pay any commission when my house sells?

As opposed to most other companies, Badgerland utilizes "Variable Commission" contracts. At the time of listing, you predetermine a "Co-Broke" commission and state it in the MLS. Historically, this commission ranges between 2%-3% of the sales price. If a Realtor®/Broker procures your buyer, that Broker will be paid according to your predetermined "Co-Broke" commission.

If the buyer does not have a Realtor®/Broker, and you show them the property, you do not owe a "Co-Broke" commission.

Q. What if a buyer calls me or stops by the property with questions and later wants a 2nd showing through a Realtor® or submits an Offer prepared by a Realtor®?

Keep good notes on who you talked to and when you showed them the property. If you can prove that you negotiated the property or showed the property to the Buyer first you have a legitimate claim to procuring cause.

You may also want to let that Buyer know upfront that you have a "Variable Commission” contract. Tell them that you can avoid higher commissions on the sale if there is not another Realtor® involved. Both parties may benefit in this case.

Q. How long is my Badgerland MLS Listing Agreement?

Your Badgerland MLS Listing Agreement can be as long or as short as you want - typically our contracts are for 12 months. You may cancel your listing in writing at any time. Should we reach the expiration date of the contract, you may extend for another 12 months for FREE. Unlike many other companies, we do not charge an extension fee.

Q. What if I am currently listed with a REALTOR?

MLS rules prohibit us from contacting you. However, you may contact us anytime to begin the process. That way your new listing can begin the moment your current listing contract expires or is canceled. The paperwork can all be done in advance so you don t lose any precious time at all.

Q. How long does it take for my new listing to appear in the MLS?

Generally speaking, your listing will appear in the MLS within 24 hours and on all the other websites the next day. Sign installation takes 1-4 days depending on where you are located.

Q. Must I use a Lock Box?

No. It is not necessary to use a lock box. However, a lock box can make access to your home more convenient for you, the Realtor®, and the buyers. A lock box is included with our Full Service Package.

Q. Can I use my own interior/exterior photos for the MLS?

Absolutely. Both interior and exterior digital photos can be emailed directly to us.

Q. How does Badgerland’s RISK-FREE, MONEY-BACK GUARANTEE PROGRAM work?

If the term of your contract expires or you terminate early, you may choose to relist with an Agent from an unrelated company who is part of the Badgerland Referral Network. The company which this agent works for has already agreed to pay Badgerland a referral fee upon the successful sale of your property. Upon receiving the referral fee, Badgerland agrees to reimburse you for the upfront fee you originally paid to us.

Upon your request, Badgerland will provide you with an up to date list of Agents within its referral network. In order to receive your refund, it is mandatory that you choose an agent on the most recent list.

If you prefer to use an agent who is not part of the Badgerland referral network, it is still possible to receive a refund. Badgerland must agree in writing with the Broker of the office you choose to list with prior to signing a listing contract with them.