FAQ

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Frequently Asked Questions


Table of Contents

  1. What is the Multiple Listing Service?

  2. What is the benefit of putting my home on the Multiple Listing Service (MLS)?

  3. Will Agents show my property even though I have listed through a flat fee company instead of a traditional Real Estate office?

  4. Will my MLS listing be displayed on other Real Estate companies' MLS search feature?

  5. Can I have my direct contact information show on the MLS listing or other sites like Realtor.com?

  6. How long does it take to be listed on MLS and the other bonus sites?

  7. How long does my home stay on MLS Listing System and bonus sites?

  8. Do I have to pay a commission if I find a buyer who is not represented by an Agent?

  9. Will I ever have to pay Omegalistings.com, Inc. a commission above the $299.00 listing fee?

  10. What is the difference between a Buyers Agent and a Facilitator?

  11. How do you provide your service at such a low price?

  12. How do I make changes or revisions to my listing?

  13. What happens once I have accepted an offer?


(1) What is the Multiple Listing Service?

Also known and referred to as "MLS". MLS Property Information Network is the largest MLS in New England, and one of the top ten in the nation. Providing service to more than 29,000 real estate professionals throughout New England with a comprehensive database of more than 45,000 active listings.

 

The MLS is a computerized list of homes currently for sale, this is an exclusive tool only available to members. The MLS is the primary tool used by Brokers and Agents to find homes for their buyers, and for Brokers, Agents and Buyers, it is the only tool they need to find the right home for them. Brokers and Agents search MLS daily to find potential matches for their buyers, thus when new listings are entered they are immediately evaluated by thousands of Brokers and Agents with prospective Buyers, making your property rapidly popular. MLS provides the biggest marketing advantage in selling homes. This kind of exposure to buyers is not available anywhere else!

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(2) What is the benefit of putting my home on the Multiple Listing Service (MLS)?

There is one very significant benefit to having your home listed on the MLS. EXPOSURE to the local pool of real estate agents! The fact that you have your home for sale in the MLS will now be known by the hundreds, if not thousands, of Real Estate Brokers and Agents in your market who are helping buyers find homes.

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(3) Will Agents show my property even though I have listed through a flat fee company instead of a traditional Real Estate office?

Yes. This type of listing is becoming more common everyday and we feel our success speaks for itself; please check our Sold Listings page for actual sales results. Most importantly a Selling agent will still earn the same commission you offer no matter what type of listing it is. If you pay us $299.00 and offer 2.5% as a co-broke rate the Buyer's Agent's office earns 2.5%, if you pay a Full Service company 5%, the Listing Agent's office earns 2.5% and the Buyer's Agent's office earns 2.5%; the only difference is in our compensation, not theirs. Rather than earning 2.5% as the Listing Office we earn $299.00.

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(4) Will my MLS listing be displayed on other Real Estate companies MLS search feature?

Most likely yes, MLS provides each office with a search feature allowing customers to sign up on their individual Real Estate company websites to search listings posted on MLS. Each office is allowed to set up and limit parameters they would like the search to reveal, since their ultimate goal is to sell a home to you. Some examples of the information they limit may include the listing office information, property address, Open House information and listings from other Real Estate offices. Please check with the service you are using to see the information they limit. You may sign up for our free MLS search here, we do not put restrictions on the information shown.

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(5) Can I have my direct contact information displayed on the MLS listing or other sites like Realtor.com?

Yes. Your personal contact information will be listed in MLS for agents to contact you directly. Your information will not appear on 3rd party sites such as www.Realtor.com, www.Boston.com and www.RiLiving.com because those sites prohibit any information regarding the seller/owner to be displayed. When calls come in from sites like Realtor.com, Boston.com etc. we let the caller know they can visit our website anytime for our sellers' direct contact information and we also will give the caller your name and phone numbers. When we are contacted via email we respond to the inquiring party with the seller's name, phone & email and we cc this message to you the seller so you may contact the potential buyer ASAP.

 

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(6) How long does it take to be listed on MLS and the other bonus sites?

During normal business hours (Monday - Friday 9 - 5) once we have received everything we need from you the information will be entered into MLS the same day (if all required information is received prior to 1:00PM, if after 1:00PM it will be entered in to MLS the following business day). Once the listing is on MLS it will then be uploaded to the other sites, usually taking 1 to 4 days for the listing and photo to appear. 

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(7) How long does my home stay on MLS Listing System and bonus sites?

Your property will be active on MLS until your home is sold. MLS requires that we input an expiration date therefore our initial contract period is for twelve months. In the event your property doesn't sell you may extend the listing period as many times as it takes at no additional charge. If at anytime you choose to take your property off the market or want to list with a full service office you may cancel anytime without penalty. The listing will also stay on the Bonus sites until it is changed to Under Agreement, Sold or cancelled at which time it will be removed from the Bonus sites. If you do decide to list with a full service company you may participate in our referral program and we will provide you with full market reports for individual agents in your area and help you choose one. If we refer you to the agent you will receive your listing fee paid to us back at closing. Please ask for more details if interested.

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(8) Do I have to pay a commission if I find a buyer who is not represented by an Agent?

No. You still maintain the right to sell your home on your own. If you find a buyer direct, without the representation of an Agent, you will not be obligated to pay a commission on the sale.

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(9) Will I ever have to pay Omegalistings.com, Inc. a commission above the $299.00 listing fee?

No. Omegalistings.com, Inc. will never under any circumstances be paid any part of the commission you are offering. The entire commission percentage that you have chosen to offer will be offered to Brokers and Agents, not represented by Omegalistings.com, Inc., making your listing more attractive. Some other flat fee companies will keep part of this commission and only offer out half to other Brokers and Agents making your listing less desirable.

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(10) What is the difference between a Buyer's Agent and a Facilitator?

Buyer's Agent & Facilitator are the two different types of agents that may show your property to a prospective buyer. The bold text below contains the official definitions from the Massachusetts Mandatory Agency Disclosure Form.

In short layperson's terms a Buyer's Agent represents the buyer & is working in the Buyer's best interest while a Facilitator is more of a neutral party simply working to put the deal together.

BUYER'S AGENT

A buyer can engage the services of a real estate agent to purchase property and the real estate agent is then the agent for the buyer who becomes the agent's client. This means that the real estate agent represents the buyer. The agent owes the buyer undivided loyalty, reasonable care, disclosure, obedience to lawful instruction, confidentiality and accountability, provided, however, that the agent must disclose known material defects in the real estate. The agent must put the buyer's interests first and negotiate for the best price and terms for their client, the buyer. (The buyer may also authorize sub-agents to represent him/her in purchasing property, however the buyer should be aware that wrongful action by the real estate agent or sub-agents may subject the buyer to legal liability for those wrongful actions).

(NON-AGENT) FACILITATOR

When a real estate agent works as a facilitator that agent assists the seller and buyer in reaching an agreement but does not represent either the seller or buyer in the transaction. The facilitator and the broker with whom the facilitator is affiliated owe the seller and buyer a duty to present each property honestly and accurately by disclosing known material defects about the property and owe a duty to account for funds. Unless otherwise agreed, the facilitator has no duty to keep information received from a seller or buyer confidential. The role of facilitator applies only to the seller and buyer in the particular property transaction involving the seller and buyer. Should the seller and buyer expressly agree a facilitator relationship can be changed to become an exclusive agency relationship with either the seller or the buyer.


(11) How do you provide your service at such a low price?

Since we started offering this service in 2000 we have streamlined the entire process to make things both easier for our customers and more efficient for us. Our original price was $499.00 but due to advancements in our website, including the ability for our customers to completely list and pay online we have significantly reduced our overhead and gladly pass the savings on to our customers.

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(12) How do I make changes or revisions to my listing?

You may request changes or revisions to your listing by simply going to our Existing Customers page. Click here to review our revision policy. Please note, changes made to MLS will upload to 3rd party sites, such as www.Realtor.com, www.Boston.com & www.RiLiving.com overnight so we recommend important changes be requested by Thursday to be sure they are active for the weekend.

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(13) What happens once I have accepted an offer?

Once you have accepted an offer on the property you must inform us with in 24 hours of doing so. At that time you will have two choices of how you would like MLS to be updated:

1) Leave the status a Active but a note will be added to the listing saying you have accepted an offer and are continuing to show the property for Back Up Offers as well. Agents and Buyers will continue to call you to set up showings, the listing will also remain on the bonus sites. If you choose this option you will need to complete this form titled Active Status Request and fax it back to us at 781-323-4118.

2) Change the status to Under Agreement, Agents and Buyers will no longer call you to set up showings and the listing will be removed from the bonus sites.

We will also need to know the following information regardless of which status above you choose:

1) What is the anticipated closing date?

2) If there is an Agent representing the buyers, what is the Agents name and office name?

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