Disclosure of Listing Broker's Services to MLS
participants by BuyHomes.com LLC
Who arranges for appointments to show listed property? Cooperating brokers are
instructed and authorized to make appointments directly with the
Seller as instructed in the showing instructions of the full MLS data sheet or
yard sign. General questions related to the property are best answered by the
seller. If there are any issues or problems gaining access to the property
(with minimum 24 hour notice), then please contact Corey Scholtka.
Who accepts the delivery/receipt of offers to
purchase? Cooperating brokers are instructed and authorized to deliver offers to purchase directly to
the Seller. Please ask the seller if they have a FAX number, or if you
should FAX the offer to their attorney. You may deliver the offer to the
property or ask the seller to pick-up the offer from your office. In the event
that a cooperating broker is unable to hand deliver the offer or my seller does
not have access to a FAX machine, I can accept the delivery and forward the offer
to the Seller (please note that requires a minimum of 24 hours for the seller
to respond to the offer in most cases).
Who presents/explains the terms of offers to
purchase to the seller? Cooperating brokers are not expected to explain or 'present' the offer to
my
seller. My Sellers have been provided with a
general explanation of offers. If you feel it is in the parties interests
to provide this service then you are authorized. There is no conflict of
interest when brokers practice their 'duties to all parties' in a transaction,
but Buyer's Agents (with a signed WB-36) should refrain from providing
non-clients with any "advice".
Who advises the Seller as to the merits of
an offers? Seller should talk to their attorney or listing broker for
advice related to offers. Seller's Agents legally represent the Seller and may
provide my sellers with "advice" but may also refuse to do so. Buyer's Agents represent
the buyer and must not provide advice to sellers.
...and Who participates on the Seller's behalf in
negotiations? The Seller's attorney or themselves. At the sellers
request I will assist them with any advice regarding negotiations including
recommendations to accept or reject or counter the terms of any offer to
purchase
Who assist the Seller in developing,
communicating, or presenting counter-offers? Sellers usually have an
attorney to assist them with the contracts and any other documents. The seller
may feel they are experienced with the forms enough to complete them on their
own, forms are provided to clients by Listing Broker. Sellers may request
listing broker's advice before completing these forms. If there is any concern
as to the timing, format or quality of sellers proposals then cooperating brokers may
request a review by the listing broker (please note that requires a minimum of
24 hours for the response in most cases).
Who accepts and holds earnest money?
Whereas the the standard offer to purchase indicates that the listing
broker shall hold earnest money, any offer to purchase submitted by a
cooperating broker should designate one of the following to hold the earnest
money: a) the seller's attorney, b) title & closing company, or c) the
Cooperating broker trust account (at the buyers request). ...and Who schedules & coordinates the closing
& orders a title insurance policy?
My sellers have received a disclosure of their responsibility to arrange
for title & closing services and coordinate the closing. Cooperating brokers may
suggest a tile company, please remember to disclose when your broker has a
financial affiliation.
Are there any "Procuring Cause" safeguards?
Yes, BuyHomes.com keeps track whether or not the buyer
has worked with a cooperating MLS broker in any way
regarding the property. I provide Sellers with a sign-in
sheet in order to safeguard Cooperating MLS brokers when an offer to purchase
is brought thru the Listing Brokers marketing efforts..
...How may Cooperating MLS brokers avoid Procuring Cause disputes? a)
instruct your buyers to contact you when they wish to see any MLS listed
property, b) disclose the availability of a specific listing to your buyer as
soon as the property hits the MLS, c) keep accurate records about how & when you told the buyer
about a property, d) report the names of interested buyers with the listing
broker (include the 'agency disclosure' form & notes about how/when
you became
involved) .
Are BuyHomes.com properties really 'by owner'? No, BuyHomes.com listings are 'Exclusive Right to Sell'.
The seller
and cooperating agents are supported by a listing broker who provides more than
just marketing. Like a traditional listing, Sellers are prohibited from displaying "for
sale by owner" (FSBO) yard signs & advertising. My newspaper ads
will
clearly indicate the broker as "BuyHomes.com" and the word
"MLS". The sole exceptions
are 1) when advertising has been placed prior to listing, and 2) the short
timeframe while the seller is waiting for their completed BuyHomes.com yard
sign (and phone number stickers) to be delivered.
FACT: 100% of BuyHomes.com
Sellers offer MLS co-broke commissions between 2% to 3%.
What if MLS Information needs to be changed?
If you have any issue with my reporting of information to the MLS, please
contact me directly, I am always happy to provide assistance or make
corrections.
* BuyHomes.com will intervene if there is any problem or issue.
Corey Scholtka - 414-940-5555
- support@buyhomes.com