What is the (MLS) Multiple Listing Service and why would I want to use it? What happens when you list with a traditional REALTOR®? What is BonaFide Realty offering? Why would you want to list my home if you're not going to receive a commission? How will my MLS listing reach millions of buyers? What is your coverage area? or How do I know which MLS system to use? Where can I go to view a sample of BonaFide Realty listings on Realtor.com? I heard another sales agent say flat fee MLS listings do not work. How did J. McShea save over $29,000 by listing with BonaFide Realty? Why are your Flat Fee MLS Package prices so low? Why are REALTORS® telling me to use another MLS system? Are there additional charges to make changes to my listing? How many photos are allowed in a listing? How many forms do I have to fill out to get my property listed on one of the NJ MLS? Can I advertise open house on Realtor.com? Who handles the showing and calls from potential buyers? How do I attract buyer agents if I’m listing "by owner"? Is it possible to find a buyer who's not working with an agent? When does a seller have to pay a commission fee? How come you don’t have many listings on Realtor.com? Do other real estate companies hate your business model? Why should I choose BonaFide Realty over another NJ flat fee MLS provider? I DON'T have a PayPal account. Do I have to register for one? I DO have a PayPal account but I don't want to use it for my purchase. What do I do? Can I list my property in MORE THAN ONE or MULTIPLE MLS systems? Do you offer DISCOUNTS if I have more than 1 property to list? GENERAL NJ MLS QUESTIONS AND ANSWERS What is the (MLS) Multiple Listing Service and why would I want to use it? The Multiple Listing Service, also known as the MLS, covers a specific geographic area and is a member only system containing local real estate sales and market analysis, public and tax records, and most importantly used to MARKET, ADVERTISE and uniformly NOTIFY other members that a home or property is for sale. REALTOR® members working with homebuyers are either notified or search the MLS system to find homes that meet their clients needs. Studies and statistics show that homes listed on the MLS sell much faster than any other form of advertising. However, when working with a "traditional" REALTOR®, the homeseller must agree to pay a sales commission (averaging between 5%-6% of the sale price) to list with the REALTOR® and place the home in the MLS system. In turn, the homeseller's REALTOR® offers to split the commission with the homebuyer's REALTOR® upon presenting a ready, willing and able homebuyer to the homeseller. This "traditional" method of real estate transaction is still used today BUT did you know...if you find a buyer who is not working with a REALTOR® you are still obligated to pay your agent the sales commission you accepted prior to placing your home on the MLS? This is also known as an "Exclusive Right To Sell Agency Relationship". Does this seem fair to you? We didn't think so and this is where BonaFide Realty comes to the rescue! NJ BY OWNER HOMES LISTED WITH BONAFIDE REALTY! WE'RE LOCAL in New Jersey and not a referral company. For a small flat fee, we provide home selling solutions known as Flat Fee MLS Listing Packages. All of our packages advertise your home in the same MLS system used by REALTORS® and brokerages except WITHOUT THE HIGH COMMISSION COST. The flat fee is considered the commission to BonaFide Realty as your "Transactional Broker - Exclusive Agency Relationship" and the ONLY commission due is to the homebuyer's REALTOR® IF AND ONLY IF a REALTOR® brought you a ready, willing, and able homebuyer. In this case, you only pay the homebuyer's REALTOR® a portion of the commission - usually 1.5% to 3%, which is one-half of the amount you would have paid if you listed with a "traditional" REALTOR®. It gets even better......in our "Exclusive Agency Relationship", if you find a homebuyer OR sell your home through some other method and the homebuyer is NOT represented by a REALTOR® then you PAY 0% COMMISSION.....SAVING YOU THOUSANDS!!! READ WHAT OTHER NJ HOME SELLERS ARE SAYING! More than 95% of all MLS systems in the United States participate and share their property listings with REALTOR.COM, the #1 National Public Website for MLS systems. In NJ, 100% of all MLS systems participate with REALTOR.COM among other local websites that also share listings from various MLS databases. But not all MLS systems are the same, so be sure to check out the MLS Coverage Area page and find the MLS System for your geographic location. Once your home is listed with BonaFide Realty, all of the real estate agents in your area will be notified that your home is on the market and for sale. Your property details and photos will reach millions by being listed in the MLS and top real estate public websites as REALTOR.COM, YAHOO.COM MSN.COM, MOVE.COM, TRULIA.COM*, BONAFIDEREALTY.COM, REALESTATE.COM, REMAX.COM, WEICHERT.COM, AND MANY MORE FIND OUT HOW TO GET STARTED AND START SAVING! What happens when you list with a traditional REALTOR®? When you use a traditional real estate agent, the property is put for sale in the Multiple Listing Service (MLS) where you pay a commission of 5% - 6% to the agent. The agent then offers to split the commission with the buyer’s agent. The commission is the agents' incentive for the sale of your property. What is BonaFide Realty offering? Our services are the same as other agents except without the high commission cost. We offer MLS Listing packages that will allow you to list your property in the same MLS as other real estate brokerages but for a small flat fee and you decide how much commission to pay the buyer's agent. Additionally, we also offer many other home selling solutions customizable to your home sale. Why would BonaFide Realty want to list my home if they're not going to receive a commission? The flat fee is considered the commission. How will my MLS listing reach millions of buyers? Your listing will appear on Realtor.com, Trulia, Move.com and many other real estate websites. Additionally, your listing will be easily found on many other search portal like, but not limited to Google, Yahoo, MSN, etc... What is your coverage area? or How do I know which MLS system to use? Click to view our coverage area and available MLS systems. It is only necessary to list on one MLS system in order to be listed on Realtor.com and all other affiliated websites. Where can I go to view a sample of BonaFide Realty listings on Realtor.com? To view all our Realtor.com listings simply Click Here. I heard another sales agent say flat fee MLS listing do not work? Ask them, "Than what is the most cost effective way of advertising to millions of home buyers and agents without having to pay a high commission fee, if any?" How did J. McSchea save over $29,000 by listing with BonaFide Realty? A buyer's agent who found J. McShea's listing on Realtor.com brought him a buyer. He purchased one of our MLS packages and choose the option of paying 2.5% to the buyer’s agent. Why are your Flat Fee MLS Package prices so low? The market conditions are not helping anyone and by working together we can help one another. Upholding to our mission statement which has always been to provide valuable and exceptional service at the cost of saving the consumer money. Why are REALTORS® telling me to use another MLS system? They most likely want you to list with them. Selecting a smaller MLS system limits your exposure to agents only within that smaller system. However, when selecting a MLS system with a larger coverage area, you increase your exposure to include agents outside your local coverage area thus being one of the reasons you are deciding or decided to list your property flat fee. Ultimately, you're interested in obtaining the maximum, yet cost effective, exposure for your property, right? Well each REALTOR® has to subscribe to a MLS system to search for properties but did you know that NOT every REALTOR® is subscribed to ALL MLS systems? Each MLS system requires membership fees and dues, and the cost to subscribe to all the MLS systems for an individual agent can be excessive. On the other hand, their brokerage office most likely is subscribed to ALL the local MLS systems. So when an agent has exhausted a search in their local subscribed MLS system, they seek additional support from their broker to search a larger or different MLS system. What does this all mean for you? Well, we expose your property to the MLS system covering the largest area to essentially maximize your exposure. When an agent approaches you about this, simply ask them, how did they find you in the first place? Check out our Coverage Area! Are there additional charges to make changes to my listing? No, there are no additional charges for updating your listing. As a way for us to stay informed, we encourage periodic updates. The only time there is a charge is if there is a complete over-haul of your listing. How many photos are allowed in a listing? Our QUICK MLS listing package allows up to 6 photos, however you have the option of including up to 25 photos. See our NJ Flat Fee MLS Packages for more details. How many forms do I have to fill out to get my property listed on one of the NJ MLS? You will need to complete a Standard Flat Fee Listing Agreement, Seller Property Disclosure, and Property Profile Sheet. NJ Flat Fee Multiple Listing Service Forms: Please mail or fax your forms to:    BonaFide Realty    1266 Hamilton Ave    Trenton, NJ 08629    PHONE: 609-394-7776    FAX: 201-441-3555 Can I advertise open house on Realtor.com? Sure you can and we encourage it. Who handles the showing and calls from potential buyers? This is entirely up to you. Our Flat Fee MLS Packages enable you to stay in control of showings, buyer inquiries and all negotiations. However, if you don't have the time or are overwhelmed with showings and calls, we have a solution that's right for you! CLICK HERE to view our additional services or feel free to EMAIL US for further information. How do I attract buyer agents if I’m listing "by owner"? When listing on the MLS and Realtor.com it is automatically assumed that you are willing to work with real estate agents. You may offer a commission to an agent who brings you a buyer that purchases your property. The average commission is between 2-3% of the listing price but you may offer any amount. Is it possible to find a buyer who's not working with an agent? Yes this is very possible and happens all the time. Here is a statistic; according to the "2007 NAR Profile of Home Buyers and Sellers" over 80% of buyers search the internet as part of their home search. When does a seller have to pay a commission fee? Commission fees involved with an MLS listing depend on the outcome of the sale of your home. If an agent sees your listing and brings you a buyer, you will have to pay a buyer's agent commission (you decide what they get paid), but only if you accept that offer. If you find a buyer yourself, you will not have to pay any commissions. How come you don’t have many listings on Realtor.com? Because we are relatively a young company but quickly flourishing. So any donations are greatly appreciated :-) Do other real estate companies hate your business? It’s a love, hate relationship. They hate us because we acknowledge that the cat is out of the bag. While buyers rant, "Why list with an agent for 6% when I can gain access to the same material for a fraction of the cost". They Love us because they get compensated when they bring you a buyer. Why should I choose BonaFide Realty over another NJ flat fee MLS provider? Because if you don't we're both losing money! Still not convinced? CLICK HERE and read what others had to say about our services. I DON'T have a PayPal account. Do I have to register for one? NOPE. You are not required to have a PayPal Account or sign up for a PayPal Account in order to purchase a Flat Fee MLS package. BonaFide Realty uses PayPal as the credit card merchant to process the credit card transaction. PayPal does not keep any user or credit card information on file except for the details of the purchase. After selecting the Flat Fee MLS package, you will be taken to PayPal's website where you simply click on the "Use your credit card"; as illustrated below. Once your credit card is approved, you will be redirected to BonaFide Realty with complete access to the forms and our Member Only Area. I DO have a PayPal account but I don't want to use it for my purchase. What do I do? No problem! You are not required to have a PayPal Account or sign up for a PayPal Account in order to purchase a Flat Fee MLS package. BonaFide Realty uses PayPal as the credit card merchant to process the credit card transaction. PayPal does not keep any user or credit card information on file except for the details of the purchase. After selecting the Flat Fee MLS package, you will be taken to PayPal's website where you simply click on the "Use your credit card" link; as illustrated below. Once your credit card is approved, you will be redirected to BonaFide Realty with complete access to the forms and our Member Only Area. Can I list my property in MORE THAN 1 MLS system? Absolutely! In some cases, there is an overlap between the territory included and covered by the different MLS systems. We list a property on only one MLS, even if the property is in an area served by two or more MLSs. However, you have the option of being listed in multiple MLSs for an extra fee of $99.99 per additional MLS regardless of your original Flat Fee MLS Package type. If you're unsure which MLS is right for you, we list your property in the most frequently used MLS system in your area. Check out our Coverage Area! Do you offer DISCOUNTS if I have more than 1 property to list? Absolutely! We offer HUGE SAVINGS to real estate investors who own more than 1 property. First, select your Flat Fee MLS Package of choice that best interest you. Secondly, add this Discount Listing Package to your shopping cart to match the additional properties you want to list. So if you have 3 properties to list and you are interested in the Preferred Listing Package, then in your shopping cart, you should add 1 Preferred Listing Package and 2 Discount Listing Packages. Upon completeing your order, ALL of your properties will have the Preferred Listing Package exposure, saving you even more! (Complete Listing Package excluded) Click for more information.