WHAT IS THE MLS? A Multiple Listing Service (MLS) is a cooperative effort among real estate brokers to share data on homes for sale. The MLS creates the most comprehensive and up-to-date computerized database of properties available within the real estate community. The majority of property sales are directly related to MLS exposure. When you see a home for sale on national real estate websites such as Realtor.com, Trulia, Zillow, and others, that information most likely originated from the MLS database. This tool enables real estate agents to market listings while maintaining accurate and consistent information across all major platforms. MLS listings are also syndicated to major public websites like Zillow and Realtor.com, making them visible to a broader audience.
Does Mink Realty assist sellers in pricing their homes? I leave pricing the home up to the home seller. If can be very difficult to determine an accurate listing price without seeing the property in person. As the homeowner, you know better than anyone what you paid for your home, what upgrades you have made, and how it compares to your neighbors’ homes. To help you get started, I provide a “What’s my home worth?” feature at the top of my website. This tool will send you comparable properties in your area to help you determine a suitable listing price. If you’re still unsure about pricing after reviewing the comps, it may be a good idea to have your home professionally appraised.
How long can my property be listed on the MLS? The Gold Listing Package is valid for 6 months, while the Platinum Listing Package is valid for 12 months. Both packages offer the flexibility to cancel at any time if needed. If your listing is approaching its expiration date, you can easily purchase a six-month listing extension for $250.00. A listing extension form must be completed and submitted at least 5 days before the expiration date of your original listing contract to ensure continuous marketing of your property without interruption.
Can I still use a “FOR SALE BY OWNER” sign? No, MLS rules require that only the listing broker’s sign can be displayed on a listed property. Any “For Sale By Owner” signage must be removed once the home is listed with Mink Realty or any other Real Estate Company. Please note that any costs or fees incurred due to an FSBO sign remaining on the property will be the seller’s responsibility. You can purchase my Mink Realty yard sign on my website. When ordering your sign, be sure to add YOUR phone number before placing the order.
How long does it take to get my house on the MLS?
Typically, your home will be listed within 24 hours after I receive payment and you have completed the listing agreement, the MLS input form, and the seller disclosure forms, and have uploaded your photos.
How will I know the MLS information is correct? Before your listing goes live, your listing team will email you a DRAFT for your review. You are required to review and approve this draft before the listing becomes active. It is your responsibility to ensure that all information, including property details and descriptions, is accurate and complete.
Will my phone number be displayed on Zillow and other Real Estate websites? NO – your personal phone number will NOT be displayed on third-party sites. Mink Realty’s number, 502-716-6151, will be listed on all the national websites such as Zillow and Realtor.com. When a buyer calls this number, they will be instructed to go to www.minkoffers.com and enter the property address. They can then send you a message or request a showing. They will also be given your phone number so they can contact you directly. Your personal phone number will be listed in the agent’s MLS notes, with a message stating, “For questions about the home, please contact the seller directly.” This ensures that inquiries from buyer agents are properly directed to you, maintaining privacy from the general public.
Should I use a lock box on my home? Yes! Using a lock box makes it much more convenient for buyer’s agents to access your home for showings. With a lockbox, you won’t need to coordinate schedules or be present each time an agent wants to show your home. That way, you don’t have to make arrangements for showings. You can purchase a combination lock box from Amazon for less than $30, and it will arrive the next day. The lock box code is entered into the showing service system, and that code is then given to agents who request a showing of your home once the seller confirms the showing.
Should I be home during a showing? NO – It’s best for sellers not to be present during showings. Buyers and their agents feel more comfortable when they can freely explore the home without the seller present, which often helps them envision themselves living there and can lead to strong offers. If the seller is present, buyers may also feel rushed, which can negatively impact their experience and perception of the home.
What if there is No Buyer’s agent? If your home is listed with Mink Realty and you find a buyer who does not have an agent, you do not owe a buyer’s agent commission. However, you will still owe Mink Realty a closing fee as outlined in your listing contract.
- Gold Listing Package: $500 (gets your property listed on the MLS)
- Platinum Listing Package: $2,000 (includes Realtor assistance with all your offers)
Who Prepares the Purchase Agreement if There is No Buyer’s Agent? If your home is listed and there is no buyer’s agent, a purchase agreement must still be prepared. You can choose to hire an attorney to draft the contract, or, if you prefer, I can prepare the purchase agreement for you and the buyer for a flat fee of $ 1,000. This fee can be paid by the seller, the buyer, or split between both parties, but it must be paid upfront before the contract is prepared.
What is the difference between the Gold and Platinum listing packages? They differ primarily in the duration of the listing, level of support and services provided.
Gold Package
- Valid for 6 months
- Sellers handle offers and negotiations directly with the buyer’s agent
- Does not include realtor assistance with contract review, negotiations, or closings
Platinum Package
- Valid for 12 months
- Includes full realtor support
- Review offers and contracts
- Advice and assistance with negotiations
- Home Inspection review and repair request guidance
- Review of closing documents before closing
Can I upgrade to the Platinum Plan later? Yes – If you have the Gold Package and decide you would like assistance with an offer, you can upgrade to the Platinum Plan. The upgrade requires a $200 purchase on my website, along with an addendum to the listing contract agreeing to the $2,000 closing fee. Once completed, you will receive full Platinum-level support, including contract review, negotiation assistance, guidance on repair requests, and review of closing documents.
Do I have to pay a Buyer’s agent Commission? Paying a buyer’s agent commission is always negotiable and is typically addressed in the purchase agreement when an offer is submitted. The MLS does display commission information. It is likely that when you receive an offer, the seller will be asked to pay a buyer’s agent commission. Sellers should be prepared to review and negotiate these terms as part of the offer process.
How will I receive an offer from a buyer agent? When a buyer’s agent writes an offer on a property, they will upload it directly to Minkoffers.com. Once uploaded, the offer is automatically emailed to both you and me. You will receive a clear summary outlining key terms, allowing you to understand and review the offer quickly. If your property is located in Kentucky, the email will also include a link to the Kentucky Seller Agency Disclosure Form. This form must be completed before any negotiations begin with the buyer’s agent when using the Gold Package. With the Gold Package, you’ll work directly with the buyer’s agent during negotiations. With the Platinum Package, I will personally review the offer with you, explain the terms in detail, and guide you through the next steps.