FAQ

What is the MLS?

The Multiple Listing Service (MLS) is an extensive database of information on real estate properties listed by real estate brokers and their agents. The MLS is only available exclusively to the members of the MLS, providing a large advantage to buyers and sellers who utilize the services of REALTORS. Over 90% of all real estate sold comes through the MLS system.

  • Fact: In Utah, more than 90% of properties are sold as a direct result of the MLS

  • Fact: Each day the Wasatch Front MLS receives over 900,000 hits from Realtors with active interested buyers

  • Fact: According to the National Association of Realtors, homes listed on the MLS average a net of 12% more.

  • Fact: 85% of home buyers use the services of Realtors who primarily use the MLS to search for houses on the market

  • Fact: You maximize your chances for selling your property quicker and at a better price when its listed on the MLS.

    • How long will my property be listed on the MLS?

    The MLS listing period for each sellers package is 12 months. You may renew for another 12 months for an additional discounted fee. You may also cancel your listing at any time for any reason.

    With your flat fee listing, do I have to pay a buyer’s agent?

    Yes. If an agent sees your listing on the MLS or other sites we have advertised, they will be due a buyer’s agent commission (BAC) upon successful closing of your home. You decide what commission you want to pay when you complete an application and this BAC is stated on the MLS listing. It is recommended that you offer a commission of at least 3% since your property will be competing with others for agent’s attention.

    What if I find a buyer myself? Will I have to pay any commissions?

    No. You will not have to pay any commissions for the buying side if you find the buyer on your own. When you list your home through the Norton Team, you maintain the right to sell your home on your own.

    What if an agent from the Norton Team finds a buyer?

    When signing a listing agreement, you have the choice of allowing dual representation. Dual representation means you allow our agents to represent you as the seller and also the buyer on the same property. If you agree to dual representation, you will be required to pay commissions to the Norton Team just like you would pay any other agent. If you do not agree to dual representation, the buyer will be represented by another agent (if so choosing) and you will pay this agent the commissions.

    Whose going to do all the paperwork involved?

    It depends on the package you chose. The bronze and silver flat fee packages require you to handle the paperwork yourself. We are happy to review your paperwork and offer suggestions through fax or email.  With our gold and platinum packages we will handle all the paperwork involved in selling your house and meet with you personally.

    What does “reviewing offers and paperwork” mean?

    With the bronze and silver packages, the seller is expected to complete his/her own purchase contracts and associated paperwork. We offer our service to review everything to make sure it looks correct and give you some peace of mind. We will only review paperwork sent by email or fax- no personal meetings.

    Whose phone number is on the MLS listing and Signs?

    The MLS listing and the yard sign will display your name and number. Our office phone will also be available, in the case you can’t be reached. With the gold and platinum packages, we will take the phone calls and arrange the showing appointments according to your schedule. With the bronze and silver packages the seller’s contact information will be dominant and we will direct any phone calls to you. Realtors will call you directly to schedule appointments.

    How soon will my listing appear after I sign up? 

    With our bronze and silver packages, you property will be listed within 24 hours of receiving the necessary forms online. With all other packages, we will have your house listed on the MLS within 24 hours of meeting with you.

    What about photos?

    With the online bronze and silver package you can upload up to 12 digital photos with our online form. With all other packages, our agents will be happy to take up to 12 high quality photos and create a photo tour on the MLS listing.

    Can I get more help from the Norton Team?

    Each of our packages comes with the benefit of constant support and advise throughout the process. If you decide you would like to upgrade to full service (we handle everything), we will simply charge an upgrade fee.

    Will my listing on the MLS and other bonus sites look different as a flat fee or discount deal?

    Not in the least! Your listing will appear exactly the same as any other listing with a “Full Price” realtor. In fact, it will often look better because we take extra time to include 12 quality photos with detailed write-ups.

    How do I know the MLS information is correct?

    We will email or fax a copy of the MLS listing for you to review. If you see any mistakes, we will immediately edit the listing with the changes that you request.

     Will you conduct open houses?

     We conduct open houses with our gold and platinum packages. If you have chosen the bronze or silver package and would like us to hold an open house, we will be happy to do so for an $50 upgrade fee.

    How do I close on an offer and complete all the contracts?

    When listing with our Bronze and Silver packages, you are expected to complete and understand the real estate purchase contracts, disclosures, and addenda involved. We will look over your completed paperwork to make sure you have complied with state law and protected yourself. Our benefits include professional support and advise. If we feel you are asking for “full service” assistance, we will require an upgrade fee or you will need to hire a professional representative of real estate law. We have several title companies and escrow officers we can recommend for you when it comes time to set up settlement and closing.

    If I am conducting my own negotiations and paperwork, am I required to provide you copies?

    Yes. Though some of our packages are flat fee listings, the State of Utah considers us to be your recognized agents (the only way to get your property on the MLS in the State of Utah). As of May 1, 2005, the State of Utah requires all brokerages to maintain a copy of the offer transaction paperwork for a period of 3 years, whether or not the listing is “limited service” or “full service”.

    Can I use a “For Sale By Owner” sign while listed on the MLS?

    No. The Realtor’s MLS prohibits the use of “Non Brokerage Signs” We will post a highly recognizable yard sign complete with a flier box and riders for free if you choose our gold or platinum package. With our other packages, you can buy these items, and many more) at our seller’s store.

     What is Senate Bill 56 passed in 2005?

    On May 1st 2005, the State of Utah passed Senate Bill 56. This new legislation REQUIRES ALL BROKERAGES to provide certain services to their clients, including the availability of a licensed agent to provide advice on offers, escrow, settlement and closing during normal business hours. Additionally, brokerages are required to maintain a copy of the seller’s closed transaction paperwork for a period of 3 years.

     We provide these basic services to all our clients no matter what package they choose. For our flat fee packages (bronze and silver) it will be the seller’s responsibility to SHOW THE PROPERTY, HANDLE ALL OFFER NEGOTIONS AND COMUNICATIONS WITH BUYERS OR THEIR AGENTS, OVERSEE ESCROW, AND ARRANGE SETTLEMENT AND CLOSING.

    Can’t Find Your Question? Email us at nortonteam@gmail.com