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MORE ABOUT THE M.L.S.
FAQ
#2...AND JUST WHO IS MY AGENT?
FTA #2... That’s a good FAQ! Actually, it
varies from state to state but here in the great state of Oregon, there
are some pretty neat laws dealing with that very subject. Although people
can always agree to work out something different, it’s pretty common for
the agent who lists the property to represent the seller and the agent who
sells the property to work for the buyer. The same agent can also
represent both the seller and the buyer just so everybody knows the score
from the very beginning. In all, it’s a pretty good system.
FAQ #3… SO WHO PAYS THE COMMISSION?
FTA #3... The seller (usually) . As
I said before, different arrangements can be made. The important thing
(and also part of Oregon’s Disclosure Laws) is to know up front who’s
who and what’s what. If you want a copy of the law, ask your favorite
real estate agent.
FAQ #4… BUT WHO REALLY BENEFITS?
FTA #4... We all do. The MLS. has
become a great service for buyers and sellers and Realtors alike. Here’s
how:
A. IF
YOU’RE A PROSPECTIVE BUYER: You don’t have to jump from
company to company to see the various properties currently on the market.
All you have to do is to find an agent you like (hopefully,
one from Seashore) and work with her or him. Your agent has
access to every listing in the area regardless of which company has the
property listed. There is no charge to you for the use of this service. As
I said earlier, the seller still typically pays the commission and that is
split by the listing and selling Realtors.
B. IF
YOU’RE PLANNING TO SELL: You can list with the company of
your choice and know that your property will be marketed by all the agents
who have membership in the MLS. There is no additional
commission charge for this even though you have, in effect, gained the
services of every agent in the area to market your property.
C. REALTORS
BENEFIT TOO: The MLS allows all of us access
to complete information on every piece of property on the market. It helps
us to better serve both buyers and sellers and keeps us informed of
the complete market.
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