DISCLOSURE OF SERVICES
How can my buyer view the property? Per the showing instructions of the MLS listing, cooperating Realtors are instructed to contact the seller directly. Realtors are also instructed to contact the Seller with home-specific questions.
Where do I deliver the Offer to Purchase and who explains the terms of offers to purchase to the seller? Cooperating Realtors are instructed to consult with the Seller as to the preffered method of delivery. DO NOT FAX TO BRENDY REALTY AND ASSUME IT WILL GET TO THE SELLER. Approved methods of delivery include fax/email to seller, seller's attorney, or personal delivery. Again, please contact Seller first before delivery of Offer. The Seller is responsible for reviewing the offer or hiring an attorney to assist. In no way is the Cooperating Realtor expected to assist the seller in reviewing the offer. If the Realtor is acting as a Seller-SubAgent and feels it is in the best interest of all parties to answer questions from the Seller, this Realtor may do so. If the Cooperating Realtor is acting as a Buyer's Agent, please refrain from giving advice to the Seller.
Does Brendy Realty INC assist the Seller in negotiations? The majority of the time, Seller's hire a Real Estate Attorney to assist in negotiations. Brendy Realty will assist in negotiations, if the Seller desires so, and pays for it.
What about counter-offers and other real estate paperwork? Unless the Seller feels 100% comfortable with the paperwork, the Seller will have their attorney to assist them with the contracts and any other documents. Brendy Realty INC is available for general questions and provides blank forms for all clients.
Who accepts and holds earnest money? The earnest money will be held by one of the following: a) the seller's attorney, b) title & closing company, or c) the Cooperating broker trust account (at the sellers request). DO NOT SEND AN EARNEST MONEY PAYMENT TO BRENDY REALTY INC UNLESS WE TELL YOU TO DO SO.
What about Title Insurance and Code Compliance? We provide a guide for all clients explaining their responsibilities in the transaction. Seller or Seller's Attorney will setup and order title insurance. Seller is responsible for code compliance. .
How do you handle Procuring Cause issues? Sellers are provided with a sign-in sheet and instructed to question all buyers that view the home, in order to safeguard Cooperating MLS brokers.
What can I do to avoid Procuring Cause disputes? a) instruct your buyers to contact you when they wish to see any property, b) instruct your buyers to always give your name and phone number when attending open houses, c) disclose the availability of a specific listing to your buyer as soon as the property hits the MLS, d) keep accurate records about how & when you told the buyer about a property, e) report the names of interested buyers with the Seller (include the 'agency disclosure' form & notes about how/when you became involved) .
Are Brendy Realty, INC properties 'by owner'? No. Brendy Realty, INC only lists properties with valid, state approved Listing Agreements. What about Yard Signs? The Seller is allowed to use whatever yard sign they desire. There is no rule/law that requires the homeowner to use our signs.
What if MLS Information needs to be changed? We get our information directly from the seller. If there are any problems with our reporting, please contact us directly. We are happy to fix any errors.
What is the Variable Commission Rate? Sellers offer 2-3% to cooperating brokers if they bring a buyer and buy the home. If the buyer is brought (procured) from any other means, the commission owed to Brendy Realty, INC is reduced substantially. Contact us directly for details.
How are commissions handled? Commissions are paid directly from the Seller at closing. The offer of compensation displayed on the MLS is directly from the Seller .
Can the Seller, Buyer, and Cooperating Realtor Modify the Commission? Yes, the paid compensation can be different than the MLS offering of compensation. The Buyer, Seller and Cooperating Realtor must all agree upon such change, and can include this change by modifying the language in the Offer to Purchase. Any commission changes can and will supercede the MLS published offer of compensation. Any commission to be paid to a cooperating broker must be in writing and agreed to by all interested parities. A clause in the offer as to what the seller will pay as a commission, if any, must be included in the offer to purchase contract. If there are questions/problems regarding commissions, please contact Brendy Realty immediately.
Why do sellers list on MLS with Brendy Realty INC? Most homeowners like options. We provide them with an alternative to a full service Realtor. Every homeowner wants another Realtor to bring them a buyer. This is why they list on the MLS.
Contact Bob Brendemuehl, Broker-Owner, at 414-228-0499 with specific service related questions.
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