Home Sellers can Show Buyer Brokers This Document To Explain Their Flat Fee MLS Listing Status

Copyright © 2014- 2019  AUTHOR: Paul R. Marino, REALTOR®, e-Pro®

 

Many of our seller clients are confused by the type of listing relationship they have with Landfall Properties, LLC. Reminds me of a trip I recently took to the grocery store several weeks back. I walk in to grab some English muffins. You know, the real ones, that is, Thomas' English Muffins, the Original.  So I go to checkout and the clerk says: "You can have a second bag for free"  Looking confused, I reply: "You mean you'll give me a second bag for FREE?". I was dumbfounded, because I felt the price of $2.49 for just one bag was a deal. And here she tells me: "Go ahead and grab another".

 

Well - same situation here. You're going to be overwhelmed by what your getting with a Landfall Properties, LLC listing. This is not a bare bones, MLS Flat Fee listing from a company based in Des Moines, Iowa that will take your listing, slap you in the MLS, and you'll never hear from them again. We're different. A lot different. By the end of this process (once you've successfully sold your home), you're going to wonder what just happened. We're that good. We welcome you to take a good, hard look at our testimonials.  Pick any one at random. We've got so many, we don't even have time to post them to the website. OK...now bounce us an email, and say: "Show me the money. I need a name, email, and phone number for the transaction at MLS No: 4490026 (or whatever)". Within minutes you'll be talking to an actual client.

 

OK...now for the details. By the way, these details will all be posted directly to the official REALTOR® affiliated MLS database of your state, so every agent or broker in CT, MA, NH, VT, or ME can see it, and understand the precise relationship you have with Landfall Properties, LLC.  If you encounter a buyer broker that appears confused, just say to them: "Look at the documents posted to the MLS. Everything is explained in there."  So, here are the details every buyer broker will see:

 

 

1) WHAT TYPE OF LISTING AGREEMENT IS IN FORCE? The Seller of this listed property and Landfall Properties, LLC have negotiated an Exclusive Agency Agreement. As such, Landfall Properties, LLC has pledged the seller “…the fiduciary duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence, and accounting…”

 

2) COMPENSATION: Landfall Properties, LLC welcomes your participation in the marketing efforts of this property. Without your hard work, there would be no closing. Compensation paid to cooperating buyer brokers will be the percentage stated in the Official REALTOR® affliated MLS system, as of the date of initial contact between the buyer broker and either the seller, or Landfall Properties, LLC. If there are any seller concessions stated in the Purchase & Sales Agreement, they will be deducted from the Gross Sales Price in the calculation of the sales commission payout. At least two weeks prior to the formal closing, Landfall Properties, LLC will generate a commission statement, notifying the closing agent of the commission amount. Buyer brokers and facilitators will also receive a copy of this statement in advance of the closing.

 

3) WHY THIS LISTING IS NOT CLASSIFIED AS ENTRY ONLY: The listed property does not meet the classification of an Entry‐only Listing. This is because Landfall Properties, LLC provides advisory and consulting services to listing clients at their discretion. Some listed property sellers rely very heavily on these services, while others rely to a lesser degree. Feel free to directly engage the seller via phone or email, should you require clarification of any aspect of their listing or property specifics.

 

4) HOW TO HANDLE OFFER SUBMITTAL AND NEGOTIATIONS: If, on behalf of their buyer client, the buyer broker wishes to move forward with an offer on the property, submit the offer directly to the seller, using the email address posted in the MLS database. It is Important that Broker Paul R. Marino (pmarino@LandfallPropertiesLLC.com) be “CC” in all messaging relating to offers and counteroffers. It is not necessary to “CC” Paul R. Marino on mundane messaging relating to such things as appointment time changes, or requests for utility bills, or other routine back and forth communication. If sellers elect to communicate with buyer brokers directly on any offer or counteroffer, they are required to “CC” the email address of Broker Paul R. Marino. (pmarino@LandfallPropertiesLLC.com). This ensures Paul R. Marino can monitor communications, and provide advice and counsel if called upon to do so at some future point in time. Some sellers feel comfortable handling the negotiations process on their own, while others rely more heavily on Broker Paul R. Marino.  If buyer brokers do not hear directly from Paul R. Marino, they can correctly assume the seller has elected to proceed on their own. Please note however that the seller can, at any point in the process and prior to closing, request the services of Broker Paul R. Marino. Buyer brokers will be notified when and if this occurs.

 

5) HOW TO HANDLE ESCROW FUNDS: Some seller clients have negotiated with Landfall Properties, LLC to provide escrow services. Ask the seller if they are utilizing the escrow services of Landfall Properties, LLC. In those instances where this is the case, buyer brokers will instruct their buyers to make escrow deposit checks payable to: “Landfall Properties, LLC Escrow Account” Deposit checks can be hand delivered to our office (One Tara Boulevard / Suite 200, Nashua, NH 03062), or mailed to same address. Buyer brokers and facilitators will be provided a copy of the escrow check, along with proof of deposit. At least 72 hours prior to the formal closing, these funds will be released to the closing agent for appropriate disbursement. Buyer brokers and facilitators will be notified when funds have been released.

 

6) WHO HANDLES SHOWING THE PROPERTY AND ALL ACCESS ISSUES? It is important to understand the seller of this listing manages all tours of the property with your buyer clients and all dissemination of property information above and beyond that posted to the MLS. Sellers also provide clarifying answers to questions relating to property feature or condition, and are directly involved with coordination of any home inspection. The only exception to property access relates to the appraisal. Appraisers should contact Broker Paul R. Marino directly for access. This is done to ensure Broker Paul R. Marino is “in the loop” regarding this critical component of the home buying process, and to make sure the various state MLS databases are appropriately updated and kept current. Plus, if we don't, Landfall Properties, LLC gets hit with a financial fine, and we certainly don't want that!

 

7) WHO TO CONTACT IF YOU ENCOUNTER PROBLEMS: In the event you have reached an impasse when working with one of our seller clients, feel free to contact Broker Paul R. Marino directly at 603‐781‐4811, or pmarino@LandfallPropertiesLLC.com.