FAQ

Q. What is the difference between a traditional full service broker and your service?

A full service broker will help you determine a selling price, list your home on the MLS, schedule showing appointments and negotiate the sales contract on your behalf. For these services you pay a hefty listing fee of 2.5%-3% of the selling price (this is in addition to the 2.5%-3% you will be required to pay the Buyer's Agent). That's a total of 5%-6% in commissions! We offer you a way to list your property on the same MLS for $99.00. In exchange, you assume most of the duties traditionally performed by the Listing Agent. You pay only the Buyers Agent portion of the commission at closing. If you find the buyer yourself, you pay NO Commission at all.... 

Q. What do you mean by the "Buyer's Agent Commission" and how much should I offer?

The Buyer's Agent Commission is the amount you are willing to pay a real estate agent that brings you a qualified buyer. This amount is determined by you at the time of the listing and is paid to the Buyer's Agent at closing. This amount should be competitive with other listings in your area if you want to take full advantage of the MLS. These commissions typically range between 2% - 3% of the selling price.

Q. Will GreatHome Realty actively try to sell my property in an effort to earn the Buyer's Agent commission I'm offering?

No. Any calls we receive from potential buyers inquiring about your property will be referred directly to you. All we receive from you is the flat fee.

Q. Does GreatHome Realty also offer Services of a Traditional Brokerage?

Certainly! At the Sellers request we also perform the services of a traditional Brokerage like helping you determine the selling price, schedule showings and assist in negotiating the Sales Contract for as low as 1% Commission (1.5% less than an average Traditional Broker). In addition you pay NO Commission if you find the buyer yourself....

Q. Can I still sell my home "By Owner" while it is listed on the MLS?

Yes. We do not take away your right to sell the property yourself. If you find a buyer on your own, you pay absolutely NO Commission.

Q. How does the "Minimum Level of Service" law in Illinois effect me and the service you provide?

Illinois passed a law requiring that Listing Agents provide a minimum level of service to their clients. To comply, all offers submitted by agents must be faxed to our office first. We will contact you upon receipt and either email or fax the offer to you. We will also assist you during the negotiation process and be available to answer any questions you may have through the close of your transaction.

Q. Is this the same MLS other agents use in Chicago and the surrounding suburbs?

Absolutely! The Multiple Listing Service of Nothern Illinois (the "MLS") is the largest database of it's kind in the country and most widely used in Chicago and the surrounding suburbs by Licensed Real Estate Personnels Only.

Q. Will the MLS really help me sell my home?

Definitely! To sell your home you have to let people know it's on the market. The MLS gives you exposure to over 50,000 Licensed Illinois Real Estate Agents and the buyers they represent. The fact is that over 90% of buyers use a real estate agent when looking for a home and real estate agents use the MLS. It is that simple......

Q. Will my home get exposure on the Internet?

You bet. As part of our package, your home will also appear on several popular real estate websites. These sites include, realtor.com, homes.com, realtytrac.com, ghrealtygroup.com. Calls from buyers that see your listing on one of these websites will be referred directly to you.

Q. Will my listing look the same as other listings?

Absolutely. The format is standard for all listings which should follow MLS guidelines and principles

Q. What if I have a question during the listing period or want to change some information in the listing?

We are a licensed Real Estate Brokerage and will gladly answer any questions you have. If you want to make a change to your listing (i.e. price, description, etc.) simply call or send us your request via email (or fax). Your listing will be updated within 24 hours [Fax (773) 373-0726, info@ghrealtygroup.com]

Q. Do you hold earnest money?

No. You must make arrangments with your attorney or some other third party or the Buyer's Brokerage.

Q. Can I cancel my listing at anytime without a penalty?

Yes. Unlike other listing services, we DO NOT charge a cancellation fee. You may cancel your listing at any time. If you have additional questions please fell free to contact us at 773-373-0726