Frequently Asked Questions
What is the MLS?
The MLS stands for Multiple Listing Service and is a closed access computer network that is used by every Realtor in the country to find
properties for their buyers. In order to list properties on the MLS you need to be a Real Estate Broker and pay a monthly fee to access the system.
I am selling by owner; why do I need to be on the MLS?
The MLS is used by ALL Realtors to find properties for their buyers. Needless to say an extremely high percentage (approximately 87%) of homes that are sold are sold through the MLS. You will receive the most showings through the MLS and you will have a much higher
probability of receiving an offer on your property through the MLS. Also, since the buyers that will be viewing your property have been
pre-approved by a Realtor you have a much higher chance of the MLS buyer being able to financially complete the transaction. If you are selling your home it is absolutely crucial for you have your property listed on the MLS. The question is what is the best way for you to get your property on the MLS system?
How do I get access to the MLS?
Normally you can have your property listed on the MLS by paying a 3% fee (3% of the selling price) to a Realty company to place your
property on the MLS. You will also have to pay another 3% to the Realtor who brings the buyer to you. On a $200,000 property this is $12,000 you pay every time you sell a property (and much more if your property sells for more than $200,000). You will pay this fee even if someone else (including YOU) finds the person that buys your home. It is an excellent system… for the Realtors!
At Austin Discount Realty things are done very differently.
As a Seller why should I use Austin Discount Realty?
Many reasons but the main three are...price, service, experience!
With the full cost Realtors you will pay 3% to list your home… period! You have no choices as to various programs and/or prices to choose from…it’s one size fits all.
With Austin Discount Realty you have 4 options to choose from depending on the level of service and support that YOU feel that you need all of which will save you a tremendous amount of money. If you feel you can do some of the work necessary to sell your home or if you feel like you need to have us take care of all of the details we have a program that is right for you. The important thing is that YOU MAKE THE CHOICE and you will SAVE MONEY (thousands and sometimes even TENS OF THOUSANDS of dollars)!
Also, with most other firms you will likely be working with someone with minimal experience and will not have a Real Estate Broker designation (a salesperson license has NO EXPERIENCE REQUIREMENT). If you do interview other firms ask them: Will I be working exclusively with a Broker who has 10 or more years of experience?
With Austin Discount Realty you will be working directly and exclusively with a Broker with over 15 years of Real Estate experience in both the Residential and Commercial fields in addition to several years of experience in mortgage lending. This level of expertise will be vital to you if we run into unusual problems during your transaction (which is very common).
Is anything other than the MLS listing included?
Yes, with every listing you will receive (FREE OF CHARGE):
- Photos
- CMA (Competitive Market Analysis)
- Yard Sign
- Lock-Box
- Staging Consultation
If you have any questions about any of the above services please contact us.
Will you help us with the contract and the closing?
Yes, we will help you with every contract that comes in on the property. This service is included FREE OF CHARGE with several of our
packages and for a small flat fee with several others. We also can help you with all of the work necessary after the offer to achieve a
satisfactory closing. This service is offered FREE of CHARGE with several of our packages and for a small flat fee with several others.
As always with Austin Discount Realty… the choice is YOURS!
Do you have any other services that will help me in marketing my property?
Yes, we have any and all of the services available to help you to sell your home that the full cost Realtors have at far lower prices.
These include: Open Houses, Newspaper Ads, Virtual Tours; Brokers Tours; Flyers; everything you should need to sell you home.
What if I find my buyer or they are not represented by another agent?
In this case Austin Discount Realty will handle BOTH sides of the transaction for an additional flat fee of $995. Please note that in this situation you will NOT have to pay the normal 3% commission to the buyers agent which can save you thousands (even tens of thousands) of dollars.
Will using Austin Discount Realty lower our number of showings?
The majority of buyers now use the internet to find properties that they want to see. Also, since the buyers Realtor will still be receiving their commission the buyers Realtor is indifferent as to how much you are paying to the listing Realtor.
Are there any other websites where we should think about posting our listing?
As an additional benefit of using Austin Discount Realty your listing will also be placed on REALTOR.com (the #1 National Real Estate website) and Austin Home Search (the #1 Local Real Estate website). In addition your listing will also be placed on numerous other websites such as Google, Yahoo, AOL, Trulia, Zillow and many other websites (a total of over 30!). Your MLS listing will give you TREMENDOUS market exposure for your property for one low price! IMPORTANT NOTE: While all of the sites listed above are very good to have your property listed on as part of our marketing campaign the most important website for you to be on (by far) is the MLS!
As a Buyer why should I use Austin Discount Reality?
As with our sellers (see above) service and experience are also very important for our buyers and the third reason is, of course, our rebates!
We rebate 50% of our commissions (minimum fee of $3,750) back to our buyers at the close of escrow. No gimmicks or fine print; this is money in your pocket at the close of escrow to do with whatever you would like.
When you go to talk with the full cost Realtor (the one that just charged you 3% to sell your house) ask them: How much of your commission will you be rebating back to me at the close of escrow? (then take a photo of their face as they look at you like you’re crazy).
What do I have to do to get this Rebate?
The only thing we ask of our buyers is to utilize the Internet to search for properties (which is easy to do and accessible through this website) and to narrow down the search to a specific neighborhood and price range. Our on-line search tools (found on the left side of this website under “Search Austin Homes”) will have a lot of information about the properties including the price, size, bed/bath, style, and will include multiple photos of the home. This will allow you to use the computer to do a great deal of the searching for you. We will also set up a search for you that will e-mail you properties that are within your search criteria and allow you to utilize a vast array of search tools including specific searches for distressed properties.
Once you find some homes that you think are strong possibilities for you then (at YOUR convenience) just drive by the properties one time to check out the outside of the home in person and get a feel of the neighborhood. Once you find a home(s) that you are very interested in then give us a call and we will arrange to see the inside of the home and ask any questions of the sellers and/or sellers Realtor. When we find a home that fits all of your criteria we will help you every step of the way to get the home for you at the very best price and terms possible.
Do I have to pay taxes on this Rebate?
While you will need to consult your tax advisor about your individual situation we have contacted the IRS and have been told (according to IRS Publication 525 and Revenue Ruling 76-96) that this rebate is not considered to be income but rather a reduction in the basis of your
property. Again, we encourage you to consult with your tax advisor but Austin Discount Realty will NOT issue a 1099 to you for this rebate.
So, now you have money in your pocket at closing…TAX FREE!
How does Austin Discount Realty do this?
It’s really very simple and comes down to two main factors…volume and low overhead.
Because our clients will often do some of the “leg work” themselves (Sellers - home showings, Open Houses; Buyers – searching for properties on the computer, driving by properties) we can do a much higher volume of business. This allows us to charge our clients less money and still provide ALL of the service and support they need.
Also, because we do not belong to one of the large brokerage firms we do not have the high overhead of expensive offices, costly personnel expenses or pricey national advertising campaigns. Most of our business comes through word of mouth or just getting on the phone and making contact with buyers and sellers. It is the old fashioned way but it works when you have a solid message to convey to people.
Where is Austin Discount Realty located?
We are a local company (our office is in Austin) and we only do business in Austin. We know the Austin market and we are available 7 days a week to personally help you with any and all of your Real Estate needs.
Can you also help me with financing?
Yes, we have many years of experience in the mortgage industry and we will help you obtain the best financing available. We will help you decide what the best program is for your individual situation and we have many sources available to help ensure that you receive competitive prices and terms for your loan.
I am relocating from another state; can you give me information about neighborhoods and/or schools?
Yes, we have information on our website about neighborhoods and schools (see our Useful Links page) and you can always call us for more information or to arrange a visit so you can experience for yourself the wonderful city of Austin.
Can you help us to find service providers for our transaction?
Yes, in addition to our preferred Lender we have preferred pricing agreements with many service providers including: Title Companies;
Inspectors; Handyman/Contractor Services and Moving Companies.
Can you help me with Property Management/Leasing or Commercial Properties?
Yes, we have the experience and expertise to help you with Commercial Property sales, leasing or investments and/or all of your Property Management needs for either Commercial or Residential properties. We can also help you with Leasing any type of property.
Please see our Commercial or Property Management Services page(s) for more details about these services.
Does anyone in your company speak Spanish?
Yes, we can help you if you feel more comfortable with the Spanish language.
Is this legal and (if so) why don’t more companies do this?
Every service that we offer (our low prices for our sellers and our rebates for our buyers) are perfectly legal. As to why more companies do not offer these low prices I would say that part of the reason is high overhead and the other part is they simply want to make as much money as possible (i.e. greed).
How do I get started?
You can go to our Contact Us page for several contact options or just give us a call (512-300-8388) and we’ll arrange a face to face meeting so we can get to know each other and you can ask any questions that you may have. You will also receive the two free gifts mentioned above just for giving us 30 minutes of your time. We look forward to meeting with you soon.
