_Frequently Asked Questions
_ How Flat Fee MLS Works:

Before the days of tlhe Internet, Realtors were the only ones with the access to homes for sale through the shared information process known as the Multiple Listing Service, which listing pages they kept in coveted arge binder books. Times have changed and so has the Real Estate Market. Now, homes listed “For Sale” and the respective data thereof can be researched and viewed by anyone with computer internet access.

The "Traditional" Model for Selling Your Home: Subject $300,000 Property

In the traditional real estate model, there are 4 parties involved in the transaction: the buyer, the seller and their respective Realtors, each trying to represent the best interest of his client. First, the seller hires a Realtor as Listing Agent to market and sell his home. In return for his work, the typical Listing Realtor will charge a 6% commission based on the sales price. The listing agent then places the home on the MLS in order to advertise the sale of the property to other Realtors working with respective buyers. Once a buyer is found and a sales price is agreed upon, a sale will consummate. At closing, the buyer agent is paid 2.5% ($7,500) for providing the buyer and the listing agent receives the remaining 3.5% ($10,500)

The Kale Realty Flat Fee MLS Listing Model: Subject $300,000 Property

With the KALE “For Sale by Owner MLS Listing”, the seller skips the middle man and deals directly with the Buyer's Agent or anyone who wishes to view the property; thus, saving thousands of dollars in commissions !! Instead of a 6% commission, KALE Realty charges the Flat Fee of only $299 >>>> thereby creating the savings of $10,199 for a $300,000 property. We provide the same service, selling tools, exposure and full support from listing to closing as any full service Realtor. Moreover, we assist with pricing, showing help, negotiations, contracts, and more! It is imperative to have your property listed on the MLS, so that Realtors will contact you directly in order to view the property. If a Realtor is successful in producing a buyer and effectuating the sale, that Realtor is owed a typical 2.5% commission ($7,500). By serving as your own listing agent, NO LISTING COMMISSIONS ARE REQUIRED… Best part - You still retain the right to “Sell By Owner”. If you find your own buyer with our added exposure, then absolutely NO commission is due!

How Do I Price My Home ?
In today's slower real estate market, price is so very important; this is one way our $299 Flat Fee Listing will help your bottom line. Upon signing up, we will do a complete market analysis of your home and give you a price range for which the property should realistically sell. However, you do not have to take our advice and you can always lower your price whenever you wish.

Who Will Be Viewing My Home?
Anyone who has computer internet access and is looking to purchase Real Estate! The majority of calls will be from Realtors with clients who wish to view your property. There are over 40,000 Realtors in the Chicago area who will have access to your home, along with countless numbers of people searching on Realtor.com, ChicagoTribune.com, Trulia.com and many, many others. You will find that Realtors who contact you in order to set up showings have buyers that are pre-approved and motivated to purchase. Most nonrepresented buyers are in the first stages of home shopping and are actually not ready to make any formal commitment any time soon.

How Much Does The Buyer’s Agent Receive?
In today's competitive Buyer's market, it is best to stay in keeping with the 2.5% commission norm. This percentage is customary; if you decide to offer less, expect fewer phone calls from Realtors who will instead show their clients other homes on the market that are similar and offer the standard 2.5% co-op brokerage commission. If you are able to find your own buyer, there is no need to pay an agent.

How Long Does My Listing Last?
In Chicago, the average market time is now 4-5 months. KALE Realty listings are good until your property sells!!

What is the MLS or Multiple Listing Service?
The MLS is a database of homes for sale that is used by Realtors to catalog the available properties in a particular area. In Chicago, the Multiple Listing Service contains thousands of homes for sale and is used to search and compare homes by location, price, features and photos. Only Realtors have access to the MLS database.

What Happens When A Contract Is Presented?
All Contracts come directly to Kale Realty. Upon receipt, we notify you immediately in order that we may review the document with you line by line. Based on the content and terms of the offer, we then establish a negotiation strategy to hopefully help effectuate a successful closing. The Buyer, in a sign of good faith, should also present to you an Earnest Money check, typically in the amount of on less than $1000. This money typically is held by your attorney in his trust account.

Tips For Showing My Property:
The more people you get though the front door, the higher your odds are of selling. So if you are unavailable for the showings with Realtors, place your home on a lockbox (Available for sale) or if you live in a high rise, leave the keys with the doorman (Speak with Management first). Also be sure to check out our a la carte options for help with the showings.
Studies do show that buyers are uncomfortable when the owner of the property is present. Best advise, meet the buyer at the door, give them a brief history of the property and stay out of the way! When the buyer has completed his tour, he will find you in order to express any concerns or ask questions.

Can I Still Advertise on My Own?
Yes! Feel free to post on Craigslist.org or other websites and place flyers etc. in local coffee shops and or the like. MLS law does require that you place the Broker Name (KALE Realty) somewhere on the listing sheet along with the wording “ Buyer Agents Welcome”.

How do I make Changes to my Listing?
Please contact us by telephone 312-939-5253 or by email at Info@KaleRealty.com if you wish to make any changes to your listing of any kind for any reason.