FAQs


Below are questions that I typically receive regarding my services.
Please do not hesitate to reach out to me by email or give me a call at 206.402.8291.


Flat Fee Real Estate


  1. What is NWMLS?

NWMLS stands for Northwest Multiple Listing Service. It is a database of homes for sale in 23 counties in Washington state. NWMLS is used by over 30,000 real estate brokers to list homes for sale and find homes for their clients. It is the best website to advertise your property because it is typically the only tool that real estate brokers use to locate properties for their clients. Only licensed real estate brokers have access to NWMLS, but listings in NWMLS are syndicated to all major websites such as Zillow and can be viewed by general public. In addition, NWMLS has a highly capable and convenient transaction support system. All contract related paperwork are efficiently processed using the NWMLS system.


  1. What commission rate do you recommend offering the buyer's agent?

Historically, the commission rate for buyer's agent was not disclosed to the general public. Effective October 1, 2019, NWMLS enacted a change that they must disclose how much the agent representing the buyer collects when a home is sold. While there is no standard commission, the majority of sellers offer 2.5%-3.0% commission to a broker who brings a buyer.


  1. How long is the listing agreement?

The listing term is for 6 months.


  1. Can I cancel my listing?

Yes. You can cancel at any time, and there is no penalty.


Ready to get started? Have questions? Contact me at joe@verraterra.com or give me a call at 206.402.8291.