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Frequently Asked Questions
How Much Does Listing Llama Cost?
Listing Llama is always free for home buyers and sellers. Realtors® pay a monthly fee for their personalized agent profile. After the free trial, Listing Llama is just $149/month for real estate agents – no big commitment.
Do I need a real estate agent to buy a home?
Legally, you do not need a real estate agent to buy your home. However, there are many benefits to using one. For example, an agent can help you determine the worth of your property by providing a Comparable Market Analysis. Agents also provide various services such as home showings, offer negotiation and suggested home improvements that may help increase the value of your home. Additionally, you cannot have your property listed on MLS without an agent!
How many real estate agents can I hire?
As many as you want. However, the more agents you hire, the more you have to pay. This rule does not hold true to different types of property purchases – you may opt to work with one agent when buying your home, and a different agent when buying a cottage.
Can I expect discounted commissions through Listing Llama?
Listing Llama does not decide on the commission structure for a Realtor. Listing Llama highlights the quality of a Realtor’s services. Based on your ability to compare proposals from several Realtors you can decide what is valuable to you, be it home staging, advertising, or demonstration of previous related sales. You will naturally see what can be expected from your Realtor and you and your Realtor must come to agreement on the commission rate.
If I choose to work with a Realtor® on Listing Llama to achieve my real estate goals, does it mean I have entered a binding contract?
No. Using Listing Llama to communicate with a real estate agent does not create a binding contract. Listing Llama makes the introduction between you and our Realtor® members. Once you decide on a professional, it is up to you to proceed to signing a listing contract or a buyers agency contract with them.
I chose a Realtor®, but once they wrote up my Listing Contract or Buyer’s Agency contract, they didn’t include and/or aren’t fulfilling their Listing Llama proposal promises. What should I do?
Communicate with your Realtor®, that you have noticed the omission of proposed services promised and reach a new agreement and be sure that they include it in your official listing or buyer’s agency contract. If you don’t feel satisfied, get back on Listing Llama to find a new Realtor®!
In most jurisdictions, you aren’t bound to stay with a real estate agent who isn’t performing well for you. Even if it is that you simply don’t get along, you can cancel your contract. Call your local real estate council or governing board to see what the rules are in your area.
Are all the Realtors® on Listing Llama licensed?
Yes. We constantly screen and have systems in place to ensure authenticity. If there is ever fraud on the site, the user will be banned immediately and reported to the real estate council, the governing body of real estate law.
A Realtor® proposed a specific property to me on Listing Llama. Is this normal?
No. Our web app is meant to help you choose a Realtor for their services, NOT their inventory. We screen the site daily for such instances and most often will revoke membership to Realtors engaging in this kind of solicitation. If you are ready to hear about properties from a Realtor and move ahead with them, make a handshake and get to working together to find your dream property!
Should I expect to learn what my house is worth on Listing Llama?
Not exactly. Our Realtor members are advised not to make valuations on our platform. Our service is to acquaint you with Realtors in order to understand what you can expect from them in today’s market. Realtors can give you a price range, but don’t expect a firm valuation until all the Realtor’s steps are taken, which will happen AFTER you have decided to work with them.
A Realtor® told me s/he has a qualified buyer ready to buy my property. What should I do?
Have you engaged that realtor to sell your home? Or, are you still reviewing proposals. If you are still reviewing proposals, it’s up to you to decide what your next step is. Is this a Realtor you were considering to sell your home? If you haven’t done the virtual handshake with that Realtor or aren’t planning to, you can advise the Realtor that you will let him/her know when you’ve made a decision on hiring.
Do real estate agents have to tell the truth?
Agents are required to practice with honesty and accountability; to maintain confidentiality and not disclose any information to a third-party which may undermine their client’s position in a negotiation.
Once a person signs a Representation Agreement with an agent, he/she becomes said agent’s client, meaning that the agent now has a fiduciary duty towards the client. Henceforth, the agent is obliged to represent the client’s best interests and needs.
I'm a Realtor® on Listing Llama. A potential client asked if I would provide a discount. Should I?
It is up to you to build your standards and industry best practices. Your managing broker can help you with methods for managing challenges like this one that is commonly faced, on and offline.
I'm a Realtor® on Listing Llama. Do you help with response to proposals?
We can provide you with best practices when responding to a request for a proposal from a consumer. Always recommended is giving a detailed response with your experience, marketing strategy for the area, commission expectation and other details that potential clients will appreciate hearing about up front, before making their decision. Consumers will have many choices in hiring a Realtor – make your bid for their business stand out.