What is the Public Listing Service?

PropEx Public Listing Service™ (PLS) is a "public based" real estate search engine much like a Multiple Listing Service with key differences: [1] it can be used by real estate professionals but it's use and access is not limited exclusively to real estate agents, [2] both agent and FSBO (For Sale By Owner) listings and rentals may be entered/edited at any time and, [3] all property types - residential, commercial, land, etc. may be entered.

Do I have to pay a commission to list on PropEx.com? 

No. PropEx does not charges a commission or fee based on the offering or sale price of your property. While PropEx.com does encourage you to negotiate a commission with a selling agent if s/he presents an acceptable offer, this is strictly between you and the selling agent.   

Keep in mind, buyer agents represent the largest segment of qualified buyers and they may refuse to show your property to a prospect if there is no financial incentive to do so.

What is the minimum information I may post for public view?

When entering your listing, required fields are marked with an "*" (asterisk). These represent critical fields used by the search engine to help buyers and tenants locate your listing based on key items such as price, property type, size, location, and so forth. Other fields are optional but provide more information about your property.  Since your property may contain special features that appeal to certain viewers, it is in your best interest to post as much information about your listing as possible.

What is the Financial Summary and "View Pass"?

The "Financial Summary" contains information that you may not want other viewers to see such as rental and expense data, assumption terms, terms of any owner financing that might be offered, selling incentives, offered commissions to agents, exchange terms, and so forth.

If you enter a "view pass", financial information will not display to the public as part of the listing. The public will still be able to freely view other information about your listing but must contact you via email to access the financial information. This process serves several functions, [1] it gives you the opportunity to obtain information about the prospect, [2] it provides a method of call-back verification before you release important financial details and, [3] it prevents you from having to provide the same information to multiple prospects over and over. 

Helpful Hint: You may choose to provide your "viewpass" to select individuals such as members of an investment group, agents in your office, or perhaps your local Multiple Listing Service. You may also choose to limit viewable access to some listings while freely posting other listings. This works to your advantage depending upon how marketable a property might be or how much information you are willing to share with the general public.

REMEMBER:
*If you wish to display the Financial Summary for public view, simply leave the "viewpass" (password) blank.

*If you desire to conceal these fields from public view,  then do enter a "viewpass". Entering a "viewpass" will only limit display of the Financial Summary requiring prospects to email you before they may "view" this information.

How often may I change passwords or edit my listing?

You may edit your listings or change viewer passwords at any time and as often as you like. Each listing may have its own unique "view pass" or, you may use a single "view pass" for multiple listings. 

What if someone is interested in viewing my property offered for sale or lease?

It is advisable to interview a prospect over the phone before arranging an appointment. For your safety, basic information about the inquirer should also be obtained before showing the property and you should never show property alone. If the inquirer is unwilling to provide a verifiable phone number and/or contact information, you should not provide further information. It is always a good idea to "call back" the prospect prior to showing to reconfirm the information.

HELPFUL TIPS WHEN NEGOTIATING:

........ if the inquirer is not represented by an identifiable agent, be cautious about providing too much information. Also keep in mind that potential buyers are reluctant and often unwilling to discuss their financial affairs with a seller since this might place them in a disadvantageous bargaining position.  

......... if the prospect has not yet arranged for financing but is interested in presenting an offer, carefully posed questions may give you some clue as to their ability to qualify for a purchase loan. Length of employment, residence stability, and credit history are important considerations in a lenders decision to extend a loan. Unless the prospect indicates he/she is a cash buyer, it may be best to refer them to a local lender for loan pre-qualification before attempting to negotiate the offer. In this case, you should request a loan approval letter from the lender.  

.......... if seller financing is offered, the prospect should anticipate probing questions relative to his or her financial affairs. If you have a listing agent, this process should be hassle-free. If you do not have a listing agent representing you, obtaining, verifying, and qualifying a prospect my be extremely difficult.    

What if the prospect is not represented by an agent?

If a prospect desires to inspect your listing and they are not represented by an agent, you might consider requesting photo identification, phone and address verification, and/or a "statement of loan pre-qualification" from an identifiable lender.

For your safety, basic information about an inquirer should be obtained before you provide any financial information. If the inquirer is unwilling to provide a verifiable phone number, contact information, or otherwise appears suspicious in any way, you should avoid contact.

 What types of property can I list on PropEx.com?

Essentially, all real estate property types may be listed on Propex.com. This includes homes for sale, apartment rentals, office buildings for sale or rent, industrial buildings, mobile homes for sale, mobile home space rentals, etc. - just about every kind of real estate you can imagine.

Propex.com is unique in it's ability to search all types of real estate. Of course, Propex Public Listing Service™ (PLS) is new and, like any new service, we will need time to grow and build the database. Be assured, we are committed to do whatever it takes to earn your trust and build the most comprehensive real estate listing service available on the web!