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Frequently Asked Questions

What is a Short Sale?

What is a Foreclosure?

What is a Member Seller?

What is a Member Buyer?

Why do you need the Buyer’s or Seller’s name and address to get bids on services?

What is the Property Public Profile?

What is the Buyer’s Purchase Profile?

What is a Bid?

What is the End Date for Bidding?

What is a rebate?

Which states prohibit commission rebates?

What is the Beginning Date for Listing?

What is a Listing (or a Listing Agreement)?

What is a Full Service Listing?

What is the Multiple Listing Service or MLS?

What is a REALTOR®?

What is a Member REALTOR®?

What is the REALTOR® Public Profile?

What is a Member REALTOR® BIO Upgrade?

What is a Buyer’s Agent?

What is a Browser?

What are Cookies?


What is a Short Sale?

A Short Sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the "deficiency>"

What is a Foreclosure?

A foreclosure, for the purpose of HungryAgents, is a property which has come into the ownership and, usually, possession of the mortgage lender, without right of redemption by the borrower, usually for the reason of delinquency in mortgage payments.

What is a Member Seller?

A Member Seller is a property owner who has registered his/her property with HUNGRYAGENTS.COM® ("HungryAgents") to receive bids on the amount of commission that Member REALTORS® will charge them to sell their property. There is no charge for doing this.

What is a Member Buyer?

A Member Buyer is a potential property buyer who has registered with HungryAgents to receive bids on the percentage of commission a Member REALTOR® is willing to rebate to the Member Buyer in states where this is not prohibited by law.

Why do you need the Buyer’s or Seller’s name and address to get bids on services?

There are several answers to this question. The first is that we must be sure that the seller or buyer is actually a person who wants to get a bid on listing or purchasing a property and not just someone interested in keeping commission rates high by filling our system with bogus information. This is why our system emails your informaion back to you when you register as a Member Buyer, Member REALTOR® or Member Seller. The second reason is that by gathering the buyer’s or seller’s information only once, we can be sure that our system can automatically forward the correct information to the Member REALTOR® when the Member Seller or Member Buyer chooses (and verifies that choice) to do so.

What is the Property Public Profile?

The Property Public Profile is the information about the property that the Member REALTOR® will see before he/she bids on the commission the Member Seller will pay to sell his/her property.

What is the Buyer’s Purchase Profile?

The Buyer’s Purchase Profile is the information about the type of property the Buyer wants to purchase, which Member REALTORS® will see before they bid on the percentage of the commission they will rebate to the Member Buyer upon a purchase.

What is a Bid?

A Bid, for the purpose of HungryAgents, is the amount that the Member REALTOR® will receive in return for services provided for the Member Seller in the sale of Member Seller’s property. In the case of a Member Buyer, it is the percentage of the commission that will be rebated to the Member Buyer upon the purchase of a property. The listing or purchase agreement between the parties will determine the exact amount and terms.

What is End Date for Bidding?

This is the date that the bidding will end for a property. It is set to seven days from the registration. After the seven days expire, the Member REALTORS® will no longer be able to bid on the property or Buyer. If the Member Seller or Buyer is not satisfied with the bids received in the seven days, they may register the property again.

What is a rebate?

A rebate is a deduction from an amount to be paid or a return of part of an amount given in payment. For our purposes it simply means that the REALTOR® will give the Buyer a part of the commission earned on the sale. Rebate offers void where prohibited. In some states offer restricted to a credit at closing.

Which states prohibit commission rebates?

The States that presently prohibit commission rebates are: Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee. In these States we will still ask REALTORS® to indicate their willingness to help you find the home you want by submitting a non-rebate bid. Buyers can see the REALTOR'S® profile and/or "BIO" and choose to be contacted.

What is the Beginning Date for Listing?

This is the date the Member Seller actually wants his/her property placed on the market.

What is a Listing (or a Listing Agreement)?

A Listing or a Listing Agreement is an arrangement, agreement, or contract for the marketing of real property through one or more real estate agents usually for a specific period of time.

What is a Full Service Listing?

A Full Service Listing, for the purpose of HungryAgents, must include, but is not limited to, the following services at no extra charge above the Total Commission submitted in the bid:

  • Listing the Member Seller’s property in the local MLS (Multiple Listing Service), where available, for the duration of the listing, unless the Member Seller declines this service.
  • Receiving and presenting the Member Seller with offers and counteroffers on the property.
  • Assisting in development and delivery of counteroffers on the Member Seller’s property.
  • Answering the Member Seller’s questions relating to offers, counteroffers, notices and contingencies.
Details of showing, advertising, open houses and other issues should be discussed at the agent’s listing presentation. Both parties must agree to which services the agent will provide.

What is the Multiple Listing Service or MLS?

The Multiple Listing Service (MLS) is the National Association of REALTORS® (NAR) computerized list of homes currently for sale. It is an exclusive tool, only available to the million-plus members of the NAR. The MLS is the tool most REALTORS® use to find homes for buyers. REALTORS® search the MLS daily to find properties that match the requirements of their buyers. The MLS will provide more exposure of a Sellers property to Buyers than any other service or website. You increase the chance of selling your property more quickly and at a better price by listing in the MLS. Listing your property in the MLS automatically lists your property on www.realtor.com, which is by far the most visited real estate website on the Internet.

What is a REALTOR®?

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

What is a Member REALTOR® BIO Upgrade?

Member REALTORS® who have chosen this subscription feature will provide Member Buyers and Member Sellers with more information about themselves. This information can include the National Association of REALTORS® (NAR) designations they have earned, their buisness history, education, awards, community service, their picture and any other information they want to include without compromising their anonymity.

What is a Member REALTOR®?

A Member REALTOR® is a REALTOR® who has registered with HungryAgents; to bid on the amount of commission he/she will charge Member Sellers to sell their property or on the percentage of the commission that they will return to a Member Buyer upon purchase. There is no charge for registering or for bidding. The Member REALTOR® pays a referral fee to Best Listing Bid LLC at the time of closing. This referral fee is due when the Member REALTOR® receives the commission for that sale.

What is the REALTOR® Public Profile?

The REALTOR® Public Profile is information about the Member REALTOR® that the Member Buyer or Member Seller will see with the bid to help purchase or list his/her property. The Member Buyer or Seller will have the bid and the Member REALTOR’s® Public Profile before the Member Seller chooses to have the Member REALTOR® contact him/her.

What is a Buyer’s Agent?

A Buyer’s Agent is the real estate licensee who is helping the buyer find and purchase a property. When the seller of a property pays a commission to a listing agent, the listing agent generally pays a part of that commission to the buyer’s agent.

What is a Browser?

A Browser is a software program that allows a person to read hypertext ("electronic information language"). The browser gives some means of viewing the contents of nodes ("pages") of websites and navigating from one node to another. Examples of browsers are Netscape Navigator, Microsoft Internet Explorer, Mozilla Foundation's Firefox and Opera Software's Opera.

What are Cookies?

Cookies are bits of information that websites send to your browser and are stored on your computer's hard drive. Our website uses cookies to keep track of your session information.


 
 
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