What is a “Listing Agreement”?
A “listing agreement” is a document which lays out the contractual terms between the seller and the agent who will be listing the property. A listing agreement, signed by the property owners, is a requirement before an agent represents your property.
Who pays the real estate agents?
The seller is responsible for paying the listing commission on the home — the listing office and agent then split that commission with the buyer’s agent and office and transaction fees out of this commission amount. Commissions are typically paid at closing, out of the proceeds of the sale of your home.
What type of information will my agent need from me?
To do the best job for you, your agent will need the best information you can provide. This would include such things as:
- your financial goals regarding the sale of your home
- flexibility in accepting terms and conditions
- preferred timing for a sale
- disclosure as to any defects the property may have
- details about the positive aspects of the home
What do I need to do to get ready to list my home?
The key to selling your home quickly and at the right price is in preparing it appropriately. Here are some tips to help you get started.
- Give home a though cleaning
- Oil door hinges, tighten door knobs
- Have carpets professionally cleaned, or replaced if damaged
- Repair dripping faucets and leaky toilets
- Replace all burned out light bulbs and clean all light fixtures
- Repair defective light switches
- Get rid of clutter both inside and out
- Cut and edge grass
- Trim hedges and weed gardens
- Paint, fix or wash railings, steps, storm windows, screens and doors
- Clean out the gutters
- Wash the windows
- Tidy up the garage
- Paint, wash and fix garage doors and windows
- Touch up all interior paint
How does an agent figure out the asking price?
Most agents research by way of what is called a Comparative Market Analysis which provides a recent history of what has sold, what is pending, and what is on the market as potential competition. This provides a picture of market demand to predict how your home may fare in the market. You may price your home more or less competitively based on this.