Selling

Selling "Page 1"
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In today's market, many homeowners have considered "going it alone" and selling their homes without the help of a Realtor to "save the commission." However, once they realize how complex and intimidating a real estate transaction can be, many people reconsider and enlist the services of a Realtor. There are more than 145 steps to complete a real estate transaction. It requires an organized, step-by-step approach that many homeowners just don't have the time, skill or experience to carry out.

A Realtor provides a variety of services including help in setting a listing price within current market guidelines. They develop a marketing plan, offer recommendations and advice to make your home more attractive and "saleable," and act on your behalf during negotiations to ensure your interests are protected.

Another advantage of working with a Realtor is the far-reaching market exposure your home will receive through the Multiple Listing Service® (MLS®). This co-operative marketing system relays information about your home to a vast network of Realtors and therefore, potential homebuyers in your market. The greater the exposure your home receives, the more likely you are to find a buyer willing to pay your price.

Selling your home is not a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. A Realtor is committed to spending the time it takes to help you sell your home in the least amount of time and for the best possible price.

A Realtor must disclose to you in writing, who exactly they represent in any real estate deal. A Realtor may represent a buyer or a seller; they may also represent both buyer and seller in the same transaction. Your listing Realtor is, in law, your agent. An agent owes his or her client the duties of utmost care, integrity, confidentiality and loyalty. Make sure you discuss agency with your listing Realtor.

The process of selling a home with a Realtor starts with the Listing Agreement. It's a contract between you and the brokerage company that the agent represents. It is a framework for subsequent forms and negotiations. It's important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties. Both you and the listing agent sign the listing agreement and each receive a copy. The agreement binds both parties to its terms and conditions.

Generally, in the agreement you appoint the brokerage company as your agent and give its representatives the authority to find a purchaser. The duration of the agreement is indicated, and the compensation is specified. The agreement also sets out the listing price, and accurately describes the property you are selling. That will include the lot size, building size, building style and materials, floor areas, heating/cooling systems, room sizes and descriptions.

This is when you must also decide what you are taking with you and what you are leaving with the house. Generally, unless stated otherwise, fixtures remain with the property, while chattels -- things which are movable -- aren't included in the sale. If necessary, what stays and what goes are listed under "inclusions" or "exclusions." 


Selling "Page 2"

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JAN CARR