Listing Your Property
Once you've selected a Realtor®, the first step in the sales process is to review your needs and goals. Next, your Realtor will draft a listing agreement detailing his/her plan for selling your property.
What's in a Listing Agreement?
A listing agreement is a contract that authorizes your Realtor to market your home according to the terms in the agreement, including the length of agreement, commission rate and a listing in the Multiple Listing Service (MLS) – an electronic database of properties for sale that is accessible by consumers and enables your Realtor to cooperate with other Realtors to sell your home.
Do You have a Say?
Yes. When your first meet your Realtor, s/he will conduct a pre-planning interview at your home. You'll be asked about your needs and goals in selling including: Why do you want to sell?; How soon do you want to sell/move?; and What is most important in the sale… price, speed or other?, etc. Additionally, your Realtor will evaluate your property based on: location, features/recent renovations that can increase resale value, etc.
The Proposal
The listing proposal details your Realtor's analysis of your property as well as a comprehensive description of the marketing strategies that will be implemented to sell your home. The listing proposal also contains a list of comparable properties that have sold in your area during the last 6 months, the agent's biography and track record, an outline of the services that will be provided; an agency disclosure form (details the seller/agent/brokerage firm relationship), a disclosure form and the listing agreement.
Review, Sign and Begin
If you agree to the terms in the proposal, sign and return the agreement to your Realtor. The signed document initiates the selling process.
