Selling the home at the right price is of utmost importance. The sellers agent should determine the market value of the home by first examining recent sales of similar homes in the same area (called doing a CMA in real estate jargon) & looking at active homes similar to his on the market.
The Realtor must determine how quickly the seller must sell & his motives for selling. Once determining the correct price range for the home, he must ask the seller if he wants to price the home lower for a quick sale or higher to receive more money. Then, the agent must monitor the market. Home values constantly change. If the home has few showings the first week, he should do market research & advise the seller to lower the asking price if needed. He also should look at his seller's competition to determine a competitive price for the home.
The real estate agent should market the home, keeping it in the forefront of buyers' minds & communicate with the seller as often as possible. Giving the seller valuable feedback from other agents or buyers is very important.
Each state offers different forms of seller representation, & the real estate agent must first explain the types of representation offered in his state to his seller. These forms of representation spell out the real estate agent's responsibilities to the seller.
Go to the website of the Nationsl Association of Realtors & read the Realtors Code of Ethics. This will explain the responsibilities of a realtor to a seller in a more general manner.
I hope this helps, Pat.
Marcia Kelly, CRS
(785) 249-3989. (Serving northeast Kansas & Kansas City).
Beyond placing a sign in your front yard, putting it on the local MLS, and taking calls from agents and potential buyers you'll be hard pressed to find consistency with a listing agent's responsibilities to the seller.
Here's the scoop....far too many sellers "assume" certain things will be done only to find too late that they were wrong.
The best way to get the clarity you deserve and require is to request a written copy of their comprehensive marketing plan for your property. This should include a detailed account of what both they and their company will be doing to market your home.
With a written account such as this you will be able to follow and chart what has and hasn't been done. This should be considered a tool by everyone involved and prove to be a road map to your successful sale.
If you are thinking of listing....always request a written copy of the comprehensive marketing plan for your property. If it can be provided to your satisfaction......move on!
The agent WILL present you with a document that you will sign that details their professional duty to you. Those things for which their licensing board can and will hold them accountable. Thise responsibiiites include, but are not limited to, confidentialy, protection your interests, transaction oversight, data interpretaton and process supervision.
There are other attributes, not responsibilities, that will prove extremely beneficial. Others will present thise attributes in their "20 questions to ask a real estate professional' list, or the perception that the number of letters following an agents name has real meaning, or even thier easily discerned, 'It's all about me" propoganda.
You really have eight questions you need answered. These eight questions are not to be asked but are expected to be answered, intuitively by the agent who knows their responsibility to you. You don't know these questions but will have a 'light comes on' moment when they are shared with you. Everything else, in context, will prove to be murmurrings and distractions that bring you no peace.
It is important, at this early stage in your consideration, that you press EVERY agent with whom you talk, to advise you o fthe GREAT RISK you and the buyer will be exposed to if your home is advertised on 'ALL INTERNET SITES.' This risk, compared to the marginal benefit, will be a flashing red light contradiction to one of your essential eight questions.
Best of success in selling your home,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL