How do you choose a REALTORŪ?
Whether you're a first-time seller or someone who has sold many homes,
there are several ways to find a local REALTORŪ:
Use the "Find a REALTORŪ" search engine on REALTOR.comŪ to find individuals who
actively sell in your community.
Get recommendations from past sellers.
Look for REALTORŪ signs in your community.
Check the classifieds in local newspapers and "shopper" publications.
Look at the listings in local real estate magazines.
In some cases, sellers elect to meet only with one REALTORŪ while other owners
elect to meet with several. Whatever your preference, there will be a number of
questions you will want to ask, including:
What services do you offer?
What type of representation do you provide? (There are various
forms of representation in different states. Some brokers
represent buyers, some represent sellers, some facilitate
transactions as a neutral party, and in some cases different
salespeople in a single firm may represent different parties
within a transaction.)
What experience do you have in my immediate area?
How long are homes in this neighborhood typically on the market?
(Be aware that because all homes are unique, some will sell faster
than others. Several factors can impact the amount of time a home
remains on the market, including changing interest rates and
local economic trends.)
How would you price my home? Ask about recent home sales and
comparable properties currently on the market. If you speak with
several REALTORSŪ and their price estimates differ, that's OK,
but be sure to ask how their price opinions were determined
and why they think your home would sell for a given value.
How will you market my home? At listing presentations, brokers
will provide a detailed summary of how they market homes,
what marketing strategies have worked in the past and which
marketing efforts may be effective for your home.
What is your fee? Brokerage fees are established in the marketplace
and not set by law or regulation. Typically, brokers who list homes
are compensated on a performance basis - that is, the broker is
not paid unless the home sells under the terms and conditions that
are acceptable to you.
What happens if another REALTORŪ locates a purchaser? That is,
who will that broker represent, and how will he or she be paid?
What disclosures should you receive? State rules require brokers to
provide extensive agency disclosure information, usually at the
first sit-down meeting with an owner or buyer.
How long do you want to list your home? A "listing" agreement is a
contract that shows the broker's obligations and outlines
the terms under which your home is being made available
for sale. The length of the agreement is a negotiable matter.
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