In a previous blog post I explained what a Buyer’s Agent is and what this type of real estate agent does for his clients. This week let’s talk about what a Real Estate Seller’s Agent is and what he does for his clients.
A Real Estate Seller’s Agent is a professional real estate agent, also known as a listing agent. He acts solely on your behalf and in your best interest as the property seller in a real estate transaction. His loyalties are with you. It is his duty to share with you all information about potential buyers that may help you make decisions regarding the transaction. He is legally obligated to represent you and your financial interests as a seller.
What does a Real Estate Seller’s Agent do for you as the seller? From the moment you sign a listing contract, (a legally binding agreement that usually gives your Real Estate Seller’s Agent the exclusive right to sell your property usually within 60 to 90 days), your Real Estate Seller’s Agent:
- advises you on the best ways to present and prepare your home to sell it and may even help arrange a home inspection. Your Seller’s Agent knows how to highlight your home’s amenities from its curb appeal to emptied closets. He knows what buyers want.
- researches the market for recent sales of comparable homes to determine the best asking price.
- prepares a marketing plan: schedule for listing, showing, and advertising your property.
- provides you with a real property condition disclosure and other necessary forms.
- places a “For Sale” sign with information flyers describing your home on-site. He markets your home to buyers on the internet, in classified ads, in real estate magazines, pamphlets, direct-mail flyers and newspaper ads.
- lists your property for sale to the public on the Multiple Listing Service (the MLS, a searchable list of homes for sale).
- takes other real estate agents on a walkthrough of your home, so they know what to tell their clients about your home.
- serves as a contact to answer any questions about your home and schedule showings.
- holds an open house to show your property.
- makes sure buyers are pre-screened and that they are financially suitable to buy your home.
- acts as a trustee for you. This could include preparing a standard real estate purchase contract for you.
- finds a buyer for your property for the highest possible price on the best terms for you as the seller.
- presents buyers’ offers to you
- shares all information about potential buyers that will help you make decisions regarding the sale.
- negotiates the price of your home on your behalf as the sellers as well as the terms of the sale. He is your representative in all negotiations.
- is your messenger, manager, counter offer and contingency issues handler once an offer is made. He follows the paper trail from the initial offer from the buyer through to the final closing. He processes all the paperwork necessary to complete the transaction.
You pay for your Real Estate Seller’s Agent’s services with percentage commission of 4 to 6 percent or a flat fee. This is stated in your listing contract. The buyer’s agent can be paid from that fee.
Do you have more questions about what a Real Estate Seller’s Agent is? Subscribe to the Brooklyn Real Estate Blog or contact me to ask those questions and get them answered.
I am the Brooklyn Expert! I have been connecting clients with Brooklyn homes for over 27 years. I know the Brooklyn area inside and out. I am honest, and I know the right way to connect buyers with your Brooklyn home. Give your Real Estate Seller’s Agent, Charles D’Alessandro Your Brooklyn real estate agent with Fillmore Real Estate, a call at (718) 253-9600 ext 206 or email me at [email protected].