The first step in selling your home is to enter into a listing agreement, a contract between all legal owners and me, the listing agent and REALTOR. This is a contract describing the terms of the listing including price, length of time, our legal obligations to you and commission that will be earned. This is an exclusive right-to-sell agreement, meaning that we are the only Realtor who can market your home during this time period and the commission is earned regardless of who finds a buyer during the listing period. For example, if you find a friend who wants to buy your home, your broker still gets a commission.
In many cases another REALTOR will bring a buyer for your home. This second agent is called the cooperating broker, and represents the buyer as a buyer’s agent. Your agent represents you as the listing agent, and will agree to pay the cooperating broker a fee from the amount that you pay them to sell your home. Cooperation terms and compensating other brokers are included in the listing agreement.
Step by Step
- Initial listing appointment.
- Discuss your time frame and go over the market analysis
- Go over possible improvements and/or changes to best present your home for marketing
- Signing of required documents.
- Listing Agreement
- Seller’s Disclosure
- Information on Brokerage Services
- Other applicable disclosures
- Set time for my assistant to come in
- Measuring room dimensions
- Taking photos
- Listing features and amenities
- Setting up the listing
- Input into MLS (Multiple Listing Service), my personal website and all other websites weuse, including Realtor.com
- Install the sign in the yard and the electronic keybox on the door
- Display full color flyers and disclosures inside home for buyers to keep