Understanding what happens when signing the listing agreement

Lawrence Juntti
Lawrence Juntti
Published on January 29, 2018
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Have you ever noticed that information and advice for first-time home-buyers is plentiful across the internet?  But what happens when you look for that same information and advice for first-time home sellers?

Crickets, that’s right nothing!

While buying a home, for the first time, is somewhat confusing – until the process is explained; selling one for the first time is even more so.  This is a huge investment you’re selling.  How much will you make, and when?

Believing that knowledge is power, I’m always happy to share my real estate knowledge with my clients.  You should be aware of every step in the process, so that you never have to wonder what happens next.

It starts with understanding what your plan is.  Is it your primary residence, or is it a second home?  Are you buying another home locally – or across the country?  Of course we will need to know what you will receive from the sale, and will it be enough to follow through with your plan? 

Signing the listing

Once you understand what happens after you sign the listing agreement, and what is expected of you during this time period, you can relax into the process.

Although you won’t see the behind the scenes activity, there will be plenty of actions put into play to sell your house.  Activities, from getting the home into the Multiple Listing Service database, dispensing the listing information throughout the internet, setting appointments and following up on showings – for feedback.

So, for anyone thinking of selling a home, here is what you can expect before, during and after you sign the listing agreement.

The pre-showing period

While discussing the sale of your property, I will suggest ways to improve the home’s curb appeal.  If needed, give you some tips on how to stage the interior to appeal to the greatest number of potential buyers.  l will also make suggestions of repairs that will help the home sell quicker and for more money.  You know, those little things that you forgot or didn’t know about.

During the listing process, and shortly after, I will be doing the following:

  • Ensure that we have all the pertinent information about the HOA, if applicable.
  • Collect a key from you for the lock-box.
  • Talk to you about your current mortgage – is it assumable? Are you considering owner-financing?  Do you have a VA loan?
  • I will walk you through the showing and appointment process.
  • Advise you how to guard your valuables and what to do with your pets and ask you if there are any restrictions on showing the home (times that you just cannot leave the home).
  • Provide you with the required disclosure statement forms.

After leaving your house with the listing agreement, l head back to the office and get to work.  While you’re preparing the property for showings, I will entering the listing into the MLS system and the Century 21 database, ordering a for sale sign, setting up a lock-box with a key to your house for showings, and as an on going process verify all collected information. 

Sometime during the listing process or shortly afterward, I will take photos of the property, both interior and exterior, to including with the listing selecting photos which highlight key selling features.

Once the photos and information are in the MLS, your home is officially on the market and all other real estate agents in the area will have access to the information and can begin showing your home.

Seller’s Disclosure Statement

The Seller’s Disclosure Statement is one that all sellers must complete. Although we cannot fill out the form for you, we’re happy to assist you if you have any questions.

Seller disclosures are serious business; it is your most important duty when you sell your home. It may seem that by being brutally honest about known problems you may be sabotaging the sale, but you are actually protecting yourself from future legal liability.

While the home is on the market

 While the home is on the market you will need to keep it tidy and keep your valuables locked away.  Leaving the home while it’s being shown is a nuisance, but necessary – if you hope to sell the home quickly.  I know it’s tempting to want to tell folks about the improvements that you have made and to view how the showing is going for yourself. 

But trust me, you being there will have a negative affect on the showing.  The buyer and the buyer’s agent will not feel comfortable to; “feel the home”, to discuss what they like and don’t like about the property, and will instead rush through the showing just to get it over.  

During this time I’ll keep you apprised of the listing status, showing feedback and any offers made on the property.  Of course, you are always welcome to contact me to touch base.

 

There’s a lot more to selling a home than sticking a sign in the yard with a box of pretty fliers attached to it. Please don’t hesitate to contact me if you have any questions.

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