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Monday, January 26, 2015

Choosing a Real Estate Agent to Sell Your Viera, Florida Home. Step Four - Decision made, the Listing Agreement and more!

After going through the process of choosing a real estate agent to sell your home then comes the paperwork - the listings agreement and a few others papers!  Most of these comments regarding the specific process refer to the local Brevard County, Florida area and the way I approach listings.

The listing agreement is your  real estate agent's employment agreement It states exactly what your agent's responsibilities to you as well as your responsibilities as a seller.

The listing agreement identifies the exact property you are selling and the listing price.  It identifies all the items that go with your property (generally, if it is permanently attached, it is part of the house).  If something is not being included  like a chandelier or fixtures, replace them before listing your home.

The listing agreement has a specific start and end date.   My preference is for a ninety day listing agreement while some will attempt to get a six month listing.  Don't worry about the length of time as long as you insist on including a way to cancel the listing.  I always include a simple "you hired me, you can fire me" clause that lets the seller end the agreement without penalty at any time.

The listing agreement will identify the type(s) of financing a seller will consider such as VA, FHA, conventional, etc.  In the rare case of seller financing, the listing agreement identifies the terms as well.

Another key part of the listing agreement is the real estate agent's professional fee a seller is willing to pay.   This fee is customarily split 50/50 with the buyer's agent.

Also it discusses how any retained deposits will be handled as well as how any disputes will be resolved.  This is critical.

KEY POINT:  As with all things THESE ITEMS ARE ALL NEGOTIABLE.  There is no standard fee.

Another part of the paperwork will be a seller's property disclosure.  I always use them even though you are not required to use the form here in Florida.  However,  sellers are required to disclose anything that materially affects the value of a property.  The best way, in my opinion, is to do it in writing.  

Once all the listing paperwork is completed, copies distributed, then the work starts.  Selling a home is about the Three Ps of Selling:  Pricing, Reparation and Presentation.

If you are considering selling your Viera, Florida home, please let me help you.  If you know someone getting ready to sell their Melbourne, Florida home, please give them my name.  Better yet, send me an email and I will give them a call.

DISCLAIMER:  I am not an attorney.  The Florida Real Estate Listing Agreement I use is an approved form as are any additional addenda.  As a non-attorney I do not draft documents or interpret these forms.  Sellers and buyers are encouraged to speak with their own attorney, tax advisory person or professional as needed.

Here are links to the first three posts about choosing a real estate agent to sell your Viera, Florida home.

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