Classes In Real Estate

There are several different types of listing contracts. Few of them are detailed below:

Open Listing

This type of listing is when you, the seller, don’t want to commit to any one particular agent and when you are also open to selling the home by yourself. This type of listing with an agent gives him the right to bring buyers around to view your home and should the deal go through, the agent earns a commission. This is a non-exclusive type of listing and the disadvantage of such a listing is that the agent is not going to spend too much on marketing your home or putting it in the Multiple Listing Service. The advantage of this type is that, should you find a buyer yourself, you would save on the commissions that would otherwise go to the agent.

One-Time Show

A “one-time show” is similar to an open listing and is most often used by real estate agents who are showing a FSBO (for sale by owner) to one of their clients. The home owner signs the agreement, which identifies the potential buyer and guarantees the agent a commission should that buyer purchase the home.

Exclusive Agency Listing

This type of listing would have you sign on with only one agency / agent and would ensure they get the commission if another agent brought a buyer for this place. However, if you get a buyer on your own, the agent is not entitled to any commission. This is not a popular type of listing agreement. Some unethical buyers or sellers will try to cut out the agent, even though it was an agent that brought the buyer to the home.

Exclusive Right to Sell

This type of listing involves entrusting your agent with the exclusive rights to sell your home. Regardless of who sells the home, even if you sell it yourself to a friend at work, your listing agent will earn a commission. Such listings usually give an agent to spend on marketing your house and also listing it on the MLS.

Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Real Estate Portal for Home Buying, Home Selling and Home Renting. The website is a useful resource of Home Listings, Articles and Information related to real estate.

Share This

Maybe you’re moving to a larger home to accommodate a growing family, relocating for a new career opportunity, or purchasing a townhouse for retirement. Whatever the reason for the move, you’ll need to take the necessary steps to sell your home for the best possible price, within a reasonable amount of time. Where do you begin?

If you’re like most people, you’ll start by seeking assistance from a professional. A local real estate sales associate, who knows your neighborhood, can help you determine a fair market price. The sales associate should also recommend the extent to which you should make repairs or improvements to your house.

In order to select a real estate professional who’s right for you, ask family, friends and neighbors for referrals. Attend open houses and interview several sales associates to find out how professional or experienced they may be. Get a written outline of how they plan to market your property and the services they will offer you.

Once you’ve identified a qualified professional, the rest is chemistry. Is the sales associate someone with whom you would like to work closely? Do you feel comfortable with the sales associate as your partner, working with you to give you advice and acting as your representative? Does he or she practice a consultative selling approach, focusing on the long-term client relationship and on the importance of exceeding client needs and expectations or is he or she caught up in the proverbial ‘hard sell?’

The brokerage firm that your agent is associated with is also important. Research the firm’s success rate and commitment to quality service. Does it survey existing clients in order to ensure customer satisfaction? What are the results of those surveys? How in tune are they with consumer needs? Do they offer guidance with mortgages or any discounts for other home related or moving services?

“To be competitive in today’s real estate market, as agents, we have to offer the buyer/seller products and services above and beyond the sale. That’s why the CENTURY 21 System has established partnerships with various companies that allow us to offer everything from mortgages to moving services. This Preferred Alliance Services Program has enabled us to satisfy a consumer need while maintaining a high-level of quality service.

Determining your home’s fair market value is one of the most important decisions you’ll make during the home-selling/buying process. Your sales associate can help you set a fair price based on local market conditions. For instance, she or he will provide sale prices and other statistics of homes similar to yours that have recently been sold. Prospective buyers will be comparing your home to others on the market. Therefore, setting a comprehensive price can determine if your property will or will not sell.

For the first offer made, it’s rare that the prospective buyer matches the asking price. If the offer is reasonably close to the asking price, carefully consider the offer before you consider turning it down. Curiously, it’s the first offer that can often be the best offer. If the first offer is unacceptable to you, it may in your best interest to have your sales associate respond with a counter offer. Whenever considering an offer, ask yourself if you would purchase the property for the amount being offered. Always be willing to negotiate, especially if the prospective buyer is pre-qualified for a mortgage.

Once you decide what terms are acceptable, let your sales associate negotiate with the prospective buyer to work out the best agreement for you. You’ll need to be patient while the buyer arranges financing and as the real estate company compiles and prepares pertinent data.

Careful planning and sound advice from a real estate professional can make selling your home a very satisfying experience.

About The Author

W. Troy Swezey is the author of “MOVING ON: POWERFULTIPS FOR SELLING YOUR HOME.” As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, “REAL ESTATE SECRETS EXPOSED.” http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net

Share This

If you had finally decided to move your family into a new place because your new job is asking for it, it may come to a term that you will sell your house. By applying several simple techniques and tips, you can actually sell your home without the help of a real state agent. Since you’re moving with your family, selling your home can help in finding and purchasing a new house.

However, in selling your house, it will take hard work and commitment from you. Precisely, you can’t always find buyers in an instant. So, you must take the right strategies in order to increase the chances in getting your home to be sold.

Here are helpful tips that can help you in each way:

You must understand the status of real estate market.

Getting the current situation of real estate status is a great start. You must determine what kind of decisions you will make that can affect the sale of your house. If needed, you ask from real estate agents for considerable guidance.

Timing .

Timing is one thing that you can’t take for granted in the estate market since it comes with its high and lows. If you’re not in a hurry to sell your home, you can wait for the right buyer to arrive.

You can form a team of professionals.

Even if you know how to handle things in selling your house, it is advantageous to have specialized knowledge from sales agents as well as from real estate lawyers. They can help you on matters pertaining to selling and buying agreements.

Determining the selling price of your home.

The perfect way to determine the right selling price of your home is through a professional real estate appraiser.

Preparing your house to be sold.

You can set open house days to possible interested buyers. The house must be thoroughly cleaned.

Spread the news.

You can put a sign board in your front yard that can call attention from passersby. You can also make highlight sheets in outlining key features of your house so that you can distribute those to friends.

Learn some negotiating skills.

In negotiating, you and the buyer keep on exchanging offers. In discussing the price, it’s advised that you know the proper calculations of numbers are correct. If done right, you have the position to negotiate in a firm manner.

If all fails, go and ask from realtors.

If you didn’t get what you’re hoping for, you can list your house to any multiple listing services. It will cost you some fee however your house will be exposed to thousands of buyers across the country.

These helpful tips can give you the flexibility you always wanted in selling your home in such a way it could save or make thousands of dollars in your account.

Khieng ‘Ken‘ Chho - Online Home Selling Resources. For related articles and other resources, visit Ken’s website: http://sell-home.onew3b.net/

Share This