This web site has an abundance of information that will empower any homeowner to get more money on the sale of their home.
There are a few fundamental truths that will be explained in detail (some with examples) throughout the web site, but here are some of the main points:
The REALTOR® that you select to sell your home is called the “Listing Agent” and the contract used is called a “Listing Agreement”.
The REALTOR® that represents the buyer of your home is probably going to be another REALTOR®, most likely from a different real estate company. This REALTOR® is referred to as a Buyer’s Agent. In the Listing Agreement, the Buyer’s Agent is called the “Selling Agent”.
There is a saying known by just about every REALTOR® that goes “a home is worth what a buyer is willing to pay”.
REALTOR®s work on 100% commission.
“Open House” is a term used by REALTORs® to signify when a home (for sale) is available for buyers to see without an appointment. REALTORs® normally hold Open House on the weekend, when most buyers are available to look at homes. The homeowner is usually not home.
REALTORs® like to do an “Open House” because it is one of the best ways to pick up buyers. It is common for REALTORs® to volunteer to hold an Open House for another REALTOR’s® listing.
In the 16 years that I have been doing Open Houses, I never had one buyer purchase the house where we met.
Just about every REALTOR® wants to be the Listing Agent, because the homeowner is contractually obligated to sell their home with that REALTOR®.
Buyer’s Agents usually have no contractual agreement with their buyers. Those buyers can change REALTORs® as often as they like.
Listing Agents enter information and pictures into a system called the “MLS”, short for Multiple Listing Service. Within minutes, anyone with Internet access can see your property.
The vast majority of buyers don’t want to waste time looking through newspapers or magazines for a home. The search engines on real estate websites allow buyers to set filters to only see the homes that meet their criteria.
Buyers that cannot search the Internet usually have family or friends that can search the Internet. Young adults often assist their parents in a search for a new home.
When the homeowner and buyer agree on a price, terms and conditions, the Listing Agent and Buyer’s Agent often use Transaction Coordinators to handle the majority of the paperwork.