Details of a Listing Contract

Obviously the name of the seller and the property address will be included in the listing contract. There are many other things that are included, too, and you should be aware of them.

When setting the terms of sale, the main thing you are concerned with is the price. You should have a basic idea of what your home is worth by keeping track of other sales in the neighborhood.  Exercise great care in determining your asking price, making sure not to set it too high or too low.

In addition to the price, you will disclose what personal property, if any, goes with the house when you sell it. Personal property is anything that is not attached or fixed to the home, such as washers, dryers, refrigerators, and so on.

The Listing Contract gives extensive detail about your home and outlines the agents agreement with the seller......your agent will review the papers with you.

A lockbox is a basically a padlock with a cavity inside where a key to your home can be placed. Only someone with an electronic key or the combination can get into the lockbox and access the key. Having a lockbox available at your house makes it easy for other agents to get access to your house.

Without the lockbox, agents representing buyers would have to set appointments to meet you or your agent at the house so they could gain access and view the home.

The listing contract specifies whether you allow a lockbox or not. It is locked into place, usually on the front door and cannot be removed. Only other agents can access the key that is located within the lockbox.

Talk with Doug Burley about agent showing instructions for your home.

In most areas of the country there is a certain percentage that real estate agents expect to earn as a commission/fee. This commission amount is a certain percent of the sales price. When completing the listing agreement, you and your agent will agree on the amount of the real estate commission.

Be sure to understand the terms: listing side, buying side, co-op and how they relate to the breakdown in fees.

Doug is experienced in dealing with disagreements or disputes. As a licensed professional Doug attends continuing education classes that cover many of today's real estate issues.  Never hesitate calling to ask any questions about any part of the process.  Should need be,  Broker/ owners can be included in discussions.