Finding an agent who will sell your home using a range of marketing tools to get you the best deal possible in a reasonable amount of time, all while charging a fair rate, takes some effort. Interview at least three candidates before you sign a contract.
Listing Agent will
Recommend the appropriate listing price. Agents have access to important information on sales of comparable houses – including more recent sales information than is publicly accessible online — and will suggest a list price that they think will best attract buyers to your home. It’s to an agent’s advantage to sell at as high a price as possible (in order to get the highest commission), so if the recommended price is less than you hoped, remember the agent is either being realistic, or deliberately setting the price low in order to bring in prospective buyers and perhaps prompt some competitive bidding. If you overprice your house, it may sit unsold for months, until no one wants to look at it anymore.
Help you prepare the house for sale. A good agent will have lots of advice on how to make your home look its best to buyers. Depending on your house, market, and budget, an agent may recommend you hire a stager to transform your house or simply suggest a little de-cluttering. One agent we know spent three hours, going room by room with her client, providing detailed advice from what furniture to put in storage to what color towels to put in the bathroom. (The agent’s advice worked, because the seller got an offer the first day the house was on the market). Agents can also provide useful referrals to painters, carpet cleaners, and repair people who can help ready your house for sale.
Advertise the property for sale and showing it to prospective buyers. You want as many buyers as possible to know that your house is on the market—and better yet, to want to see it. Agents typically arrange to have the house photographed (inside and out); write ad copy, and advertise the house by posting online (in the Multiple Listing Service, or MLS, and other sites); send out flyers, hold open houses, or whatever is appropriate to your house and market. The agent will show the house to interested buyer privately, and/or at open houses.
Ensure buyers receive proper disclosures. Your agent will explain state disclosure rules (and local ones, if required) and give you the forms that meet legal requirements. If, however, you feel uncertain about what needs to be disclosed, this is a good time to consult with an attorney.
Review offers and negotiating a deal. Hopefully, your agent’s advice regarding price, staging, and marketing your house will pay off and you’ll have at least one or two offers to consider. Your agent will review all the details of offers with you, especially any contingencies, such as buyer financing and inspections. See the Nolo article “Contingencies to Include in Your House Purchase Contract” for details. Your agent will explain areas of concern regarding the buyer’s offer and advise you on how to respond (perhaps by counteroffering on the price or other terms). If you accept an offer, your agent will work with the buyer’s agent to iron out the terms of the deal.
Make sure everything gets done by the closing date. Once you accept a buyer’s offer, there are still many steps leading up to the closing, such as assuring that all contract contingencies are met and released by the dates stated in the agreement. Your agent will work with you, the buyer’s agent, and other professionals involved in the transaction (such as an inspector or a real estate attorney) to coordinate all this.