43.3 F
Naperville
Friday, March 29, 2024

On the House – THE PARTNERSHIP ROLES OF THE SELLER AND THE REALTOR

-

From a legal point of view, the owner of the property is the principal and the Realtor® is the agent of the owner. Basically, the principal hires the agent to perform the task of marketing property to a prospective pool of buyers. From a practical perspective, however, the relationship is more involved than it might appear.

No property can be successfully marketed without the active and co-operative assistance of the property owner. The Realtor can’t do it all alone. If a seller hires a Realtor and then sits back and does nothing, the chances of a sale are greatly diminished. The relationship really resembles something much like a partnership with each party having certain duties and responsibilities that are vital and can only be performed by one person or the other. Here are the respective duties of the seller and the Realtor:

The Duties of the Seller – One of the most important decisions that must be made at the outset is the amount of the asking price. The seller has a right to receive all the recent market data so as to make a reasonable pricing decision. As difficult as it is to be objective about your own property, the seller must agree to a price that will attract buyers and not drive them away. The condition of the property is also entirely in the hands of the seller. Will neglected decorating items and repairs be made in order to make the home as appealing as possible or will the seller decide not to put out the extra effort to get top dollar? Finally, the seller should allow the Realtor to use all possible marketing tools including a “For Sale” sign, Internet presence with virtual tour, multiple listing, lock box, and open houses.

The Duties of the Realtor® – The Realtor must provide recent market data showing all past sales and other homes currently for sale that would be direct competition for the property. Available multiple listing services should be used to promote the property to area Realtors. “For Sale” signs, Internet listing with virtual tour, open houses, and Realtor tours should be arranged. The Realtor also should provide expertise in the negotiating of an offer and eventual closing of the sale.

Advice: Listen to your Realtor®. Though this may not be the first home that you have sold, it is most likely been a few years since you sold your last home and the real estate industry is changing drastically every day. Only a dedicated, full time Realtor can provide the service that you need to be successful in selling your home. The service you deserve…

Stay Connected!

Get the latest local headlines delivered to your inbox each morning.
SUBSCRIBE
- Advertisement -
Gary Leavenworth
Gary Leavenworthhttp://www.garyleavenworth.com/
Gary Leavenworth is a senior Realtor associate and team leader of the national award winning Leavenworth Team of Coldwell Banker Realty and has been serving Naperville’s real estate needs since 1982 with a career volume of over $400 million in closed sales!  If you have a real estate question, email Gary at gary@garyleavenworth.com or call/text him directly at 630.885.1565.

LATEST NEWS

DON’T MISS OUT!
GET THE DAILY
SQUARE-SCOOP
The latest local headlines delivered
to your inbox each morning.
SUBSCRIBE
Give it a try, you can unsubscribe anytime.
close-link

Stay Connected!

Get the latest local headlines delivered to your inbox each morning.
SUBSCRIBE
close-link