Many homeowners who hire an agent to sell their home don’t have a clear understanding of the responsibilities of each party. This often leads to less than ideal results.
When seller and real estate agent address their proper duties, good things happen. When a property is placed in the hands of an agent, a partnership is formed. At the onset of any partnership, it is important that the duties of each partner be identified. The agent should provide market facts and advice for proper pricing. After the price is set, the agent should also begin an aggressive marketing plan. Once an offer is received, the Realtor should represent the seller in the negotiations and attend to the many details of closing the sale.
What are the duties of the seller?
PRICING: Although the agent knows what the market will bear in terms of price, it is ultimately the decision of the owners to agree upon an asking price. This is where costly mistakes can be made. Some owners choose to set an asking price that ignores the facts. This decision often dooms the chance of selling the property. The asking price must be high enough to give the seller the highest possible return and reasonable enough to attract buyers.
SHOWINGS: There’s an old saying that a house for sale is no longer your home. The house must be available when buyers want to see it. Many sales have been lost because sellers were not flexible enough to show their home on short notice. A lockbox should be placed on the house so that the home can be seen while the owner is away. An absentee owner is crucial so the buyer’s agent is free to overcome the buyer’s potential objectives as they walk through the home.
APPEARANCE: My last two columns have dealt with first impressions and how home sellers never gets a second chance to make one. It is imperative that the house is kept in showing condition. Only the owner can control the appearance and appeal of the home. The three basic factors are cleanliness, décor and maintenance. Cleanliness will always be the most important factor and the seller must keep the house in show condition to appeal to the most discriminating buyers.
ADVICE: You will never go wrong partnering with a professional Realtor when selling your home. Taking advantage of their experience and allowing them to direct you to do your part is sure to lead you to the success you expect and deserve.
