Realtor Offers a Tip When Entering Into a Listing Agreement

If you are buying or selling a home in today’s tough market you probably have questions and may find it helpful to get some advice from a real estate expert who regularly answers questions asked by homeowners. Here are some great questions that are commonly asked by people just like you.

We are putting our home on the market soon and are currently interviewing real estate agents. How long should we expect our listing agreement to be?

One agent wanted it for a year, but that seemed too long. I don’t really blame the agent for asking for a year because in today’s market it is taking a bit longer to sell a home than it did a few years ago. But truthfully, the issue really is how difficult is it to get out of the agreement, if for some reason you want to? For instance, my agreement is for 180 days but I have an overriding statement that says if for any reason you want out of the agreement you may do that with 48 hours of notice at no cost to you – make sure that there is no cost to you. Because sometimes it’s not a good match, or sometimes you just get tired of the effort and you want to get out of the arrangement.

The main issue is not how long the agreement is, but how easy it is to get out of it if needed. We’ve heard that when buying a home everyone should have their own agent to represent them. How do we know who to choose as our agent? Are there specific questions to ask an agent when making that decision? Well I may be prejudiced because of being in the business for 25 years, but I think it’s really crucial to have somebody represent you. So many times – especially with first time buyers – people will just go with the agent who had the home listed or they just call the person listed on the sign with no investigation into that person’s qualifications. It’s a big decision and you wouldn’t hire an attorney or a doctor that way; you’d want to investigate them and make sure that they were successful in their trade.

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