ARE YOU A MOTIVATED SELLER? YOU HAVE OPTIONS

So you’ve decided that your motivated to sell your house. There are many more options available than there used to be regarding HOW to sell your house.

Today’s real estate news seems to be filled with doom and gloom. However, motivated sellers have a lot of options. Learn more about these options in this easy to read 3 volume blog.

In volume 1 we’ll discuss the most traditional option for a motivated seller to sell is “Seller Agency”. This relationship is between a real estate agent and a seller in the brokerage of homes. The listing or real estate agent and the seller enter a written contact that specifies: home price, duration of agreement, commission, rights & obligations, duties, etc. Most commonly the listing agreements are "exclusive sale". This means that the agent/broker earns a commission even if the seller finds the buyer (in an exclusive agency agreement, the agent/broker must procure the buyer to earn a full commission).

In return for this commission, the listing Agent/Broker agrees to: assist in setting a selling price and negotiations, advertising/marketing including posting in the Multiple Listing Service (MLS), arranging open houses, fielding inquiries and organizing showings, prepare contracts, manage final transactions, all while acting in the Seller's best interests. The Listing Agreement usually specifies that the Listing Agent/Broker agrees to split, the total commission with a Buyer Agent/Broker who represents the Buyer if that applies. The cost of a traditional broker is 4% to 7% of the selling price of the property, that amount typically being split between two brokers involved in the transaction.

There are an exorbitant number of houses on the market keeping agents/brokers very busy. At the same time there isn’t as much commission to be made in this industry so there are fewer brokers/agents. This doesn’t allow even the best to work as effective or efficiently as a motivated seller would like. This isn’t the best option for everyone especially not the truly motivated sellers.