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In
the course of listing your home for sale, you will be presented
with certain agency forms, which are described below:
Florida law requires that a Notice of Non-representation
should be provided to you at your first contact with a Realtor,
and in any case, before any confidential information is discussed.
Although the state does not require this to be signed, many
companies will ask for your signature so that they can have
evidence in their files, in the case of an audit by the State
of Florida, that they did provide you with this notice. Signing
this does not obligate you to anything, and the form is essentially
to notify you that you are not represented until you choose
and agree to a brokerage relationship.
The Brokerage Relationship Disclosure
that you will then be asked to sign signifies your choice
of an agency relationship. Unless this is signed, you continue
to be not represented. The form given has precise wording
required by the State of Florida. The form has three sections:
Single Agent Notice. When this agency
is selected, you are owed the following duties: dealing honestly
and fairly; loyalty; confidentiality; obedience; full disclosure;
accounting for all funds; skill, care and diligence in the
transaction; and presenting all offers and counteroffers in
a timely manner, unless a party has previously directed the
licensee otherwise in writing.
Transaction Broker Notice. When you
choose this limited form of representation, you are owed the
following duties: dealing honestly and fairly; accounting
for all funds; using skill, care and diligence in the transaction;
disclosing all known facts that materially affect the value
of real property and are not readily observable to the buyer;
presenting all offers and counteroffers in a timely manner,
unless a party has previously directed the licensee otherwise
in writing; limited confidentiality, unless waived in writing
by a party; (this limited confidentiality will prevent disclosure
that the seller will accept a price less than the asking or
listed price, that the buyer will pay a price greater than
the price submitted in a written offer, of the motivation
of any party for selling or buying property, that a seller
or buyer will agree to financing terms other than those offered,
or of any other information requested by a party to remain
confidential); and any additional duties that are entered
into by this or by separate written agreement. Limited representation
means that a buyer or seller is not responsible for the acts
of the licensee. Additionally, parties are giving up their
rights to the undivided loyalty of the licensee. This aspect
of limited representation allows a licensee to facilitate
a real estate transaction by assisting both the buyer and
the seller, but a licensee will not work to represent one
party to the detriment of the other party.
Consent to Transition from Single Agent
to Transaction Broker. Florida law allows real estate
licensees who represent a buyer as a single agent to change
to a transaction brokerage relationship in order for the licensee
to assist both parties in a real estate transaction by providing
a limited form of representation to both the buyer and the
seller. This would apply if your agent or your agent's company
also represents the seller of the home you wish to purchase.
The
brokerage relationship disclosure may be incorporated into
the listing agreement, but must not vary from the wording
required by the State of Florida.
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The Realtor you choose should be experienced
in marketing and selling homes like yours - the price range,
the neighborhood. This is important because the Realtor needs
to understand and empathize with the prospective buyer; needs
to understand the value of the various amenities of your property
and be able to explain them; needs to be aware of the sources
of financing for your type of property. You want a person
who knows your neighborhood, but one who will also be aggressive
in marketing and who will have sources of potential buyers
from outside the area. The days of just putting it in the
MLS and putting up a sign are long gone as an effective means
of marketing. Choose an agent who is responsible and responsive,
ethical, and who treats real estate as a profession. Track
record is important.
Increasingly, situations arise between contract
and closing that require experience and persistence. Be sure
to hire an agent who has those.
Look
at Interview Questions for a Real Estate Agent
to Sell Your Home for some questions to ask in the process
of choosing an agent. Once you have chosen the agent, you
should jointly address the listing price, the expected sale
price, the commission rate and the term of the listing. Do
not feel awkward about asking for a resume or for references
of past clients - after all, you are hiring this person to
perform a service for you! Consider not just the price
of the service, but the value of the service.
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Name of Agent
Name of Company
Are you a member of the Association of Realtors?
Are you a member of the Multiple Listing System?
Is this your full time occupation?
How long have you been in the business full time?
Do you have a brokers license?
What professional designations awarded by the National Association of
Realtors do you have (GRI, CRS, CRB, CCIM, CIPS, CPM, CRE, LTG, RRC)?
What awards/recognitions have you received?
How easy is it to reach you?
What educational courses/seminars have you taken in the last year
to stay current?
What referral networks do you belong to?
What professional real estate organizations do you belong to?
What price range do you specialize in?
What type of homes do you specialize in?
What geographic areas do you specialize in?
What technologies do you use?
Do you have one or more personal assistants? Full time for you?
How long has he/she been with you?
What are his/her qualifications?
Where do you advertise, and how often?
Where and how do you advertise on the Internet?
Do you hold Open Houses? How often?
Do you advertise in the Real Estate magazines?
How does my home fit into your overall marketing & advertising plan?
Do you follow up on showings? How?
What is your system for communicating with us?
What was your sales volume last year? How many transactions?
How many listings do you have?
How many of your listings sold last year?
How many did you sell yourself?
How many other homes did you bring buyers for?
How many listings do you have in this neighborhood?
How many of them did you list last year?
How many of them did you sell yourself?
How many other homes in this neighborhood did you bring buyers for?
Who do you represent?
What is your marketing plan?
Why should I choose you to market my home?
These
are the questions to ask in the process of choosing an agent.
Once you have chosen the agent, you should jointly address
the listing price, the expected sale price, the commission
rate and the term of the listing. Do not feel awkward about
asking for a resume or for references of past clients - after
all, you are hiring this person to perform a service for you!
Consider not just the price of the service, but the value
of the service.
The
Realtor you choose should be experienced in marketing and
selling homes like yours - the price range, the neighborhood.
This is important because the Realtor needs to understand
and empathize with the prospective buyer; needs to understand
the value of the various amenities of your property and be
able to explain them; needs to be aware of the sources of
financing for your type of property.
Increasingly,
situations arise between contract and closing that require
experience and persistance. Be sure to hire an agent who has
those.
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First impressions count, and you have only
one chance to make a first impression on a prospective buyer
and/or on a prospective Realtor.
Curb appeal is often what makes the decision
on whether a prospect even wants to look inside your home.
Have the grass mowed, trimmed and edged; have any planting
areas weeded and neat - add new mulch if it's needed. Check
the shrubs to see if they need trimming - be sure they don't
hang over the walkways or make people duck or detour. Pick
up any clutter, or things left from prior jobs. Move the trash
can so it's around on the side of the house. Work on removing
stains - oil stains, rust stains, mildew. Remove any bees'
nests, spider webs, cobwebs. Be sure the front entrance is
clean, sparkling and inviting. Polish the door hardware. Make
sure the door operates smoothly - that it opens and closes
easily. Add some color - potted flowers, live or silk, for
example. You want your home to call out to people, "Welcome
Home!"
Clean your closets, and put away the things
you haven't used or worn in months - give the impression of
extra space. Straighten out your kitchen cabinets and do the
same thing. Let the prospect see some space. Look at your
counters - remove the clutter, and just leave a few things
out. You're going to have to pack everything when you sell,
so start doing some now. Rent a small air conditioned storage
unit if you need to. Do you have any large collections? Think
of packing them now as well. After all, you want the prospect
to remember the house, not your collection.
Take an afternoon off and look at some model
homes - see how the decorators have staged the homes, what
they have on counters and tabletops, how they use plants.
Which ones have the most appeal - can you tell why? Then take
a Sunday afternoon and visit Open Houses. Notice what they're
doing right or wrong to show off their home. By visiting the
homes in your own neighborhood you can also check out the
competition, and see what other homes prospective buyers will
be looking at that are similar to your home. (It's also a
good way to check out prospective Realtors to list your home:
look at their marketing materials, notice how they relate
to prospects, check their knowledge of your neighborhood -
including other homes on the market and homes that have sold.)
Scrub your bathrooms - re-grout any tile that
needs it, and clean any tracks and fixtures - you want everything
to sparkle. Buyers don't want to be reminded that there is
work to do with a home. Fix any pipes that leak, or faucets
that drip.
Clean the carpet, or consider replacing it.
Fresh paint and new carpet do a great job of selling a home
- that's why the relocation companies do that right away when
they acquire a home.
How does your house smell? If you have pets,
or if you smoke, ask a friend who doesn't, to give your home
the smell test. Your nose may have become conditioned over
the years. Potpourri can only do so much. Smoke can also stain
the walls and ceiling, so if you are painting walls that have
been subject to this, be sure to treat them with something
like Kilz before you apply the paint, or it may bleed through
before you even sell the house.
Walk around the house as a critical inspector
would. Are there torn screens? Sections of gutter that have
separated and are hanging down? Wood trim that has begun to
rot? Fix them now.

- Do
you have floor plans, blue prints, promotional literature
from the builder or developer?
- Survey
of the property?
- Appraisal
of the property?
- Copies
of homeowners insurance, flood insurance and wind insurance
(if applicable).
- Copy
of your drivers license.
- 2
sets of house keys.
- Code
to security system - primary and backup.
- Mortgage
information: loan number, name and address of lender (s),
approximate loan balance.
Have
you made any improvements to the property? List approximate
date and cost. Have you replaced the roof? Air conditioner?
Appliances? List approximate date and cost.
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Each agent may have a different marketing
plan for your home, which you should receive at the listing
appointment. This will address some of the more common aspects.
The first step is to decide whether to hire
a Realtor or whether to market your home yourself. If a Realtor,
you must then choose one. Refer to the Interview Questions
for questions to ask, then add any of your own.
Do any painting, repairs or planting needed
to bring your home into top condition before putting it on
the market. The first days and weeks are the most important
and first impressions DO matter. Better to put off listing
for a week or two than to have prospects and Realtors remember
your home in its "Before" condition. See Preparing
to List Your Home for some suggestions.
Once you've signed the listing papers, and
given your Realtor the key, the first shock will come when
you see the FOR SALE sign in the yard - and yes, you should
have a sign. Hopefully you'll notice people slowing down and
writing down the number on the sign. Your Realtor may have
also suggested that you have a lockbox on the door.
Next come the prospects to look at your house.
Although you like to know the day before the showing, try
to be flexible if there is a last minute request for showing.
Keep the house tidy and ready, just in case. See
Preparing
to Show for additional suggestions. Plan to be away for
the showing. Your agent should be checking with the showing
agent to get feedback and passing this on to you. It's good
to have a third party (two of them, actually, the showing
agent and your listing agent) who can follow up with the prospects
without appearing too eager, and who have an opportunity to
counter any objections.
Hopefully, one of the prospects will like
your home enough to make an offer. Based on the sales prices
of similar homes your agent will help you in evaluating the
offer, including the terms and conditions, and will work with
you on strategy.
Once you have a signed contract for the sale
of your home, time starts to fly. The Buyers will arrange
to have a professional inspection of your home - a process
that may take 3-4 hours for the average sized home. Often
the Buyers will be there for the inspection, as well as one
or both of the agents. It's natural to feel a bit overwhelmed
at all these people "taking over" your house. The
buyers may want to bring in some contractors or salespeople
at this time, too, to measure for some of the changes they
want to make in the home - new carpet, tile, appliances… After
they have received the written inspection report and have
reviewed it, the Buyers will put in writing any items they
feel are not in proper condition, or will remove the inspection
contingency. Sometimes the main report will suggest an additional
inspection: the roof, the pool, perhaps even a structural
engineer. Your agent should help you through this entire process.
Meanwhile you should be making arrangements
for moving, perhaps for storage, and perhaps looking for a
new home as well. Wherever possible, add a clause in any contract
you sign making it contingent on the closing of your home.
Arrange early for the utilities to be turned
off on the day of closing. In many cases the Buyer cannot
even order a telephone until you have called to order your
service disconnected.
The
process is much smoother if you can move out a day or two
before closing. This allows you to check the property thoroughly
after the movers leave, and to clean it or have it cleaned.
It also lets the Buyers do their walkthrough when the home
is empty. The purpose of the walkthrough is for the Buyers
to check that all items which were to be left in the property
are still there (ceiling fans, refrigerator, etc.) and that
any repairs that should have been made have been made. (Keep
your receipts from all of these repairs so that you can bring
them to closing - don't pack them, and don't pack your garage
door openers, the instruction books for your appliances, or
those extra keys.) Then go stay in a nice hotel and relax,
or spend your last couple days with good friends or neighbors.
Relax a bit after the packing and rushing around, and be ready
for a pleasant closing the next day. If you want to review
all the papers you will be asked to sign at the closing, make
arrangements to go in an hour or two before the closing, or
early in the morning of the closing, to review them, then
you'll be ready for a smooth closing. Remember to bring the
garage door openers and the keys to the closing. You'll be
turning them over to the Buyer when the papers are signed
and you get your check. It is customary in this area that
possession be turned over to the Buyers at the closing.
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Plan to
be away from the house when it is shown. If you cannot be
away for the entire range of time the prospects are expected,
at the very least, disappear when they arrive - go for a walk
around the neighborhood, or drive your car a block away and
wait until the prospects leave to return. If all these are
impossible, make yourself as invisible as possible on the
dock, in the garage, or in a spare bedroom. And please, please,
do NOT tour them around the house, or start explaining the
features, or finding common conversation. If you have done
a good job choosing your real estate agent, you will not need
to do these things.
Turn ALL
the lights on.
Open ALL
the window treatments, even the sheers.
Have the
house at a comfortable temperature.
Have some
soft background music playing - "elevator" music,
or soft classical or soft jazz. The music is to set a stage,
not for listening.
If there
are extra vehicles that aren't in the garage, park them down
the street during any times that prospects are expected! The
same applies for boats, trailers, bicycles, golf carts and
anything else that might imply there isn't enough storage
space with the property.
Pleasing
extras - optional but nice:
- Fresh
flowers
- Freshly
baked bread
Be sure
counters are cleared and clean, beds are made, towels are
hung up. At least for the time of the showing, it's not for
living in, it's to impress potential buyers.
(You've
done all the things listed in Preparing to List
Your Home, haven't you?)
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