17 Mar What You Should Know Before Signing A Listing Agreement to Sell Your Cincinnati Home!
Brett offers 4 Tips on what you should know before you enter into a listing agreement as a seller. You should first know, however, all terms of a listing agreement are negotiable. Whether an agent says his broker will or will not allow it, if you really push back and they want your business, you may be able to reach an agreement of some sort.
So take notes, here are four questions or terms you should question your Realtor about before signing an agreement.
1. What is their cancellation policy. What happens if you become unhappy with your agent – are you stuck working with them for another 4-6 months? This is a real scenario that happens frequently when working with unprofessional agents. Brett will always allow you to cancel a contract if you are unhappy with his services. He can offer this because he is confident in his performance and hasn’t had to cancel a contract yet. If your agent can’t say the same, it may be time to consider another Realtor.
Discounting a commission can be a very sticky subject with a professional agent who knows their worth. But there are scenarios in which an agent might consider making a discount which bring us to:
2. Can I get a discount if I also use you to buy my next home? Here you are giving an agent a plausable way to make up the loss income by agreeing to use them as their representative when buying a home.
3. If I find the Buyer, will you Reduce the Commission? This may not get you a large reduction because the agent will probably still have some representation to perform in the sale and quite possibly assist on both sides of the transaction, but it could result in a small savings.
4. Are there any additional hidden fees? Can you Waive them. Some brokerages have instituted charging a fee on top of the commission and they are calling it a bunch of different names, i.e. document storage, transaction fee, technology fee and that just gets slipped by you while signing all of your listing paperwork. These fees are simply a way for the brokerage to make more money and if you push back on those, you may be able to get your agent to remove it from your final costs – which can be a savings of $200-$500, generally speaking.
If your agent gives you any push back on these items, feel free to contact Brett. TREO does not charge “fluff” fees and if there is a way to save you a few dollars and still be a win/win for both of us, we will talk!
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