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Home sellers need to read each line of an agency listing contract

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Do not arbitrarily sign off on an agency contract to sell your property. It is in your best interest to take your time and read each line of the agency agreement. Take each line as factual information. It is not a kinda, maybe or sometimes we do it differently, situation.

Trust in your real estate agent or broker is crucial for the magnitude of this transaction. Let’s face it, it is a lot different than selling a bicycle. Information received verbally from the real estate agent or broker is essential. The agency contract is concrete. Do not feel rushed or compelled to sign a contract without reading it all the way through. It is advisable to have it reviewed by an attorney. The ultimate issue is understanding exactly what your obligations are as well as those of the broker. The content of a real estate agency listing agreement will vary from state to state and broker to broker. Do not assume it states the same thing you may have signed with someone else in another time and place.

Termination of an agency listing agreement may also require a written notification sent to the broker via certified mail with a return receipt requested. The initial contract may state if a potential buyer viewed the home during the term of the initial contract and you have committed to a new real estate agency, you may owe an additional commission to the original listing broker’s agency. The initial real estate agent or broker may have previously presented your home to the end buyer within a specific time period after termination, which may constitute an additional commission fee you will be responsible to pay.

Comprehension of details is insurance against misunderstandings. Choosing the real estate agent exhibiting patience and guidance will support you and your decisions. You hire an expert to lead, direct and monitor you through this process. An extensive interview and a thorough review of their professional track record will offer insight to a real estate agent’s ability to professionally manage the sale of your property while protecting your best interest.

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