Listing Your Atlanta Home F.A.Q.’s & Hints

Tips on selling your home

Q: What is the difference between a REALTOR© and an Agent?

A: According to the National Association of REALTORS© there are about 2 million people licensed to sell real estate in the U.S. Anyone who completes an accredited real estate school and passes the real estate exam can sell real estate. Many real estate agents decide to continue their education by joining the National Association of REALTORS© (or NAR). NAR offers Agents a wide variety of classes and seminars and requires real estate agents to follow a strict code of ethics. Many real estate companies require their real estate agents to become members of NAR – just ask your real estate agent if they are a member. You should interview your potential REALTOR© – come up with a list of questions and work with the person who you feel most comfortable with (whether they are an Agent or a REALTOR©).

F.Y.I. all real estate agents at AtlantaHomeView.com, Inc. are required to become members of the National Association of REALTORS©

Q: What are some good questions for me to ask prospective Agent / REALTOR©?

A:  Here are a few questions that the National Board of REALTORS© suggests you ask your real estate agent. For a complete list of these questions, and for more information on what a REALTOR© can do for you visit the link to the National Board of REALTORS© website below (under Helpful Links).

            1. What experience do you have in my area?

            2. How would you price my home? Why?

            3. Do you see any areas of my home that you would recommend that I improve?

            4. How long do you think my home will be on the market given the selling trends in my area?

            5. How will your company market my home? What types of marketing in your opinion work? What types of marketing in your opinion do not work? Why?

            6. What is your fee?

Q: What is a Listing Contract - Why do I need one?

A: Answer, REALTORS© and Buyers often work together without a contract, if y ou are selling your home it is in your best interest to have a binding legal contract with your REALTOR©.
It is imperative that you read this contract very carefully. Don’t be afraid to ask questions and if you feel you need to consult an attorney you should do so –before you sign it . The listing contracts themselves can vary greatly from place to place. The good news is that most REALTORS© use standard pre-printed contracts. Anything on these pre-printed forms IS negotiable.

Q: What sorts of things are on the Listing Contract - What will benefit me as the seller?

A: There are 4 major areas of the listing contract that you as the seller need to think about. Keep in mind that everyone’s situation is different and you need to do what you think is best for you and what makes you comfortable.

            1. The Term of the Agreement – How long do I want to give this real estate agent to sell my house?

Usually the longer you agree to work with the real estate agent to sell your home benefits the real estate agent. If the market is slow its OK to extend the agreement with the real estate agent. However, if the market is hot in your area and you sign a contract with an real estate agent who is not selling your house you can get stuck. If you have signed a short contract with an real estate agent and you decide that they are doing a great job just sign an extension of the contract before the end of your first one. 
            2. Commission – How much should I pay?

The commission you pay your real estate real estate agent IS negotiable. However, there is usually a standard percentage that real estate agents in your area expect to receive. Usually real estate agents hope to receive around 6% of the sales price. Some real estate agents will ask for more some will ask for less. There are pro’s and cons to offering a higher or lower commission rate. Obviously if you are giving your real estate agent a lower commission rate that will save you money. A higher commission rate can offer your real estate agent more of an incentive to work harder to promote and market your home. Other real estate agents can see the commission rate on your Atlanta home in the MLS. The commission rate really shouldn’t be renegotiated during the purchase and sale agreement but sometimes if it will save a deal real estate agents will give up a little bit of their own commission.

            3. The MLS – Who is the MLS and why do I need them to sell my home?    

MLS stand for Multiple Listing Service. The MLS is a database of homes for sale that real estate agents use to promote your home. When you fill out a Listing Contract the option to list your home in the MLS is typically authorized. The MLS is a great tool and really gives promotes your home the widest number of potential buyers. However, if you are living in an exclusive community in Atlanta and you do not feel comfortable displaying your home in the MLS for security reasons you have the option to deny the real estate agent the authorization to list your house there.

            4. Lockboxes – What is a lockbox?

A lockbox is a tiny safe that holds the key to your home and is placed inconspicuously outside the door to your home. Agents who would like to show your home either have a special key or the combination to your lockbox. The real estate agent with the key/combination can unlock and show your home at any time – even if your or your real estate real estate agent is not present. Using a lockbox on your home can sound a little scary but also try to keep in mind that the more your house is shown to prospective buyers the faster it will sell. Ultimately the decision is up to you and you have the right to request whether a lockbox is used on your Atlanta home or not. 

Q: Why can’t I just sell my home myself - Why do I need an real estate agent?

A: You CAN sell your own home...you don’t have to have an real estate agent. Most sellers decide to use an real estate agent because it often helps them to sell their home faster and your real estate agent knows the law and has your best interest in the deal. Having an real estate agent can save you a lot of headaches. Not to mention most buyers have their own real estate agents who have their client’s best interest in the deal and if you are not up to speed on real estate law etc. you might not get as good of a deal as you could have. Read more about FSBO (For Sale by Owner) by clicking on the link below.

FSBO Listings (For Sale by Owner)  

Helpful Links

National Association of REALTORS© – www.realtor.org

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