Working with an agent

To begin with, think local. Select someone who is the right fit for your needs. Select someone who is very familiar with your neighborhood and the properties for sale in it. A CENTURY 21® Agent has the neighborhood expertise along with a global network available to them. Because you will want the widest possible exposure for your home, you also will want a real estate firm that works with other agencies to get your property sold. Beyond these parameters, select an agent who is competent, efficient, and ethical. Perhaps the agent who first sold you your home would be a perfect candidate. If not, ask family, friends, and neighbors for recommendations, or choose a firm headed by an individual who is known in your community.

Interview at least three local agents who sell homes in your community. In your effort to ensure the right fit, ask them about the following:

• The worth of your home. The agents should inspect the home and prepare a written comparative market analysis.
• Marketing plans. These are a must. Ask an agent what the plan would be to market and sell your property. Discuss open houses, newspaper ads, the local Multiple Listing Service (MLS) - which gives your home maximum exposure to all local agents. Definitely be sure to discuss the agent’s interactive marketing plans for positioning your property on the internet. This is a critical piece to marketing a property in today’s market.
• Length of the listing duration and consider the local market conditions. Understand their standard listing agreement. Experts advise against signing a listing for more than 90 days unless it contains an unconditional cancellation clause. If you like, you can always extend the contract later.
• Number of listings. Find out how many listings the agent now has and how many he or she normally sells in a month and over the course of a year. Too many listings - more than a dozen - with a low sales rate, may not be a good sign.
• Get references. Ask for the names and phone numbers of recent home sellers. Call them and ask if they were satisfied with the level of service delivered by the agent.

The most common type of contract for listing properties is the exclusive right to sell. It gives the real estate broker the exclusive right to sell your home during the term of the listing. If a sale occurs - even if you sell the home yourself - the broker gets a commission. The broker may share the listing with other brokers on the Multiple Listing Service (MLS) to get the widest possible exposure for your home. If you request that the property not be listed on a multiple basis, only the broker named in the contract and his or her sales agents can market and show it.

There is no standard commission. They are not set by law and vary depending on service, customer needs, and company policy. In general, agents charge between 4 percent and 8 percent for full service. If you insist on pricing your home above the agent’s market analysis, an agent may require or request a higher commission to cover the added marketing expenses and time which will be needed to sell it. Think of a commission as a point you must negotiate and evaluate.