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What Should a Realtor Do To Sell Your House? (Complete List)

September 27 2018
by Leisl Bailey

what should a realtor do to sell your house

What should a Realtor do to sell your house? Great question.

As Realtor commissions are at a current national average of 6% (sometimes higher!), you want to make sure that the person you hire to introduce the right buyer at the right price is worth every penny.

What Should a Realtor Do To Sell Your House? (Complete List)

Real estate agents are professionals who have experience and connections. This means that working with a Realtor should be significantly easier than attempting to sell your home on your own.

In this article, we will take a look at all the perks of working with a qualified Realtor, as well as what you can expect from a standout Realtor each step of the way.

Step One: Picking A Sale Type

There are three main types of home sales. An auction, a fixed-date sale, and an asking price sale.

In an auction, you agree on your lowest acceptable sales price and your agent takes your home to auction. In a fixed-date sale, your agent gathers multiple offers for your home and delivers them to you by a certain time when you select your favorite.

The asking price sale, however, is the most common. It is when you list your home under a specific price and solicit interest from buyers who would like to negotiate a sale.

During this stage, you and your agent plan for listing, showing and selling your property.

A Great Realtor Will…

Listen to your comments and concerns about your home and why you want to move. He will consider your budget and, after thoroughly explaining each option, help you choose the type of sale that you feel is best.

A Not So Great Realtor Will…

Fail to explain each type of sale and understand your personal situation. He will simply choose the type of sale that is more convenient for him.

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Step Two: Setting a Selling Price

This is one of the most important parts of selling a home.

If you undervalue your home, you could lose out on well-deserved money. If you price it too high, your home could sit on the market for months.

A Great Realtor Will…

Enlist the advice of multiple, professional home assessors. He will consider your home’s age, location, size, and updates. He will also consider the current market and area trends so that he can give you a realistic fair market value.

A Not So Great Realtor Will…

Tell you to set your home’s listing price as high as possible because he only cares about his potential commission – which he is trying to maximize.

Step Three: Signing the Agent’s Agreement

Most professional agents will ask that you sign an exclusive agency agreement. This document is a legally binding contract that details the agent’s commission, the estimated sales price, the duration of the agreement, advertising costs for the home, and more.

A Great Realtor Will…

Thoroughly explain the details of the contract and be happy to answer any questions or concerns you have about its stipulations.

A Not So Great Realtor Will…

Not even bother with an agent’s agreement because he doesn’t plan to spend much time working on your listing anyway, so there is no need for him to want to be exclusive.

Step Four: Preparing the Contract of Sale

After you have signed an agreement with your agent, it’s time to prepare your Vendor’s Statement (or Section 32) for your property.

You will also need to create the Contract of Sale (usually with the help of a lawyer). These documents will include all the details prospective purchasers will need to know about the home and the sale.

A Great Realtor Will…

Take the time to explain exactly what should be included in the Contract of Sale based on your particular circumstances. He will also advise you about the inclusion of a lawyer to review any documents.

A Not So Great Realtor Will…

Simply say, “sign here” and not be available to answer your questions.

Step Five: Advertising and Showing Your Home

Advertising your home is probably the biggest reason why having a good real estate agent is important.

After all, agents have connections in the industry that you simply do not have access to, so the expanded range of potential buyers alone is worth the agent’s commission.

A Great Realtor Will…

Take well-lit, high-quality photos of your home (or help you hire a professional photographer to do so.) He will upload these photos along with your listing to his personal website, social media, and the local MLS (Multiple Listing Service).

He will actively use his networks of colleagues to recruit interested buyers. He will be on time to and enthusiastic about all showings and open houses. He will take your opinion into consideration, while always offering realistic advice.

A Not So Great Realtor Will…

Take some photos of your home on his smartphone, pop them onto an MLS, and hope for this best. He might even host a showing or two.

Step Six: Buyer’s Negotiations

This step is pretty self-explanatory.

At this stage, your agent will auction your property or mediate between you and all the potential buyers to reach a mutually acceptable price. The chosen buyer will then pay a deposit.

A Great Realtor Will…

Be constantly available to you during the negotiation process to hear your concerns and offer advice about the next steps. He will negotiate offers in your best interest and try to get you the best price possible.

If the asking price is not met, he will advise you about whether to walk away or make the deal, based on your finances and the current market.

A Not So Great Realtor Will…

Be late answering your calls about the time-sensitive negotiations occurring. He will also hold out for a higher, unrealistic sales price because he wants a higher commission.

Step Seven: Closings Day

Once the seller and buyer’s lawyers and banks have determined the details of the sale to ensure both parties meet all legal and financial requirements, it’s time to close!

On closing day, you give up your keys and your legal ownership of the property in exchange for the balance of payment from the buyer or their bank.

A Great Realtor Will…

Attend the closing proceedings with you, if you even need to attend. He will answer any last minute questions for you and be available to quell any last minute dramas, should they arise.

A Not So Great Realtor Will…

Not be able to come to the closing, or even advice you if you should attend. He will also make you feel like something is still “undone” after the proceedings are over because he doesn’t offer closure.

Interested in a low-cost, professional Realtor? Why not list with Clever! Our enthusiastic agents will sell your home (the right way!) for one flat fee. Call us today at 1-833-2-CLEVER or fill out our online form to get started.

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