Dave Ratti
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Your Steps to Selling Successfully

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Step 2: Get a Real Estate Agent

Before placing a home on the market you should also identify who can best assist you with the sale. This person(s), in essence, will be an extension of you - and hence looking out for your interests.  It is important that you like the person you work with.  This is a people business and it makes the process so much better if all parties work together toward a common goal.

How do you choose a Real Estate Agent?
Whether you're a first-time seller or someone who has sold many homes, there are several ways to find a local licensed Real Estate Agent:

• Always keep in mind what would help to differentiate you, your home, and your Agent from the pack.  In other words, if you're a popcorn kernel, how would you be noticed in a pot of oil?
   
• Word of mouth - a good experience is usually a good indicator of performance.
   
• Knowledge is Power- look for knowledgeable people to work with.

There will be a number of questions you will want to ask, including:

• What services do you offer?
   
• What type of representation do you provide? (There are various forms of representation in different states. Some brokers represent buyers, some represent sellers, some facilitate transactions as a neutral party, and in some cases different salespeople in a single firm may represent different parties within a transaction.)
   
• What experience do you have in my immediate area?
   
• How long are homes in this neighborhood typically on the market? (Be aware that because all homes are unique, some will sell faster than others. Several factors can impact the amount of time a home remains on the market, including changing interest rates and local economic trends.)
   
• How would you price my home? Ask about recent home sales and comparable properties currently on the market. If you speak with several REALTORS® and their price estimates differ, that's OK, but be sure to ask how their price opinions were determined and why they think your home would sell for a given value.
   
• How will you market my home? At listing presentations, brokers will provide a detailed summary of how they market homes, what marketing strategies have worked in the past and which marketing efforts may be effective for your home.
   
• What is your fee? Brokerage fees are established in the marketplace and not set by law or regulation. Typically, brokers who list homes are compensated on a performance basis - that is, the broker is not paid unless the home sells under the terms and conditions that are acceptable to you.
   
• What happens if another Real Estate Agent locates a purchaser? That is, who will that broker represent, and how will he/she be paid?
   
• What disclosures should you receive? State rules require brokers to provide extensive agency disclosure information, usually at the first sit-down meeting with an owner or buyer.
   
• How long do you want to list your home? A "listing" agreement is a contract that shows the broker's obligations and outlines the terms under which your home is being made available for sale. The length of the agreement is a negotiable matter.

What should you expect when working with a Real Estate Agent?
Once your home is listed with an Agent, he or she will immediately begin to market your home according to the most appropriate conventions for your community.

We will keep you informed as the marketing process unfolds and as expressions of interest are received. In time, the marketing plan may be modified to reflect buyer reactions and changes in the marketplace.

With Maryland real estate there are written offers and written contracts.  The Statute of Frauds requires all contracts to be in writing.  Written offers created by the Real Estate Agent with assistance from qualified attorneys address numerous issues, are consistent with local requirements and provide the foundation for an actionable offer.