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Seller’s Agents FAQ
What exactly is a seller’s agent?
A seller’s agent is working directly for the seller of a home or property and is going to ensure that their client receives the best and fairest price possible. They will also be able to walk the seller through the entire process and serve as their representative with a buyer’s agent, attorney or bank.
Are you obligated to use a seller’s agent?
No you are not, and in fact many people sell their homes independently, though they often enlist the help of a lawyer or attorney who drafts the necessary contracts and documents and ensures that the entire transaction is perfectly legal. While this might save a seller from paying any commissions it is a tremendous amount of work and a serious commitment where time is concerned.
What are the actual benefits of a seller’s agent?
They are almost too numerous to mention, but include:
- Assessing the needs and wishes of the seller and lining them up with as many suitable buyers as possible
- Marketing the property through the use of an amazing number of professional options including classified ads, the Internet, Open Houses and even television commercials
- Working as the seller’s representative between the bank and buyer’s agent
- Helping the seller to make the property or home appear at its very best, which includes the recommendation of professionals who can help them achieve this goal
- Offering advice to their client on a suitable price for the home they are trying to sell
- Working on behalf of the seller in negotiating the details of the sale
- Completely explaining and reviewing all legal documents associated with the sale of their property
How does a seller’s agent get paid?
The majority of seller’s agents will be paid in one of two ways – they can either work for a set fee which must be drafted into a formal contract at the beginning of the selling process, or they can agree to take a portion of the commission which they will split with the buyer’s agent. The former is the most common method of paying the seller’s agent for their services.
Where do I find a seller’s agent?
It is easy to find the names of many seller’s agents, but finding the right one for your needs will require a bit of effort. Many people begin by visiting a few open houses to get a “feel” for the agent’s attitudes, others ask for recommendations from friends and still more just use the old-fashioned yellow pages.