LISTING AGREEMENT AND ACCEPTING AN OFFER

Yes! This is what you have been working towards! You are ready to go over the listing agreement with your Turning Point Real Estate Agent, we are going to start ramping up the marketing, setting some showings, and then start receiving offers.

You need to find that magic pricing number that isn’t too much that buyers don’t come and see the home or too low that we have under priced our true worth.

Types of Agency

Once you have selected your Turning Point Broker, you then have some choices to make.

Do you want to have a Seller Agent (also known as a listing agent) agreement with your agent that works solely on behalf of you to promote your interests with the utmost good faith, loyalty, and fidelity? Your agent would negotiate on your behalf and would act as your advocate. A seller’s agent must disclose to potential buyers all adverse material facts actually known by the seller’s agent about the property. A separate written listing agreement is required which sets forth the duties and obligations of the broker and the seller. This is the most used and most logical arrangement.

Do you want to have a Transaction-Broker agreement where the broker assists the buyer and seller or both throughout a transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction without being an agent or advocate for any of the parties. A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if the buyer intends to occupy the property. No written agreement is required.

Do you want to be a Customer? This is your choice by representing yourself. A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party’s agent or as the party’s transaction-broker.

Determining Price. You need to find that magic pricing number that isn’t too much that buyers don’t come and see the home or too low that we have under priced our true worth. "The higher the price, the better the offer." Don't let yourself be fooled by this popular misconception. Price isn't always the determining factor in choosing among multiple offers, for several important reasons: the initial offer is never final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust your Turning Point Real Estate listing agent to help you thoroughly evaluate every proposal without compromising your marketing position.

Negotiating The Right Way. We take the ethical and fiduciary responsibility of fairly negotiating contractual terms very seriously. It's our job to find a win-win agreement that's beneficial to all parties involved. Oftentimes you will have to deal with multiple offers before ratifying the one you judge to be the most suitable for you - and as your agents we will guarantee a thorough and objective assessment of these offers to help you make the right decisions.

Earnest Money: The Initial Agreement and Deposit. Upon acceptance of an offer, the buyer is responsible for providing an earnest money check whereby an asset (such as a home buyer's initial deposit) is delivered to a third party (an escrow holder) to be held in trust pending the fulfillment of conditions or contingencies in a contract. Once an offer is ratified, the home seller and buyer will agree upon the amount for the good faith deposit and set up an escrow account through the title closing company. This reflects the buyer's intention to purchase your property and ensures that no funds or property will change hands until all instructions in the transaction are followed.

Some Important Tips. Keep these tips in mind to streamline the process even further:

• Keep written records of everything. For the sake of clarity, it will be extremely useful to transcribe all verbal agreements of everything from counter-offers and addendums, and convert them to written agreements to be signed by both parties. We will assist you in drafting addendums in your contract to ensure you've got all the bases covered.
• Time is of the Essence. Now that you've chosen your offer, you and the buyer will be given a timetable to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and keeps the parties from falling out of contract. During the process I'll keep you constantly updated so you'll always be prepared for the next step.
• Consult with Attorneys and Tax Advisors. The agreements you sign have important legal consequences and the parties are recommended to consult legal and tax or other counsel before signing. Simply stated, we are not attorneys nor are we tax counsel. Selling a home can be a simple and smooth process but there are things that can affect you outside the scope and expertise of any real estate agent.