What are the Listing Broker’s Duties?

Contact Steve – Golden Realty Group  321-243-4892, People's First Financial Services  321-242-8240

Melbourne, FL

When it's time to sell your home, chances are that you'll hire a real estate agent to help list and sell your property.  Before you sign on the last page and place your initials on all the pages of the listing agreement, make sure you familiarize yourself with the duties of the real estate agent whom you hire.  Of course you know that the listing agent will advertise and market your property and try to find a buyer for your home.  What else are they obligated to do when you sign the paperwork?

 LISTING BROKER DUTIES:

• Protect and promote your interests - By signing a listing agreement, the broker agrees to represent you and your interests. 

·         Use reasonable efforts to seek buyers at your acceptable price and terms. Ultimately, you select the price and terms that you are willing to accept.  The listing agent will provide you the pricing data and other information to help you make an informed decision.

·         Negotiate on your behalf and assist in consummation of the sale  Negotiations occur throughout the transaction.  Choosing a good negotiator for your real estate deal is crucial.

·         Market your home by advertising in publications, mailings, brochures and internet sites.  Make sure you ask your listing agent what tools they will use to market your home.  Over 80% of today's homebuyers start their search on the internet.  Find out if your agent has a solid internet marketing plan to sell your home.

·         Make unilateral offer of cooperation and compensation to other brokers in any MLS deemed appropriate. In Brevard County we have INNOVIA which operates the multiple listing service.  Your home should be on the MLS for the widest exposure to other agents and brokers who will bring buyers to your home.  In the majority of cases, it will be another agent or broker who finds the buyer for your home.  Your listing agent should provide an attractive description and multiple photos on the MLS so that agents and buyers can find your home.

·         Place "for sale" signs on your property.   Just another form of advertisement and exposure.  (Not available in all locations).

• Show your home during reasonable hours and accommodate other agents to show your home.  An electronic lockbox provides the easiest way to allow access.  However, you have the right not to be disturbed during dinner, late at night, early in the morning, or while you are in the shower!

• Present all written offers or counteroffers in a timely manner.  Emphasis on the word "ALL."  It's your choice what offer you decide to accept or reject.  The agent cannot withhold offers from you.  In real estate, time is always of the essence.  If a buyer's offer for your home is not presented to you in a timely manner, that potential purchaser may move on.

• Account, in a timely manner, for all money and property received in trust by Broker, in which you have or may have an interest. You have a right to know where the funds are being held.

• Maintain the confidentiality of your personal and financial information.  Anything you tell your listing agent will be kept confidential - even after the transaction is over or the brokerage relationship is terminated.  This duty is very important.  Don't be afraid to discuss important details of your personal and financial information with your listing agent.  This information will be very important for them to assist you fully in selling your home.