Seller Guide
Selling your property involves a seemingly endless number of details. This guide is designed to make the process easier to navigate and understand. We hope it serves as a valuable reference, from hiring a realtor® to handing over the keys.
1. AGENCY RELATIONSHIPS & REALTOR® COMMISSION
CHOOSING A REALTOR®
Selling a property is more than a business transaction. It’s personal. And it involves a seemingly endless number of details. Your real estate agent is your guide for the entire process. Make sure they are a REALTOR®, which means they have pledged to uphold a stringent code of ethics.
When choosing an agent to work with, be sure they…
- Know their market and have a good handle on market conditions so you can create a thoughtful listing strategy together.
- Listen carefully and “get” you. They should inquire about your personal motivation and priorities, so they can mindfully support your goals.
- Produce professional, well-written marketing materials, with excellent photographs.
- Are detail-oriented—to represent your property most effectively, they should be able to answer almost anything they are asked about it.
- Are personable and easy to be with. There is a great deal of preparation and dozens of steps in the real estate process. Is your REALTOR® somebody you’d like to collaborate with?
- Have a strong sense of integrity—you should feel confident they will effectively advocate for you during negotiations.
- Have community connections to additional professionals (such as attorneys and contractors) that you will need to reach the closing table.
AGENCY RELATIONSHIPS – WHO REPRESENTS WHOM?
State law requires your REALTOR® to present you with the MASSACHUSETTS MANDATORY REAL ESTATE LICENSEE-CONSUMER RELATIONSHIP DISCLOSURE at your first personal meeting. (This is a disclosure, not a contract.) The form will indicate we are working as your “Seller’s Agent.” Hyperlink to the form >>. Legal definitions are on page two.
When one of our agents brings a buyer that they represent, this creates a dual agency. By signing the SELLER’S CONSENT TO DUAL AGENCY form you acknowledge that this may occur. A dual agent must be neutral with regard to any conflicting interest of the seller and buyer. Our company does a substantial number of dual agency sales. So that both buyer and seller feel equally and accurately represented, we make sure that each party has an agent communicating on their behalf.
When a buyer submits a Purchase & Sale Agreement in a dual agency situation, they will include the BUYER and SELLER NOTICE OF DUAL AGENCY. Referring back to the consent forms previously obtained, this form notifies all parties that a dual agency is actually occurring.
COMMISSION
Sellers in our market typically have offered compensation to buyers to offset their “buyer’s agent fee.” This amount varies, and is published in the MLS listing and displayed in public portals. At the closing table, fees are distributed to the listing brokerage and to the brokerage that brings the buyer. Each brokerage then again divides their fees between the broker and the agents participating in the sale. Your agent receives no compensation until closing.
Guides written by Barney Stein,
LVRE agent since 2007
1. Agency Relationships & Realtor® Commission
Selling a property is more than a business transaction. It’s personal. And it involves a seemingly endless number of details. Your real estate agent is your guide for the entire process. Make sure they are a REALTOR®, which means they have pledged to uphold a stringent code of ethics.
When choosing an agent to work with, be sure they…
- Know their market and have a good handle on market conditions so you can create a thoughtful listing strategy together.
- Listen carefully and “get” you. They should inquire about your personal motivation and priorities, so they can mindfully support your goals.
- Produce professional, well-written marketing materials, with excellent photographs.
- Are detail-oriented—to represent your property most effectively, they should be able to answer almost anything they are asked about it.
- Are personable and easy to be with. There is a great deal of preparation and dozens of steps in the real estate process. Is your REALTOR® somebody you’d like to collaborate with?
- Have a strong sense of integrity—you should feel confident they will effectively advocate for you during negotiations.
- Have community connections to additional professionals (such as attorneys and contractors) that you will need to reach the closing table.
AGENCY RELATIONSHIPS – WHO REPRESENTS WHOM?
State law requires your REALTOR® to present you with the MASSACHUSETTS MANDATORY REAL ESTATE LICENSEE-CONSUMER RELATIONSHIP DISCLOSURE at your first personal meeting. (This is a disclosure, not a contract.) The form will indicate we are working as your “Seller’s Agent.” Hyperlink to the form >>. Legal definitions are on page two.
When one of our agents brings a buyer that they represent, this creates a dual agency. By signing the SELLER’S CONSENT TO DUAL AGENCY form you acknowledge that this may occur. A dual agent must be neutral with regard to any conflicting interest of the seller and buyer. Our company does a substantial number of dual agency sales. So that both buyer and seller feel equally and accurately represented, we make sure that each party has an agent communicating on their behalf.
When a buyer submits a Purchase & Sale Agreement in a dual agency situation, they will include the BUYER and SELLER NOTICE OF DUAL AGENCY. Referring back to the consent forms previously obtained, this form notifies all parties that a dual agency is actually occurring.
COMMISSION
Sellers in our market typically have offered compensation to buyers to offset their “buyer’s agent fee.” This amount varies, and is published in the MLS listing and displayed in public portals. At the closing table, fees are distributed to the listing brokerage and to the brokerage that brings the buyer. Each brokerage then again divides their fees between the broker and the agents participating in the sale. Your agent receives no compensation until closing.