First Steps
Thought about selling your home? A CENTURY 21® real estate agent can help you sell your property in a timely and stress-free way. Get started and list your property now.
The common top three listing agreement choices are Open Listing, Exclusive Agency Listings and Exclusive Right-to-Sell Listing. Get more information and find out which agreement is right for you.
The following are the most common types of listing agreements:
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Exclusive Right-to-Sell Listing
Used most frequently, an exclusive right-to-sell listing gives one broker the exclusive right to represent the owner and earn a commission if the property is sold prior to the expiration date of the listing agreement. In exchange for the exclusivity, the broker will invest the time and resources to market the home to consumers and agencies who work with buyers. The owner would also be responsible for paying the selling broker fees if a broker delivers the buyer for the property.
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Exclusive Agency Listing
An exclusive agency listing is when the owner agrees to list the property with a broker and pay the broker a commission if the property is sold to a buyer obtained by that broker. But with this type of listing, the owner can still sell the property himself/ herself without having to pay commission fees. This makes it unpopular as the broker may be reluctant to invest in actively marketing the property due to the uncertainty in earning back the expense through commission fees.
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Open Listing
Under this arrangement, the owner sells the home by himself/ herself but is also willing to let brokers bring buyers to see your property. If a broker's client purchases the property, the owner pays a commission fee to that broker. As with the Exclusive Agency Listing, the broker may be reluctant to market the property and will only consider showing it to their client if it meets their buying criteria.The following are the most common types of listing agreements:
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Exclusive Right-to-Sell Listing
Used most frequently, an exclusive right-to-sell listing gives one broker the exclusive right to represent the owner and earn a commission if the property is sold prior to the expiration date of the listing agreement. In exchange for the exclusivity, the broker will invest the time and resources to market the home to consumers and agencies who work with buyers. The owner would also be responsible for paying the selling broker fees if a broker delivers the buyer for the property.
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Exclusive Agency Listing
An exclusive agency listing is when the owner agrees to list the property with a broker and pay the broker a commission if the property is sold to a buyer obtained by that broker. But with this type of listing, the owner can still sell the property himself/ herself without having to pay commission fees. This makes it unpopular as the broker may be reluctant to invest in actively marketing the property due to the uncertainty in earning back the expense through commission fees.
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Open Listing
Under this arrangement, the owner sells the home by himself/ herself but is also willing to let brokers bring buyers to see your property. If a broker's client purchases the property, the owner pays a commission fee to that broker. As with the Exclusive Agency Listing, the broker may be reluctant to market the property and will only consider showing it to their client if it meets their buying criteria.
Creating a Marketing Plan for Your Home
Selling can entail a variety of marketing strategies. Once listed, it's likely that the home will be quickly entered into the local MLS (Multiple Listing Service), displayed on century21.com and distributed to over 500 national and local real estate web sites. Much of an agent's work will be quiet and unseen - yet important. The quiet telephone calls, the work with contacts, arranging for and marketing open houses, the follow-ups with open-house visitors, conversations with ad respondents, web postings and other outreach efforts are all part of the process required to sell your home.
Your agent will create a marketing plan for your home that will help distinguish it in your local marketplace and attract buyers to your property. This may include posting your listing on the Internet, holding an open house and more. CENTURY 21® Sales Professionals may use the CENTURY 21 Customized Marketing System to create a personalized selling program for clients. Its purpose is to sell a home at the best price possible in the shortest amount of time.
The Top 10: Tips to Add Value to Your Home
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Clean, organize, and neutralize your space: Unclutter your house to make it look bigger and cleaner. Buyers need to be able to envision their own belongings in the home; so, avoid using bright colors and too many personal effects.
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Keep Your Lawn Green: Get your lawn in shape. A patchy lawn takes away from the home's overall appearance. Your local hardware store has supplies to re-seed those unhealthy areas.
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Add insulation to save energy: The most inexpensive way to increase your home's energy is to add insulation, which can reduce heating and cooling costs by more than 25%.
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Update kitchen appliances: The kitchen is often the room that buyers gravitate towards first, and an updated kitchen can help sell your home. You don't have to remodel your kitchen to give it a new look. Updating your appliances to the current standard and replacing cabinet doors and hardware can make a big impact at a relatively low cost.
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Update bathroom fixtures: A little change can go a long way when it comes to the look of your bathroom. Updating simple fixtures such as your sink and faucet can give any outdated bathroom style.
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Build a fence: If you're trying to sell a house, the appearance of a fence adds value to the home overall. Buyers with children or pets will appreciate the privacy and security of an enclosed backyard.
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Repair the gutter: Ensuring that your gutter is clean is crucial in protecting your home against water damage.
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Light up the outside: An easy and inexpensive way to increase your home's outdoor space is to add lighting. It makes it more appealing and safer.
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Store and organize: Ample storage space is a plus, especially when it comes to garages and closets. Efficient closet structures can help keep your clothes organized and can save space.
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Polish off the basement: Rather than adding an additional room, it is more cost-efficient to remodel your basement. This adds value and usable space.
Setting the Right Price for Your Home
A key part of the marketing plan is setting the list price. If a home is priced too low, you won't benefit from the optimal profit. If a home is priced too high, potential buyers may be scared away. To determine the best asking price review the cost of recently sold homes, evaluate the competition and study marketplace trends. CENTURY 21® Sales Associates are trained to use this information to help you reach the right asking price. It is also helpful to discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Both of these can make your home more attractive to potential buyers.
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Location: You can't get away from this one. If your house is located in a desirable area that is in demand, you will be able to get a higher price than you can for the same house in a less desirable area.
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Condition: A house that has been better maintained and shows better will always sell for more than one that has had deferred (neglected) maintenance and needs work.
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Desirable amenities: If a house has amenities that are currently popular in the marketplace, it will bring a higher price.
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Calculate the price per square foot: The average price per square foot for homes in your neighborhood shouldn't be the sole determinant of the asking price for your home, but it can be a useful starting point. Keep in mind that various methodologies can be used to calculate square footage.
A formal written appraisal can be useful if your property is unique, there hasn't been much activity in your area recently, co-owners disagree about price, or if there is any other circumstance that makes it difficult to put a value on your home. Appraisers consider the location of the home, its proximity to desirable schools and other public facilities, the size of the lot, the size and condition of the home itself and recent sales prices of comparable properties, among other factors.
