Your Sales Representative is a trained professional who should understand well all aspects of the real estate market, saving you time, money and aggravation.
As when purchasing a home, when listing, you want a Sales Representative who is an expert in your location. Do your research, ask for referrals, then contact several, interview them and when you are comfortable, hire them and get to work.
A non-exclusive listing means that a property is placed on the Multiple Listing Service (MLS), and is advertised broadly, allowing for all agents to be aware of, cooperate with, and share commission on the sale of a property.
An exclusive listing means that a seller enters into a listing agreement with a brokerage, but the listing does not appear on the Multiple Listing Service (MLS). The listing agent and their brokerage alone have the exclusive right to find a buyer. The property is only advertised on channels chosen by the listing agent, and commission is not shared with other agents.
There are varied and good reasons for choosing one or the other of these options and often times an exclusive listing will, after a brief time, be converted to a non-exclusive listing. Your agent will help you to understand the reasons and strategies behind these different options.
Understand Market Conditions
The real estate market is in constant flux. An awareness of the overall and local real estate markets will help you understand how conditions will affect the sale of your home. Below are outlined three significant market positions. When you meet with your Sales Representative, be sure to ask about the current state of your market.
The supply of homes on the market exceeds demand: more homes for sale than buyers looking to purchase.
High inventory of homes. Few buyers compared to availability. Homes stay on the market longer. Prices are stable or perhaps dropping.
Buyers spend more time looking for a home, and when they negotiate, they usually have more leverage.
The number of potential buyers exceeds the supply of homes on the market: more buyers looking to purchase than there are homes for sale.
There is a smaller inventory of homes with many buyers. Homes sell quickly. Prices usually increase.
Prices may be higher or perhaps climbing. Buying decisions must be made quickly. Conditional offers may be rejected.
The number of homes on the market is roughly equal to the demand: equal balance of people looking to buy as there are properties for sale.
Demand equals supply. Sellers accept reasonable offers. Homes sell within a reasonable time. Prices generally remain stable.
There is less tension among buyers and sellers. There is a reasonable number of homes from which to choose.