A Sellers Agent is a licensed real estate professional who by contract is representing the seller of a piece of property. Finding the right agent to represent you is key to a smooth transaction. You may pick an individual because of a high experience level but keep in mind you need to get along with your agent, and agree to how the property is to be marketed.
A Sellers agent will first want to discuss how to price the property to be sold. A property needs to be priced correctly for the current market area not necessarily for what the owner wants. If three bedroom colonials in a neighborhood are selling for $350,000.00, it would not be likely to sell a three bedroom colonial for $450,000.00. The way an agent can go about pricing the property is called a Comparative Market Analysis. A CMA basically looks at a 6 month history of property sales that are similar to the property in question and in the same geographic neighborhood to help the agent determine what a property should be priced at. The agent will provide this to his client, the seller, who ultimately will decide what he / she wants to list their property at.
Once the property is priced right for the market, and has been listed the sellers agent goes to work on marketing. Marketing can include any number of tactics for example the property will be listed on Multiple Listing Service (MLS) which advertises the property through a number of websites such as Boston.com, Trulia, Zillow, Boston Magazine, Homes.com, and AOL real estate, along with several other websites. Another marketing tool as a Century 21 agent we use is a system to list the property on several sites not included by MLS but relevent to the Boston Area, and Massachusetts. Another tool used by agent to sell a property is an open house. Although it seems that agent are shying away from open houses they are still a powerful tool to sell. At an open house the agent welcomes pretty much anybody with an interest to come view the property and make an offer if it’s what they are looking for.
A sellers agent puts a lot of time and effort into marketing their clients property, as well as showing, and doing all the relevent paperwork so the seller does not have to. As such the agent needs to be compensated. A sellers agent receives a commission based on a percentage of the final sale price of the property. This percentage is discussed and agreed upon between the seller an agent prior to listing the property, and in the case that a buyers agent brings the buyer, used to compensate that agent through a commission split of the originally agreed upon percentage.
A Sellers Agent is key to a smooth and successful real estate transaction.
As always I welcome any questions, comments, or concerns. Feel free to email me TheBostonMovesGuy@Hotmail.com or firstname.lastname@example.org or contact us by phone.