You Signed The Listing Agreement – What Next?
Signing the listing agreement when selling your home will set into motion a chain of events that you need to know about. You cannot expect buyers to come rushing just because you asked a real estate agent to help you sell your home. There are various things that take place after you sign the listing agreement. Though there may be some variations depending on the state you live in, here is an overview of what usually happens.
Before Showing the Home to Buyers
Your agent will be one busy person after you have signed the listing agreement. The agent is responsible for guiding you to improve the appeal of your home to make it more attractive for potential buyers. It is quite likely the agent will provide you some tips on how to do so. Moreover, the agent will also confirm the details about the home, discuss financing options, make sure there are no encumbrances, and also take pictures of the home if necessary. Only when the agent gives you the go-ahead can you show your home to interested parties.
While the Home is Listed
The next stage begins when the home is officially listed for sale. At this point, you will have to go through a mountain of paperwork. Most of it is related to information about the home. You will need to share any information that may influence the decision of a potential buyer. You might also be required to disclose whether the neighborhood the home is in is safe and ideal for living. The agent will be in constant contact with you to make sure the paperwork is duly completed. You can also expect some potential buyers to check out your home.
After the Offer
The last stage is when one of the interested parties makes a formal offer for purchasing the home. Needless to say, this is the thing you would have been waiting for. However, a common mistake sellers make is selecting the buyer who makes the highest bid. You need to keep in mind that the highest offer may not necessarily be the best. If you only get one offer, you don’t need to think much. In case there are multiple offers, the agent will guide you towards selecting the best one. You can respond by accepting or rejecting the offer outright, or making a counter-offer with a higher price. It is up to you to negotiate the best price for your home.
These are the 3 stages the selling process of your home will go through once you have signed the listing agreement. Be prepared so that you can sell off the home without any hassle.