Menu of Listings

by Shawn Lackie

Since there haven’t been a whole bunch of new ones these days, maybe it’s a good time to talk about listings and the different types you may encounter, when it’s time to sell your humble abode. There are many different types of listings and you can pretty much choose the one which best suits your needs. Make sure you have a reputable and reliable agent and also make sure you discuss EVERY step along the way. If you ever have a question about something and the agent’s reply is, “Don’t worry about that, we can discuss later.” then you need to run like your hair is on fire.

I always say, the only stupid question is the one you don’t ask, with good reason. Councils and boards are much more stringent these days, about certain unsavoury practices, with good cause. Simply, ignoring some legal responsibilities could cost the seller or agent big bucks and could ultimately lead to a court date you don’t want.

Regular listings' terms and conditions, it’s just that. Most agents will ask you list for at least 60 days. That would give them enough time to properly market the place and also give them time to run a few open houses, to expose the place to as many potential buyers as possible. How much you pay in commission will be negotiated between you and the realtor. Make sure you get everything in writing and make sure all of your questions have been answered, before you sign on the dotted line. I can’t count the number of times I have heard disgruntled sellers say they didn’t understand. Well, if a judge in court were to ask if you read ALL the terms, what would your answer be? If you claim you didn’t understand, you would be asked why didn’t you get clarification. If it’s your signature, then you have committed to a legal and binding contract.

Agent buys the property (as if I read the small print) – This is a for sure, if ever there was one. All I hear on the radio these days are ads from agents, saying, if they don’t sell your place, they’ll buy it themselves. Sure they will; at well below market value. I always say, if something is too good to be true it usually is, or isn’t. Don’t get sucked in.

Exclusive listings – This is usually a listing which is not posted on the MLS system. It’s supposed to be able to save you money, however, it could be a liability because your property won’t be exposed to as many eyes as it potentially could be.

Mere postings – These came about a few years ago, when the craze was on, for people to sell their own homes and save money. Again, read the small print. In many cases the seller will end up doing the bulk of the work themselves. If you want extra services you will pay a la carte, signs, open houses, advertising, etc. All I can say here is caveat emptor. Seriously.

Co-Listing – It speaks for itself. Two agents sharing the same listing and splitting the commission dollars between them. Make sure there is no conflict and all are on the same page, looking out for your best interests.

Feel free to check out this story and more on my blog site, at https://slackie14.wixsite.com/buy-sell-and-more