Before you really begin to work with a REALTOR®, it will be helpful to know that he/she will be truly representing your best interests. Frankly, this should be the case all of the time... unless you are working with a Facilitator - a title given to a specific form of Agency, representation. This guide should answer most of your questions regarding the various kinds of Agency. Upon your first face-to-face meeting, you should receive something similar to it to sign, acknowledging that you received a copy of it. Additionally, the Commonwealth has produced a fact sheet for consumers, like you.
Once you are serious about selling, you will want exclusive representation in the marketing and sale of your property and the professional help this provides you in negotiating the details of the purchase contract and guiding you through the closing process. The only way to assure that you get this is by signing a Listing Agreement. By signing such an agreement, Jim will be obligated to represent your best interest and to keep everything you tell him confidential. In fact, this agreement is required by the Commonwealth if you wish to market your property with the aid of a professional like Jim.
Sadly, even with such an agreement, you have to watch out. Some agents still put the dollar ahead of his/her clients and will talk them into giving up more than they should in a deal just to ensure a quick payday. However, Jim is driven by integrity and loyalty and never loses sight of his clients' best interests.
Once the listing agreement is signed, there will be other forms to complete prior to putting a sign in your yard or the information into the MLS. The common forms which you will be asked to sign might include these:
The Property Condition Disclosure has a variety of names and formats given to it; but, it is essentially a form that relates any defects to the property of which you are aware. Please fill out this form carefully when you receive it.
Once a buyer decides upon making an offer, the following major forms kick in:
There might be other forms involved depending upon your or the buyer's circumstances and the terms surrounding the offer; however, Jim will ensure that you understand each form we receive or need before asking for your signature.
Once you have come to terms with a buyer on an offer to purchase, you will be contacted by Jim regarding the time and date that the buyer has scheduled to inspect the property for defects. Once the inspection hurdle has been jumped, you will be contacted regarding the time and date for the appraiser's visit, the surveyor's visit, if applicable, and the need to schedule your own inspections.