Signing a Listing Agreement
Once you have made the decision to sell your home and you have chosen a real estate professional to act on your behalf the next step in marketing your property will be to enter into a listing agreement. (authority for the sale of your property)
The listing agreement is a contract that permits your real estate agent and the brokerage to actively advertise and market your home for a specified period of time. It also commits you to a fixed marketing fee that is paid to the brokerage upon the successful closing of the transaction.
At the same time as a listing agreement is completed your agent will also complete a Data Information form on your home. This will provide all the information on your home for the brokerage and the local real estate board to provide to other brokerages and potential buyers.
In order to complete these agreement and forms it is beneficial to have the following information available for your real estate agent.
- Plan of survey: (if available) A survey of your property which outlines the lot size and location of buildings as well as details of encroachments or easements from neighboring properties or property owners.
- Property tax receipts: Most listing agreements provide information on property taxes and assessments for prior year.
- Legal description of your property
- • Mortgage information: You could be asked to authorize your mortgage lender to provide this information.
