What a Listing Agent Provides Minnesota

Selling a home is among the largest financial undertakings that most of us deal with, but the process can go smoothly with the help of the right listing agent. As a seller, you should interview candidates until you meet a person who understands your needs, and can help you from listing to closing.

When you sign a contract with a listing agent, you agree to pay a commission, probably between 4 and 6 percent of the selling price, or possibly a flat fee. This is a major financial transaction and you should be happy with the marketing plans for your home.

Here’s what you can expect a listing agent to do:

Set the listing price

An agent should be able to provide you with a competitive market analysis (CMA). This free assessment compares your home to similar ones in your area that have sold recently. The comparison is based on the size and features of your house and it may include school information, crime statistics and economic conditions. With this analysis, your agent can suggest a fair listing price.

Give your home curb appeal

Although you may love your home and think it’s absolutely perfect, your agent is more detached and can suggest changes that will appeal to potential buyers. These may include clearing clutter, finishing minor repairs, repainting or possibly installing new carpet.

Put out the “For Sale” sign

All listing agents should provide you with a sign for your yard that names the agent, the agent’s company and provides a phone number where there should be someone available to answer questions seven days a week.

List your home in the MLS

The Multiple Listing Service (MLS) is a database of all the homes in a given area that are listed by registered users, including the vast majority of agents. Your agent can enter your listing into this database to make it available to a far larger group than those who just happen to see the sign on your lawn. Your agent will write up the details of your house and attach a photo.

Preview the home to other agents

Within the first week or so of putting your house on the market, your agent should set up an open house for other agents, who may return with their clients. This generates additional interest in your property.

Arrange open houses and showings

Your agent may set up a few open houses for potential buyers. He or she should give you an advance warning of when they will be held so you can tidy up and leave the house. He or she should also tell you what the viewers said about your home -- you might learn how to make improvements for the next showing.

Provide additional advertising

Depending on the market, placing a picture and detailed description of your home into local newspapers and magazines may also attract potential buyers. Fliers can also be attached to the For Sale sign on your lawn or handed out to those attending your open house.

Navigate the offer process

Offers may come in very soon after your home goes on the market. Your agent can help verify that potential buyers have adequate financing and may suggest you only consider offers from those who have pre-approved financing from a lending institution. The agent can also accompany the inspector when he or she examines your house, help you negotiate a sale and estimate closing costs.