|Choosing the right method to sell your property may ensure you get the highest possible price|
When selling your home there are various methods of sale to choose from and it’s important that you understand the options available to you and that advantages of each.
When you do decide on which agent to represent your sale you will be asked to sign an Agency Agreement which will contain amongst other things an estimate of the total fees, charges and advertising expenses you can expect to be charged when your home is sold.
This is vitally important because it will help you determine a proper budget for selling your property.
Before you sign any Agency Agreement with any agent you should read it carefully and make sure you fully understand the agreement and your obligations. If you don’t understand anything at all ask to have it explained to you.
There are several kinds of agency agreements and any real estate agent will willingly tailor one to meet your needs.
The main agreements when selling your property are:
- An Exclusive Agency Agreement covers a set period with one real estate company allowing the agent to concentrate all their efforts into the sale of your property.
- An Open Listing Agreement can be entered into with a number of agents at the same time and the agent who introduces the purchaser and holds the deposit is entitled to the commission.
- If you sign an Auction agreement and submit your property for Auction this means that prospective purchasers will bid against one another at a date and time suitable to you. An auction agreement is technically an exclusive agency with a different method of presenting the property for sale to prospective buyers.