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Understanding the Home Selling Process

Sell a Home

By the time you are ready to sell a home, it means that you have already been successful in purchasing a property. You survived that, so I am sure you will be able to survive the sale of your property. Remember, you will put on the seller's hat now, but try not to forget all the emotions and feelings you had when you were the buyer.

The information presented here is intended to provide you with an overview of the home selling process. No transaction is like another, and there will be differences in the processes with every transaction you are involved in.

When you make the determination that the time is right to place your property on the sales market, the first thing you must consider is your motivation for selling. What is the reason that you want to sell your home? Whatever the motivation, it will have a have an influence on all the decisions you make that affect the process.

The first decision you will make will be to choose a real estate professional to represent your best interests in the transaction. The interview process for choosing a REALTOR® to market your home for sale is similar to the process you would use when choosing a REALTOR® to represent you in the purchase of a home. During this process, however, you will be gathering valuable information which will help you determine the list price of your home.

Certainly, the ability to easily communicate with your real estate professional and to feel a sense of trust and comfort is very important. A real estate transaction is usually one of the most important transactions that anyone can make, and it is important that you trust and respect the REALTOR® you choose to help you with the transaction.

Obtaining a personal referral from someone you know and trust is ALWAYS the easiest way to find a good and competent REALTOR®. In my experience, when customers are referred to me by a previous client, it always works out to be a good and rewarding experience for all concerned.

During the interview process, every REALTOR® you speak with should present you with an information document called Information about Brokerage Services. The Texas Real Estate Commission provides this form, and Texas law requires all real estate licensees to provide the information to prospective buyers, tenants, sellers and landlords.

The intent of the form is to give the consumer information about the duties of the broker, depending on whom the broker represents. A broker can represent the buyer/tenant or the seller/landlord. The broker can also act as an intermediary with full disclosure and the written consent of each party to the transaction.

After you have interviewed prospective REALTORS® and you have chosen the REALTOR® to represent you in the transaction, you and your REALTOR® will prepare the listing agreement, the Residential Listing Exclusive Right to Sell. This document puts the terms and conditions of the listing in writing: The list price, the term of the listing agreement, the amount of commissions paid to the listing broker upon the sale of the property. The listing agreement will also include the Seller's Disclosure Notice and, depending on the age of the property, the Addendum for Seller's Disclosure of Lead-Based Paint.

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LynnS"I thought I couldn't qualify for a mortgage so I was reluctant to try to buy a home. Bill Evans helped me to find a lender and a wonderful home. Without his patience and understanding I'd still be throwing my money away on rent."

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Austin, Texas 78704-3060


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