| Selling your home is a huge undertaking and can | | | | obligated to provide any personal information |
| be stressful under normal circumstances, but | | | | about you other than that deemed necessary by |
| making the wrong choices can make the | | | | law or sales contract deemed necessary in order |
| experience even worse and could cause your | | | | to sell your home. |
| home not to sell. | | | | - Confidentiality-Your selling agent must keep all |
| This will be the first article in a series of articles | | | | personal information in confidence. This |
| that will focus on choosing the right real estate | | | | confidentiality must continue even after the sale |
| agent and what you should expect from your | | | | of your home. This confidentiality is limited to legal |
| agent as well as your agents obligations to you as | | | | activity, and they must disclose all defects in your |
| a seller. | | | | property. In Pennsylvania we are required to fill |
| Agents that are affiliated with a broker will work | | | | out and sign a disclosure sheet that would make |
| on a commission. A selling agent will receive a | | | | any buyer aware of these defects before they |
| commission for listing your home and finding | | | | would sign a sales agreement with you. |
| prospective buyers for your home. The | | | | - Disclosure-Your selling agent is obligated to |
| commission paid to agents in our state of | | | | disclose any information to you that would be |
| Pennsylvania are generally 6% of the final selling | | | | considered critical to the sale of your home. |
| price of your home. If your selling agent also sells | | | | - Accounting-Your selling agent is obligated to |
| your home they receive all of the commission. If | | | | account for all hand monies or properties held on |
| another real estate agent sells your home your | | | | your behalf. |
| selling agent splits the commission with the other | | | | - Licensed-Your selling agent should be a licensed |
| agent. | | | | agent in the state in which you are selling your |
| So what should you expect from your selling | | | | home. They should be familiar with the laws in |
| agent? I have always started by interviewing the | | | | regards to selling your home in that state or refer |
| selling agents before I made a decision. | | | | you to someone who is. |
| Communication is the key for their to be a good | | | | It's very easy to become anxious when selling |
| working relationship and short interviews with | | | | your home but choosing a good agent is key to |
| prospective agents should help you in your final | | | | your success. Take your time in making your |
| decision. | | | | decision, don't be afraid to ask for referrals. |
| Your selling agent has certain responsibilities to | | | | Consider the amount of experience they have |
| you the seller. These are sometimes referred to | | | | and if they have the time necessary to focus on |
| as fiduciary duties. Fiduciary duties are to be | | | | selling your home. Many agents are interested in |
| considered as the highest business or legal | | | | listing homes and letting other agents do the leg |
| relationship owed to you the seller and acting in | | | | work. A good selling agent will make every effort |
| accordance with any state and federal laws. | | | | in finding a buyer by networking with other |
| These fiduciary duties that are considered | | | | agents, brokers and buyers to get the job done. |
| obligations to you are and should include include | | | | There are many types of agents that you should |
| the following: | | | | become familiar with. They are a seller agent, |
| - Loyalty-Your selling agent must place there | | | | buyer agent, dual agent, designated agent and |
| principal interest in you above all others and | | | | subagent. I will discuss all of these types of |
| themselves when working in regards to the sale | | | | agents in my next article. |
| of your home. They may not share nor are you | | | | |