Preparing for listing

As the seller, you hire an individual real estate broker to represent you during a specified contract period. This represents you during a specified contract period. This written document is call a "Listing Agreement." A real estate agent or sales associate will meet with you personally to prepare the agreement.

Before you actually list your house, however, both you and your sales associate must do some homework.

To prepare for the listing appointment, you will need to collect and provide the following information:

• The legal description of the property.
   
• The number of rooms and their sizes. Past utility bills, property taxes and insurance.
   
• Information about your mortgage, including the type, terms and assumability.
   
• Any liens against the property.
   
• Special items or improvements about the house. Be sure to point out things that may not be apparent to others as they walk through the house.
   
• The positive points about your neighborhood, such as demographic information and proximity to services, shopping, schools and other areas.
   
• Any defects that aren't apparent. You have an obligation to the sales associate so that buyers can be informed.

The sales associate will study recent sales of comparable homes in the neighborhood as well as listing of similar homes that are currently for sale. Using a comprehensive real estate information tool – called the Home Buyer's Guide T-III – your associate will be able to show you solid facts and figures. We want you to get the best price for your home in the shortest time possible. To do this, you need accurate and current information about the real estate market.