REAL ESTATE LINGO LISTING CODE

This term can be modified to the number of bed/baths in any home. The first (4B) being the number of bedrooms and the last (2B) being the number of bathrooms. Below are some common terms to get you up to speed.ĤB/2B: Refers to the number of bedrooms and bathrooms. In other words, listings agents work hard to earn that commission and get your home sold.Realtors often use jargon or acronyms that are unfamiliar to first-time buyers. This price may seem substantial, but consider this: For every hour an agent spends with you, he will spend an average of nine hours behind the scenes working on your behalf. If it does, the typical agent commission is 6% of the price of your home (which is typically split between the listing agent and the buyer’s agent). Listing agents don’t receive a dime unless your home gets sold.

Are you planning any vacations, and if so, who will back you up?.

Is this your full-time job? (A part-time agent is not a problem, but you will want to gauge her availability during off-hours.).

REAL ESTATE LINGO LISTING CODE

Are you a member of the National Association of Realtors®? (Realtors must abide by the group’s code of ethics.).Can you recommend contractors, photographers, moving companies, etc.?.Do you have advice for me about the condition of my home, and what could be improved to glean a higher sales price?.In what price range do you sell most of your homes?.How many homes have you sold in this area, and how long did it take?.Here are some questions to ask a prospective listing agent: Choose at least a few and ask them some questions to assess whether they’re right for you. Don’t just move forward with the first agent you meet. If you’re looking for a listing agent, you can find ones in your area at /agentconnection, where you’ll find such details as their years of experience, number of homes sold, clients’ reviews, and more. These compromises can actually save you tens of thousands of dollars. But a listing agent might be able to negotiate with the buyers and bring that price up to a decent level-or, if the buyers truly can’t budge much, find other ways to sweeten the deal like a faster closing date or waived contingencies. For instance, if you get an offer way below asking price, your knee-jerk reaction may be to refuse in a huff. Once you get an offer on your home, it’s the listing agent’s job to present it to you and advise if any haggling needs to be done. Enter your address and answer a few questions to get started. How listings agents negotiate with buyersįind out what selling options are available for your home. Coordinating showings with prospective buyers.Adding your home to the multiple listing service, where home buyers and their agents can view your property and decide if they’d like to come visit for a closer look.Taking photos or hiring a photographer who will be able to highlight your home’s best features.Yes, these alterations will cost you time and money, but they will improve your chances of a faster sale and higher asking price. Recommendations for home improvements or home staging, if necessary.How listing agents help you sell your homeĪfter you determine an asking price, a listing agent should provide you with a comprehensive marketing plan detailing how she’ll get your property sold. To do this, a listing agent will analyze the sales prices of comparable homes, or “comps,” in your area to see where yours should fit in, and advise you accordingly. “Listing agents have many duties and responsibilities, but at the top of the list is to properly price your home,” says Janine Acquafredda, a Realtor® with House-n-Key Realty. While it may be tempting to work with an agent who says he can fetch a fortune for your home, overpricing may mean your home languishes on the market for months or even years-making buyers wonder if something’s wrong with your home and lowball you anyway. Price it too high, however, and the picture isn’t pretty either. And the stakes are high: Price your home too low, and you could lose out on a lot of money.

Real estate lingo listing