Dean Graziosi

Selling a home is usually easier if you use a real estate agent to help you with the details and the deals. When you do use an agent, you will normally have to sign a listing contract or agreement to start the ball rolling. This may be the first paperwork you do regarding selling your home, so it makes sense to learn about it before you go to your first meeting with your agent.

Dates

The dates of the contract are very important. If you want to get started right away, you will want the start date to be set for the current date. Another thing to factor in when thinking about the dates on the contract is that you might not be satisfied with this real estate agent. You might not want an indefinite or very long-term contract, at least not at first. Do not accept any date you are given blindly, but have your say about how long you want to commit to the contract.

List Price

You and the realtor will determine the price you want to set for the property on the listing. This figure will be included in the contract as the listing price. This does not mean that you will be bound to sell the house at that price in every situation. It means that you have agreed on a price for the property for listing and marketing. It could also affect you if you back out on a deal.

Compensation for the Realtor

A section of the listing contract will outline the way the real estate agent will be paid. It will say whether the fee is a flat fee or a percentage of the total amount of the sale. Then, it will set out the amount for that fee, either in dollar amount or percent.

When the Seller Pays

The next part of the listing contract will define the terms and conditions relating to when the seller will pay the realtor. These may be complex. They may include provisions for what happens if you abandon the contract. There also may be a clause that compels the seller to pay the commission if the real estate agent has found a qualified and willing buyer who will pay the asking price, even if the seller reneges on the deal.

Working with Other Real Estate Agents

The listing contract may include details about how the real estate agent may cooperate with other real estate agents. If so, it will also spell out how those other realtors are to be compensated.

Responsibilities of Seller and Agent

The responsibilities of the seller and agent will be explained in the listing contract. The seller is generally required to tell the agent important information about the property. The agent is required to convey all the rules and regulations that apply to selling the home.

Signing a listing contract is a big step. There are many factors to consider and it is important to understand the paperwork in front of you. Make sure you understand all the parts of the contract before you sign on that dotted line.

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Moving from one place to another can be a difficult proposition. If the move is from one city or state to another, it can be even more trouble to get everything done. Many people will try to shortcut the process by using the same Realtor for both selling their old home and buying another. Here are 3 very good reason s why that is a bad idea.

1. Buyers’ Agent vs. Sellers’ Agent

A Realtor generally works as either a buyers’ agent or a sellers’ agent. At the very least, most Realtors have the bulk of their experience as one or the other. The best move you can make is to get the best person for each job. Your buying specialist will know and help you with all the details of choosing, inspecting, and dealing on a home you are purchasing. The sellers’ agent will know the best ways to put your old home on the market, prepare it for sale and make that kind of deal. Let each expert shine.

2. Knowledge of Location

It is always best to work with a Realtor who has personal knowledge of the city, and especially the state where you want to live. They can then help you find the best neighborhoods, the best schools, and the best areas for transportation. They are more likely to know people who are looking to buy or sell homes in that location than someone who is working from afar.

3.  Knowledge of Local Rules

A long distance move usually entails working with different laws, rules and regulations in buying or selling a home. In selling the home, you will need to be sure you have satisfied all the local requirements for inspections, disclosures, and other paperwork. As a buyer, you will want to make sure you are getting the full rights that are afforded to you in the locale you are moving to. Unless one Realtor works in both locations, it makes sense to use two separate people or agencies.

When to Break This Rule:

 Every rule has a breaking point, and this rule is no different. There are some times when using one Realtor can actually help the move go more smoothly. For example, if you are moving from house to house within a metropolitan area, one Realtor would probably have enough knowledge of the place and laws to guide you well in both areas. Then, a quick move may be easier to accomplish because your one Realtor is orchestrating both the sale of the old and the purchase of the new so that they can happen as close together in time as possible.

Learn about the background, qualifications, and locality awareness of each Realtor before you sign on. In the end, only you can make the decision to use one Realtor or to use two completely separate Realtors for buying and selling your properties in a move.

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Fannie Mae s one of two government-backed mortgage enterprises responsible for ensuring the liquidity of the mortgage market. The recent economic meltdown resulted in a lot of government bailouts. These bailouts were not just limited to banks but also to the real estate sector; to Fannie Mae and its twin, Freddie Mac. The resulting effect was tighter controls on the institutions leading to even more foreclosures flooding the market. All of a sudden, people who were once considered prime purchasers were not unable to meet the steep conditions set by the institutions and could not qualify for housing loans.

The direct result of this is that even though there are now more foreclosed properties on the market than ever before, there is even less buying going on because getting a housing loan is now a rigorous process for prospective purchasers.

Probably as a result of this and other developments in the real estate sector, Fannie Mae recently released a couple of incentives geared towards homebuyers and realtors. These are financial incentives provided on sales of HomePath properties and run through October. According to a press release by Fannie Mae on June 11, the goal of the incentives is to stabilize neighborhoods and is only available to buyers who intend to purchase as a primary residence.

For homebuyers, the incentives offer up to 3.5 percent of the final sales price to put towards closing costs. Realtors representing the owner occupant buyer get to receive a $1,200 bonus on the sale. These are for HomePath properties and for buyers who intend to live in the purchased property as a primary residence. Besides these, there are also some other conditions which must be met in order to qualify for these incentives.

Conditions

One of the conditions is that the buyer or the agent representing the buyer needs to request the incentive upon submission of the initial offer.

The initial offer needs to be submitted on or before June 14, 2011 and any offers made before that do not qualify for the incentives.

Also, the deadline for the incentives is October 31, 2011 and it is absolutely mandatory that the sale close before that date as there would be no extensions to that deadline.

Sales made by pool or auction will not be eligible for the June 14, 2011 to October 31, 2011 incentives.

Any property that was acquired by Fannie Mae in connection to a financing under a reverse mortgage is not eligible for this incentive.

In order to qualify, a buyer has to sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.

These are the main conditions although there are a few more which are available on the website, homepath.com.

It is important to note that Fannie Mae also has a lot of other incentives available for homebuyers which can be found on the Homepath.com website.

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