While listing a property with an agent can be done quickly, you should keep a few things in mind to avoid potential disputes. The first thing to do is get a packet from the local title company with all the home’s details. It is important that you take the time to read through the title report thoroughly and contact a title manager if you have any questions or concerns, and know them well. After getting this packet, make sure of the following:
The agreed amount of money the realtor will receive after the home sells is spelled out in the listing agreement, this is also known as a 'Net Proceeds' sheet. In many parts of the country it is six percent, but it can vary and often that amount is negotiable.
Exclude anything the homeowner wants to keep after the sale is final. For example, if the window coverings are not part of the sell it should stated in the listing agreement. Often, the Seller will tag these items as well.
It is important to correctly list the square footage of the home and other important details; this is the information that will be listed on the MLS and should all be correct. People count on this when they are buying a home, and it could be disputed if the important facts are wrong.
If the sale of the home is complicated by a divorce, be aware that both parties must sign the listing agreement. One of them cannot put the house up for sale because they both legally own the home. When it comes time for closing they must both sign, so it is important to have all the correct signatures on the listing agreement.