When listing your Makakilo home with a Makakilo real estate broker you will be required to sign an agreement. This document will outline all of the agreed upon terms, including the asking price of the Makakilo property, the real estate agent’s commission, length of the agreement, cancellation policy (if any) and other details that will govern how the Makakilo listing is handled. As a homeowner, it’s important to choose the right listing agreement to fit your needs.
Evaluate Your Options
When you decide to sell your Makakilo home, talk with several different Makakilo real estate agents. Speak with them over the phone, meet with them in person, ask for references or do anything that you can to get a feel for how they do business. In Makakilo real estate, punctuality is a must. The Makakilo real estate agent that you choose should return your calls, answer your questions and should provide a listing agreement that coincides with any verbal agreements that you may have had regarding the listing. For instance, if you tell your real estate agent that you only want to list your Makakilo property for six months, make sure the listing agreement reflects six months and not one year or longer. In addition, make sure that your asking price is the same in the agreement as you agreed upon in earlier discussions.
Exclusive Right-To-Sell Makakilo Real Estate Agreement
This contract is the most common in the Makakilo real estate industry. With this agreement, the Makakilo real estate agent will earn a commission regardless of whether they sell the house or you sell the house yourself. Always make sure you understand what you are signing.
Open Real Estate Listing Agreement
This type of contract allows a homeowner to list with more than one real estate agent in a non-exclusive manner. The agent responsible for presenting a buyer who purchases the Makakilo property will receive the commission, which means Hawaii real estate brokers will compete to see who can sell the house first. If the owner eventually sells the Makakilo home without the help of a real estate agent, they are not required to pay anyone a commission. An Open Listing Agreement is not common with REALTORS®, but it is one option to consider.
Exclusive Makakilo Real Estate Agency Listing
This type of agreement requires that the homeowner list their Makakilo 0property with only one Makakilo real estate agency. Unlike an Open Listing Agreement, where the homeowner can list their Makakilo property with multiple REALTORS®, an Exclusive Agency Listing entails only one agency being granted permission to list the Makakilo home.
Read The Fine Print
Before signing any type of contract, homeowners must read over every detail to ensure that it represents the full agreement between themselves and their Makakilo real estate agent. Some things to consider include the length of the contract. Some Hawaii real estate brokers prefer to have a minimum of one year to list a property, but the homeowner will have the option to negotiate. Some owners prefer a shorter term, such as one to six months.
Every Makakilo real estate contract should outline a cancellation policy, which will provide details surrounding a release and/or fees and penalties. Some agents will offer a cancellation policy that allows the homeowner to cancel the contract by providing a 30-day written notice at any time.