REALTOR® Magazine Online: 6 Things Every Listing Package Must Have

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	Listing Prep Powerful Prelisting Advanced tip Advanced tip For the Broker: The Listing Presentation Advanced tip Listing Facts in an Instant Top Listing Presentations Making Your Best Pitch Step by Step Through the Listing Presentation Advanced tip Perfecting Pricing Countering Objections Advanced tip Special Presentations for Special Groups (FSBOs, Relos) Quiz: Listing Bright Ideas: Listing More Resources: Listing Code of Ethics: Listing		THE LISTING PRESENTATION For the Broker If your sales team needs help to improve their listing skills , offer them some training. 6 Things Every Listing Package Must Have 1. A comparable market analysis, along with your analysis of the property. 2. A bio of you, emphasizing your competency. 3. A detailed marketing plan for the home. 4. A explanation of the services you’ll provide for your commission. 5. An agency disclosure form. 6. A listing agreement, ready to be signed except for the price and the terms. Keep It Legal Understanding Agency Relationships An agency relationship is the fiduciary relationship resulting when a person, the agent, represents the interests of another person, the principal, in dealings with others. In a real estate sales transaction, the relationship formed between the brokerage and a consumer often is an agency relationship, with the consumer being the principal (the client) and the brokerage, the agent. In general, an agency relationship is formed when the principal delegates authority to the agent to perform acts on behalf of the principal and the agent consents to the delegation. In an agency relationship, the real estate licensee owes certain fiduciary duties to the principal. The traditional fiduciary duties include: loyalty, obedience, disclosure, confidentiality, reasonable care and diligence, and accounting. The agent is obligated to act at all times solely in the best interests of the principal, excluding all other interests, including those of the agent. The agent is obligated to promptly and efficiently obey all lawful instructions of the principal that conform to the purpose of the agency relationship. The agent is also obligated to act only as the principal authorizes. The agent must disclose to the principal all known relevant and material information pertaining to the scope of the agency relationship. (This should not be confused with a licensee’s duty to disclose known material facts to non-principals, such as customers). The agent is obligated to safeguard the principal’s lawful confidences and secrets. Most state statutes specify what a licensee’s duty is as far as keeping confidential information confidential following termination of an agency relationship. The agent is obligated to account for all money and property belonging to the principal that are entrusted to the agent.. The standard of care expected of a buyer’s or seller’s real estate broker is that of a competent real estate broker. By reason of his or her real estate license, a real estate licensee is considered to have skill and expertise in real estate matters superior to the average person. If a principal raises a concern that is outside the scope of the licensee’s responsibility, the licensee should acknowledge that fact and suggest that the principal seek assistance from a reliable outside source. On the seller side of the transaction, the agency agreement often is part of the listing agreement. Every listing presentation should include a description of the agency relationship as defined by your state’s law. Creating CMAs, next page > Note: This information provides general legal information and should not be relied upon as legal guidance. Before acting, both the relevant laws and legal counsel should be consulted. This information should not be construed as specific legal advice nor as an opinion on particular facts, cases, or situations.		Keep It Ethical Agency requires you to make your client’s interest primary, while still treating all parties honestly. Make sure that agency agreements and disclosure statements are in writing and expressed in language all parties can understand. Article 1 and Article 9

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