Details of a Listing Contract

Other than the name of the seller and the address of the property, there will be many other things included in the listing contract, and you should be aware of them.

The price will be the main concern when setting the terms of sale. By keeping track of other sales in the neighborhood, you should have a basic idea of what your home is worth. Plus, if you have interviewed at least two real estate agents, they should have given you their own estimates. Heed cautiously in determining your asking price, making sure not to set it too high or too low.

Other than the price, you will disclose what personal property, if any, will be included with the house when you sell it. Personal property is anything that is not attached or affixed to the home, such as refrigerators, washers, dryers, etc. You may have an item that you consider "real property" and do not intend to include in the sale. Real property is anything that is attached to the home. A good example would be a chandelier that has been in your family for generations. You take it from home to home when you move. The chandelier is attached to the house, so it is considered "real property" and a reasonable buyer would normally expect it to come with the house. The listing contract should make clear that it does not, and it is your agent's job to enter this information with the Multiple Listing Service.