What is a Seller Representation Agreement?
A Seller Representation Agreement (SRA) is a signed document between the property owner and the company / agency representing the property owner to effect the sale and / or rental of a property or multiple properties for that matter. The seller representation agreement establishes well-defined limitations on the brokerage’s authority, provides detailed information regarding the property and assists when answering inquiries from prospective buyers. This representation agreement also provides the foundation for offer negotiations, the drafting of an agreement of purchase and sale and, if necessary, a mortgage application.
Benefits of signing a Seller Representation Agreement?
A number of benefits are enjoyed by the property owner when such a document is signed. Below is a list of such benefits:
- Trust is established with the real estate agency.
- Dedicated service is provided to the property owner with frequent property updates
- Property research, market evaluation and pricing analysis of the property
- Specific marketing plan for the particular property will be prepared
- Advertising the property to a targeted client base online and offline
- Communication with all the other interested parties regarding the property
- The property owner doesn’t need to deal with hundreds of agents.
- All agent communication can be handled by Mister T
- Expert advice will be available on property issues and market trends
The Misconception
It has been observed and understood that many property owners think realtors carry clients in their pockets and that they could bring clients if given the opportunity, this is a major misconception. Realtors are channels to reach clients and they know where to find such clients and how to get across to them. It’s a skill and not all are smart and skilled in sourcing clients. Picking the right realtor means picking a realtor who will get the job done and that is what professional realtors do, they focus on getting the job done.
Get in touch with Mister T and get the job done! Happy Property Experience!