Sell My House Working with Real Estate Agents and FSBO 2

Question 1

What questions should sellers ask when interviewing a listing agent?

Accepted Answer

What is your list-to-sale price ratio, average days on market, and what is your marketing plan for this home?

Answer

Performance metrics like list-to-sale ratio and DOM reveal how effectively an agent prices and markets homes, and the marketing plan shows how your specific home will be presented to buyers.

Question 2

What is a 'flat-fee MLS' service and how does it benefit FSBO sellers?

Accepted Answer

A service that lists a FSBO home on the MLS for a flat fee, giving sellers MLS exposure without paying a full listing agent commission

Answer

Flat-fee MLS services allow FSBO sellers to access the MLS for $100–$500, gaining buyer exposure without the 2.5–3% listing agent commission while still managing the sale themselves.

Question 3

What is an 'exclusive right to sell' listing agreement?

Accepted Answer

An agreement giving the listing agent the right to a commission regardless of who finds the buyer, including the seller

Answer

Under an exclusive right to sell agreement — the most common type — the listing agent earns a commission even if the seller finds the buyer independently, ensuring the agent is compensated for their work.

Question 4

What is a seller's net proceeds and how does agent commission affect it?

Accepted Answer

The amount the seller receives after paying agent commissions, closing costs, and mortgage payoff from the sale price

Answer

Net proceeds are what the seller actually receives, and commissions (typically 5–6% of the sale price for both agents combined) are one of the largest deductions from gross sale proceeds.

Question 5

What is an 'open listing' agreement and why do most agents refuse it?

Accepted Answer

An agreement where the seller can list with multiple agents and only pays commission to whichever agent brings the buyer; most agents avoid it due to low incentive

Answer

Open listings give agents little incentive to invest in marketing since any other agent or even the seller could complete the sale without them earning a commission.

Sell My House Practice Test

Sell My House Practice Test

Sell My House Working with Real Estate Agents and FSBO 2