When you put your house up for sale, it's called a "listing" because your agent lists the property on the open market or in the Multiple Listing Service to expose your house to the widest range of buyers. To do this you employ the agent to market your house by signing a contract. This listing agreement is signed at a listing appointment. The agreement contains:

• A complete description of your property.
• The price you're asking.
• An indication of the financing terms you will accept.
• The brokerage fee.
• The length of time the agreement is to be in effect.

When you sign the listing contract, you may agree to give your agent the "exclusive right to sell" your house for a certain listing period, at the end of which you may extend or terminate the agreement, depending on your satisfaction with your agent's efforts to sell.

You may agree to allow your agent to put a "For Sale" sign on your lawn, to run ads in newspapers, to send out direct mail brochures, and to make the property readily accessible so that other agents in the Multiple Listing Service can show your house.

Your agent should agree to actively market your house, list your property in the MLS, and keep on top of all aspects of getting to settlement, including appraisal, loan approval, termite inspection, etc.

What should I do to get ready for a listing appointment?

A listing appointment is most productive if you have the following information on hand. Because the list is long, we've divided it into essential items and optional items:

Essential Information

• Your property tax payments and/or condominium fees for the past year.
• Your loan account number and loan balance, your interest rate if possible, your PI.T.I. (principal. interest, taxes, insurance), and the amount of assumable mortgage money available if any. Your agent will help you notify your lender of your intention to pay off your loan, which lessens the amount of prepayment penalty and interest you may or may not be subject to, depending on your lender's terms.
• A list of personal property that will go with the house (also "convey") when you sell. If removing the item will create needed repairs, the item is considered real property that goes with the house unless otherwise indicated.
• A list of personal property that will not go with the house.
• Legal property descriptions.
• Homeowner's association or condominium by-laws.
• A list of major unresolved defects which should eventually be disclosed to a buyer If you have a major problem you don't intend to correct, be candid about it. Honest disclosure is always best.

Essential Information

• Your utility bills for the past year.
• A list of all the energy features (insulation, etc.) including energy improvements you've made (solar hot water heater, etc.) with utility bills ideally before and after to illustrate the savings involved.
• A certificate, if available, showing your house is free of termites. Inspection can be ordered later.
• A list of property tax assessments and any existing easements.
• A certificate of current inspection of your septic tank and well if you have either.
• Any documentation available of other house-related matters such as:
     a) Warranties still in effect on electrical, heating, cooling systems,
         appliances, etc.
     b) A property survey or house location plat.
     c) A floor plan if you have one.
     d) Title insurance policy.
     e) A professional property appraisal if available.
• A list of special features that you think would help sell your house, such as extra storage, built-ins, or a generator to insure against power outage, etc.
• A list of the features you personally like about your house and neighborhood.
• A map of the area. pinpointing the convenience of schools, transportation. shopping, recreation.

Anything that you think would help get your home sold quickly, profitably and with the least inconvenience to you.

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