Selling Property in the Des Moines Area

With residential property, a seller approaches an MLS participapting broker, for example RE/MAX, to help sell their property on consignment, meaning the seller will pay a fee only if the home sells. This broker has already fulfilled certain requirements set by the State of Iowa to be able to handle the sale.

The broker will often have representatives, Agents, such as myself, working for RE/MAX Real Estate Concepts, that will actually represent the client with the sale. Agents who are members of the National Association of Realtors, and in turn The Iowa Association of Realtors, and the Des Moines Area Association of Realtors, may call themselves REALTORs and use the term, REALTOR®. Agents at Next Generation Realty conversely are not REALTORS.

LISTING THE HOME

Real estate agents in most cases are commissioned salespeople. They use the brokerage to list the client's property for sale. So, for example, if a seller wants to sell-list a home with me, the seller signs an agreement whereby the brokerage will take the listing, and I will be his agent-representative on the sale. I put a sign in his yard that identifies me, Matt Grohe, and identifies the Broker, RE/MAX.

The property is also put on the MLS where any agent who pays a subscription fee may view it. Although the public may also view it free on Realtor.com, DMAAR.com, Yahoo!, MSN, and so on. There are about 1700 agents in the area, and thousands of searches on DMAAR.com and Realtor.com, so getting the property on the MLS provides very good exposure to the marketplace.

THE MLS AND COOPERATION-EXPLODING THE MYTHS

As I have stated, in the case of RE/MAX and most other Brokerages in the area, any MLS participating agent can show a home listed by another brokerage to a prospective buyer, that includes agents from RE/MAX, Coldwell Banker, 1st Realty Prudential, Iowa Realty, All 9 Yards, Pasutti Realty, Moulton and Associates, Burnett Realty, Realty Xperts, Horstmann Realty, Hunzicker and Associates and many more. This is confusing for buyers and sellers alike.

The perception seems to be that listings are exclusive, for example a RE/MAX agent can only show RE/MAX homes, or that agents with another brokerage get angry if I want to show the buyer a home listed by say, Burnett Realty. Honestly, they do not get angry, they welcome the showings in most cases, because agents want to sell homes so that the seller can pay them! Sure agents would like to sell the homes they list themselves, but in the MLS we cooperate, so it is OK for buyers with a RE/MAX agent for example, to buy a home from any MLS listed Broker, or any other seller for that matter. In fact, if a property is MLS listed, in the vast majority of cases the agent or seller cannot prevent a qualified buyer from viewing the home, period.

SELLING  AND CANCELING

When a seller works with the broker it is on a contingent basis in most cases. This means that the seller will pay no fees unless the property sells. The seller may also withdraw the property from the market at any time without penalty. With most brokerages there is no obligation, but if you choose to cancel your listing, the brokerage may give you a list of protected buyers.

CLOSING COSTS

When the property closes there will be some additional costs such as abstracting fees, transfer tax, deed preparation, termite inspection, home warranty and so on. Your agent should provide you with a list of those charges before you list your home. Those costs will be deducted from the sale price of the home at closing. A list of all the charges and credits, called a HUD-1 Settlement Statement, must be provided at least one day prior to closing.

If you would have further questions about this topic, or would like to be contacted about selling your home, simply fill in the contact form below. You will be contacted promptly. Thank you.