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A homeowner who wants to sell his or her home should hire the services of a local real estate agent or broker. Selling a home by owner is challenging because homeowners simply do not have enough time to deal with the process.

A real estate agent will list a home for sale on MLS, Multiple Listings Service. This is a national database that features millions of homes that are on the real estate market. The agent will advertise the home properly to increase the chances of selling the home. The first step is to take professional quality photographs and videos and to insert them into the MLS listing. Then, all of the necessary information about the home must be filled out in the MLS listing.

The MLS listing is usually set up on the real estate agent's website or the local agency's website for which the agent works for. Anyone in the country with internet access can view the MLS listing. An interested client will then contact the agent and ask further questions about the home. Then, the agent can schedule a showing appointment to show the clients the interior and exterior of the house. Before a showing, both real estate agents will check the potential buyers' credit history and personal income to determine if they can afford the home.

The great thing about selling a home through MLS is that the listing agent does not have to do anything after posting the listing. Usually, another real estate agent will show that listing if it matches the criteria of clients that are interested in buying a home in the local area. The selling real estate agent only has to wait for phone calls from a buying agent and schedule showings.

When a home is sold, a commission has to be paid to both real estate agents involved in the process. Depending on the state and personal preferences, the buyer may have to pay the full commission amount to both agents. In other situations, the seller will have to pay half of the commission fee. The commission is usually based on a percentage rate from the final sale price of the home.

The closing costs are some other major expenses involved in the process of a home sale. However, the owner usually pays a small portion of these costs because the buyer will cover most of them. In the end, the seller will still have to pay a real estate lawyer for the proper documentation such as title transfers.

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14y ago

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