In my last

column, I wrote about the importance of using a Realtor

when you are in the process of buying real estate.

Dealing with a "real" real agent, or Realtor,

is just as important when you are selling real estate.

Pricing

This

process generally starts by determining a reasonable

asking price. Your real estate agent can provide you with

current information on what is taking place in the

marketplace and the price, financing, terms and condition

of competing properties. These are key elements in

getting your property sold at the best price, quickly and

with minimum hassle.

Marketing

The next

step in the process is a marketing plan. Often, your

agent can recommend repairs or cosmetic work that will

significantly enhance the salability of the property.

Marketing includes the exposure of your property to other

real estate agents and the public. In many markets across

the country, over 50 percent of real estate sales are

cooperative sales, wherein a real estate agent other than

yours brings in the buyer.

Your agent

serves as the marketing coordinator, disbursing

information about your property to other real estate

agents through a Multiple Listing Service or other

cooperative marketing networks, open houses for agents,

etc. The Realtor Code of Ethics requires Realtors to use

these cooperative relationships when they benefit their

clients.

Advertising

is a vital part of marketing. The choice of media and

frequency of advertising depends a lot on the property

and specific market. For example, in some areas,

newspaper advertising generates telephone calls to the

real estate office but statistically has minimum

effectiveness in the actual sale of a specific property.

Overexposure of a property in any media might give a

buyer the impression the property is distressed or the

seller is desperate.

Your real

estate agent will know when, where and how to advertise

your property.

There is a

misconception that advertising sells real estate. The

National Association of Realtors studies show that 82

percent of real estate sales come as the result of agent

contacts through previous clients, referrals, friends and

family and personal contacts.

Security

When the

property is marketed with the agent assistance, you do

not have to allow strangers into your home. Agents will

generally pre-screen and accompany qualified prospects

through your property.

Negotiating

The

negotiation process deals with much the same issues for

both buyers and sellers, as stated in the previous column

about the buying process. Your agent can help you

objectively evaluate every buyer's proposal without

compromising your marketing position. This initial

agreement is only the start of a process of appraisals,

inspections and financing - a lot of possible

pitfalls. Your agent can assist you in writing a legally

binding, win-win agreement that will be more likely to

survive the process.

Monitoring,

renegotiating and closing

Between the

initial sales agreement and closing (or settlement),

questions may come up. For example, unexpected repairs

are required to obtain financing or a problem with the

title is discovered.

The

necessary paperwork is overwhelming for most sellers.

Your agent is the best person to objectively help you

resolve these issues and expedite the transaction to

closing (or settlement).

[The

Fayette County Board or Realtors is one of more than

1,800 local boards and associations that comprise the

National Association of Realtors. As the nation's largest

trade association NAR is "The Voice for Real

Estate," representing nearly 750,000 members

involved in all aspects of the real estate industry. The

Fayette County board can be contacted at 770-461-2401.

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