When you list your home you enter into a contractual relationship for professional real estate services. Keller Williams Realty Red Stick Partners uses the forms recommended by the Greater Baton Rouge Association of Realtors and those mandated by the Louisiana Real Estate Commission and the Federal government. This assures compliance with the agreed upon best practices in real estate as well as any regulatory requirements.
Many clients appreciate having an opportunity to read these in advance of our listing meeting to be sure we address any questions or concerns that they may have. You can download them directly from this site.
All licensed agents in the State of Louisiana are required to present a Real Estate Agency Disclosure to prospective clients at their first meeting. My responsibility as your agent is to work for you in your best interest and to represent you. That part is pretty straightforward. The area where sellers most often have questions relate to the compensation and responsibilities of the buyer’s agent. When you list your home with me and Keller Williams Realty Red Stick Partners the real estate commission/professional fees you agree to pay includes compensation to the buyer’s agent’s brokerage. However, it is important to understand that even though you are paying the fee, the buyer’s agent is responsible for representing the buyer.
With your permission, a sign with my name and Keller Williams’s will be in your front yard. What happens when a prospective buyer calls me for information, whether they call from the sign in the yard or in response to any other advertising whether it be in print or online? That’s your choice and it is important to consider. Of course I will provide information about your home, but what about representation of the buyer? Some sellers would prefer that their agent only represent them. Others are comfortable with the idea that their agent might also represent the buyer. When a single agent represents the seller and buyer on the same transaction it is called dual agency. Because there is an opportunity for conflict of interest, the only way that I can provide that service is with written permission, in advance, from you and the buyer. Should you feel uncomfortable with dual agency I am happy to refer a buyer interested in your home to another Keller Williams agent to represent them.
Although there are some exceptions, the Louisiana Real Estate Commission requires all sellers to provide certain information about their homes to prospective buyers. It is important to take the time to complete this form to the best of your knowledge.
Some sellers are worried that if they disclose something negative about their home it will be detrimental to the sale. My experience, however, suggests the opposite. Buyers know there is no perfect home and a property disclosure that is incomplete or contains multiple don’t know responses can generate more questions and make buyers feel uncomfortable. In addition, disclosure is a legal requirement; it’s not optional. Buyers and their agents know that. Whatever it is, this is the time to disclose it.
If your home was built prior to 1978 it is likely that lead-based paint was used in your home. The lead can cause health risks, particularly to young children, pregnant mothers, and pets if paint dust is breathed or paint chips are swallowed.
Since 1996 the Federal Government has required all owners of homes built before 1978 to disclose known lead-based paint hazards and provide copies of any related reports to prospective buyers. Sellers must also provide a pamphlet titled Protect Your Family from Lead in Your Home published by EPA, HUD and the Consumer Product Safety Commission, and allow a 10-day period for inspections or risk assessments. The cost of these inspections is the responsibility of the buyer.
The Listing and Marketing Agreement is Keller Williams Realty Red Stick Partners’ contract with you for services. It identifies me as your designated agent and identifies the terms of our relationship including the asking price of your home, our fees, and the length of the contract. It also includes a legal description of the property, identifies items that remain or are reserved when your home is sold, and any warranties that you provide.