Agency Information

What is a Seller's Agent?

A seller can engage the services of a real estate agent to list their property for sale.  Upon execution of a mutually acceptable listing contract, the real estate agent becomes the agent for the seller, or commonly referred to as the listing agent for the property.  In these circumstances, the seller becomes the client of the listing agent, who in turn has a fiduciary duty to act on behalf of the seller.  Specifically, the listing agent would owe the seller undivided loyalty, reasonable care, obedience to lawful instruction, confidentiality and accountability, provided that the agent must disclose known material defects in the property to potential buyers under Massachusetts' consumer protection laws.  The agent must put the seller's interests first and negotiate for the best price and terms for their client, the seller.

Selling your property

When you are ready to sell your property you will choose a listing agent to represent you and your property.  The agents at Wallace & Co. Sotheby's International Realty are dedicated to helping sellers market and sell their properties, and always seek to meet the client's goals.  If you choose to list with Wallace & Co. Sotheby's International Realty, you will get professional, personalized service at every step - from the initial discussions on marketing the property through to the closing and beyond.  In the process, your agent at Wallace & Co.Sotheby's International Realty will work with you in a number of capacities, including preparing a competitive market analysis, determining the best marketing and pricing strategy, setting your advertising goals, and any other market research that will help you sell your property.  The listing agent will also assist you in making your home presentable for sale, offering suggestions about how to best show the property and what, if any, improvements ought to be made before putting the property on the market.  The listing agent will help you better understand laws and regulations such as fair housing requirements, septic regulations and lead paint laws.

Types of Listings - Exclusive Listing, Co-Listing, Tri-Listing

On Martha's Vineyard there are three types of listings, Exclusive Listings, Co-Exclusive Listings, and Tri-Exclusive Listings.An Exclusive Listing is when one real estate agency represents you as a seller's agent. Wallace & Co. recommends an Exclusive Listing Agreement because it insures that the seller receives the best possible service and it is less hassle for the seller.  With one agency in charge of selling and marketing your property, the seller does not have to organize the showings with other agencies and the seller does not have to coordinate the agencies involved.

A Co-Exclusive Listing is when two real estate agencies represent you. 

A Tri-Exclusive Listing is when three real estate agencies represent you.