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When a seller chooses a real estate agent to market and sell a property, the seller engages in a relationship with that agent to accomplish their mutual goal—to sell the property. While it is the seller's right, exclusively, to set the asking price, it is the listing agent who will assist in the process by educating the buyer about similar properties and their sale prices. Often, a seller and a Realtor choose to arrange an exclusive right to sell listing. Under an exclusive right to sell agreement, the listing broker is given the right to earn a fee for professional services if the property is sold by anyone, including to a buyer located solely through the efforts of the owner. A listing agent engaged to help you sell your home works with you in a number of capacities, including determining the asking price. It is the listing agent who researches the sale prices of similar homes in your area to show you what you might reasonably expect to garner from the sale of your property.

A listing agent also will 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. The listing agent will inform the seller about laws and regulations such as fair housing requirements, septic regulations and lead paint laws. Any forms or disclosure documents required by law can be obtained through the listing agent. The listing agent may provide you with a yard sign, and advertising - at no extra cost. Often, the listing agent will conduct an open house, and utilize the Realtor multiple listing service and the Internet in an effort to market your property to qualified buyers. The listing agent is the seller's advocate during sale negotiations, presenting offers to the seller and counseling the seller about the qualifications of potential buyers. The listing agent, in fact, is required to present all offers to the seller. It is the listing agent who will assist in coordinating deadlines and closing dates, making sure all documents are signed, sealed and delivered on time.

Other agents and their role in selling your property
In addition to exclusive listings by the seller's agents, there also are buyer's agents (exclusively), and disclosed dual agents, who represent both buyers and sellers, though they are required to make that disclosure. The seller may authorize his or her listing agent to cooperate with agents from other firms to help sell the property. These are cooperating agents, and the seller may obtain broader exposure for a property by authorizing a listing broker to compensate a cooperating agent, or co-broke, who successfully procures a buyer. Any of these professionals can help buyers determine how much they can afford to spend, research properties available on the market within their price range, and provide important disclosures about the property being shown. They can provide prospective buyers with standard forms, including the purchase and sale contract, and the offer. They can provide information about schools, zoning and taxes, as well as provide information to both buyer and seller concerning services offered by home inspectors, septic inspectors, lenders, insurance companies and the like.

Additionally, any of these agents may provide information on financing and legal representation, and may accompany buyers to the home inspection. However, only the buyer's agent can assist in formal price negotiations on behalf of prospective home buyers. All real estate licensees must act fairly with all parties, including those to whom they are not contractually obliged. For example, a seller's agent who is aware of a material defect in the property must disclose the fact to buyers, although he or she is not required to conduct his/her own search to determine such problems. Likewise, a buyer's agent may disclose to buyers (if he/she knows) how long a property has been on the market, the willingness of the seller to accept a price below the asking price, or the seller's motivation for selling (i.e. bankruptcy, divorce, etc.). A disclosed dual agent can, in some cases, work with both buyer and seller - even in the same transaction. A disclosed dual agent cannot offer undivided loyalty to the seller or the buyer but must treat all parties honestly and fairly.

Offer to Purchase
By law, real estate agents are required to present all offers to a seller. When answering questions about their property, every seller has the duty to respond fully and accurately to any request for information about a property. This is true whether the information is requested directly by a prospective buyer, or by a real estate agent who, in turn, may pass along the information to a prospective buyer. Answers that are misleading or are half-truths are improper and the seller may be liable for them. If the seller doesn't know the answer he or she should not guess, but should qualify the answer with this acknowledgement.

Once a seller receives an offer to purchase, he or she may counter offer, by accepting the offer with additional stipulations, including but not limited to a renegotiation in price. For example, the seller may accept the offer to purchase price, but require 30 days to find suitable new housing. Buyers and sellers should be careful when making offers and counteroffers to ensure that they understand all the terms and conditions in the offer and any contingencies included therein. Common contingencies in an offer to purchase can include home inspection, financing approval and lead paint inspection. The seller's agent will assist in finalizing the terms of the sale between buyer and seller in the form of a written purchase and sale agreement. This agreement once signed is a binding contract to which the seller and buyer will be obligated.