Final answer:
Instructions to an owner upon taking a listing include disclosure of competing properties, maintenance of the property, and marketing strategies. However, information on negotiation tactics is usually not included as it is part of the real estate professional's expertise.
Step-by-step explanation:
When an owner takes a listing, the instructions they should receive include various tasks necessary for effectively selling the property. These instructions typically cover a range of topics, but they do not usually include negotiation tactics. Negotiation tactics are typically reserved for the real estate agent or broker handling the sale, as they have the experience and training required to negotiate the sale price and terms on the seller’s behalf.
The instructions will typically include details about disclosure of competing properties, so the seller is aware of other local homes for sale that might impact their sale. They also include guidance on the maintenance of the property to ensure it is in good condition and appealing to potential buyers, along with marketing strategies to promote the property effectively.
The inclusion of details about competing properties could help manage the seller’s expectations about pricing and timing of the sale. Additionally, maintenance advice is critical as a well-maintained property is more likely to attract buyers and command a higher price. Marketing strategies are also key, as these will determine how the property is presented to potential buyers and could include staging the home, photographing it professionally, and listing it on various real estate platforms.