Making your pitch: What sellers want to know 

Until recently, client presentations were largely the purview of listing agents. But with buyer agreements now required, and commissions more readily up for negotiation, agents on both sides of the transaction need to be ready to demonstrate their value.

And that means being prepared to answer whatever questions get thrown your way. While those on the sell-side may be accustomed to giving your spiel, knowing what sellers are likely to ask can help you be at the top of your game.

Last week, NAR released a list of questions for buyers to ask a real estate agent; now, they have a new list of 10 questions to ask a seller's agent. 

Here are the top takeaways. 

We've seen this before: Landing again at No. 1, NAR encourages consumers to ask if the agent they're considering hiring is a Realtor. If you are, you might as well play it up and get some mileage out of your dues: Reassure the prospective client that being a Realtor means you are ethically obligated to act in their best interests.

What do you do, and what do you know? NAR tells sellers to ask about the range of services the agent can provide and their depth of market knowledge. From there, NAR explains, the agent should be able to present a clear pricing plan — and back it up with data — that balances the goals of attracting offers quickly and ensuring those offers are fair and satisfactory.

Contracts and pay: While many buyers may be new to the idea of representation agreements, the concept of a listing contract shouldn't take sellers by surprise. Still, it's no less important to explain the terms of the agreement to your seller clients. NAR tells consumers the contract will "lay out the type of professional representation your agent will provide and what they will be paid for those services" — something the association explains in much greater detail in a separate guide dedicated solely to listing agreements. 

And, as has been the theme of the lawsuit and settlement era, NAR emphasizes that "agent compensation is fully negotiable and not set by law." 

Finding buyers: NAR recommends that sellers ask about types of marketing methods — and the pros and cons of each — including the use of the MLS. While it doesn't explicitly recommend the MLS, NAR refers to the platform as one which can help sellers "reach the largest possible pool of buyers." NAR's Clear Cooperation Policy, which requires agents to add listings to the MLS within one day of marketing them publicly, has come under fire in recent months. 

To compensate, or not to compensate: NAR also mentions buy-side compensation, suggesting that sellers ask agents if offering compensation or concessions is a good strategy. It "may lead to a better or faster offer," NAR says. Be prepared to share your perspective based on your experience (and your market), but be conscious of steering — or even the perception of steering. 

Over the summer, NAR offered narrow guidance around the issue of steering, noting that a listing broker should inform the seller about "the costs the buyer will incur, how the buyer might react to those costs and how the seller can market a house considering the buyer's costs" — but emphasizing that the information shouldn't be presented as a threat: "A listing broker must not tell a seller that a broker will steer buyers based on the amount that broker is compensated," NAR says. In other words, listing agents can't tell their clients that if they don't offer compensation, they may get fewer showings.

A consumer drumbeat: NAR has been steadily rolling out consumer guides since the summer, some directly related to the commissions litigation and ensuing settlement, and others offering more general advice for buyers and sellers.  

The full set of guides can be found at NAR Settlement: Get the Facts.