A listing agreement is a contract between you and a licensed real estate agent that authorizes the agent to represent you in the sale of your home. There are many different types of named contracts, but very few of them are used. The most common is the “exclusive right of sale”. But understands that there are many other types that allow you to choose the level of permission you want to give your agent. Here are some of them:
Open Listing
This type of contract is considered the most popular and is intended for people who want to sell their home and work with real estate. A contract gives agents the right to show your home and gives them a commission if the client decides to buy your home. The good thing about open listings is that there is nothing exclusive or mandatory about them. The bad thing is that you can expect less marketing or advertising.
One-time listing
This type of listing contract is almost identical to an open listing. It is often used by people who want to sell their home and hire an agent to show the home. The listing contract identifies a potential buyer and guarantees the agent a commission if that buyer buys the home. As with open offers, this type of marketing effort is inefficient.
Exclusive listings from
Agency When you sell your home, you’ll find that different types of listing contracts involve many different people. This involves a broker. Essentially, an exclusive agent listing will give you the right to sell your own home with no realtor commission, unless the home is sold through a licensed real estate professional. If the home is sold without the help of agents, the contract allows the owner to pay no commission. The reason this type of listing contract is so widely used is the temptation of not paying your broker.
Sole Proprietorship
Listings The most common type of listing with sellers and brokers, this contract gives your agent full discretion to do whatever it takes to sell your home. For obvious reasons, this is probably the type of contract you can expect the most from an agency – a good marketing effort can be here, and the work of those owner is significantly reduced.
Before choosing a contract, always make sure you know all the types of subscription contracts available to you. Keep in mind how much effort you want to put into selling your home – this is often what sets home types apart. Discuss the possibilities and disadvantages of each. Remember that a listing agreement is your first legal step when selling a home – do this with caution.
