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What Is A Listing Agreement?

When you decide to sell your home or other real estate property, you will probably choose a Realtor® to list it in the area real estate sales roster.

The REALTOR® will provide you with an agreement to sign that provides an exclusive on the property for a certain period of time. It will also include the setting of a fee that you will pay the REALTOR® when the property is sold.

This agreement is a legal and binding contract so you should read it carefully and familiarize yourself with all terms and conditions stated. Keep a copy of this agreement with your other important records.

The REALTOR® and the seller are both bound to the terms of this contract and the REALTOR® is required to keep certain client information confidential.

An exclusive listing agreement provides great motivation on the part of the REALTOR® to promote your property in the marketplace and devote more time and energy to the sale. It guarantees the REALTOR® will be paid regardless of how your property is sold. This protects the REALTOR®'s use of their valuable resources if you decide to sell to a friend or relative.

This contract does offer clear advantages to the seller. It specifies the required fees and states the exact length of time the REALTOR® has to sell your home. When the contract has matured you have the option of voiding it or if you are happy with the REALTOR®'s efforts, extending it.

Sometimes a REALTOR® from another agency will bring the buyer for your home. When this happens, your REALTOR®'s broker is the listing broker and the buyer's broker is the selling or "cooperating" broker. Usually, your listing broker will split his fee to compensate the other broker and REALTOR®. These situations will be outlined in your listing agreement. Brokers cooperate to find buyers for your home.

We will be happy to meet with you and go over the listing agreement and answer any questions you may have. We can provide our marketing plans for your home and explain the entire sale process.

Esta and John Ingle