Listing Agreements

Listing Agreements

If you are ready to think about listing your home for sale, you will be presented with different options for the type of listing agreements. It is important to know the specifics of each one so you can select the agreement that is best for your situation. Below are some options for you to consider when selling your home. Consult with your real estate professional with any questions you may have and what agreement is best for your situation.

 

Open Listing
This type of listing is mostly used by people trying to sell their home by owner who are also willing to work with real estate agents. Basically, it gives a real estate agent the right to bring buyers around to view your home and if they locate a seller, the agent earns a commission. There is nothing exclusive about an open listing and a home seller can give out such listings to as many agents as they would like. The open listing creates competition between the seller and agent(s) to find an willing buyer.


Exclusive Agency Listing
An exclusive agency listing contracts one agent to sell the home. The owner still reserves the right to sell the property herself and not pay a commission. The broker is free to cooperate with another brokerage, meaning the second brokerage could bring an able buyer whose offer the owner accepts. Typically, the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees.


Exclusive Right-to-Sell Listing
An exclusive right-to-sell listing is the most common, typically most
real estate listings are this type. The listing agent has complete control of the transaction and so even if the seller, the listing agent or a cooperating selling agent finds an acceptable buyer, the listing agent will still earn the sales commission. However, when the listing expires the seller does have the option of finding another agent if they are not satisfied with their performance,

Multiple Listing
An important marketing tool for listing agents is the multiple listing service (MLS). This allows all the listing information as well as photos of the property to be shared on the computer others who are working with potential buyers. In addition,
these listings are also available online to potential home buyers who are doing their own research. A MLS number is assigned to each listing, it is a unique number given to Homes for sale in york pa listed in the Multiple Listing Service (MLS) used by Real Estate professionals.

It is important to understand that a real estate listing contract is a legally binding agreement that sets out the rights and duties of the seller and the agent. It is important to consider your options when making your decision. Keep in mind that all listing contracts have expiration dates and you can change your listing choice when the contract expires.

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The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887