What are the different types of listing contracts?
Once you choose your seller’s agent, you will want to list your home. There are several different kinds of listing agreements: • Open Listing. The real estate agent must find a buyer on your terms to earn a commission. If you find a buyer, or another agent finds a buyer, you do not owe a commission to your agent. • Exclusive-Agency Listing. Your agent has an exclusive right to represent you. However, you can still find your own buyer and avoid paying a commission. • Exclusive-Right-to-Sell Listing. You give your agent the exclusive right to sell your home. You owe your agent a commission no matter who finds the buyer, as long as it is within the listing period. What is included in a listing agreement? Your listing agreement with your real estate agent will cover specific information about your home. Here are the major items included in listing agreements: • the type of listing, whether open, exclusive-agency, or exclusive-right-to-sell • the broker’s authority and responsibilities • ev
