Sign The Listing
A real estate listing agreement – also known as a seller’s agent agreement – is a contract between a property owner and a real estate broker. It allows the broker to sell the home on the seller’s terms, locating an appropriate buyer. The property owner pays the brokerage a commission for acting as the listing agent.
In the listing agreement you specify the way you will be listing your property. The agreement includes the terms of the deal, such as asking price, description of the property, commissions, restrictions, exclusions, showing instructions, mediation clause and expiration date. It also commits the seller to use the agent listed in the contract and no one else to sell the home. The agreement also talks about the responsibilities of each party, the seller and the listing agent.
Including the percentage of the sales price in the agreement is essential, so the seller knows the cost when negotiating any offers to buy the home.
Your real estate agent will provide to you other disclosures and important information about the home-selling process. You will also be required to provide other documents such as HOA documents, deed restrictions, PID or MUD, Seller’s Disclosure Notice, any current leases, survey and T-47 affidavit, and Lead Based Paint Addendum if applicable.
Selling a house with a real estate agent is often the best way to maximize your profits. Before you work with a listing agent, make sure you read the listing agreement and understand the terms of the sale. Take the time to negotiate details that aren’t in line with what you wanted and enjoy having a professional sell your home.
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