Vital Characteristics of Your Listing Agreement

When you are working on a listing agreement with a real estate agent, there are many different things that you will need to take into consideration. You need to make sure that all of the variables of the listing agreement are included. At the beginning of the listing agreement, there is going to be some basic information that needs to be included. For example, you are going to have to provide your name and your address to the real estate agent for this section. The real estate agent is also going to include their name on this part of the agreement. Here is more information that should be included in your agreement.

Type of Listing

You are also going to need to specify what type of listing contract you are signing. There are several different types of real estate listings and all of them have different factors involved. One type of listing that you could choose is called the open listing. If you are agreeing to an open listing with a real estate agent, you are going to allow them to show the property but you are not bound to work with a particular agent. This is like telling a real estate brokerage that they can act as a buyers agent and bring potential buyers to you but you do not have a listing agent.

Another type of listing that you could use is known as an exclusive right to sell listing. With this type of listing, you are working with a listing agent to handle the sale of your property. This means that you are not free to negotiate with other agents or buyers directly. Every part of the sales process is going to go through your listing agent.

You might also choose to set up an exclusive agency listing. With this type of listing, the broker is going to represent you, but you are still free to try to find your own buyers.

Personal Property

You are also going to need to make sure that the listing agreement covers aspects of your personal property. You want to make sure that you specify what property is going to go with the house and what property is going to go with you. If there are any fixtures that you have attached to the house that you want to be sure to take with you when you move, you will want to make sure to specify this in the contract. For example, if you have some built-in bookshelves that you want to detach from the wall and take with you, you will need to make sure that it says this in the contract.

Price

In the listing agreement, you also need to make sure that it specifies the price that you are going to try to sell the house for. You need to talk with your real estate agent and have them do a comparative market analysis so that you can have a good idea of what you should list your house for. Be sure to check the payment for the agent and that it is something you agreed to.

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