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You also have a responsibility to be honest and in advance with your seller and potential buyers about the functions and general condition of your home, so that the offer information is correct and potential buyers know what they are getting. The listing of a property usually causes some expenses for the listing broker and requires some time and effort for the seller. To make it interesting, they want to have some minimum list period to have a good chance of selling the property. However, the listing contract must have an expiry date. A typical reference period is often three to six months. If the property is not sold by then or as part of a sales contract, the seller may decide to reinvent or not list the property, possibly with a different list price, with the same broker or another agent or agent. The list of the property may start at a later date on the date the listing contract was signed, to give the seller time to prepare the property for demonstration or sale. If several offers are made, the seller can accept the offer that suits him best, even if the price is not the highest. The commission percentage is paid based on the accepted price. The seller may accept, often in agreement with the real estate agent, an offer that, for various reasons, is less than the highest offer, such as conditions or contingencies in the offered sales contract or perceived differences in the financial qualification of competing buyers. In addition, other conditions may be included in the agreement: a listing agreement is a document in which an owner enters into contracts with a real estate agent to find a buyer for the property of the owner. The owner executes the listing agreement to give a real estate agent the power to act as a broker when selling the owner`s property. However, the owner usually has to pay a commission to the real estate agent.

A listing agreement may also include documents relating to the listing of their securities on a stock exchange, for example. B of the New York Stock Exchange (NYSE). Sellers sometimes enter into co-listing agreements – that`s when more than one brokerage represents the sale of your home. Co-list the seller for a variety of reasons, z.B. if a couple separates. If you choose this option, make sure that the total commission you pay is indicated in the agreement, and it is clear that listing brokers share the list commission. With an exclusive-authorized offer, a broker is designated as the seller`s sole representative and has the exclusive right to represent the property. The broker receives a commission, regardless of who sells the property, while the listing agreement is in effect. Note: These definitions are provided to make it easier to categorize lists in MLS compilations. In any area of conflict or inconsistency, priority is given to the law or regulation of the state. If national law allows brokers to list real estate on an exclusive or open basis without establishing an agency relationship, listings should not be excluded from MLS compilations, as the listing broker is not the seller`s agent.