Moving And Storage Companies – Types Of Listing Contracts

Moving And Storage Companies – Kinds Of Listing Contracts

A listing contract is an agreement between you and a licensed real estate broker that authorizes the broker to represent you in the process of selling your home. There are several different types of listing contracts, but very few of them are utilized. The most common one used is the “Exclusive Right to Sell”. But will find that there are a great deal more kinds, allowing you to choose the level of authorization to give to your agent. Here are a few of them:

Open Listing
Regarded as the one most generally used, this kind of contract is for individuals who want to both sell their home and work with real estate agents. What the contract does is giving the right for agents to do showings of your home, and provides them an amount of commission if the client chose to buy your house. The positive thing about open listing is that there are nothing exclusive or painfully bonding about them. The bad thing is that you can expect less marketing or advertising done.

One-Time Show
This kind of listing contract is pretty much the same to open listing. It’s generally used by people attempting to sell their own home and involving an agent for the home showings. The listing contract identifies the potential buyer and guarantees the agent a commission if that buyer purchases the home. Just like open listings, this kind lacks of marketing efforts.

Exclusive Agency Listing
During your home selling, you will find that various types of listing contracts involve a lot of different people. This one involves a broker. Basically an exclusive agency listing will provide you with the right to sell your own home, without paying the broker any commission unless the house is sold through a licensed real estate professional. If the house be sold without any aid of agents, the contract allows homeowners to pay no commission at all. The reason why this kind of listing contract is popular is the temptation of not having to pay your broker.

Exclusive Right to Sell Listing
The most popular kind of listing with sellers and brokers, this contract gives the full right for your broker to do whatever it takes to sell your house. For obvious reasons, this is most likely the type of contract where you can expect the most incentive from the agent – a good marketing effort can happen here, and the homeowners’ work is much reduced.

Before you select your contract, always make certain you know every type of listing contracts available to you. Take in mind how much effort you would like to add to the home selling – this is often what distinguishes the types. Talk about the possibilities and drawbacks of each type. Remember, a listing contract is your first legal step in selling your house – take that step carefully.

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