The Components of The Listing Agreement

The listing agreement is a contract between a property owner and a real estate professional. The listing agreement outlines the limits that the real estate agent has when you sell your property.

All listing agreements will have the following components:

Writing-For real estate contracts to be enforceable they must be in writing.

Employment-The listing agreement is an agreement with the broker employing the agent or property owner.

Compensation-The listing agreement will show amount paid to broker which is usually a percentage of the sales.

Title-Some properties have more than one owner. In this case all owners have to agree to the listing agreement.

Term-Because the broker acts on the seller’s behalf the listing agreement should have a term. It usually is 180 days but not less than 60 days.

Fine Print-Always read the fine print. If you do not understand something your agent or broker can explain.