A Listing Agreement is a formal contract between someone who owns a property (the seller) and a licensed real estate agent or broker. This agreement sets out the terms and conditions for how the agent will help the seller in selling their property.
This legally binding contract between a property seller and a real estate broker/agent. It authorizes the agent to market and list the property on the seller’s behalf. It also defines the terms, obligations, commission, and duration of the relationship.
Key contents of a listing agreement include property details, listing price, broker’s duties, seller responsibilities, commission terms, contract duration, MLS authorization, required disclosures, and cancellation terms.
There are two common types of listing agreements in the US real estate industry:
1. Exclusive Right to Sell Listing Agreement:
This gives the chosen real estate agent the exclusive right to represent and sell the property. Regardless of who finds the buyer (even if it's the seller), the agent is entitled to the agreed-upon commission.
2. Exclusive Agency Listing Agreement:
In this type of agreement, the agent has the exclusive right to represent the property, but the seller reserves the right to find a buyer independently. If the seller finds a buyer, the agent will receive a pre-defined commission.
Overall, the Listing Agreement is a crucial document that clarifies the roles, responsibilities, and financial arrangements between the seller and the real estate agent during the process of selling a property.
Related Articles
I want to download the listing agreement PDF for my buyer. How can I do that?
There are two ways to download a PDF copy of your Houzeo listing agreement to share with your buyer: Method 1: Through the Listing Agreement Task Log in to your Houzeo Dashboard. Locate the section labeled "Complete Tasks". Within this section, find ...
I uploaded a wrong/incorrect document on Houzeo Dashboard. How do I upload the correct document?
Uploaded the Wrong Document? Here's How to Fix It: 1. Check with Your Agent (Recommended): Contact your listing agent and inform them you uploaded an incorrect document. They can likely reject the task on their Houzeo dashboard, allowing you to ...
How can I save the information I’ve already filled in and complete the remaining document later?
Any information that you fill in on the Houzeo Dashboard during the listing process gets auto-saved and you can resume from where you left it. When it comes to saving the information in the documents, here's what you can do to ensure that your ...
Can I view documents before I sign up on your platform?
At Houzeo, we prioritize transparency and clarity, especially regarding the documents you need to sign before listing your property on the MLS. However, due to the customized nature of our contracts and the process we follow, we cannot provide a full ...
Which forms are required to list the property on the Houzeo platform?
To list your property with Houzeo, you'll need to complete five essential documents: 1. Input Form: This form gathers basic information about your property, such as its address, features, appliances, and other pertinent details. 2. Listing Agreement: ...