Your Real Estate Firm
A listing agreement is a contract in which you hire a real estate firm to find a ready, willing and able buyer for your home in exchange for a set fee.
With an exclusive right-to-sell agreement, you pay fee regardless of who produces the buyer. This fee covers many important services that the sales professional performs above and beyond finding a qualified buyer. In an exclusive-agency listing, if you find a buyer, he or she is not obligated to pay the fee. If the sales professional finds a buyer, then the fee is paid to the real estate company.
An open listing is one in which you sign with several real estate firms and give each authority to sell your home. It is typically less effective than exclusive listing because the sales professional lacks the incentive to make an all-out effort to sell your home.
Note: Your home could also be included in a multiple listing service (MLS) as part of an exclusive listing. MLS gives your home greater exposure in the marketplace.
Neil Gibbs can help explain and navigate the many choices you now face in selling your home. With suggestions from your sales professional, you can better decide which type of listing agreement is right for your needs.