April 8, 2010
Home Selling | Listing Contracts – The First Legal Document In Selling Your Home
When you decide to involve a licensed broker in the selling of your home, a legal contract is drawn up between you and the broker. This legal document authorizes the agent or broker to stand for you in the home selling process. This is known as the listing contract.
Several different listing contracts are available to choose from, though “exclusive right to sell” is the most preferred. The different listing contracts differ in the level of endorsement that you give to the broker.
Some examples are:
Open Listing
This is a commonly used listing, wherein the client wants to maintain a certain degree of control over the selling process. It is good for people who want to be involved in selling their homes. This contract entitles the agent to conduct house showings and receive a specified percentage as commission if the client chooses to purchase your home. The advantage here is that you are not in kind of binding and are not the exclusive hold of the broker. The disadvantage being that you cannot expect a very high degree of involvement by the broker and also not much marketing.
One-Time Show
It is quite similar to the previous listing. It is normally used by people who want to sell their home on their own and involve an agent only for home showings. This listing contract helps in identifying potential buyers, and the agent is promised a commission if the house is sold to the buyer. Again, like the open listing, an element of advertising or marketing by the agent is missing.
Exclusive Agency Listing
When you decide to sell your home, you will realize that different listing contracts engage different people. This particular listing includes a broker. Basically this listing lets you sell your home, without having to pay the broker his commission except in the case of the house being sold via a licensed real estate agent. In the case of the house being sold without any contribution of the agent, you need not pay any commission at all. This is a popular type among sellers, as it requires them to pay only if a sale falls through.
Exclusive Right to Sell Listing
All agents and brokers love this listing for obvious reasons. They have the right to do whatever they may think is required to make the sale. This listing lets you relax while all the hard work is done by the agents. You can expect a blitzkrieg of marketing and a lot of advertising from their side.
Before you decide on a particular type of contract listing, get to know the options available to you. Determine how much you are prepared to be a part of the process. Your degree of involvement will help you decide the contract listing required. Also discuss the positives and negatives of each type before you decide. The listing contract is the first legal document that you draw for selling your home. Let the first step be taken after due deliberation.
Learn more about home selling advice as well as download our free home selling checklist when you visit http://www.stepsinsellinghome.com, the premier internet resources on tips for selling your home
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4 Comments on Home Selling | Listing Contracts – The First Legal Document In Selling Your Home »
April 21, 2011
rswpbc @ 5:54 am:
It is not your responsibility as a seller to bring your property up to code when selling "as is" , or not. The buyer is allowed to inspect the property prior to purchase and unless there is something in the contract about requirements for the improvement to be "up to code" the liability lies solely with the buyer.
May 12, 2011
Junie @ 6:32 am:
Hi Amy ~ I'm planning to do a future blog about how to tell the difference. Price points vary depending on who sells what ~ I've talked to people who have purchased a knockoff, prices varied anywhere from $40 to $80. All of my Designer Inspired purses are priced under $50, average price points are around $36-$42. Other vendors tend to have similar price points. It's important to know the difference in case you are invited to a purse party at someone's home. If they are selling knockoff's, you as a guest can be arrested too, not just the person selling them.
August 24, 2011
@ 2:16 am:
selling avon from home. Home selling, zillow reflects every door's process, brick and focus date. This need will change features in foreclosure to the bricks, own as whether or not any show-houses have been considered at the brokers, or whether or yet there are any real property panels, home selling. Best regards
, Keira from Mexico.]]>
September 24, 2011
Mark A @ 12:12 am:
Rather than being an embarrassment, I for one love all the news that goes on.
This is not only associated with Melbourne clubs, it's a global thing to make life interesting. In fact I thought that footy never looked better, especially with Geelong supporters swamping their city for days on end.
Footy is a profession, so it's naturally going to have the politics of "who doesn't like who"attached to it.
Anything competitive is always going to have grievances and rumblings.
We only need to look at the cover of the Melbourne Sun/Herald today (Buckley) to see just how popular football is in Victoria.
Prior to AFL, this was called the VFL, but because footy was so successfull with being able to pull in the big crowds in Melbourne, the other states wanted to be included.
Granted fixtures etc, have become more organized, for want of a better term, however this is what happens when footy and other sports become a profession, rather than a player having a job to fall back on, in case footy doesn't work out.
The coaches also fall into this category, with all clubs wanting the best coach and specialist staff.
Board members can ruin a club if they lose focus and forget the reason that they are in the position for. This is how unrest occurs, which is not always a bad thing.So it's' better that there is "fighting and arguing", or some of the clubs would be left to suffer an unhappy team and supporters