Categories Of Listing Contracts

As a potential home seller, you should be aware of the kinds of listing contracts that are available. Listing contracts refer to the agreement between you and a professional real estate broker. This agreement gives the real estate broker the mandate to represent you in the process of selling your home. There are four main categories of listing contracts;

• Exclusive right to sell listing: This contract gives your real estate broker a free rein. In other words, the real estate broker is permitted to do whatever it takes to sell your home. In this

case, the broker is not restricted in any way and can use a number of marketing strategies to accomplish the successful sale of your home.

 

• Exclusive agency listing: An exclusive agency listing limits the broker because the right to sell your home is given to you. In this case, the broker does not get any commission because you basically handle the sale of the house from start to finish. This listing is much preferred by home sellers because it affords them the opportunity to line their wallets with a little bit of extra cash.

 

• One time show: This involves the broker being enlisted to sell your home through home showings. As the term implies, the home is showed off to prospective home buyers only once. This kind of listing restricts the broker from trying out other marketing strategies that may prove more effective than a home show. You will also need to pay the broker a commission after the house is sold off.

 

• Open listing: This is very much similar to the one time show listing except that the house is shown off several times until it is bought. The decision about which is listing to select is yours and should be done with the size of your pockets in mind.