If you're thinking about selling your home, you'll likely enter into a listing agreement with a real estate agent. But what exactly is a listing agreement? In this blog post, we'll give you a crash course on real estate listing agreements so that you are prepared when it comes time to sign one.
A real estate listing agreement is a contract between a homeowner and a real estate agent that gives the agent the right to market and sell the home. Signing a listing agreement means you commit to working with that agent for the listing term. Typically, the agreement will specify three big things:
- ⏱ Listing term - how long the real estate agent will have the right to represent the listing
- 💰 Compensation - how the real estate agent will get paid if they're successful in finding a buyer
- 📝 Performance criteria - the do’s and don’ts for both the home seller and the real estate agent that apply to the listing for the listing term
It's important to note that not all real estate listing agreements are created equal. For example, some agreements may give the agent exclusive rights to sell your home, while others may not. Be sure to read over your agreement carefully before signing it so that you understand all of the terms and conditions.
Now that you know a bit more about real estate listing agreements, you're one step closer to selling your home. Just remember to take your time in choosing an experienced and reputable real estate agent, and to read over your agreement carefully before signing it.
Looking to learn more about selling your home? Connect with one of our Listing Specialists who can answer your questions and help you take the next step!
