Friday, March 2, 2007

Realty Speaking! Different Types of Listings



There are different types of listing contracts, but very few of them are used. The "open listing" is mostly used by people trying to sell their home by owner who are also willing to work with real estate agents. If their client buys your home, the agent earns a commission. There is nothing exclusive about an open listing. For that reason, no agent is going to market your home or put it in the MLS.

"An exclusive agency listing" allows an agent to list and market your home, guaranteeing them a commission if the house sells through any real estate agent or company. It also allows sellers to seek out buyers on their own. There is not much incentive for agents to spend money marketing and a good agent would never accept such a listing.

A " One Time Show" is similar to an open listing in many respects, as it is most often used by real estate agents who are showing a FSBO ( for sale by owner) to one of their cients. As with an open listing, agents will not be spending money on marketing your home and it will not be placed in the Multiple Listing System.

Giving a real estate agent the "exclusive right to sell" your property does not mean that there will not be other agents involved. An "exclusive right to sell" is the only type of listing an effective agent will accept. This is because they have a reasonable expectation of earning back any money they spend on promoting and marketing your property.

No comments: