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March 18, 2013

Buying or Selling a Home

Real Estate Brokers

What is the listing agreement?

Once signed, the listing agreement is a binding contract between the seller and the listing real estate firm. Its provisions include length of the listing period, commission rate and payment date, responsibilities of the firm and its agents, and who is responsible for the cost of advertising and the other costs associated with the home sale.

Read the listing agreement carefully. Do not hesitate to discuss any provisions you would like to change. To further protect your interests, don’t sign an agreement until your attorney has reviewed and approved it, especially if you have requested changes that have been resisted.

One final suggestion could save you lot of money. Before signing a listing agreement, let your friends and neighbors know you're selling. If any of them express an interest in buying, exclude them from the listing agreement. Then, if one of them ultimately buys the property, you will not be required to pay any commission at all.

>>What is the real estate agent's role in a home sale?
>>What is the role of the seller's agents?
>>What is the listing agreement?
>>What fee will I pay on the sale of my home?
>>What other terms in the listing agreement are negotiable?
>>What legal protection do I have after signing a listing agreement?
>>Is the real estate agent liable if a potential buyer steals something from my home?
>>What can I do if my real estate firm doesn't seem to be working very hard to sell my home?
>>What is the fee relationship with a buyer's agent?

Practical Law Home | Buying or Selling a Home | Basics of Buying a Home
Basics of Selling a Home | Why Real Estate Is Covered By Special Laws | *Real Estate Brokers*
The Purchase Contract | Financing a Home Purchase | The Closing | The Fair Housing Act
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