What are the different types of Listing Agreements?
Exclusive Right to Sell
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is sold through the efforts of the Listing Broker, the Seller or anyone else.
Exclusive Right to Sell with Named Exclusion
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is sold through the efforts of the Listing Broker, the Seller or anyone else, except that the Seller may name one or more individuals or entities as exemptions in the Listing Agreement and, if the Listed Property is sold to any exempted individual or entity, the Seller is not obligated to pay a commission to the Listing Broker.
Exclusive Agency
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a commission to the Listing Broker, if the Listed Property is sold or is rented or leased through the efforts of any real estate broker. Under an Exclusive Agency Listing, if the Listed Property is sold or is rented or leased solely through the efforts of the Seller, the Seller is not obligated to pay a commission to the Listing Broker or any other broker.
Exclusive Right to Sell with Variable Rate of Commission
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a specified commission if the Listed Property is sold by the Listing Broker either with or without the assistance of a Cooperating Broker and a different commission if the sale results through the efforts of the Seller.
Exclusive Right to Sell with Dual Rate of Commission
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a specified commission if the Listed Property is sold by the Listing Broker without assistance and a different commission if the sale results through the efforts of a Cooperating Broker.
Facilitation/Exclusive Right to Sell
Listing Agreement under which the Listing Broker does not represent either the Seller or the Buyer or become the agent of either of them and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is sold through the efforts of the Listing Broker, the Seller or anyone else.
Facilitation/Exclusive Right to Sell with Named Exclusion
Listing Agreement under which the Listing Broker does not represent either the Seller or the Buyer or become the agent of either of them and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is sold through the efforts of the Listing Broker, the Seller or anyone else, except that the Seller may name one or more individuals or entities as exemptions in the Listing Agreement and, if the Listed Property is sold to any exempted individual or entity, the Seller is not obligated to pay a commission to the Listing Broker.
Facilitation/Exclusive
Listing Agreement under which the Listing Broker does not represent either the Seller or the Buyer or become the agent of either of them and the Seller agrees to pay a commission to the Listing Broker, if the Listed Property is sold through the efforts of any real estate broker. Under a Facilitation/Exclusive Listing, if the Listed Property is sold solely through the efforts of the Seller, the Seller is not obligated to pay a commission to the Listing Broker or any other broker.
Facilitation/Exclusive Right to Sell with Variable Rate of Commission
Listing Agreement under which the Listing Broker does not represent either the Seller or the Buyer or become the agent of either of them and the Seller agrees to pay a specified commission if the Listed Property is sold by the Listing Broker either with or without the assistance of a Cooperating Broker and a different commission if the sale results through the efforts of the Seller.
Facilitation/Exclusive Right to Sell with Dual Rate of Commission
Listing Agreement under which the Listing Broker does not represent either the Seller or the Buyer or become the agent of either of them and the Seller agrees to pay a specified commission if the Listed Property is sold by the Listing Broker without assistance and a different commission if the sale results through the efforts of a Cooperating Broker.
Exclusive Right to Sell at Auction
Listing Agreement under which the Property is offered for sale as an Auction Listing, the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is sold through the efforts of the Listing Broker, the Seller or anyone else.
Exclusive Right to Rent
Listing Agreement under which the Listing Broker becomes the sole agent of the Seller and the Seller agrees to pay a commission to the Listing Broker regardless of whether the Listed Property is rented or leased through the efforts of the Listing Broker, the Seller or anyone else.
Open Listing
A non-exclusive listing agreement, which means the owner can contract with more than one (1) real estate broker and pay a commission only the broker who brings an able buyer whose offer the owner accepts. Homeowners, who are trying to sell their home “By Owner” but are also willing to work with real estate agents, utilize this type of listing agreement.
Please note: |
Open listings are not popular with most traditional, full service brokers. Basically, it gives a real estate agent the right to bring buyers around to view your home. If their client buys your home, the agent earns a commission. Agents, who accept an open listing, do not list your home in the MLS or market your home. If your home fits the criteria for one of their clients, and it is convenient, they may be willing to show it to their client. That is all an "open listing" is good for.
|