If you want to sell your home with a real estate agent, you absolutely must sign a list contract, according to Lenchek. If you list your home as “For-Sale-by-Owner” (FSBO), you don`t have to work with a real estate agent and therefore you don`t need to sign a list contract. This is the most popular type of list between sellers and brokers. As part of an exclusive right to sell a listing contract, the broker is the “only” authorized to sell your home. If another agent finds a buyer, your broker earns a commission. If you find a buyer on your own, your broker always earns a commission. This provision gives your broker the greatest incentive to spend time, money and energy marketing on your home, especially to other agents in the area who can show your home to their buying clients. Only with an exclusive right on the sales agreement, you can expect to get a “full service marketing” from your broker, as it is the only would-be typical list that ensures that a broker will be paid for his marketing fees and efforts when the house is sold. The protection period provided in a list contract is specifically intended to protect the real estate agent. For a number of days after the expiry of the contract, if one of the potential buyers that the seller`s agent actually brought into the house, then you will still be indebted to them for the commission. The seller explains that brokers reserve the right to charge buyers` agents up to 1000 $US paid by the buyer`s commission as a platform fee.
This fee covers expenses related to listing agents related to items such as electronic signature, document storage and non-compulsory disclosures. This fee, if it exists, must be listed in the Multiple Listing Service. The thing is that Florida real estate professionals don`t like to compete with each other in this type of situation, so the seller can hardly collect a large number of signed open list contracts and the property can`t be as promoted by real estate professionals as it would be among other agreements. According to Lenchek, it all depends on the situation. While some homeowners sign the list contract at the first meeting, others may wait weeks or months before they are ready to sell their home. Anyway, a list contract will be signed as soon as you are ready for your realtor to start marketing your home. The list agreement, especially the exclusive list agreement, includes everything included in your sale (devices, chandeliers, etc.) until real estate agents are compensated. If the seller orders brokers not to market the property on the MLS, the seller recognizes that the MLS for calculating market days (“DOM”) in the future for MLS entry can count on every marketing day, not just on the days on the MLS. MLS boards of directors can define marketing to include: (a) having a sign on The Building; (b) any communication that will be communicated to the general public; (c) all messages on the internet or social media, including on Zillow or Trulia; (4) Flyers or advertisements. If the property is excluded from the MLS, the seller recognizes: (a) real estate agents and brokers of other real estate agencies with access to this MLS and their clients, may not be aware that the property is for sale; (b) information about real estate is not transmitted to various real estate websites used by the public to search for real estate offers; and (c) real estate agents, brokers and members of the public cannot be aware of the conditions under which the seller markets the property. Reducing the exposure of the property can reduce the number of offers and have a negative effect on the selling price. In an exclusive right to the sales list, the real estate agent receives a commission if the house is sold, no matter who finds the buyer.
If you find the buyer, the real estate agent always receives the commission described in the listing agreement.