Definition of "Listing agreement"
Listing Agreement A.K.A. Listing is basically a contract allowing a real estate agent or broker to list a home for sale and act as the home seller agent representing his/her interests throughout the home selling process. Listing Agreements stipulates the commission rate the real estate agent or broker gets when the house is sold and the length of time he/she will represent the home seller and his property.
There are several kinds of Listing Agreements. There are exclusive listing agreements - like the Exclusive Right to Sell Listing and the Exclusive Agency Listing - and also non-exclusive listing agreements like the Open Listing. Unfolding from those, there are other specific Listings like the Option Listing, the Net Listing, and the Dual Listing.
Real estate tip:
Expiration dates for Listing Agreements can vary from 90 days, to 180 days or even a year! There are no rules. It is up to you and your agent or broker to decide what feels right for your property.
Want to know the basics of Listing Agreements? Check our Listing 101: What you need to know when you hire a real estate agent or a broker article!
Missing the expertise of a professional to better understand Listing Agreements? Use our Real Estate Agent Directory to find the perfect agent or broker for you!
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