In order to make a fair achievement between two parties, seller and the licensed property agent, then a listing contract should be made. It describes the authorization of real estate agent to sell your property on behalf of your name. There are some types of listing contract that can be used to make an agreement. But the most commonly use is the “Executive Right to Sell”.
- Open Listing
This kind of listing consists no particular bond between seller and real estate agents. Both you and property agent can sell the building. If you get a buyer from the property agent then you give the commission to them. But, you don’t need to give them anything if you get your own buyer.
- One-Time Show
One-Time Show listing is pretty much the same with the previous one above. The property agent will get commission if the buyer they bring purchase the house. Generally, people use this kind of listing to involve home agents in showing the property.
- Exclusive Agency
This agreement gives you the right to sell your house by yourself without paying the agent any commission unless they are the one who sell the house through a professional licensed real estate agency. People like to use this kind of listing because of the temptation to not paying your agent anything.
- Exclusive Right to Sell
If you choose this kind of listing, you give them the authority to do whatever it takes to sell the house. You can expect a lot from the agency because they will put a lot of marketing effort to sell you property. You can just sit back and relax; The property agent will have it done for you.
Always ensure yourself to know every listing contract types before you choose a contract. Take your time to reconsider the choice that you will make. You need to adjust the listing contract to your desired goals, therefore think about how much effort do you need to sell the house. When it comes to selling property, you’re not talking about selling memories; It’s about huge business to do and you need a wise decision to make it come true.