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| The Real Estate Encyclopedia |
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| What Is A Listing Agreement? |
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| Category - Home Selling FAQ's - Listing & Agreements
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| A Listing Agreement is a written employment agreement between a property owner and a real estate broker. The Listing Agreement authorizes the RE broker to find a buyer or a tenant for a certain property. The most common Listing Agreement is the Exclusive-Right-to-Sell agreement. Listing Agreements are considered to be personal service contracts and, therefore, cannot be assigned to another broker but may be delegated by the broker to his/her sales office to find a buyer for the property. The agreement usually states the asking price for the property, amount or percentage of commission the Seller agrees to pay the broker once the property is sold, the way the total agreed-to commission will be shared with a selling broker, as well as the responsibilities of Seller and broker. |
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The Language of Real Estate, Fifth Edition, John W. Reilly |
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