A listing agreement is a written agreement between the owner of a property and the real estate broker they select to sell it. A listing agreement typically gives the broker the exclusive right to sell the property for the duration of the agreement. If the broker is a member of the National Association of Realtors, the listing agreement must include the following items:
- a beginning and end date of the agreement
- the price at which the property will be offered for sale
- the amount of compensation to be paid to the broker, which is generally a percentage of the sale price
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Authorization for the broker to cooperate with other agents as sub-agents of the seller and with buyer’s agents on any exceptions to the agreement, such as a list of any buyers. The seller may have negotiated prior to listing.
The agreement will also typically state activities the broker will conduct on the seller’s behalf to market the property. Once a broker produces a willing and able buyer, assuming all conditions of the listing agreement are met, the seller owes the broker the compensation described in the agreement.
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.