Selling you home?

The Listing Agreement - What You Should Know Before You Sign

Before you sign a Listing Agreement to sell your home, there are a few things you should know about the contract. 

Let me give you a quick overview of the 3 key areas to read and understand.


When signing a Listing Agreement contract to sell your home or property, there are a few key areas you need to understand before you sign.  

 

The Listing Period:

The first area is near the top of the contract, and it is the Listing Period which gives the date and time that the listing brokerage has the exclusive and irrevocable right to act on your  behalf.

This should be decided by you and the agent and it is negotiable. You need to know that this is a contract and you are bound to it for this time period.  If at any time you are not satisfied with how the selling process is progressing, or you and the agent are not seeing eye to eye, having a long listing period (more than a few months) may not be in your favour.  

 

Price:

Whatever you and your agent decide, please, ensure that they have presented you with good comps so that you can see what comparable properties have sold for.  

If someone comes to you telling you that they can sell your house for more than what the market has demonstrated in the recent past, please be sure that you can see the evidence of why that would be.  

Too often I hear from would be sellers that they have been told that their house is worth much more than it actually is.  A great agent will give you proof of why they are listing for a certain price range, and not sell you a pie in the sky number to get you excited.

 

Schedules:

 The Standard Listing Agreement does not include any Schedules.  But, a good agent will have a Schedule attached that outlines their commitment to you and the sale of the house.  It will also outline things that you may have agreed to.  

This is a contract and both parties will be held to these commitments.  It is a good business process.

 

If you have any questions about the Listing Agreement, please feel free to contact me and I can assist you.

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