Real Estate Term of the Day: Exclusive Right-to-Sell Listing
EXCLUSIVE RIGHT-TO-SELL LISTING – employment contract giving the BROKER the right to collect a COMMISSION if the property is sold by anyone, including the owner, during the term of the agreement (Barron’s Dictionary of Real Estate Terms)
The Exclusive Right-to-Sell Listing agreement will layout the entire agreement between both broker and seller, including:
- The brokerage duties of the agent to the seller
- Seller’s obligations to the broker
- Defined time frame of the agreement
- Type of relationship (seller’s agency or transaction broker)
- Form & amount of compensation for the broker
- Agreement to place the home in the MLS & other internet sites
- Price & terms of the listing
- Inclusions & exclusions of the sale
- HOA assessments
- and much more…
See also: Colorado Real Estate Commission Exclusive Right-to-Sell Listing Contract
