subject: Various Types Of Listings - Which One Would You Choose To Sell Your House Quickly? [print this page] Selling your home through a broker can reduce a lot of burden on your back. From attending to legal procedures to holding open shows and negotiating, a real estate agent can do it all. All they require is a cut of the total sale value of the house that is being sold. Since these agents are professional and licensed, you cannot expect them to work for a cheap price. However, with the efforts that they put into sell your home for you can be truly appreciated.
There are a number of listing agreements that you can choose from when you plan on hiring a broker to sell your home. For those who do not know what a listing agreement is, let me simply it for you. A listing agreement is the agreement involving you and your hired real estate agent broker allowing him or her to take your place in the complete procedure of selling your house. The scope of the listing contract varies according to the agreed level of authorization that you grant the broker to have. Though there are many listing contracts available, only a few of them generally are used. However, the most popular one that is being used is called as "Exclusive Right to Sell" agreement. Let us now see some of the popular listing contracts in brief.
Open listing: Immensely popular among the general household in America. This agreement is for those people who themselves want to actively participate in the overall process of house selling and also want a broker to work with them. This sort of contract allows the agent to hold open houses and house showing in your house, and he or she gets a commission if the prospective buyer agrees to purchase your house. The advantage of using this service is that you will not have to be present every time a buyer wants to see your house, since the agent will take care of it. The disadvantage is that there will be less advertising done on your agent's part.
Exclusive Agency listing: Another popular listing contract that people love. This contract also connects you to an agent. However, there are some limitations. In this case, you as well as your broker can bring buyers to your home and show them the house. The difference is; the broker only gets the commission if the house is bought by someone whom they have invited. The sole reason why this listing is popular is because there is a chance that your house will be bought by someone you brought in. In this situation, you will not be required to pay anything to the agent.
Exclusive Right to Sell: This, as already mentioned above, is probably the most famous type of listing in the country. This involves you and the broker for the time till the property is sold off and the dealings are closed. In this contract, you authorize the broker to do all it takes to for the sale of your house. The commission percentage is obviously higher than any other kind of listing. However, since this totally relieves you from all the responsibilities of selling your house, you can be rest assured about a good marketing strategy and total support from the broker.
