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| Listing Contracts |
Seller's Resources... |
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Once you have selected an agent to work with, that agent will use market research along with his or her knowledge and expertise to assist you in setting the best possible listing price for your home. However, you must keep in mind that the price you set must be attractive to potential purchasers under the current market conditions.
Before finalizing the listing price, you may wish to ask your selected agent to prepare an estimate of the net cash proceeds you will receive on completion of the sale, based on the suggested listing price and the financing arrangements currently in place. After a listing price has been established, you will be asked to sign a "Listing Agreement" Types of Listing AgreementsIn British Columbia, the two most common types of listing agreements are:
An Exclusive Listing gives the listing agent the sole right to sell the property. This means that even if you sell the property to a prospect of your own during the term of a listing, you must pay the agreed commission to the listing agent, unless that prospect was specifically excluded on the listing agreement. The listing agent may agree, at his or her option, to share the commission with any other real estate licensee who is able to find a buyer for your property. The other licensee will be referred to as the selling agent. You should also be aware that even after the exclusive listing expires, you may be obligated to pay the listing agent a commission if you sell your property to a person who purchases because of the agent's actions during the time of the listing. A Multiple Listing differs from an Exclusive Listing only in that the listing agent agrees to register your home in a Multiple Listing Service (MLS) so that its availability is made known to real estate licensees who are members of the local real estate board. In this case, the listing agent agrees to share a specified amount of the commission with any other member of the real estate board who is able to find a buyer for your property. Discuss your objectives with your agent before deciding which type of Listing Agreement will best suite your needs. |
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Jeff Stacer PO Box 384 1111 Lakeshore Drive SW, Salmon Arm, BC, Canada V1E 4N5 E-mail: info@shuswaphomes.com |
RE/MAX Shuswap Phone: 250-832-7051 Fax: 250-832-2777 Toll Free: 888-356-9955 www.shuswaphomes.com | |
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