What is a Listing Agreement?

1.The listing price

2.The agreement’s expiration date

3.The commission rate and how it’s divided with the buyer’s agent

4.The type of listing agreement

5.Your personal property that is or isn’t included with the transaction

These details are easy to verify, but they aren’t the only things you should look for in your listing agreement. Try to read it as many times as you need to completely understand what’s in it.

Listing agreement FAQs

When do you sign the listing agreement?

You’ll sign the listing agreement after you and the agent have agreed on all the details of your real estate transaction. By signing, you’re stating that you’re ready for the agent to move forward with the steps needed to sell your home. Do I have to sign the listing agreement?

Yes. The listing agreement is a legally binding document that outlines your preferences along with the agent’s duties. If you choose to sell your home yourself, you won’t need to sign a listing agreement since you’ll represent yourself.

Can I negotiate a listing agreement?

You can negotiate several parts of a listing agreement. These include:

•Agent commission

•Agent duties

•List price

•Agreement duration

•Listing type

Most minor changes can be made right on the contract, but bigger changes might need to be added to an addendum at the end of the agreement.

How long does a listing agreement last?

In general, a listing agreement can last for any amount of time you and your agent agree on. Most listing agreements last three to six months.

Shorter time frames allow you to hire a new agent if you aren’t happy with your current agent. But if the duration is too short, an agent may not want to risk walking away without a commission. If the agreement expires and you’re satisfied with your agent’s work, it’s easy to renew the contract.

How much does a listing agreement cost?

It usually doesn’t cost anything to sign the listing agreement itself. You probably won’t pay anything upfront, but the contract will specify the broker or agent’s commission fee. This fee is paid at closing once the title company confirms a clear title and the property is formally signed over to the buyer.

What if my home doesn’t sell?

If your home doesn’t sell within the time frame outlined in the listing agreement, you have two options:

1.Renew the agreement and keep your current agent

2.Hire a different agent

If you choose to find a new agent, review the termination section of the agreement to make sure you won’t owe any fees for the expenses incurred during the listing period.

Can I make changes to the listing agreement after I sign it?

Yes, but only if all parties agree. Most modifications to a listing agreement are done in writing, either directly on the agreement itself or through a listing agreement addendum (more information added to the end of the document).

I have questions about my specific listing agreement. Who should I talk to?

A licensed, local attorney is the most qualified person to answer your questions. They’ll be able to address your concerns and point out any potential issues in the contract.

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Coldwell Banker Brown Realtors

Coldwell Banker Brown Realtors

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