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Print NON-EXCLUSIVE SELLER LISTING AGREEMENT (ALSO REFERRED TO AS OPEN SELLER LISTING AGREEMENT) 2008 Printing State law prohibits Broker from representing Seller as a client without first entering.

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ANSWER: No. The type of listing the real estate agent suggested is called a net listing. It is illegal in some states and very dangerous in every state.

Net Listing Agreements are Only Legal in Some States For example, net listing agreements have been banned in New York, New Jersey, Virginia, Georgia and many other states. That being said, they do remain legal in other states, including in California and in Texas.

A listing agreement in which the seller sets a net amount acceptable for a property; if the actual selling price exceeds that amount, the broker is entitled to keep the excesses commission; illegal in New York.

A net listing is technically not a type of listing agreement at all. In a net listing, an owner sets a minimum amount that he or she wants to receive from the sale of the property and lets the broker have as commission any amount above the set minimum.

Depending on its wording, a listing form may be considered to be a bilateral contract, with the broker agreeing to use best efforts to locate a ready, willing and able purchaser for the property, and the seller promises to pay the broker a commission if the broker produces such a buyer or if the property is sold.

How does a net listing create a conflict of interest for a broker? It violates the broker's fiduciary responsibility of putting the client's interests above his or her own. fulfillment of the contract.

Net Listing Agreements are Only Legal in Some States For example, net listing agreements have been banned in New York, New Jersey, Virginia, Georgia and many other states. That being said, they do remain legal in other states, including in California and in Texas.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232