A listing agreement is a contract between a property owner and a real estate brokerage that authorizes the broker to represent the seller and act as their agent in the sale of the property.
Types of Listing Agreements Exclusive Right to Sell Listing. As the most commonly used listing agreement, the Exclusive Right to Sell Listing's name pretty much says it all. Open Listing. An Open Listing Agreement is the exact opposite of an Exclusive Right to Sell Listing Agreement. Exclusive Agency Listing.
The most predominant listing agreement in California is the Exclusive Right to Sell Agreement. This agreement entitles the listing agent to a commission regardless of who finds the buyer, granting them exclusive marketing rights for the home. Other types of agreements exist but are less common.
An exclusive right-to-sell listing is the most commonly used contract. With this type of listing agreement, one broker is appointed the sole seller's agent and has exclusive authorization to represent the property.
Exclusive right to sell listing agreement An exclusive right to sell listing is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
A listing agreement authorizes the broker to represent the seller and their property to third parties. The listing agreement is an employment contract rather than a real estate contract: The broker is hired to represent the seller, but no property is transferred between the two.
Though notarization is not required, it may still be a good idea to have a notary present in order to verify the identities of all signers.