This form grants to a realtor or broker the sole and exclusive right to list and show the property described in the agreement on one occasion. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Listing Agreement Form With Multiple Agents In Minnesota
Category:
State:
Multi-State
Control #:
US-00056DR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
A multiple listing authorization gives a broker what authority? To list the owner's property in a multiple listing service. To sell several properties for the owner at once. To represent both seller and buyer, if necessary, in selling the property.
The illegal or unethical practice of providing two different contracts for the same transaction.
Can you accept parallel offers and negotiate two contracts? As a seller, you can accept parallel offers and work through them until the contract signing stage, when you have to choose the most favorable one. Although it's not ethical to lead on two buyers, the idea of having more than one offer gives you some leverage.
It is not a crime to work two jobs at the same time, although it may constitute a breach of the contractual terms under which you have agreed to work for your existing employer, especially when working for a competitor.
Finally, there are situations in which a seller truly signs two contracts, attempting to hedge his or her bets and ensure that a deal is made. This is not generally appropriate and can wind up in litigation. In many cases, nothing bad will happen. One buyer backs out, and the second buys.
Working with more than one real estate agent is fine when you haven't signed an exclusive agreement with anyone, says Adam Aguilar, a real estate agent with Reliantra in West Toluca Lake, CA. “You can use as many as you wish, unless they stop to ask you to make a commitment to them, in writing,” Aguilar adds.
If you choose to work with multiple agents, you must inform each agent of your intention. Not only will this provide transparency for all parties involved, but it will allow any agents who require exclusivity to politely decline your business.
Most agents expect you to query multiple agents at a time, so it's usually not a problem. A few agents do request exclusive submissions, though, so look out for that. Most agencies don't want you to query multiple agents at the same agency at the same time. Read each agent's submission instructions carefully.
Multiple Listing Service (MLS): What Is It An MLS is a powerful tool to further cooperative agreements between brokers for the sale of their listings and provide information necessary to permit such cooperation.
No. It is generally not recommended to use multiple real estate agents at the same time as it can be confusing and lead to conflict. You should choose one real estate agent and work with them throughout the process.
