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  Types of Listings.

Types of Listings

There are several different types of listing contracts, but very few of
them are used. The "Exclusive Right to Sell" is the most common, but
there is the "open listing," the "exclusive agency listing," and the
"one-time show."

Open Listing

The "open listing" is mostly used by people trying to sell their home by
owner who are also willing to work with real estate agents. Basically, it
gives a real estate agent the right to bring buyers around to view your
home. If their client buys your home, the agent earns a commission.
There is nothing exclusive about an open listing and a home seller can
give out such listings to every agent who comes around.

For that reason, no agent who accepts an open listing is going to
market your home or put it in the Multiple Listing Service. If your home
fits the criteria for one of their clients, and it is convenient, they may be
willing to show it to their client.

That is all an "open listing" is good for.

One-Time Show

A "one-time show" is similar to an open listing in many respects, as it
is most often used by real estate agents who are showing a FSBO (for
sale by owner) to one of their clients. The home seller signs the
agreement, which identifies the potential buyer and guarantees the
agent a commission should that buyer purchase the home. This
prevents the buyer and seller from negotiating directly later and trying
to avoid paying the agentís commission.

As with an open listing, agents will not be spending money on
marketing your home and it will not be placed in the Multiple Listing
System.

copyright 2000 by Terry Light and RealEstate ABC, revised 2002

 

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