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LISTINGS
PRESENTATION
CHAPTER 6
CHAPTER 6
I’M A
GENIE THAT WILL HELP =
YOU SELL YOUR =
HOME. I’M
THE LISTING AGENT
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=
2
<=
span
style=3D'font-family:"Century Schoolbook";font-size:117%'>Of all the docum=
ents
used in the real estate business, none is more important than=
the
listing agreement.
A listing agreement, when executed (signed) by =
the parties, bec=
omes a
legally binding contract that authorizes a broker to serve as an agent for a =
principal in a r=
eal
estate activity.
3
<=
span
style=3D'font-family:"Century Schoolbook";font-size:150%;color:#000099'>TYPES
OF LISTING AGREEMENTS
1. Open
Listing.
2. Net
Listing.
3. Excl=
usive–Agency–Listing.
4. Excl=
usive–Authorization–and–Right–To–Sell.
5. Excl=
usive
Authorization To Locate Property.
4
OPEN
LISTING
Owner agrees to pay a commission to t=
he
broker who procures a buyer.
An open listing is considered a unilateral contract.
Any number of Brokers may have a listing on the =
property. The ow=
ner
may sell the property himself or herself. The owner may sell the property =
<=
span
style=3D'font-family:"Century Schoolbook";font-size:117%'>himself or herse=
lf.
5
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Seldom is used in the sale of real
property. Mostly
used in Business Opportunity Sales.
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OPEN LISTING
6
NET
LISTING
Not a true listing. A
clause in the agreement that the seller is asking for a certain su=
m of
money. All costs includ=
ing
the broker’s commission is included in the sales price.
Net listings are seldom used.
Agents are vulnerable to charges of fraud, misrepresentation <=
/span><=
span
style=3D'font-family:"Century Schoolbook";font-size:117%'>and other abuses.
Agent must disclose in writing to both the seller and the buyer the selling price.=
7
=
Example:
Mr. Parker wants to net $150,000 from the sell of his home. The house has a loan of $50,000. So the home needs to sell for $200,000 with no =
<=
span
style=3D'font-family:"Century Schoolbook";font-size:117%'>commission. The broker wants a 6% commission.
=
Th=
e home
sell for $212,766 (the seller wants $200,000 less commission, which is 94% of the sales price). $200,000 ÷ 0.94 =3D $212,766. Therefore the broker’s commission is $12,766.
8
EXCLUSIVE-AGENCY LISTING
Maybe No Commission
Similar to exclusive–authorization–and–right to =
sell listing. One
difference, if seller sells the property, then there is no commission to the =
listing broker.<=
/span>
9
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<=
span
style=3D'font-family:"Century Schoolbook";font-size:150%;color:#000099'>FOR SALE =
=
BY OWNER
Cerritos
College
College
Realty
![](3D"slide0150_image012.jpg")
Call
Me
Me
10
Most Used Listing
The listing agreement is a written contract =
between the brok=
er and
the seller, an it must be filled out correctly and signed by the brokerd and =
=
seller(s).
11
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Cerritos
College
Realty
![](3D"slide0151_image016.jpg")
12
=
Gives the broker=
the
sole right to procure a buyer for the property. The broker has the right to a =
commission no ma=
tter
who sells the property, during the term of the listing.
The listing must have a termination date. The seller must rece=
ive a
copy of the listing.
13
=
Name of Client a=
nd
Real Estate Office or Broker. Enter beginning and termination date.
Location of the property. =
City,
county, street address or =
lot, block and t=
ract.
This is the listing most often used, because it =
guarantees the l=
isting
broker a commission.
14
=
Name of Seller
=
Real =
Estate
Broker.
Enter beginning
date
Ending
date.
Location of the
property. City, county, street address or lot, block and trac=
t.
15
=
16
=
<=
b>3. Listing Price and Terms
=
<=
b> Listing price – Written and numeric ($)
<=
b> Additional terms
Two hundred thousand or no/100 and $200,000.00
17
=
Notice: The amount or rate of real estate commission is not
fixed by law. They are set =
by each Broker
individually and may be negotiable between Seller and Broker (real <=
span
style=3D'position:absolute;top:42.5%;left:14.6%;width:80.52%;height:6.5%'>=
estate commissio=
ns
include all of the compensation fees to the Broker.
=
=
Enter either the percentage =
of the
listing
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6. Multiple Listing Service
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=
=
5. Ownership, Title, and Authority
This paragraph warrants that =
the
seller(s) are the only title holders. (The seller has the right to sell this property.)
19
=
This gives the agent the rig=
ht to
publish the listing on the MLS.&#=
13;