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Oleg Potemkin (RA)
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Oleg
Potemkin (RA), Partner Hawaii Realty International, LLC
Honolulu Oahu Hawaii
Tel:
(808) 398-9987 Fax: (808) 356-1737 Email:
oleg@hawaii-realty.com
Types
of Listing Contracts
A listing contract is
an agreement between you and a licensed real estate broker that
authorizes the broker to represent you in the process of selling your
home. There are several different types of listing contracts, but very
few of them are used. The most common one used is the "Exclusive
Right to Sell". But will find that there are a lot more types,
allowing you to choose the level of authorization to give to your
agent. Here are some of them:
Open Listing
Considered the one most generally used, this type of contract is for
people who are want to both sell their home and work with real estate
agents. What the contract does is giving the right for agents to do
showings of your home, and gives them an amount of commission if the
client chose to buy your house. The good thing about open listing is
that there are nothing exclusive or painfully bonding about them. The
bad thing is that you can expect less marketing or advertising done.
One-Time Show
This type of listing contract is pretty much the same to open listing.
It’s generally used by people trying to sell their own home and
involving an agent for the home showings. The listing contract
identifies the potential buyer and guarantees the agent a commission
if that buyer buys the home. Just like open listings, this type lacks
of marketing efforts.
Exclusive Agency Listing
During your home selling, you will find that different types of
listing contracts involve a lot of different people. This one involves
a broker. Basically an exclusive agency listing will give you the
right to sell your own home, without paying the broker any commission
unless the house is sold through a licensed real estate professional.
Should the house be sold without any help of agents, the contract
allows homeowners to pay no commission at all. The reason why this
type of listing contract is widely used is the temptation of not
having to pay your broker.
Exclusive Right to Sell Listing
The most popular type of listing with sellers and brokers, this
contract gives the full right for your broker to do whatever it takes
to sell your house. For obvious reasons, this is probably the type of
contract where you can expect the most incentive from the agent – a
good marketing effort can take place here, and the homeowners’ work
is much reduced.
Before you choose your contract, always make sure you know every type
of listing contracts available to you. Take in mind how much effort
you would like to contribute to the home selling – this is often
what distinguishes the types. Discuss the possibilities and
disadvantages of each type. Remember, a listing contract is your first
legal step in selling your house – take that step carefully.
Your
Hawaii Real Estate Specialist
Oleg Potemkin (RA), Partner Hawaii
Realty International, LLC
1888 Kalakaua Avenue, Suite C-312, Honolulu,
Hawaii 96815 USA
Tel: (808) 398-9987 Fax:
(808) 356-1737 Email: oleg@hawaii-realty.com
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