Cape Coral Florida's Real Estate Guide

Once you have found a real estate agent to represent you in the sale of your home, you are ready to enter into a listing agreement with that agent. As defined by Wikipedia, "a listing contract is a contract between a real estate broker (or his/her agent representatives, acting in the broker's name) and a seller or sellers of real property to give the broker the right to offer the property for sale." There are three main types of listing agreements: open listing, exclusive agency listing, and exclusive right-to-sell listing.

An open listing agreement is non-exclusive and allows owners to sell their property themselves. With this type of agreement, an owner can elect to list their property with more than one real estate agent and pay only the agent that provides the buyer for the property. Sellers benefit from this type of contract in the form of lower fees. A seller will generally only pay the broker who represents their buyer, cutting the typical fees in half. This type of agreement also allows a seller to completely avoid fees if they are able to find a buyer themselves. Note: This type of listing is frowned upon by most full-service real estate brokers.

An exclusive agency listing agreement is almost the same as an open listing agreement except that the broker actually represents the owner. An owner can still sell their own home and not pay commission fees. Brokers can work with other brokerages to find a buyer. In this case, the owner would pay a commission to be split between the broker representing the owner and the broker who found the buyer.

An exclusive right-to-sell listing agreement is the most commonly used agreement. The broker is given the right to obtain a commission from the sale of the property by representing the owner and finding a buyer. The owner pays both the listing and the selling broker fees. Additionally, the owner cannot sell their property on their own without paying a commission unless there is an exception in the listing contract.

The listing agreement also addresses other terms and conditions such as the length of the listing, selling commission, cancellation of contract, and expiration of contract. Be sure to pay attention to all of the terms and conditions presented in the listing agreement to be sure that you are making the best decision possible. It is important to find a great realtor and to enter into the right listing agreement for you. If you are ready to sell your home in Cape Coral, Fort Myers, Estero or Bonita Springs, I can help! I am experienced and here to assist you in the sale of your Cape Coral home. Contact me today to find out how I can help you!