Royal Lepage Listing Agreement

Sure, you see turf panels and MLS offers, but do you know everything they do to earn their commission? A legally binding agreement between two or more persons or parties, in which a party promises to provide a service or property for a fee. Before closing the list price, you can ask us to make an estimate of the net cash product you will receive after the closing of the sale, based on the proposed list price and the financing agreements currently in place. In British Columbia, the two most common types of listing agreements are: in this case, the listing agent agrees to share a certain amount of commission with any other member of the real estate authority capable of finding a buyer for your property. It is not uncommon for a listing agreement between a real estate agent and a seller to involve a “holdover period.” This clause stipulates that the seller is required to pay the commission to the real estate agent if the property is sold within “x” days following the conclusion of the listing agreement, provided that the buyer was introduced into the property during the period of the listing or saw it. An agent who invests a lot of time and effort wants to be protected if a buyer decides to make an offer shortly after the expiry of the listing contract. A recent decision in the Ontario Court of Justice upheld the over-term clause after the seller attempted not to pay the real estate agent`s commission. Each kind of list is valid only for the period specified in the agreement. You should also be aware that even after the exclusive offer has expired; You may be required to pay a commission to the listing agent if you sell your property to someone who buys based on agent shares during the list period. Once a list price has been set, you will be asked to sign a LISTING AGREEMENT. We will use market research with our knowledge and know-how to help you determine the best possible list price for your home. However, it is important to keep in mind that the price you have set should be attractive to potential buyers under current market conditions. As with any legal document, it is important to make sure you understand what you are signing. The purchase and sale of real estate is a period of activity; it is easy to simply sign quickly on the polka dot line without paying much attention, but by doing this, you accept what is written in the list agreement (which is a legally binding document).