New York State Listing Agreements

By
Real Estate Agent with John J. Lease Realtors

 

 

This is the fourth in a series about forms and contracts relating to New York State Real Estate

 

 

When listing your property for sale there are several types of listing agreements. The agreement establishes the agency relationship between the seller and the listing agent.

Three common types of listing agreements are:

  1. Open Listing: The seller may employ any number of brokers and pay a commission only to the broker that brings a buyer. This type of listing often looks appealing to a seller but it usually means no one broker will be motivated spend a lot of time or money on marketing the property because a commission will not be paid if another brings a seller first.
  2. Exclusive Agency: Gives the broker the right to list, advertise and sell the property. A mutually agreed upon commission will be earned if the property is sold with in the listing term unless the seller finds a buyer without the help of any broker.
  3. Exclusive Right to Sell: Gives one Broker the right to list, advertise and sell the property. A mutually agreed upon commission will be earned if the property is sold within the listing term regardless of who brings the buyer. This form of listing gives the broker the best protection and motivates the broker to spend the most time and effort on marketing the property.

Multiple-listing agreements are either exclusive right to sell agreements or exclusive agency agreements that are listed in the multiple listing services. With this agreement the broker is given permission to distribute the listing and work in cooperation with the other members of the MLS and divide the commission between the listing and selling brokerages.

 

This is the fourth in a series about forms and contracts relating to New York State Real Estate- If you missed the prior to go to;

New York State Property Condition Disclosure

 New York State Agency Disclosure

 New York State Lead Disclosure

 

 

Barbara Carter and Becky Cook

Mother/Daughter Team Realtors

Exit Realty Services

10 Main Street

New Paltz NY 12561

Office: 845 255 HOME Barbara 845 505 3160 Becky 845 853 4210

Visit us on the Web www.UlsterNYHomes.com

Or email UlsterHomes@yahoo.com

Posted by

Real Estate in New Paltz NY 12561 and HIghland NY 12528

Barbara Carter NYS Licensed Associate Broker

Quinn Realty Group
550 Route 299 Highland NY 12528
Cell: 845 505 3160
Office: 845 883 7700   ext 103
 
Please forward my contact information to anyone you feel could benefit from my services- the best compliment I can receive is your referral

 

 

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Comments 2 New Comment

Rainer
26,817
Becky Cook
Ulster County, NY- New Paltz, Highland, Marlboro, NY Real Estate
EXIT Realty Services- New Paltz, NY

Thanks for sharing this series- it's a great education for both buyers and sellers.  For people who don't deal with these contracts and forms on a daily basis, they can be quite confusing.

August 14, 2008 06:21 PM
Rainmaker
141,896
Barbara Carter
From the Gunks to the Hudson, New Paltz NY
John J. Lease Realtors

Thanks Becky

August 14, 2008 07:39 PM
Rainmaker
141,896

Barbara Carter

From the Gunks to the Hudson, New Paltz NY
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