After choosing a real estate company, you are ready to sign the listing agreement. This agreement will state how much brokerage fee, or “commission,” shall be paid, who will receive it, who has the right to produce potential buyers, and how long the agreement is valid. It should also include a list of personal property that will go with the house. The length of the listing contract will vary.
In the “Exclusive Right to Sell” agreement, the listing company is entitled to a commission regardless of who sells your property. If another office produces a buyer the commission you pay is shared between the two companies.
A listing agreement is a binding contract. Read it through carefully and ask questions until you understand every part of the agreement before signing.