Real Estate, Explained – Listing Agreement

August 9th, 2011 \\ Blog, News, Real Estate, Stephanie Stoute, Toronto

Real Estate, Explained – Listing Agreement

Need to know what a Listing Agreement is? Take a read through and let us know if you have any questions or comments.

A Listing Agreement is a contract between the Listing Brokerage and the Seller of real property. The Listing Agreement grants permission for the Listing Brokerage to exclusively act on the Seller’s behalf when they offer the home for sale or for lease on the open market.

A Seller can choose to either enter into a Multiple Listing Agreement (MLS) or an Exclusive Agreement.  The MLS agreement allows the Listing Brokerage to advertise the real property on www.realtor.ca.

The Listing Agreement confirms:

  • Duration of the contract
  • Listing price of the real property
  • Commission to be paid to Listing Brokerage
  • Authority to offer commission to a Co-operating Brokerage
  • Holdover period

The Listing Agreement also contains a number of clauses that further outline the relationship and expectations between the Listing Brokerage and the Seller.

For a more in-depth look at the form, with explanations included by the Toronto Real Estate Board, click HERE

Have any questions? Please email me at sstoute@propertyedge.ca or call me direct at 416-881-5434

Stephanie Stoute | Co-founder | Realtor | Property Edge Real Estate

Image provided by Eleaf