It is called an “Exclusive Agency” listing agreement.
This means that the agreement you sign allows our service to enter your home for sale on the MLS and all the major real estate portals online.
The agreement is a mandatory requirement for the MLS.
In terms of commission, this is how the agreement works.
- If the property is sold by the seller without any use of a buyers agent, the seller is not obligated to pay a buyers agent commission.
- If the property is sold by a buyers agent, the seller is obligated to pay the agreed buyers agent commission.
Please Note: With our service, you are responsible for handling the sale of your home, we do not provide and typical agent/client representation to you. That allows us to only charge a low flat fee price and not a high commission.
About the Author: Kris Lippi is the owner of ISoldMyHouse.com and the broker of Get LISTED Realty. He actively writes about real estate related topics such as buying and selling homes, how-to guides for around the house and home product recommendations. He has been featured in Inman, Readers Digest, American Express, Fit Small Business, Policy Genius, Lending Tree, GoDaddy, Manta as well as other major websites. Read more about us here.