Highlights of the Listing Agreement

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Authority

This describes the legal relationship between you and the real estate brokerage, and sets a time limit for the ME agent to sell your home. Listing Agreement

Exclusive or Multiple Listing Service®?

Exclusive Listing” means that only your brokerage can find a buyer for your home. ME agents generally recommend a “Multiple Listing”, which allows them to put your home on a real estate Board’s MLS® System – a great tool to market your home and help find a buyer. Listing Agreement

Price

You have the final say over this magic number, but your ME agent will have very useful advice on what price will attract buyers. Learn more about choosing the right asking price in Determine your home’s asking price

Real estate commission

This may be a flat fee or a percentage of the final sale price. The compensation is agreed upon between you and the individual brokerage. Listing Agreement

A physical description of your property

Your ME agent will itemize the lot size, your home’s age, the style of construction, number and size of the rooms, and any outstanding selling features such as “backs onto ravine” or “fabulous kitchen renovation”. Listing Agreement

Legal information

This includes the lot number, land surveys and the zoning code. Listing Agreement

Financial information

Let people know the numbers like the minimum deposit you require or if you have a low-interest rate mortgage that can be assumed. Listing Agreement

Completion date

This lets everybody know how long you need to move out once your home is sold. 60 or 90 days is typical, but if you can be flexible this may help sell your home faster. Listing Agreement

How the home will be shown

Your ME agent can make the arrangements for viewing appointments. Any specific instructions, such as “make sure the cat stays in” can also be noted. Listing Agreement

What exactly is included in the price? Chattels and fixtures

Chattels are moveable items like washers and dryers, microwaves and window blinds. They’re not automatically included in the sale, but sellers will often include them to sweeten the deal.  Listing Agreement

Fixtures are permanent improvements to a property like central air conditioning, installed lighting and wall-to-wall carpeting. Fixtures are assumed to be included in the sale of the home unless you note otherwise. Maybe the dining room chandelier is family heirloom that you wish to take with you. The line between chattel and fixture can get blurry, so go over every item with your ME agent to make sure you have no regrets when it comes time to sell your home and everything that comes with it. Listing Agreement