Tag Archives: MLS

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Gentlemen, this is a football.

We’ve all heard it before.  The words of Vince Lombardi to the Green Bay Packers on the first day of training camp in 1961 after a terrible conclusion to the previous season.  He realized the importance of getting back to the basics sometimes and mastering the fundamentals.  Also this audience continues to grow and some people reading here are not as experienced as others. So here we go.

What is an MLS entry-only listing?

Traditional, full-service agents, in return for a pledge of a healthy amount of commission, put your house in the MLS and then expose the house to prospective buyers.  They put out a sign.  Sometimes they take phone calls about the house and show it to prospective buyers.   Sometimes they hold an “Open House.”   They or their assistant can answer your questions whenever you wish, around the clock. They can make recommendations concerning the sale.  They receive and negotiate any offers on the house.   They are ‘Full-service.”  But, more often than not, the house is sold by another agent who saw the house in the MLS.

With an MLS entry-only listing, for a few pennies on the dollar, you have to answer the phone and set up the showings.  If there is an “Open House,” you do it.  You negotiate your own sale.  And the house is still often sold by another agent who is a member of the MLS.

Do I Still Use a Broker?

Yes.  Absolutely.  A broker who is willing to do this type of listing must meet the requirements of any other, plus some extra.  He also must make clear to the seller what tasks he does and doesn’t do.  In some ways, it is like calling a newspaper and placing an ad.  The paper promises to run the ad, but they don’t promise that people will read it, or that it will be effective.

In some ways, this type of broker is a highly regulated, insured, licensed clerk.  Even if the broker wanted to do extra, he has signed an agreement that he would not.  Therefore this type broker is probably not on call around the clock.  He may not work weekends.  Once the house is in the MLS, his job is done.

You Can’t Buy a Hamburger and Expect a Steak

Most people, and most sellers are quite accustomed to the old type, full-service agent, and naturally expect their ways are that of ANY agent.  But, in most cases, these new type agents may keep what is closer to “business hours.”  They may have even signed an agreement to give you no advice negotiating.  Sometimes customers don’t think about that and get mad when the agent is not sitting at his computer, waiting for their call Sunday night.  Sorry, “MLS entry-only” is not the same as “full service.”  Instead of spending all my time on one or two listings, I work with a LOT of customers.

And yet, even though this sounds pretty basic, last week one of my customers asked me quite seriously, “how do you make any money this way?”

Don Martin, Martin Properties (615) 973-8970  www.mlsDon.com

 

Photo credit: Lee Edwin Coursey via Visual hunt / CC BY

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Why can’t you just put my telephone number on my MLS listing?

The MLS is like a great big old country club.

The country club may have the best golf course in town or the finest restaurant in the state.  But the fact is, if you’re not a member, or WITH a member, you are not going to be able to enjoy either one.   (Click to Tweet!) When it comes to the MLS, the brokers are the members.  It was originally created by brokers for brokers.  You can be a guest, but it takes a lot to become a member.

As guests, a lot of people have been satisfied without having to become a broker themselves.  You can always see some of their actual remarks here.

My customers ask me if their phone number will be on the listing.  The answer is YES…  and NO.  It’s on there in three places, but just not where they can see it unless they are a Realtor.

So let’s look at why the MLS was set up in the beginning.

The MLS was set up to SHARE INFO between brokers!

Period.  A broker could use another broker’s info to sell the house directly.  A broker could use another broker’s info to publish as their own in order to sell it.  In fact, they each spend a considerable amount of money to have that privilege.

A Tale of Two MLSes

People don’t generally realize that there are two.  All the information that exists regarding a certain listing is on the master MLS listing.  That is the one that we, as Realtors use to input details of the house.  That is also the one that we, as Realtors use to get the info we need to set up showings and to make offers.

There is also a sanitized version that does not contain information about commissions, or contact information for showings.  This is the public version.  Some websites that offer search engines available to the public use this sanitized version.  If the public has questions or wants to make an appointment, the only point of contact there is the Realtor who put it there.

If a Realtor wants to give a print-out of listings to a prospective buyer, he gives them the sanitized version so the only number they have to call is that of the Realtor who gave them the info sheet.  In the agreement with all Brokers is permission to take that information concerning a house and fit it into their own template, so that it looks like one of their own listings.  They can then make money by being the buyer’s broker.

None of this would be possible if the information included directions to call someone else.  But remember this is a tool that belongs to Realtors.  You can use it if you do it correctly through a broker.  But if you need to drive a nail, you can borrow a carpenter’s hammer, but you can’t  put YOUR name on it.  All you can do is drive the nail and give it back to the carpenter.

You can’t out-smart the MLS!

So don’t even try.  Spend your energy on something more productive.  They will see it if you try to photo-shop your phone number on the house, the roof, the lawn or in the sky.  They will detect even the faintest of watermarks. They will see it in the text, even if its backwards or encoded.  They will see it even if you have a small “For Sale” sign in the yard that can be magnified to reveal the number.

I don’t mean for this to sound like the voice of experience, but I do know what I’m talking about.  If you’re a newcomer, it’s easy to think that you have thought of something equally new, but don’t spend too much time on it.  They just don’t allow your contact number on the listing.

So do it right, and get it done now!  Call me at 615-973-8970

or go to mlsDon.com to get started.

Don Martin

Martin Properties

Call me if you if you have any questions.
Don Martin
Martin Properties
(615) 973-8970
Graduated Real Estate Services
Nashville-Knoxville-Memphis
TNFlat-FeeMLS.com or mlsDon.com

 

 

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I want to have my house in the MLS with no agent or broker.

I want to have the super-charged exposure of the MLS to sell my house, but I don’t want an agent or broker involved.

While that may seem nice on the surface, it just doesn’t work, and you can’t do it.  Websites that use terms like “agent-less”, or “no more agents”, or “no-broker”  may be a little misleading. You CAN”T be in the MLS without one!

What you need to admit is that the brokers and agents themselves don’t necessarily offend you, but the commission they charge certainly does.  So why can’t we just do it ourselves?

The MLS is like a great big old country club.

The country club may have the best golf course in town or the finest restaurant in the state.  But the fact is, if you’re not a member, or WITH a member, you are not going to be able to enjoy either one.   (Click to Tweet!) When it comes to the MLS, the brokers are the members.  It was originally made by brokers and for brokers.  You can be a guest, but it takes a lot to become a member.

As guests, a lot of people have been satisfied without having to become a broker themselves.  You can always see some of their actual remarks here 

Moreover, the club has to be in your state

or licensed and active in your state.  Regardless of how catchy the name or website of a national company may seem, when it comes down to it, they will have to find a broker in your state who is willing to give you a MLS entry-only listing, and do it for even less than you are paying the national website.  My company, for instance, is in Tennessee, and I can’t help someone in Kentucky, even if they begged me.  But we do help people in Memphis, Nashville, and Knoxville.

So to sum it up, you CAN shop around and save money with a broker, but you will have to involve one in some way.  Some brokers are easier to work with than others, and some websites are easier to use.  On one of ours, you can start inputting your listing on-line any time of the day or night.

 

Don Martin is 30+ yr broker/owner of Martin Properties.

Call me if you if you have any questions.
Don Martin
Martin Properties
(615) 973-8970
Graduated Real Estate Services
Nashville-Knoxville-Memphis
TNFlat-FeeMLS.com

This real estate website design template is Copyrighted

Sold Home For Sale Sign in Front of Beautiful New House.

Maybe there is NO free lunch, but in Tennessee, there IS Free MLS!

Yes, we can give you a FREE MLS listing.

The real thing.  Not just an MLS wanna-be, the REAL thing.  FREE.

Here’s what you do…

We have a new website, at the url www.TNflat-feeMLS.com and you need to go there.  You can enter some info about your house and upload your pictures and build your free listing.  But wait!  That listing is GOOD, but it’s not the MLS.

At this point, you have the option of picking a plan you like and paying for it, but don’t pay for it right now.  You just email me at donmartin711@gmail.com and I will get you a free MLS listing.

Yes the regular pricing is ultra-cheap, but free is ridiculous! All normal state laws and MLS regulations apply.  Free listing is for a month, just about enough time for you to see if it is the kind of thing that interests you.

This is me giving you a free MLS listing. www.TNflat-feeMLS.com

This is me giving you a free MLS listing.

This is you happy about your new MLS listing. www.TNflat-feeMLS.com

This is you happy about your new MLS listing.

You call me if you if you have any questions.
Don Martin
Martin Properties
(615) 973-8970
Graduated Real Estate Services
Nashville-Knoxville-Memphis

 

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90-day relist

90-day relist

Have you ever picked up a homes magazine in July and looked at a house for sale where the picture still had snow on the roof of the house.  That’s what I am talking about keeping your listing fresh.

There are some, and thankfully not as many as there used to be a while ago, agents who list a property and then move on and never pay any further attention to it.  They subscribe to the 3 Ps of real estate method.  Put it in the MLS, Place a sign in the yard, and Pray…

So keep your listing fresh.  Keep it fresh in appearance even if you have to change some of the pictures (especially the primary photo,) change the price or commission or incentives from time to time.

The ultimate freshen-up is to completely withdraw the listing and relist it, especially with a small price change and a new primary photo.  In most areas and MLS systems, for the same agent to relist, the house must be off a certain number of days, so there is some lost time.  But you receive a new MLS number and days-on-the-market clock.  

Know before you do it whether the Realtor will charge you to re-list the house, because in some ways it is just as much work to re-list a house as to list it in the first place.

Lather, rinse and repeat, or

Never, never, never give up!

 

 


Click HERE to put my house on the MLS !


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.

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No offers or low offers

Ten showings with no offers

Getting your house ready to be shown is not always easy.  Sometimes it’s quite a job.  if you are living in the house, and if there’s more than one of you, especially if there are children living in the house with you, it can be a daunting task to get ready to show it.  It’s not just having company visit, it’s having company visit who will inspect your house.  Closely.

Sometimes going to see a house is also a chore, especially if there is more than one involved in the tour.  And I mean if you have a spouse and children involved and I also mean if you’re involved in seeing more than one house on the same trip.

So showing is not a piece of cake for buyers or sellers but especially sellers.  If there is excitement,  if there is interest and a lot of questions, and if there are offers, this time is more exciting and enjoyable.

But to get ready for and sustain several showings with no offers is disheartening.  In fact, some brokers and trainers say if you have 10 showings with no offers, then it is time to change your price. You may be certain that you’re priced correctly, but you should have an offer by this point.

There is a group of people some call bottom feeders, who make it their business to continually make low offers on properties.  Sometimes they buy one and can make money by reselling it.   Those people are sporadic enough that I don’t really count their numbers in the numbers that I use, so if you get a bottom feeder offer,  then I don’t give that the same value as a serious offer.

So when something needs to be changed, the price is probably the easiest thing about your house to change

If you receive three offers that are serious…

If on the other hand, you do receive offers and they are not necessarily bottom-feeder type offers, but they are too low, that is disappointing.  If it becomes evident that this is a trend, and you receive more offers that are too low for you, some say after three offers of that nature it’s also time to drop the price.  You may have your sights too high.

In other words, if either you get no offers or you do get offers and they are what you consider to low, then something needs to change.  If the low offers are close enough for you to counter offer at a higher price, we are assuming for the purpose of this article that you did counter and were not successful.

It’s time to bite the bullet and drop the price.


Click HERE to put my house on the MLS !


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.

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Commissions, bonuses, and buyer incentives

 Price boldly, reward modestly

I have found that many people, after they have owned their house for a while, don’t always realize the value of their house has grown significantly.   They keep thinking of their house in terms of what they paid for it when they bought it originally, but the times change and the housing markets change, and it’s good to be fairly sure of the value of your house before you put it on the market.

People who live in your neighborhood can usually tell you what houses are selling for in that neighborhood, so you don’t really have to pay for an appraisal, or necessarily have a real estate agent run the comparable sales for you.  You already have a pretty good idea of what your house is worth.

Moreover, you have a pretty good idea of what you owe on the house and what you have spent on the house. Therefore, you probably have a pretty good idea of what you would like to receive for your house.

This is the point where sellers get a little shy and think that maybe nobody would pay that kind of money for their house. The trick is to get past that feeling.   I propose that my customers go ahead and price their house boldly.  The market value of your house will tend to seek its own level, but if you start out too low but you may lose money quickly that you may have otherwise have received.  So I suggest you select a strong figure for your house, and evaluate the showings over the first two or three weeks.

If you put your house in the Multiple Listing Service, you have to offer a specific amount to a participating broker who brings a buyer to the transaction.  That is a large piece of your price considerations.  This amount varies in different parts of the country.  We can’t just pick an amount, and call it standard, because nothing is standard.

But if we say that different areas of the country pay slightly different commissions, then we are not trying to fix their price at any particular level.  Each commission is determined by each real estate company.  In a traditional listing, the commission is paid by the seller to the listing company. The listing company often offers a portion of that to a selling company. sometimes it’s 50% of the total commission. sometimes its less.  This also varies within a state and within the country.

If you are selling your house FSBO, then what you are offering is the half or portion that is offered to a selling broker.  So let’s do some quick math.  If the Commission in your area were 5%, and if it were split 50% to listing and 50% to the selling broker, then you would just offer half of 5% or 2.5% to a selling broker to bring you a buyer.

With my customers, about half of them sell to someone who is working with a Realtor and half sell to someone who is not.  What that means is, if you are selling a $100,000 house as a FSBO in the MLS , you may end up owing an agent $2,500 in commission.  You may also owe nothing if the buyer used no agent.

The fact is that in many areas of the country a more standard commission total commission is 6% and in some areas of the country the total commission is 7% or more.  The thing to remember is that it varies.   It’s not written in stone

Many of my customers start off offering 1 to 2 percent.  Some of them offer a specific dollar figure.  This gives them a pretty good handle on their cost of sale from the start.  Always remember that an agent could bring you an offer that is good enough that he may get you to negotiate your commission figure to a higher rate.  But that is your call, not theirs.

Right place right time

There was a time earlier in real estate when someone who wanted to buy a house would talk to a real estate agent, and explain what they were looking for in that new house.  The agent would then go to his books or even his computer, and search through houses that were on the market to find a house that was suitable for this buyer. Sometimes the agent would give the buyer reports and lists of houses that qualified so that the buyer could drive by or tour those houses.  That system was Realtor driven.  The agent picked out the houses to see.

Now in real estate, when someone decides to buy a new house, they make themselves comfortable on their sofa, get online, and surf web sites looking for a house they like that suits their needs. When they find a house they like, if they are working with a Realtor, they call that Realtor and ask him or her to get them in a particular house. This system now is customer-driven.

Whereas in the old system, the agent worked to find the correct house for the buyer, the new system, commissions are often earned by the agent who is in the right place at the right time.

Half and half

We talked already how whatever standard traditional commissions are offered, they’re often split half and half between the listing and the selling companies.  There are other splits involved.  Individual agents must split commissions with their companies.  Commissions are always paid to the broker (company,) and then the broker pays the agent. there are many different splits with different companies, some 50/50, some 75/25, some 90/10, depending on the company, the experience and production of the agent, and the amount of support the company provides to the agent.  There are some companies good pay 100% of the commission to the agent, and the agent in turn pays monthly fees to the company.

So the amount of money you’re offering as a condition is not just handed to the agent who is doing the work. just remember a lot of people share that amount.

Commissions vary

I already mentioned that many of my customers start their listing offering 1 to 2%.  It varies and it is negotiable.   Also remember that each agent is usually working for a broker that determines an acceptable level of commission for that company.  I work with one or two builders and house slippers who just call me and give me the address of one of their houses that is ready to be on the market.  Some of my sellers I know to start out at 5% to the buyer’s broker. This is a high figure, but some of my builder customers have decided they are not in business to inventory houses, and they like to move them quickly.  So you determine commission level partly by how quickly you need or want to sell your house.

Bonus

 Smetimes it’s a nice incentive for buyers’ agents to offer them a bonus for an acceptable offer on the house.  That is good proactive marketing.  Have the listing agent mention it in the listing, preferably in all caps,  and for a specific period of time so you can measure the results.   In other words, “$1,000 bonus for an acceptable offer by May 10th.”  Make it a two week window of opportunity, and then decide if it was worth while.  If not, drop the bonus or change the bonus for the next period.  Always be experimenting.  Don’t let your listing get stale.

The 26-week plan of action

Plan of Action for Your Listing Don Martin  (615) 973-8970

Notes from Chapter 8 of Guerrilla Real Estate including incentives for agents – %, bonus and Joe Public wide-screen TV etc. Hypothetical $100,000 house.

Week 1 and 2 – Honeymoon, full price,1 or 2% commission ($100,000-2%)

Week 3 – Drop price by $1000 ($99,000 – 2%)

Week 4 and 5 – Raise back price $1000 – add $1000 agent bonus for acceptable offer ($100,000 – 2% and $1000)

Week 6 – Buffer period ($100,000) (OPEN HOUSE)

Week 7 and 8 – Wide screen TV with acceptable offer ($100,000 – TV)

Week 9 – Buffer period ($100,000) (OPEN HOUSE)

Week 10 and 11 – Original price with 3% commission ($100,000 – 3%)

Week 12 and 13 – Drop price $1000 with 3% commission ($99,000 – 3%)

Week 14 and 15 – Add $1500 bonus commission for acceptable offer ($99,000 – 3% and $1500)

Week 16 – Buffer period ($99,000 – 3%) (OPEN HOUSE)

Week 17 and 18 – Wide screen ($99,000 – 3% and TV)

Week 19 Buffer ($99,000 – 3%) (OPEN HOUSE)

Week 20 and 21 – Drop price another $1000 w/ 3% ($98,000 – 3%)

Week 22 and 23 – Add $1500 bonus commission ($98,000 – 3% and $1500)

Week 24 – Drop price another $1000 ($97,000 – 3%)

Week 25 and 26 – 3% W/$1500 bonus & wide-screen ($97,000 – 3% and $1500 and TV)


Click HERE to put my house on the MLS !


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.

202 Calgary Ct Franklin, TN

Showings and Open Houses

Showings and Open Houses

Fact sheets

This overview will mention three types of fact sheets, OUTSIDE, INSIDE, and Mortgage rate sheets. It is your decision, obviously whether you will use one or more in the sale of your house.

OUTSIDE

This sheet lives in a small box or tube on or near the FOR SALE sign. Variations on this concept are the QR code on the sign and the website that can be accessed by smart phone. All simply deliver facts about your house to a stranger. The simplest fact sheet would be a copy of the MLS listing. There are also software programs available with which you could design a more attractive fact sheet.

When you first decide to sell your house and offer a fact sheet, I suggest you see approximately how many homes are in your neighborhood, and supply black and white copies up to about a third the number of neighbors before you start putting out a color sheet or more expensive brochure.

Another concept I sometimes employ is to leave off some very important fact, such as the price. Any reason to cause the looker to have to call you is what we are looking for here. Nothing ever happens until there is a conversation.

INSIDE

The inside fact sheet could actually be the same as the outside, or even nicer. It simply depends on how much you want to spend. People seem to enjoy having something to take along home with them. You should have your property condition disclosure forms handy but not sitting out, or they will take one of those too.

MORTGAGE RATE SHEET

This sheet we have discussed previously that is prepared by a Mortgage company specifically dealing with your house. It will show down payments and monthly payments base on a couple of different factors.

Pointer signs

Pointer signs are sometimes used during an open house if your house does not sit right on the main road. Pointer signs usually succeed if you have two turns or fewer.

Some people use pointer signs for the entire time the house is for sale.  It is your choice.  Pointer signs can be invasive. If you put them in the right away, sometimes and neighborhoods have rules against that.  They will be collected and tossed.    So it’s best to put pointer signs back from the street just a little bit.  But of course, that’s somebody’s yard.  Always try to check with the owner of that yard and be sure it’s okay for you to put your pointer sign there.   Some areas only allowed pointer signs on the weekends during open houses.

Captions

In the Middle Tennessee MLS we have spaces for 20 photographs including the primary picture.  Under each photo there is room for a caption.  Captions look best as one or two conversationally styled sentences.  Bullet lists don’t look good in that format.  We have 250 spaces for letters or spaces.  That amounts to a couple of complete sentences. after 250 letters the system drops the rest.

If you do captions don’t mention the obvious mention something that is not obvious and not dealt with in the rest of the listing. You should also check the type listing that you have.  Some very basic MLS entry-only listings do not allow captions under the photos.

Tent signs

Tent signs are nothing more than 3 x 5 index cards folded in half, so that they stand up like a pup tent. Since your house will be selling  itself, you nmay eed to let it explain some items that may not be readily apparent. For instance, you put all new cat 5 cable behind this wall, but it doesn’t show up in the picture.

Elsewhere, I explained that you should not be giving the tour but of course there are things that need to be pointed out, and with tent signs this can be accomplished with ease. I have had Realtors tell me that they hate my tent signs because they make control of the prospects.   People are looking for the next easter egg, and concentrating on the house, rather than the agent, and that makes some of them feel unimportant.

You might say that the tent signs may end up reading like the picture captions. The important thing is neither you nor the agent will be will sell your house. Your house will sell itself when the magic happens as the prospect looks at it. We need to simply let that happen.

Dialogs      

The first dialogue to remember is for when the phone rings, and somebody is asking you to see your house.  At that time, you need to ask whether or not that person is working with a Realtor.

If that person says “no,” then you say “great let’s make a time for you to see the inside of my house.”   If that person says “yes I am working with a Realtor,” then you say “if it’s all the same with you, I don’t want to step on any toes, so would you please coordinate this with your REALTOR.”

The best surprise is no surprise, and now you know if somebody is going to be expecting to be paid a commission, because that will affect the cost basis of your sale transaction.  If someone will be expecting commission, they need to earn the commission by doing the legwork, setting up the appointments, and conducting the tour for the potential buyer.

If the person says that he has a Realtor but just wants to look on his own before he involves his Realtor you say that could potentially cause a problem, so just please have their Realtor present.

The second dialogue you should know is used when someone is touring your house. You let them in the door, and tell them “you folks know what you’re looking for, so make yourselves at home.  If you have any questions, I’ll be right here, so just holler up.”  Let them look around the house, and you sit on the sofa.  Don’t feel compelled to leave, and please don’t feel compelled to do the tour.

Getaways

Getaways, or leaving the premises while your home is being shown,  really don’t need to occur.  Whether the prospect is with a Realtor or by themselves,  just let them look on their own. Sometimes people even feel pressured when the seller is there giving the tour.  Sometimes you may not be good at giving the tour, and you explain things we are very evident.  You can, in some cases, insult the prospect’s intelligence.  So sit on the couch while they look.

If the prospect is by themselves and not with an agent, and you feel a little worried to be in the house with them, have your car parked in the driveway and excuse yourself to work on your laptop or return some phone calls.  That way, you can see the front door so nobody steals your TV, and you are in sight of the neighbors if that makes you feel better.

Some agents recommend you drive around the block or go somewhere while they sell your house.  Just politely, yet firmly tell them where you will be, on the sofa, or in your car in front of the house.


Click HERE to put my house on the MLS !


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.

Listing Contracts

Types of Listing Contracts

A listing contract is an agreement between a seller and a licensed real estate broker that authorizes the broker to represent the seller in the process of selling his home. There are several different types of listing contracts, but very few of them are used. The most common one used is the “Exclusive Right to Sell” listing. But you will find that there are a lot more types, allowing you to choose the level of services authorization to give to your agent. Here are some of them:


Join our merry band of peeps and get a FREE REPORT – click here!


One-Time Showing

This type of listing contract is  in effect for one showing to one prospect.  Otherwise the owner is free to sell the house themselves and pay no commission.  This relationship only makes sense if the house is not listed, and not in the MLS.   The listing contract identifies the potential buyer and guarantees the agent a commission if that buyer buys the home. Just like open listings and some exclusive agency listings, this type may lack  marketing efforts on the part of the agent.

The commission the seller will spend is negotiable, with negation made prior to the showing, and may cost as much as the buying and selling side of a traditional listing, payable at closing- transactionally funded.

Exclusive Agency Listing

This one involves a broker, who, therefore makes it possible to have the house in the MLS for the exposure. An exclusive agency listing will give sellers the right to sell their own home, without paying  commission unless the house is sold through a licensed real estate professional. Should the house be sold without any help of agents, the contract allows homeowners to pay no commission at all. The reason why this type of listing contract is widely used is the temptation of not having to pay a broker.

The expense to the seller may be that of the buyer’s agent side of a traditional sale, payable at closing, and a smaller, flat-fee to the agent who gets the house in the MLS, usually payable in advance.

Exclusive Right to Sell Listing

The most popular type of listing with some sellers and all brokers, this contract gives the full right for your broker to do whatever it takes to sell your house. For obvious reasons, this is probably the type of contract where you can expect the most incentive from the agent – a good marketing effort can take place here, and the homeowners’ work is much reduced.

The cost to the seller is the most of these three, but it is usually paid out of the proceeds at closing.

Any of these listing relationships can involve different levels of service.  Before you choose your contract, always make sure you know every type of listing available to you. Take in mind how much effort you would like to contribute to the home selling – this is often what distinguishes the types. Discuss the possibilities and disadvantages of each type. Remember, a listing contract is your first legal step in selling your house – take that step carefully and have it in writing exactly what you are expecting from the agent.  The best surprise is NO surprise!


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.