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New York State Listing Agreements

 
 
This is the fourth in a series about forms and contracts relating to New York State Real Estate
 
 
When listing your property for sale there are several types of listing agreements. The agreement establishes the agency relationship between the seller and the listing agent.
Three common types of listing agreements are:
Open Listing: The seller may employ any number of brokers and pay a commission only to the broker that brings a buyer. This type of listing often looks appealing to a seller but it usually means no one broker will be motivated spend a lot of time or money on marketing the property because a commission will not be paid if another brings a seller first. Exclusive Agency: Gives the broker the right to list, advertise and sell the property. A mutually agreed upon commission will be earned if the property is sold with in the listing term unless the seller finds a buyer without the help of any broker. Exclusive Right to Sell: Gives one Broker the right to list, advertise and sell the property. A mutually agreed upon commission will be earned if the property is sold within the listing term regardless of ... more

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