Listing In Real Estate And Its Types

Types of listings - Awan Properties

What is Listing?

Listing is an act of arrangement of a firm’s products in a list. A real estate listing is an advertisement of a property that is for rent, sale, or wanted. There are many types of listings but common ones are as follows

Types Of Listings

Basically, there are 3 types of listing. 

  • Exclusive Right to Sell
  • Exclusive Agency
  • Open Listings

Exclusive Right to Sell

The exclusive right to sell is a listing agreement under which the listing dealer becomes the agent of the Seller. And the Seller is willing to pay the commission to the dealer regardless of whether the listed property is sold by the efforts of the seller itself or by the efforts of the dealer. The exclusive right to sell is the most common type of listing 

Exclusive Agency

An exclusive agency listing is similar to an exclusive right-to-sell listing, but with one key difference. In an exclusive agency listing, the seller retains the right to sell the property themselves without paying the agent a commission. However, if the agent finds a buyer, they will earn a commission. This type of listing gives the seller more control over the sales process, but the agent may not be as motivated to sell the property.

Open Listings

Open listings are a non-exclusive agreement or type of listing under which the owner can contact multiple dealers and agrees to pay the commission only to the dealer which brings the buyer whose offer is acceptable to the owner.  Open Listing gives the real estate agent the right to bring the purchaser for a visit to the house. If the agent sells out or rents out your home he will earn a commission but the agent is not allowed to advertise your listing in MLS or market openly. 

In an era of technology, listings are being advertised on the agency’s social media platforms like Facebook, Instagram, Twitter, Website, etc. 

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