Selling a homeAll terms starting with L
Listing agreement
The contract between a seller and a brokerage authorizing marketing of the property and setting compensation and duration.
It defines the term, the price, the brokerage’s authority to market and show, and how compensation works. It is a contract for services, and its length and cancellation terms are negotiable.
Read the duration and any protection period, which can entitle the brokerage to compensation if a buyer it introduced returns after expiry.
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