In San Jose, California, an Open Listing Agreement — Residential is a legally binding contract between a homeowner and a real estate agent or broker. This agreement allows the agent to market and list the property for sale without exclusivity, meaning the homeowner can engage multiple agents simultaneously. It is designed to provide flexibility to the homeowner and increase the exposure of the property to potential buyers. Keywords: San Jose, California, Open Listing Agreement, Residential, homeowner, real estate agent, broker, marketing, property, sale, exclusivity, flexibility, exposure, potential buyers. There are different types of Open Listing Agreements in San Jose, California, to accommodate various needs and preferences of homeowners: 1. Non-Exclusive Open Listing Agreement: In this type of agreement, the homeowner can engage multiple agents to sell their property, and the agent who brings a qualified buyer and successfully closes the sale is entitled to the commission. The homeowner also has the right to sell the property independently without involving any agent and paying commission. 2. Exclusive Open Listing Agreement: Although it may sound contradictory, this type of agreement grants exclusivity to a single agent. It means that the homeowner cannot engage other agents simultaneously, but they have the flexibility to independently sell the property without paying commission. 3. Limited Open Listing Agreement: This agreement restricts the marketing and listing of the property to a specific group of agents chosen by the homeowner. This type of agreement is beneficial when the homeowner desires to work with a select group of trusted agents rather than engaging the entire real estate industry. 4. Time-Based Open Listing Agreement: In this variation, the agreement is limited to a specific duration, like three months or six months. After the agreed-upon time, the homeowner can either renew the agreement or choose a different listing method. Keywords: Non-Exclusive Open Listing Agreement, Exclusive Open Listing Agreement, Limited Open Listing Agreement, Time-Based Open Listing Agreement, homeowner, agents, marketing, commission, exclusivity, property, sale, real estate.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.