North Carolina Open Listing Agreement - Residential

• Category: Real Estate - Home Sale
• State: Multi-State
• Control #: US-01728-AZ
• Format: Word; Rich Text

Description

This form is an open listing agreement between broker and seller allowing broker to represent seller and list property for sale in real estate listing services. Adapt to fit your specific needs. Don't reinvent the wheel, save time and money. Keywords: North Carolina, open listing agreement, residential, types Description: A North Carolina Open Listing Agreement — Residential is a legal contract between a homeowner and a real estate agent that allows the agent to market and sell the homeowner's residential property. This agreement provides an agent with the non-exclusive right to list and promote the property, encouraging other agents and potential buyers to bring offers. Here are some important details about this type of agreement: 1. Non-Exclusive Agreement: The North Carolina Open Listing Agreement — Residential is non-exclusive, meaning that the homeowner can engage multiple real estate agents to market their property simultaneously. It offers flexibility, as the homeowner is not bound to work with a single agent exclusively. 2. Marketing and Promotion: The agreement authorizes the agent to advertise and market the property in various ways, such as listing it on multiple listing services (MLS), online platforms, brochures, and more. The goal is to attract potential buyers and generate interest in the property. 3. Compensation: The North Carolina Open Listing Agreement — Residential typically specifies the compensation that the agent will receive upon successfully closing a sale. This compensation is usually a commission percentage of the property sale price and is agreed upon between the homeowner and the agent. 4. Timeframe: The agreement may include a specific timeframe during which it is valid and can be extended by mutual agreement between the homeowner and the agent. This ensures that the agent has a reasonable period to market the property effectively. Types of North Carolina Open Listing Agreement — Residential: 1. Standard Open Listing Agreement: This is the most common type where a homeowner engages multiple agents to market their property simultaneously. Each agent has equal rights to represent and list the property, and the homeowner can accept offers from any agent. 2. Limited Open Listing Agreement: In this type of agreement, the homeowner selects a few real estate agents to market the property. It offers a more controlled and targeted approach while maintaining the flexibility of an open listing. 3. Exclusive Open Listing Agreement: Although rarely used, this type of agreement gives one agent the exclusive right to list and market the property while allowing the homeowner to sell the property independently without any representation. In summary, a North Carolina Open Listing Agreement — Residential allows homeowners to engage multiple real estate agents simultaneously to market and sell their residential property. It provides flexibility, various marketing options, and compensation terms while empowering the homeowner to vet offers from different agents.

Keywords: North Carolina, open listing agreement, residential, types Description: A North Carolina Open Listing Agreement — Residential is a legal contract between a homeowner and a real estate agent that allows the agent to market and sell the homeowner's residential property. This agreement provides an agent with the non-exclusive right to list and promote the property, encouraging other agents and potential buyers to bring offers. Here are some important details about this type of agreement: 1. Non-Exclusive Agreement: The North Carolina Open Listing Agreement — Residential is non-exclusive, meaning that the homeowner can engage multiple real estate agents to market their property simultaneously. It offers flexibility, as the homeowner is not bound to work with a single agent exclusively. 2. Marketing and Promotion: The agreement authorizes the agent to advertise and market the property in various ways, such as listing it on multiple listing services (MLS), online platforms, brochures, and more. The goal is to attract potential buyers and generate interest in the property. 3. Compensation: The North Carolina Open Listing Agreement — Residential typically specifies the compensation that the agent will receive upon successfully closing a sale. This compensation is usually a commission percentage of the property sale price and is agreed upon between the homeowner and the agent. 4. Timeframe: The agreement may include a specific timeframe during which it is valid and can be extended by mutual agreement between the homeowner and the agent. This ensures that the agent has a reasonable period to market the property effectively. Types of North Carolina Open Listing Agreement — Residential: 1. Standard Open Listing Agreement: This is the most common type where a homeowner engages multiple agents to market their property simultaneously. Each agent has equal rights to represent and list the property, and the homeowner can accept offers from any agent. 2. Limited Open Listing Agreement: In this type of agreement, the homeowner selects a few real estate agents to market the property. It offers a more controlled and targeted approach while maintaining the flexibility of an open listing. 3. Exclusive Open Listing Agreement: Although rarely used, this type of agreement gives one agent the exclusive right to list and market the property while allowing the homeowner to sell the property independently without any representation. In summary, a North Carolina Open Listing Agreement — Residential allows homeowners to engage multiple real estate agents simultaneously to market and sell their residential property. It provides flexibility, various marketing options, and compensation terms while empowering the homeowner to vet offers from different agents.