Real Estate Listing Contract Information

Verify that all parts of the agreement between seller and broker are in writing.

A real estate listing contract includes, in writing, all the information necessary to clearly articulate the terms of the agreement between a broker and a seller, so that both parties fully understand their rights and obligations.

Names

The contract includes a record of the names and signatures of both seller and broker, and both receive copies of everything they sign or initial.

Effective Period

The effective period is definite. The contract includes a record of the date it goes into effect and the date it ends.

Property Identification

The listing contract clearly identifies the name of the property for sale, such as "Longhorn Ranch," along with the address, city, county and state where the property is located.

Sales Price and Commission

The seller is obligated to sell the listed property at the price agreed upon and recorded in the listing contract. This is the sale price required for the broker to earn a commission unless, through negotiation, the seller agrees to a different price.

Terms

The listing contract must include any terms the seller and broker agree to, such as the amount of the broker's commission, the items included in the sale, and the duties and obligations of both the broker and the seller.

References

• University of San Francisco: Brokers and Agents
• U.S. Department of Agriculture: Open Real Property Master Listing Agreement

Resources

• Office of Consumer Affairs: Real Estate Brokers and Salespeople Consumer Fact Sheet
• U.S. Department of Agriculture: Open Real Property Master Listing Agreement