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Difference between revisions of "Selling Your Home"
From Clicklaw Wikibooks
→What to consider in signing a “listing agreement”
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Most listing agreements are standardized forms from the local real estate board. The agent may not have a lot of room to negotiate terms. But there are a few terms to pay particular attention to: | Most listing agreements are standardized forms from the local real estate board. The agent may not have a lot of room to negotiate terms. But there are a few terms to pay particular attention to: | ||
*'''Who the agent is representing''': A real estate agent can be hired as an agent for the seller, as an agent for the buyer, or (as we explain shortly, in very limited circumstances) as an agent for both the seller and the buyer. | *'''Who the agent is representing''': A real estate agent can be hired as an agent for the seller, as an agent for the buyer, or (as we explain shortly, in very limited circumstances) as an agent for both the seller and the buyer. | ||
*'''The length of the agreement'': Many agents prefer that the listing agreement continue for three months, but you can choose to list your home for a shorter period. If your home doesn’t sell within that time, you can either extend the term of the listing agreement or change agents. | *'''The length of the agreement''': Many agents prefer that the listing agreement continue for three months, but you can choose to list your home for a shorter period. If your home doesn’t sell within that time, you can either extend the term of the listing agreement or change agents. | ||
*'''The agent’s pay''': The listing agreement sets the amount of the agent’s pay, or '''commission'''. In BC, commissions can be a flat fee or a percentage of the sale price of the home. We explain these two options shortly. | *'''The agent’s pay''': The listing agreement sets the amount of the agent’s pay, or '''commission'''. In BC, commissions can be a flat fee or a percentage of the sale price of the home. We explain these two options shortly. | ||
