If your home is eligible, we’ll provide a cash offer, and if you decide to sell, you’ll never have to put your home on the market or hire a listing agent. Real Estate Glossary There is a lot of real estate terminology used during the home buying and selling process and CENTURY 21® is here to help you understand those terms. The name has to be included in the contract before signing, and it must be something that was in the works before listing. Common examples include. In this section, you confirm that you are the home’s owner, you have the right to sell the house and you’re legally allowed to transfer the title. Home Buyers Reveal: 'What I Wish I Had Known Before Buying My First Home', Selling Your Home? Don't Neglect These 6 Maintenance Tasks—or Else, Debunked! Understanding Real Estate Lingo: What do All Those Listing Terms Really Mean? In this arrangement, all offers go through the listing agent, which protects the agent from losing time and money on a deal that they won’t receive any commission for. The whole process happens without a listing agent, sort of like a for sale by owner (FSBO) transaction. Listing exclusion : A clause included in the listing agreement when the seller (transferee) lists his or her property with a broker. The status will show as pending until the closing. A property that has come back on the market after a pending sale. The property is sold and no longer available. Exclusive Right to Sell Listing. It says that if one of those past buyers comes back after the contract expires and wants to buy the home, the listing agent is still due their commission, within a specified time frame. It says that the listing agent has the exclusive right to earn the commission if they bring the buyer (either directly or via another agent). Whether you owe your agent a commission depends on the type of listing agreement that is in place — more on that later. Listings of homes for sale and for rent, News about Boston and New England real estate markets, Open House schedules, Local perspective. A real estate agent listing agreement is a contract between a buyer or seller that defines the terms of an agency relationship between the parties. Back This can include disagreements over listing price or marketing strategies. Impeccable. These contingencies fall away as tasks are completed, says Melanie Atkinson, a Realtor® with Coldwell Banker Residential Real Estate in Tampa, FL. 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