Exclusive Agency Registration: A contractual agreement under which the listing broker acts as the legally recognized agent or non-agency representative of the seller (the seller) and the seller agrees to pay a commission to the listing broker if the property is sold through the efforts of a real estate agent. If the property is sold solely through the seller`s efforts, the seller is not obligated to pay a commission to the listing broker. (Amended on 5/06) What are the different listing contracts used to sell real estate in Florida? This is similar to an exclusive right of sale, EXCEPT that the listing agreement only applies if there is a cooperating agent who sells the property. The owner is free to promote it and try to sell it himself, and if he succeeded, he would not pay a commission. Note: These definitions are provided to facilitate the categorization of entries in MLS compilations. In any area of conflict or inconsistency, the laws or regulations of the State take precedence. While state law allows brokers to list properties exclusively or openly without establishing an agency relationship, listings cannot be excluded from MLS compilations because the listing broker is not the seller`s agent. (adopted on 11/93, amended on 5/06) M Similar to the exclusive right to resell BUT in this case, the broker and seller agree on a number of limited services. The broker enters the data into the MLS, but usually all data collection (images, room sizes, etc.) and interaction with the buyer and his agent is done by the seller. The owner will take photos, provide data for MLS entry by the broker, plan and show the property, negotiate directly with the cooperating agent and accompany the sale to the conclusion.
The exclusive right of sale with a transactional broker is by far the most widely used registration contract. Basically, it states that if the property is sold by someone during the term of the listing contract, a commission is due for listing brokerage. If it is sold to a party after the agreement expires, but within the “protection period”, a commission is due to the brokerage. Exclusive right to sell with exclusions – As above, however, some parties are excluded from the agreement. So suppose a landlord talks to a neighbor about buying the property, but wants to list it while the neighbor “thinks about it.” The same basic agreement is the one to be used, BUT in the “Additional Terms” section, some people are excluded. (Amended on 5/06) Exclusive brokerage with limited services – Again similar to exclusive brokerage, BUT the broker and seller agree on a limited form of broker services. I am the broker/owner of R&R Realty in Juno Beach, Florida. Ask? Call us at the office (561.626.8550) or use the contact form to send us an email. .