RE/MAX Champlain Valley Properties

Types of Listing Agreements Defined: (Sellers)

Exclusive Right to Sell
This is the most common and all-inclusive type of listing agreement. Owner lists the property with one brokerage firm, who retains the exclusive right to sell and market the property for an agreed upon period of time. The listing agreement is usually submitted to the MLS within 48 hours with the owner's permission. The listing Broker will be paid a commission regardless of the source of or the purchaser, a stronger emphasis will be placed on marketing the property. The sales commission charged by RE/MAX Champlain Valley Properties is negotiated between the owner and broker for each type of listing.

Exclusive Agency Listing
Owner lists property with only one Broker and owner retains right to sell property without the broker. RE/MAX Champlain Valley Properties will advertise an Exclusive Agency listing, but the extent of the advertising and marketing effort will be less than with an Exclusive Right to Sell listing. An Exclusive Agency listing may be placed in the MLS at the discretion of the Broker. It is extremely important to have good communication between the owner and Broker so efforts to sell the property are not duplicated.

Open Listing
Owner lists with an unlimited number of brokers. Commission is paid to the broker who sells the property. Owner also retains right to sell property without a broker. An Open Listing is not eligible for listing with the Multiple Listing Service (MLS) and RE/MAX Champlain Valley Properties generally will not advertise open listings.

Representation of Buyers:

Buyers of real estate may also obtain their own representation by a real estate agent. By entering into a written signed buyer service agreement with a real estate brokerage firm, you authorize the agent to act on your behalf in locating, assisting, and negotiating the purchase of a property. The buyer service agreement sets forth the terms and conditions of your relationship with the brokerage firm you have selected to act as your agent. It also sets forth the compensation arrangement. In Addison County the majority of sellers agree to pay a buyer's agent commission or an agreement is reached with the seller. If this is not the case the buyer is responsible for payment of the fee.