The document discusses listing agreements and buyer representation contracts. It covers the key points that agency contracts are employment contracts for broker services, not property transfer contracts. Listing and buyer representation agreements are fundamental real estate profession documents. Pennsylvania law requires written agreements when a consumer compensates a broker. Required agreement elements include the broker's fee/term, broker services, broker representing multiple parties, and cooperation with other brokers. The document outlines exclusive right to sell, exclusive agency, and open listings. It discusses listing contract forms and the typical information contained within like property details, ownership evidence, broker compensation, and indemnification.
2022 NAR Profile of Home Buyers and SellersTom Blefko
The North Pointe Office of Berkshire Hathaway HomeServices Homesale Realty's sales meeting on March 7, 2023, covering the following topics: 1. VIP vendor Next Door Photos, 2. 2022 North Pointe Award Winners, 3. Upcoming Virtual Training Sessions, 4. Foreclosure Headlines, 5. 2022 NAR Profile of Home Buyers and Sellers.
What to Say to Buyers When They Want to BailTom Blefko
Sales meeting for the North Pointe office of Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. Bright MLS updates effective July 1, 2022, 2. Teamhomesale is now Homesale DRIVE, 3. Utilization of Payload Keybox for escrow deposits, 4. Following ANSI guidelines for measuring square footage, 5. What to say to buyers when they want to bail.
What Does a Recession Mean for the Real Estate Industry?Tom Blefko
Sales meeting for the North Pointe office of Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. NEW Cinch Home Services' home warranty plans, 2. BHHS Awards Criteria, 3. Homesale Listing Packages, 4. Google Drive, 5. Cloze CRM, 6. Ninja Selling installation, 7. What does a recession mean for the real estate industry.
Listing Presentation for Austin Choi
In my practice of real estate, I am well known for one of the most honest and diligent agents, great customer service, consistent communication, strong attention to detail and ensuring a positive experience for all parties in a transaction: buyers, sellers, cooperating agents.
First Time Buyer Specialist (FTBS) |
Seller Representative Specialist (SRS) | Pricing Strategy Advisor (PSA) | Senior Real Estate Specialist (SRES®) | Certified Transaction Coordinator (CTC) | Short Sales and Foreclosure Resource (SFR®)
Real estate investment business plan exampleupmetrics.co
The real estate sector is one of the most profitable sectors to invest in. Many investors swear by it as a bankable source of secondary income. Not just that, the real estate investment market increased from 9.6 trillion dollars in 2019 to 10.5 trillion dollars in 2020. Although it may take time, investment in the housing market can help your money grow. And though the above information invests in the real estate sector a rosy prospect, it can go horribly wrong without a proper business plan and investment strategy. Read on to find out what a business plan can do for your investment business.
2022 NAR Profile of Home Buyers and SellersTom Blefko
The North Pointe Office of Berkshire Hathaway HomeServices Homesale Realty's sales meeting on March 7, 2023, covering the following topics: 1. VIP vendor Next Door Photos, 2. 2022 North Pointe Award Winners, 3. Upcoming Virtual Training Sessions, 4. Foreclosure Headlines, 5. 2022 NAR Profile of Home Buyers and Sellers.
What to Say to Buyers When They Want to BailTom Blefko
Sales meeting for the North Pointe office of Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. Bright MLS updates effective July 1, 2022, 2. Teamhomesale is now Homesale DRIVE, 3. Utilization of Payload Keybox for escrow deposits, 4. Following ANSI guidelines for measuring square footage, 5. What to say to buyers when they want to bail.
What Does a Recession Mean for the Real Estate Industry?Tom Blefko
Sales meeting for the North Pointe office of Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. NEW Cinch Home Services' home warranty plans, 2. BHHS Awards Criteria, 3. Homesale Listing Packages, 4. Google Drive, 5. Cloze CRM, 6. Ninja Selling installation, 7. What does a recession mean for the real estate industry.
Listing Presentation for Austin Choi
In my practice of real estate, I am well known for one of the most honest and diligent agents, great customer service, consistent communication, strong attention to detail and ensuring a positive experience for all parties in a transaction: buyers, sellers, cooperating agents.
First Time Buyer Specialist (FTBS) |
Seller Representative Specialist (SRS) | Pricing Strategy Advisor (PSA) | Senior Real Estate Specialist (SRES®) | Certified Transaction Coordinator (CTC) | Short Sales and Foreclosure Resource (SFR®)
Real estate investment business plan exampleupmetrics.co
The real estate sector is one of the most profitable sectors to invest in. Many investors swear by it as a bankable source of secondary income. Not just that, the real estate investment market increased from 9.6 trillion dollars in 2019 to 10.5 trillion dollars in 2020. Although it may take time, investment in the housing market can help your money grow. And though the above information invests in the real estate sector a rosy prospect, it can go horribly wrong without a proper business plan and investment strategy. Read on to find out what a business plan can do for your investment business.
Massachusetts Continuing Education Course - 2 Credits
An interactive and informative course designed to review the most commonly used forms in a real estate transaction. We will look at federal, state and local forms. We will explore the difference between the laws and regulations and the policies and customs regarding their use.
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
LCAR Unit 17 - Listing Agreements and Buyer Representation Contracts - 14th Edition Revised
1. The Real Estate School
U N I T 1 7
LISTING AGREEMENTS AND BUYER
REPRESENTATION CONTRACTS
1
Page 297
2. OVERVIEW
• Agency contracts are employment contracts for the professional
services of the broker and not contracts for the transfer of real
estate
• Listing and Buyer Representation
agreements are the fundamental
documents of the real estate
profession
2
Page 297-298
3. WRITTEN AGREEMENTS
• Pennsylvania licensing law requires a written agreement between
a broker and a consumer when the consumer is obligated to
compensate the broker
• Important if either party
decides to take legal
action
3
Page 298
4. WRITTEN AGREEMENTS
• Licensing law requires written agreements to contain:
• Broker’s fee and term of contract
• Nature and extent of broker’s services
• Broker may provide services to more than one party
• Policies regarding cooperation with other brokers
• Purpose of the Real Estate Recovery Fund
• Statement regarding possible conflicts of interest
4
Page 298
5. LISTING AGREEMENTS
• Listing agreement is an employment contract between a broker
and a seller where the broker is authorized to represent the
principal as an agent
• All listing agreements must be
in writing to be enforceable
in a court of law
• Listings are the property
of the broker
5
Page 299
6. LISTING AGREEMENTS
• Three Types of Listing Agreements (Figure 17.1)
6
Page 299
ABC
Realty
XYZ
Realty
For Sale
by
Owner
ABC
Realty
For Sale
by
Owner
ABC
Realty
Exclusive
Right-to-Sell
Exclusive
Agency Open Listing
7. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
1. Exclusive Right-to-Sell – One broker is appointed as the sole
agent of the seller
• Seller must compensate the
broker regardless of who sells
the property
• Offers the greatest opportunity
to receive compensation
7
Page 299
Broker
8. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
1. Exclusive Right-to-Sell (cont’d)
• Real Estate Licensing and Registration Act (RELRA) requires a
boldface statement:
“The broker earns a commission on the sale (or lease) of the property,
regardless of who, including the owner, makes the sale (or lease) during
the listing period.”
8
Page 300
9. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
1. Exclusive Right-to-Sell (cont’d)
• Agreement must also contain the following:
• Seller’s asking price
• Broker’s expected commission on the sales price
• Payments held in a broker’s escrow account
• Duration of agreement
9
Page 300
10. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
2. Exclusive Agency – One broker is authorized to act as exclusive
agent; however, the seller
retains the right to sell
the property without
obligation to the
broker
10
Page 300
Broker
Owner
11. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
2. Exclusive Agency (cont’d)
• Broker compensated only if the procuring cause
• Agreement must contain the same provisions as the Exclusive
Right-to-Sell agreement regarding list price, broker’s commission,
escrow account disclosure, and duration
11
Page 300
12. LISTING AGREEMENTS
• Types of Listing Agreements (cont’d)
3. Open Listing (Nonexclusive) – The seller retains the right to
contract with multiple brokers and is only obligated to
compensate the broker who produces a buyer
• Seller is not obligated
to pay a commission
if they sell the property
12
Page 300
Owner Multiple Brokers
13. LISTING AGREEMENTS
• Multiple Listing Service – Clause inserted in an Exclusive Right-
to-Sell listing to make if available to other broker members
• Most MLS’s require brokers to
turn over new listings within a
specific period
• Broker makes a unilateral
offer of compensation
13
Page 300
14. LISTING AGREEMENTS
• Coming Soon Listings
• House needs some
sprucing up
• Agent wants to create
increased demand for
property
• Property may not be
shown while in this status
14
15. LISTING AGREEMENTS
• Office Exclusive Listings
• May be withheld from
the MLS
• May only be advertised
within the brokerage
• May not be advertised
to the public
15
16. LISTING AGREEMENTS
• Net Listing – Seller receives a net amount of money from a
sale with the excess going to the listing broker as commission
• Illegal in many
states including
Pennsylvania
16
Page 301
17. LISTING AGREEMENTS
• Listings may be terminated for the following reasons:
• Agreement’s purpose is fulfilled
• Agreement’s term expires
• Bankruptcy or foreclosure
• Mutual agreement
• Death of broker or seller
• Destruction of property
17
Page 301-302
18. LISTING AGREEMENTS
• Expiration of Listing Period – All listings must specify a definite
period of time during which broker is employed
• Pennsylvania Real Estate
Commission prohibits:
• Listings exceeding 12 months
• Automatic renewal provision
• Cancellation notice to terminate
18
Page 302
19. LISTING AGREEMENTS
• Broker Protection Clause – Provides that the
property owner will pay the listing broker if
the owner transfers the property, within a
specified period after the listing expires, to
someone with whom the broker negotiated
during the term of the listing
19
Page 302
20. THE LISTING PROCESS
• Information Needed for Listing Agreements
20
Page 302-303
• Names of owners
• Street address/Legal description
• Improvements
• Room sizes
• Lot dimensions
• Financing in place
• Seller financing offered
• Pending assessments
• Zoning classification
• Property taxes
• Neighborhood amenities
• Inclusions/Exclusions of personal
property
• Property features
• Required disclosures
21. THE LISTING PROCESS
• Pricing the Property – Licensees
should offer their knowledge,
information, and expertise to
assist seller in setting a
reasonable listing price
21
Page 303
22. THE LISTING PROCESS
• Pricing the Property (cont’d)
• Comparative Market Analysis (CMA) is prepared by licensees
and compares location, size, age, style, and amenities of
properties that are comparable to the seller’s property
• Recently SOLD properties
• Properties currently on the market
• Properties that were listed but did not sell
22
Page 303
24. THE LISTING PROCESS
• Pricing the Property (cont’d)
• Pennsylvania licensing law requires that the following statement
be printed on the 1st page of the CMA:
“This analysis has not been performed in accordance with the
Uniform Standards of Professional Appraisal Practice which
require valuers to act as unbiased, disinterested third parties
with impartiality, objectivity, and independence and without
accommodation of personal interest. It is not to be construed
as an appraisal and may not be used as such for any purpose.”
24
Page 304
25. THE LISTING PROCESS
• Seller’s Return – Licensee should
show the seller roughly how much
will be netted from a given sales
price
25
Page 304
26. THE LISTING PROCESS
• Calculating Sales Prices, Commissions, and Seller Nets
• Commission = Sales Price x Commission Rate
• Sales Price = Commission ÷ Commission Rate
• Commission Rate = Commission ÷ Sales Price
26
Page 305
27. THE LISTING PROCESS
• Real Estate Seller Disclosure Act
– Requires sellers of residential
real properties (1-4 units) who
intend to transfer an interest in a
residential property to disclose
material defects
27
Page 305
Figure 17.2
28. THE LISTING PROCESS
• Material defect is a problem with the property that would have a
significant adverse impact on the value of the property or involves
an unreasonable risk to people on the land
28
Page 316
29. THE LISTING PROCESS
• Both the listing agent and buyer agent should review the Seller’s
Property Disclosure before providing it to a buyer
• Any missing or vague
info should be clarified
29
Page 316
30. THE LISTING PROCESS
• Marketing the Property
• Virtual Staging – Places Photoshop furnishings in a vacant home
in the hopes the home buyer will be better able to picture
their own furniture in
the home
• May not remove
problematic flaws
30
Page 316
31. THE LISTING PROCESS
• Marketing the Property
• MLS – Once a broker enters a property into the MLS, property
info may feed out to various other online platforms
Syndication – Property info that is fed out to other online
platforms
31
Page 316
32. THE LISTING PROCESS
• Marketing the Property
• Technology & Social Media – Must comply with federal, state,
and local rules and regulations
• Agents must also follow the Realtor® Code of Ethics and Practice
regarding use of other broker’s listings and interacting with other
brokers
32
Page 316
33. THE LISTING CONTRACT FORM
33
Page 318
• A variety of listing contract forms are
available
• The same considerations arise in most real
estate transactions which means that most
listing contracts require similar information
• Most Brokers use an Exclusive Right to Sell
Listing Agreement
Figure 17.3
34. THE LISTING CONTRACT FORM
• Broker’s Authority and Responsibilities – Lists what marketing
activities can be performed and discloses responsibility for
accepting and holding funds
34
Page 318
35. THE LISTING CONTRACT FORM
• Names of Parties to the Contract – Lists anyone who has an
ownership interest in the property
• Brokerage Firm – The brokerage company and salesperson’s name
must be identified
35
Page 318
36. THE LISTING CONTRACT FORM
• Listing Price – The proposed sales price
• Seller proceeds will be reduced by outstanding obligations
36
Page 325
37. THE LISTING CONTRACT FORM
• Description of the Premises – Street address or other defining
description
• Real Property vs. Personal
Property – Defines what is
included and excluded in
the listing
37
Page 325
38. THE LISTING CONTRACT FORM
• Evidence of Ownership – Owner should provide proof
• Encumbrances – Affecting the use or transfer of property; could be
physical or financial
38
Page 325
39. THE LISTING CONTRACT FORM
• Broker Compensation – Specifically stated
• Fee can be a percentage of sales price or flat fee
39
Page 325
ABC Realty
Commission
Ten Thousand & - - - - - - - 00/100
01/01/2021
$10,000
40. THE LISTING CONTRACT FORM
• Indemnification (Hold Harmless) – For any incorrect information
provided by either party
• Leased Equipment – Seller
is responsible for notifying
lessor of the change of
property ownership
40
Page 325
41. THE LISTING CONTRACT FORM
• Closing and Buyer’s Possession Dates – Based on seller
preferences
• Closing – Identifies who will be handling the closing and paperwork
41
Page 325-326
42. THE LISTING CONTRACT FORM
• Home Warranty – Option for the seller to obtain one to make their
listing more attractive
42
Page 326
43. THE LISTING CONTRACT FORM
• Termination of Contract – Provides and specifies ways for the
agreement to be terminated
• Broker Protection Clause –
Broker may be entitled to a
commission after the listing
expires
43
Page 326
44. THE LISTING CONTRACT FORM
• Owner Warranties – Owner is responsible for
certain assurances and disclosures about the
real estate
44
Page 326
45. THE LISTING CONTRACT FORM
• Nondiscrimination – Property will be shown and offered to any
person according to the law
• Antitrust Wording – States that
commissions were negotiated
45
Page 326
46. THE LISTING CONTRACT FORM
• Signatures and Dates – Owners authorization and starting date of
agreement
46
Page 327
47. THE LISTING CONTRACT FORM
• Real Estate Recovery Fund –
Required statement that
briefly explains the purpose
and intent of fund
47
Page 327
48. THE LISTING CONTRACT FORM
• Lead-Based Paint Disclosure – If property was built before 1978
• Other Disclosures Required
by Law – Short sales, historic
districts, trust or preserves, etc.
48
Page 327
49. BUYER AGENCY AGREEMENTS
• An employment contract between a buyer
and broker
• Purpose is to find a suitable property that
meets the buyer’s needs
• Buyer agency agreements belong to the
broker not the salesperson
49
Page 327
Figure 17.4
50. BUYER AGENCY AGREEMENTS
• Buyer Representation Issues
• Before any substantive issues can be discussed with the buyer,
the licensee must provide the Consumer Notice
50
Page 331
51. BUYER AGENCY AGREEMENTS
• Buyer Representation Issues (cont’d)
• Compensation can be paid in a variety of ways:
• Flat Fee for Service
• Hourly Rate
• Percentage of Purchase Price
• Retainer Fee – Charged at time of
agreement to cover initial expenses
51
Page 331
52. BUYER AGENCY AGREEMENTS
• Buyer Representation Issues (cont’d)
• Buyer’s Agents are usually compensated by sharing the
commission paid by the seller
• The source of compensation
does not determine who the
agent represents
52
Page 331
53. BUYER AGENCY AGREEMENTS
• Pricing the Property
• Buyer’s agents should prepare a Comparative Market
Analysis (CMA) to assist buyer in making an offer
53
Page 331
55. BUYER AGENCY AGREEMENTS
• Types of Buyer Agency Agreements
1. Exclusive Buyer Agency – The buyer is legally bound to
compensate the broker if the
buyer purchases a property
• Agent gets paid regardless of
whether the broker, buyer, or
another licensee locates the
property
55
Page 331
Broker
56. • Types of Buyer Agency Agreements (cont’d)
2. Exclusive Agency Buyer Agency – Broker is entitled to
compensation only if they
locate the property the
buyer purchases
• Buyer retains right to
find property and
withhold compensation
from broker
Broker
Buyer
BUYER AGENCY AGREEMENTS
56
Page 331-332 56
57. BUYER AGENCY AGREEMENTS
• Types of Buyer Agency Agreements (cont’d)
3. Nonexclusive Buyer Agency – Contract that permits the buyer
to enter into similar agreements with an unlimited number of
brokers
• Buyer is only obligated to
compensate the broker
who locates the property
57
Page 332
Multiple
Brokers
Buyer
58. BUYER AGENCY AGREEMENTS
• Gathering Information
58
Page 332
• Names of buyers
• Type of property desired
• Geographic areas
• Price range
• Term of contract
• Scope of work
• Exclusive or Nonexclusive
• Source of compensation
• Dual agency
• Financial terms
• Sales agreement terms
59. BUYER AGENCY AGREEMENTS
• Exclusive Buyer Agency agreements contain the following terms:
59
Page 332-333
• Type of agency relationship
• Term of the contract
• Brokerage fee
• Property requirements
• Broker protection clause
• Provision for Designated Agency
• Provision for assignment of
contract by broker
• Signatures of parties
• Disclosures relating to conflict of
interest
• Nondiscrimination
• Other required disclosures