Use of An Open Listing To Sell A Residence As Fast As Possible

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Most people don’t know that the usual real estate listing agreement you receive from a real estate agent when you’re listing your house is an Exclusive Listing Agreement. This is a specific legal agreement guaranteeing your agent a commission upon the sale of your home. And this listing agreement is favored by agents in order to earn their living selling real estate, which is perfectly appropriate. But sometimes I use a different listing agreement when I want to sell my house quickly.

The other listing agreement I use on occasion is called an Open Listing, and I sometimes use it when I want to sell my house quickly because it gives me more flexibility. I like to use open listings because by the terms of this listing agreement I pay an agent only when he or she provides the buyer, which means I don’t have to pay an agent if I find my buyer close the sale on my own. Since I have bought and sold many houses over the years, I already know the process well. Any seller who hasn’t sold a home before is probably not going to find the process quite as easy before learning the ropes. But it’s another option to consider, meaning, you can find your buyer yourself and then hire professionals to close the transaction for you.

If you have any prior experience selling a house you may be especially interested in learning how I manage to sell my house quickly using an Open Listing Agreement. You are ready follow my lead if you have some confidence in finding a buyer yourself, and also choose to get professional help closing your sale.

Normally I contact three real estate agents that I’ve worked in the past and who have worked out well for me. I ask each of them if anybody on their buyer’s list is looking for a house like mine, after describing my house in detail and sending them some photos. The agent who has one or more potential buyers may be interested in signing an Open Listing Agreement with me in order to show my house to those buyers. This can be a very effective way to sell my home quickly, and it works out for the buyers and the agent as well. It can really save time in the marketing phase.

Having one or more agents sign an Open Listing Agreement can work out well for everyone involved in the transaction. Basically, when an agent signs an Open Listing with me he or she has agreed to show my house at least once, which cannot hurt my own marketing efforts. And I can use an Open Listing Agreement to sell my home quickly with several agents at the same time.

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Topics: Real Estate | Comments Off

Tags: agent, broker, investor, Real Estate, realtor, Sell a home, sell a home fast, sell a house, sell my house

Article Citation
MLA Style Citation:
Kingston, Leo "Use of An Open Listing To Sell A Residence As Fast As Possible." Use of An Open Listing To Sell A Residence As Fast As Possible. 9 Feb. 2012. uberarticles.com. 8 Apr 2012 <http://uberarticles.com/real-estate/use-of-an-open-listing-to-sell-a-residence-as-fast-as-possible/>.

APA Style Citation:
Kingston, L (2012, February 9). Use of An Open Listing To Sell A Residence As Fast As Possible. Retrieved April 8, 2012, from http://uberarticles.com/real-estate/use-of-an-open-listing-to-sell-a-residence-as-fast-as-possible/

Chicago Style Citation:
Kingston, Leo "Use of An Open Listing To Sell A Residence As Fast As Possible" uberarticles.com. http://uberarticles.com/real-estate/use-of-an-open-listing-to-sell-a-residence-as-fast-as-possible/

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