There are several standard features of a listing contract. One of the main things the contract will indicate is that your agent is the “listing” agent, that, in fact, he is working for you and for your best interests. The contract should also specify whether your agent will be free to act as an agent on other transactions. In other words, he may be the listing agent or buyer’s agent for numerous properties.
In addition, the contract should include the following information:
The name of the seller(s)
The address of the property to be sold
The selling price of the property
The length of the contract
Whether or not the property will be listed on the Multiple Listing Service (MLS)
The amount of real estate commission to be paid to your listing agent
Personal property (not attached to the house), indicating that which will be staying and that which you will be taking with you
Any real property (attached to the house) that you plan to move out of the house
A properly written and signed contract is imperative for the smooth sale of your home. A reputable real estate professional will have the proper contract forms prepared for you to sign, so that you feel comfortable with the listing of your property. If there is anything in the contract that you don’t understand, be sure to ask your agent for clarification. Now is the time to be open and assertive, as you discuss and prepare for the sale of your home.