A listing agreement is a contract authorizing your Realtor to “list,” or market and sell, your property according to the terms outlined in the agreement.  The terms typically include the length of agreement, commission rates and a listing in the Multiple Listing Service (MLS) – an electronic database of properties for sale that is accessible by consumers and enables your Realtor to cooperate with other Realtors to sell your home. 

There are many factors that are considered in developing a listing agreement.  The process begins with a pre-planning interview at your home. You’ll be asked about your needs and goals in selling including: Why do you want to sell? How soon do you want to sell/move? “What is most important in the sale… price, speed or other?, etc. It also gives your Realtor the opportunity to evaluate your property based on: location, features/recent renovations that can increase resale value, etc. 

Next is the presentation of the listing proposal detailing your Realtor’s analysis of your property as well as a comprehensive description of the marketing strategies that will be implemented to sell your home.  The listing proposal also contains a list of comps (a list of comparable properties that have sold in your area during the last 6 months), the agent’s biography and track record, an outline of the services that will be provided by your Realtor and her/his brokerage firm; an agency disclosure form (details the seller/agent/brokerage firm relationship) and the listing agreement.  Once you’ve reviewed and agreed to the terms, the marketing can begin.