As a general rule, the listing contract also includes a list price for the property and an expiry date until the contract expires. However, if the property is sold at a lower or higher price, the seller pays a commission of a proportionally lower or higher amount. If the seller does not accept a price below the list price, the broker will have to wait for a satisfactory sale to win the commission. A listing contract (or listing agreement) is a contract between a real estate agent and a real estate owner that gives the broker the power to act as a broker when selling the property.  If the seller refuses to sell the property when one of the two conditions above applies, it is generally considered that the real estate agent has made his duty to find a satisfactory buyer and the seller still has to pay the commission, although the details are determined by the listing contract. To the extent that the conclusion (or «billing» or «proximity to the fiduciary transaction,» as it is called in some parts of the country) is not a condition of the listing agreement, the buyer`s failure to close the transaction may not require the seller to pay a commission to the broker. In addition, other conditions that may appear in the agreement may include: Listing a property usually entails certain expenses for the listing broker and takes time and effort for the stockbroker. To make it interesting, they want to have some minimum list period to have a good chance of selling the property. However, the listing contract must have an expiry date. A typical reference period is often three to six months.
If the property is not sold by then or as part of a sales contract, the seller may decide to reinvent or not list the property, possibly with a different list price, with the same broker or another agent or agent. The list of the property may start at a later date on the date the listing contract was signed, to give the seller time to prepare the property for demonstration or sale. If several offers are made, the seller can accept the offer that suits him best, even if the price is not the highest. The commission percentage is paid based on the accepted price. The seller may accept, often in agreement with the real estate agent, an offer that, for various reasons, is less than the highest offer, such as conditions or contingencies in the offered sales contract or perceived differences in the financial qualification of competing buyers. As a general rule, there are separate listing agreements for the sale of real estate, land and commercial or commercial property.  [Clarification necessary] When listing the property, the real estate agency tries to get a buyer for the property, and accounts for the successful search for a satisfactory buyer, the broker expects to receive a commission (fee) for the services provided by the broker.