Are you thinking of putting your home on the market? Do you know what things you should be wary of in looking at a listing agreement with a real estate broker?
Is the commission you’re paying based on Gross Sale Price or Net Sale Price? More and more frequently, sellers are having to provide closing credits to the buyers, resulting in a net reduction in proceeds. The listing agreement should reflect that the agent is entitled to the NET proceeds, after considering concessions to the Buyer.
When is a commission owed to the real estate broker? Most listing agreements say that the broker is owed a commission for procuring a ready, willing and able Buyer, whether or not the transaction proceeds. Do you want to be held liable for a commission fee if a transaction falls apart?
Let us review your listing agreement before you sign! From start to finish, PK Boston Law can help you through the sale of your home.