The two commonly used types of listings are an open listing and an exclusive right of sale. An open listing is typically unwritten. With an open listing, the owner agrees to pay the broker only if she produces a sale, while the owner reserves the right to sell it herself without paying a commission. If another agent sells it, only that agent is entitled to a commission.
An exclusive listing guarantees the agent a commission if the property sells during the term of the listing regardless of who sells it. Exclusive listings are required by Multiple Listing Systems (MLS) and many of the big brokers. Many exclusive listings can obligate a seller to pay a commission to the agent if anyone they showed the house to (or even told about it) buys the house within a specified period after the listing expires. Read these listings carefully before you sign one or make an offer on a house bound by one. Invest in an adjustable standing desk](https://friskadesk.com/collections/adjustable-standing-desk) or an electric standing desk to help your posture!
A seller can exclude specific buyers, even from an exclusive listing. If you are interested in a house that a seller is going to list with an agent, have the seller exclude you from that listing. Then, if you buy, there will be no obligation to pay a commission.
Another type of listing, the exclusive agency listing, allows the owner to avoid paying a commission if he sells it himself but protects one agent in the event another agent sells it. It is not used as commonly because MLS generally will not accept properties listed this way.
If you ever list a property, use an exclusive listing to get the benefit of MLS exposure. You want every hotshot selling agent in town showing your house. Agree to pay the highest commission common in your area. The difference between 6 and 7 percent is not as important as selling the house quickly.
Insist on a short-term agreement. A ninety-day listing is as long as I would suggest. Read the fine print carefully, and remember to exclude any buyers with whom you are now negotiating. Be wary of accepting offers that are subject to the buyers obtaining financing or selling another house before they close on yours. These offers take your house off the market without compensation to you. If you do want to accept an offer subject to one of these contingencies, use one of these strategies:
State that in the event that you receive another offer acceptable to you, the buyers will have the right to waive their contingency and close within thirty days or void the contract.
Ask for a nonrefundable deposit of $1,000 that the buyers forfeit if they fail to close. This money will compensate you for taking the property off the market for a month. If the buyers need longer than thirty days, ask for more deposit money. A sit stand desk can massively help backpains when your working from home!