Preparation and registering for the real estate exam is necessary to become a licensed real estate agent. Every country need professional and registered real estate agents to have a license and to take and pass the real estate examination to get that license. You need to cover a lot of ground in preparation for the test, but your efforts are well rewarded by a fun, exciting career.
As you are preparing for your real estate license exam, you need to understand that listing agreement set up the relationship between the real estate agent and the property seller. Remember that similar agreements may be used between a buyer and an agent when buyer representation is desired.
4 Types of Real Estate Listing Agreements for Real Estate Agents
Exclusive right to sell listing: In this agreement, the agent gets paid no matter who sells the property, regardless of whether it’s the agent or the seller.
Exclusive agency listing: Agents get paid in this type of agreement only if they sell the property. No fee is earned if the owner alone sells the property.
Open listing: In this type of agreement, sellers have the right to use as many brokers as they want. However, the seller isn’t obligated to pay any of them if he or she sells the property without the broker’s help.
Net listing: This type of agreement may be illegal in your state. The agent gets to keep everything he can get that’s more than the sale price the owner wants.
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