While the seller is not limited to a price determined by a competitive market analysis or even a formal valuation, the broker will have little interest in selling a property with a much higher price. A price that is too high will be difficult or impossible to sell before the listing contract expires, and brokers, like most people, do not want to work for nothing. Note: These definitions are provided to make it easier to categorize lists in MLS compilations. In any area of conflict or inconsistency, priority is given to the law or regulation of the state. If national law allows brokers to list real estate on an exclusive or open basis without establishing an agency relationship, listings should not be excluded from MLS compilations, as the listing broker is not the seller`s agent. (Adopted 11/93, modified 5/06) M If a saleswoman accepts an exclusive offer, she orders her listing agent not to use MLS® to help sell her home. Only your listing agent/broker can call on a buyer and your offer does not appear on Realtor.ca. In other words, it gives its listing agent the exclusive right to sell its home. Most states require that list agreements be written down and generally based on standardized forms. In British Columbia, the two most common types of listing are: There is no exclusivity for an open list – any number of brokers or agents can represent the seller. The commission will be paid to whom a buyer will be paid for the property. If the seller sells it himself, he does not have to pay a commission.
A non-exclusive offer agreement means that your offer will be published on the MLS system and that other agents will have the opportunity to bring potential buyers home. The advantage of this type of layout is the exposure of your home. Your offer is syndicated on various sites, including remax.ca, which allows potential buyers and agents to view your home. Non-exclusive listings are the most common type of agreements in the Canadian real estate market.