Texas Residential Real Estate Listing Agreement

You can complete the addition to the designated exclusions of the listing (TAR 1402) and add them to your listing agreement to clarify your rights and the rights and obligations of the owner if the owner sells to that party for the specified period. The protection period is completely extinguished if the seller concludes a new reference contract with another broker – you do not need to wait for the end of the protection period. Paragraph 5.G – Fiduciary Authorization. The title company in Texas will be the one that collects the buyer`s money (or normally its lender`s money) and pays the seller. This paragraph allows the title company to pay the listing agent directly from these funds – you don`t have to write a personal check to your agent after closing. Paragraph 3 – List price. Most of the time, it`s self-explaining. This is the price for which you advertise for the house. That doesn`t mean it`s what a buyer will offer or what the final price will be, but it`s your starting point. Check out my guide for more information on how I recommend choosing a good list price (usually closer to the fair market value of your home). The Texas Listing Agreement is a legal document executed by a real estate owner and a real estate agent, with the broker having the power to sell or lease the owner`s property for a commission. The contract form must describe the property and its location, the list price, the obligations of the broker and seller, the broker`s remuneration and the expiry date. A seller and broker most often enter into an exclusive listing agreement that gives the broker the exclusive power to sell the property on behalf of the owner.

Alternatively, the broker may accept an open listing agreement (also known as a “non-exclusive” agreement) that allows the owner to use multiple real estate agents for the sale of the property and pay only one commission to the successful broker. Yes. MLS rules state that sales of listed real estate, including sale prices, are immediately reported to the MLS by stockbrokers. . . .