St. Charles Home Sales Contracts

For contracts and commission advice, trust the real estate agents of St. Charles Discovery Crew. We know home sales inside and out. Once you've selected an agent, you will be asked to sign a listing agreement or contract. Make sure all the terms are in writing.

The agreement should include the terms of sale you will offer for your home (like the asking price), your brokerage arrangements (what the broker will do for you and how much you will pay the broker), and a start and end date of the contract.


The Real Estate Contract

To make it s simple as possible, here are the basic terms when getting an agent to sell your house:
  • A listing contract is a personal service contract between you and a licensed real estate broker.
  • The contract authorizes the broker to act as your agent by doing his or her best to find a buyer for your home.
  • In return for selling your home, you promise to pay the broker a commissions definition.
St. Charles Home Negotiating on Purchase Doesn't sound too hard right? Well there is much more to it, but that is for us to know. We'd be happy to walk you through as much as as little of the legel stuff as you'd like. We are here to serve you and we promise to do that to the best of our ability.


Types of Listings

The most popular type of listing is the exlusive listing. This gives only one agent at a time the right to sell your home. This is also the most popular with sellers and brokers.

An open listing in where any broker can find a buyer for your home. Obviously, this has less advantages for agents. For more on real estate contracts, read this Wikipedia article on contracts and more.


Real Estate Agent's Commission

Commission on the sale of your home is how an agent makes his living. While the actual sale of the home (paperwork) may not take but a few hours, the leg work, research, licensing, travel, time and efforts that go into getting to that point can add up. For this, a typical selling agent makes anywhere from 2% to 4%.

The buyer's agent will make anywhere from 2% to 3%. Roughly, you can assume that you will have to pay out 6% of the sale of your home to an agent or agents.

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