Kim Mullan Blog
The Listing Agreement - What Buyers Need to Know
1- The terms of a listing agreement are completely confidential between the listing brokerage and the vendor.
2- A buyer should not assume anything about that contract, terms, commission rates etc. as every agent runs an independent business model and there are no standard terms in our industry.
3- If there is any benefit to the seller in the terms of the contract...the benefit is to the seller.
4- A buyer cannot alter the terms of a confidential agreement to which they are not a party.
5- If no other agent is involved in the transaction a buyer must still choose between being treated as a client or a customer.
6- The difference between being a client or a customer only defines the level of care you receive during the course of a real estate transaction in terms of confidentiality, the agent's liability, the right to guidance and advice. This has no bearing on commission structures or a buyers ability to impact the confidential terms of a listing agreement.