What are the different listing agreements used to sell property in Florida
What are the different listing agreements used to sell property in Florida? If you are an agent reading this, call me as you need a new Broker. If you’re thinking selling your house is easy, it’s not. Call me Chris 561.818.3858
As of August 2024 there is a new version of the “satndard” Exlcusive Right of Sale listing agreement…
Note in this there are now 3 options in regards to paying a Broker for the Buyer. 1) There a total compensation paid from the Seller to their Broker with a specified amount to be paid FROM the Broker for the Seller to a Broker for the Buyer. 2) There a compensation paid from the Seller to their Broker AND a specified amount to be paid FROM the Seller to a Broker for the Buyer. or 3) No offer of compensation to any Broker for the Buyer.
EX Rt (Exclusive Right to Sell): Participant (Listing Broker) is granted the exclusive right to earn a commission by representing the owner and bringing a buyer either through another brokerage or directly. The owner pays both the listing and selling broker fees. The owner is prohibited from selling the subject property him/herself without paying a commission to the listing broker.
EX BRK (Exclusive Brokerage aka Exclusive Agency): Allows the owner to sell the subject property. Owner is unrepresented and therefore is responsible for paying the commission to only the buyer’s representative
EX Rt w/EX (Exclusive Right to Sell with Exceptions): Participant (Listing Broker) is granted the exclusive right to earn a commission by representing the owner and bringing a buyer either through another brokerage or directly. The owner pays both the listing and buyer’s representative commissions. The owner is prohibited from selling the subject property him/herself without paying a commission to the listing broker unless an exception is indicated in the listing agreement. The term “Exception” normally refers to the list broker allowing an individual who has expressed interest in the property “X” number of days to produce a contract directly with the owner without the owner owing a commission to the list broker.
EX BRK w/Ex (Exclusive Brokerage aka Exclusive Agency with Exceptions): Allows the owner to sell the subject property. Owner is unrepresented and therefore is responsible for paying the commission to only the buyer’s representative. Exceptions are indicated in the listing agreement. The term “Exception” normally refers to the list broker allowing an individual who has expressed interest in the property a specified number of days to produce a contract directly with the owner without the owner owing a commission to the list broker.
EX Rt w/Limit Svc (Exclusive Right to Sell with Limited Service): Participant (Listing Broker) is granted the exclusive right to earn a commission by representing the owner and bringing a buyer either through another brokerage or directly. The owner pays both the listing and selling broker fees. The owner is prohibited from selling the subject property his/herself without paying a commission to the listing broker. The limitations of service are defined in the listing Agreement.
EX BRK w/Limit Svc (Exclusive Brokerage aka Exclusive Agency with Limited Service): Allows the owner to sell the subject property. Owner is unrepresented and therefore is responsible for paying the commission to only the buyer’s representative. Limitations of Service are defined in the listing agreement.
The exclusive Right of Sale at a Transactional Broker is by far the most widely used listing agreement. Basically it states that if the property is sold by anyone during the term of the listing agreement then a commission is due to the listing brokerage. If it sells to a party after the agreement has expired but within the ‘Protection Period’ then a commission is due to the listing brokerage.
Exclusive Right of Sale with Exclusions – Same as above HOWEVER, there are parties excluded from the agreement. So let’s say an owner is speaking to a neighbor about buying the property but they want to list it while the neighbor is ‘thinking about it.’ This same basic agreement is the one to use BUT in the additional terms section certain people are excluded.
Similar to the Exclusive Right of Sale again HOWEVER in this instance the brokerage and Seller agree to a set of limited services. The broker enters the data into the MLS but typically all the data collection (pictures, room sizes etc.) and interaction with the Buyer and their agent is done by the Seller. The Owner will take pictures, provide data for the MLS input by the Broker, schedule and show the property, negotiate directly with the cooperating agent and see the sale through to a close.
This is similar to an exclusive right to sell EXCEPT the listing agreement only applies IF there is a cooperating agent who sells the property. The Owner is free to advertise it and attempt to sell it on their own and should they be successful they would not pay a commission.
Exclusive Brokerage with Limited Services – Again, similar to the Exclusive Brokerage BUT the Broker and Seller agree to a limited form of services from the Broker.
Questions? Give us a call at the office (561.626.8550) or use the Contact Us form to email us.
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For over twenty years now R& R Realty has been helping customers buy and sell Palm Beach homes. Northern Palm Beach County is a spectacular place to live and we know every inch of it. Generally considered the end of the sub tropical zone, the Gulf Steam waters temper our climate for warm winters making for an amazing life style filled with boats, beaches, shoping, golf & convenience just 15 minutes from the Palm Beach Airport. Feel free to browse our website for more information on Palm Beach homes for sale and real estate listings including great local neighborhood maps of Juno Beach, Jupiter, Palm Beach Gardens, Singer Island and Jupiter Island. You may choose to search for Palm Beach Homes for sale on your own at first or contact us and we will help tailor a search to your specific needs. We look forward to hearing from you! If you have any questions about property for sale in Palm Beach, please call me, Chris Ryder, the owner, directly on my cell phone at (561) 818-3858.
About Chris Ryder
I am the Broker/owner of R&R Realty In Juno Beach Florida.
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Nicole Ryder is amazing. Her expertise and knowledge in real estate shines through in many ways. Nicole knows the market, is extremely responsive, knows exactly what listings to present, and an exceptional communicator! Nicole has done an outstanding job at answering all my questions (and I’ve had a lot), keeping us informed of market changes and proactive in bringing us new ideas and listings. Highly recommend, Nicole Ryder. Can’t ask for a better experience. 10/10 ⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
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2023-10-09
I highly recommend R & R Realty. Chris worked with me to over a period of years to find what I wanted. He always responded quickly to my phone calls or texts. Chris always pointed out all the positives of a property but also possible negatives or things I hadn't thought of. It was a pleasure working with him.
Chris and Nicole Ryder are true professionals! They both helped my husband and I find our apartment when we were new to South Florida and were an excellent source of information about the Palm Beach Gardens/Juno Beach/Jupiter area. When we decided to buy a property two years later, we came back to R&
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Chris Ryder was a fantastic realtor! Thorough start to finish! Helped us buy our first property here 8 years ago sold it for us and helped us buy a second. Will most definitely be calling him again in the future.
Nicole Ryder (and Chris) provided excellent service throughout entire process of listing and selling condo in Juno Beach. Nicole was very helpful and always acted in our best interest re listing details, setting viewing appointments, responding to offers and assisting with closing requirements. We most appreciated their local knowledge and support re Florida real estate transaction requirements being non Florida residents. (Canada) We would highly recommend R&R Realty!
Chris is the very best realtor I have ever worked with anywhere in the country, by a long shot! Being from out of state, he spent countless hours previewing property, had a clear understanding what I was looking for, has the knowledge of an engineer/architect in evaluating structures plus is very familiar with the area. He is very patient, and never "sells" A true rare professional.
I have used R&R Realty, The house Cris found for us is amazing. Cris definitely knows his business. No fooling around and gets the job done. I would definitely use Cris for further purchase. Thanks,Hugh
If you're looking for an exceptional, results oriented, knowledgeable, one of a kind real estate agent that delivers on all accounts then Chris Ryder of R & R Realty in Juno Beach, Florida is your go to resource for all things real estate on the Treasure Coast. From a structural engineering background and to an understanding of Florida real estate law to a hands on knowledge of market trends and property values Chris has the answer. Whether your interest is in selling or buying a condo, town house, private home, penthouse or anything in between, Chris can get the job done. In our case he worked his magic in securing the purchase of our condo in Juno Beach which was a difficult, complex transaction involving a short sale along with the added complication of an estate sale. His unique combination of abilities and skills coupled with his experience resulted in a successful transaction which benefited all parties. You won't be disappointed.
Ronald Johanson
2016-07-08
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2016-07-07
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2016-06-30
Florida Association Realtors
- Average 30-Year Mortgage Rate Falls to 6.09% September 19, 2024
The average long-term rate fell to 6.09% from 6.20% last week and 7.19% a year ago, Freddie Mac said. Borrowing costs on 15-year fixed-rate mortgages fell to 5.15%.
Today’s webinar will cover the new flood disclosure and condo laws that take effect on Oct. 1, and Florida Realtors’ new and updated forms regarding these changes.
The inventory of unsold existing homes improved by 0.7% from the previous month to 1.35 million at the end of August, or the equivalent of 4.2 months’ supply.
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