• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Accessibility Statement

Follow Us on FacebookFollow Us on TwitterFollow Us on InstagramFollow Us on YouTubeRSS Feed

Kimberly Howell Properties

San Antonio Real Estate

office@kimberlyhowell.com
(210) 493-6888
  • Blog
  • About Us
  • Agents
  • Buyers
    • Neighborhoods
    • Relocation Information
  • Sellers
  • Listings
    • Available Rentals
    • Homes for Sale
    • McNair Custom Homes
    • Open Houses
  • Contact
  • Rental SearchHomes for Rent
  • REALTORS®Find an Agent
  • McNair Custom HomesNew Construction
  • Property SearchHomes for Sale
You are here: Home / Sell Your Home / Residential Listing Agreement: Listing Your Home for Sale Part III

Residential Listing Agreement: Listing Your Home for Sale Part III

April 24, 2014 by khproperties Leave a Comment

12818 Falcon Ledge - San Antonio 78259

A Closer Look at the Listing Agreement Part III

We’re almost finished with our look through the Residential Real Estate Listing Agreement Exclusive Right to Sell, with today covering the last few sections. If you missed the previous posts, you can read “Listing Your Home for Sale Part I” and “Listing Your Home for Sale Part II” to catch up with the first two sections of the listing agreement. Once you’ve read those, head back here for our final installment of the breakdown.

Paragraph 17. Mediation We encourage mediation whenever possible and this paragraph sets that up. Both parties agree to mediate any disputes first and will share the costs associated with it.

Paragraph 18. Attorney’s Fees If any dispute does go further than mediation and lawyers get involved, the party who wins the case is entitled to recover their legal fees from the other party.

Paragraph 19. Addenda and Other Documents This is a checklist of other forms that may be attached to the listing agreement and become part of the contract between broker and seller.

Paragraph 20. Agreement of Parties A bit more housekeeping to define some specific aspects of the listing agreement.

Paragraph 21. Additional Notices There is a reason this section is printed in bold. These are all items that are important to take note of, so let’s cover them one by one:

  • A. Broker’s compensation or the sharing of compensation between brokers is not fixed, controlled, recommended, suggested, or maintained by the Association of REALTORS&reg, MLS, or any listing service. This means that commissions are negotiable and are not set at the Association or MLS level.
  • B. In accordance with fair housing laws and the National Association of REALTORS® Code of Ethics, Broker’s services must be provided and the Property must be shown and made available to all persons without regard to race, color, religion, national origin, sex, disability, familial status, sexual orientation, or gender identity. Local ordinances may provide for additional protected classes (for example, creed, status as a student, marital status, or age). This covers discrimination under both fair housing laws and NAR’s Code of Ethics, which provides additional protections outside the national law.
  • C. Broker advises Seller to contact any mortgage lender or other lien holder to obtain information regarding payoff amounts for any existing mortgages or liens on the Property. It is crucial that a seller knows what they might owe on the property – that can change what they make (or lose) on a property. Often, the final payoff number is not exactly what someone thinks they owe on the property and can cause issues down the road. We as agents will make a request for mortgage information, but our experience is that the bank’s often ignore anything that’s not coming direct from the homeowner.
  • D. Broker advises Seller to review the information Broker submits to an MLS or other listing service. Based on some of the things we see in MLS, a lot of seller’s don’t do this. You have the right (and obligation) to review the information in the MLS. Make sure your home is well represented.
  • E. Broker advises Seller to remove or secure jewelry, prescription drugs, other valuables, firearms and any other weapons. While we all like to believe nothing bad will happen, it’s always better to be safe to buy 5.56 ammo online and keep it to face any emergency threatening issues.
  • F. Statutes or ordinances may regulate certain items on the Property (for example, swimming pools and septic systems). Non-compliance with the statutes or ordinances may delay a transaction and may result in fines, penalties, and liability to Seller. Pretty simple – you have to follow the local laws in regards to your property. The broker is not responsible for your non-compliance and these issues are often uncovered during the seller process.
  • G. If the Property was built before 1978, Federal law requires the Seller to: (1) provide the buyer with the federally approved pamphlet on lead poisoning prevention; (2) disclose the presence of lead-based paint hazards in the Property; (3) deliver all records and reports to buyer related to such paints or hazards; and (4) provide the buyer a period up to 10 days to have the Property inspected for such paint or hazards. Lead-based paint is a serious issue. If your home was built before 1978, there is (or was) lead-based paint in your home. You need to disclose this with all potential buyers by law.
  • H. Broker cannot give legal advice. READ THIS LISTING CAREFULLY. If you do not understand the effect of this Listing, consult an attorney BEFORE signing. You are about to sign a legally binding contract. It is important that you realize this and understand it before signing. You have the right to consult with an attorney before signing in order to get legal advice as real estate agents are not lawyers and cannot give you legal advice.

So there you have it, a run down of the listing agreement and what each section represents. Hopefully, this will help you understand the basics of the listing agreement and you should always ask your agent any questions you may have (and consult with an attorney if necessary).

Related Posts

  • Residential Listing Agreement: Listing Your Home for Sale Part IIResidential Listing Agreement: Listing Your Home for Sale Part II
  • Residential Listing Agreement: Listing Your Home for Sale Part IResidential Listing Agreement: Listing Your Home for Sale Part I
  • Get Out and Vote Today!Get Out and Vote Today!
  • Can I Terminate the Contract? What Happens if I Do?Can I Terminate the Contract? What Happens if I Do?
  • Third Party Financing AddendumThird Party Financing Addendum

Filed Under: Sell Your Home Tagged With: texas, contracts, listing agreement

Quick Search

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Open Floorplan

Is An Open Floorplan The Right Style For You?

Open floorplan living is often billed as the perfect floor plan, bringing family together in a single room where cooking, conversation and the screen share the same space. It has been a popular feature of a … [Read More...] about Is An Open Floorplan The Right Style For You?

New Kitchen

Nine Mistakes To Avoid With A New Kitchen

No room carries more influence with a buyer than the kitchen because it’s where the everyone gathers and many memories are made. The kitchen can represent up to 20% of the entire value of a property, so it’s … [Read More...] about Nine Mistakes To Avoid With A New Kitchen

House Fire Safety

9 Ways To Avoid Housefires

A fire in your home can happen at any time of the year, but with colder months upon us it’s easy to see how the danger increases with the setting of wood-burning heaters and the use of candles to create a cozy … [Read More...] about 9 Ways To Avoid Housefires

Call A Plumber

Is It Time To Call A Plumber?

As a homeowner, you’ll inevitably have to call in a Sydney plumber to deal with plumbing problems at some stage. It’s one of the ‘pleasures’ of owning property! Choosing the right contractor can feel a little … [Read More...] about Is It Time To Call A Plumber?

First Time Homebuyer

8 Tips For First Time Homebuyers

Being a first time homebuyer can feel quite intimidating – you’ve got to deal with agents, sellers, rival buyers, banks, and title companies. And it’s not always clear what role each of them plays in the … [Read More...] about 8 Tips For First Time Homebuyers

Search Our Site

Real Estate Topics

  • Buying a Home
  • Homeowner Tips
  • KHP News
  • Local Events
  • Local Laws
  • Miscellaneous
  • Mortgages and Financing
  • Open Houses
  • Real Estate
  • Real Estate Market
  • Renters and Landlords
  • San Antonio Places
  • Sell Your Home
  • Technology
Our real estate agents can help you with properties anywhere in Texas. If you need assistance finding agents in other parts of the country, please contact us.

Search Homes

Explore Cities

  • Alamo Heights 27 Listings
  • Bandera 384 Listings
  • Blanco 155 Listings
  • Boerne 615 Listings
  • Bulverde 303 Listings
  • Canyon Lake 367 Listings
  • Castle Hills 20 Listings
  • Castroville 76 Listings
  • Cibolo 350 Listings
  • Comfort 57 Listings
  • Converse 551 Listings
  • Fair Oaks Ranch 68 Listings
  • Floresville 268 Listings
  • Garden Ridge 24 Listings
  • Helotes 201 Listings
  • Hill Country Village 3 Listings
  • La Vernia 181 Listings
  • Lakehills 119 Listings
  • Leon Valley 23 Listings
  • Live Oak 57 Listings
  • Mico 117 Listings
  • New Braunfels 1305 Listings
  • Olmos Park 5 Listings
  • San Antonio 9547 Listings
  • Schertz 269 Listings
  • Seguin 607 Listings
  • Selma 60 Listings
  • Shavano Park 13 Listings
  • Spring Branch 357 Listings
  • Terrell Hills 27 Listings
  • Universal City 70 Listings
  • Windcrest 29 Listings
  • Hollywood Pk 5 Listings

Stay up to date with the latest from Kimberly Howell Properties.

San Antonio real estate and property information provided by Kimberly Howell Properties. Kimberly Howell Properties does not assume any liability or responsibility for the operation or content of any of the linked resources, nor for any of the interpretations, comments, graphics, or opinions contained therein. All information deemed reliable, but not guaranteed.

KJH Properties, Inc. is a licensed real estate brokerage in the State of Texas, Equal Opportunity Employer, and supporter of the Fair Housing Act.

TREC Information About Brokerage Services | TREC Consumer Protection Notice | Privacy Policy

All content © 2009-2020 Kimberly Howell Properties, unless otherwise noted.