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Once you’ve selected a broker, you will be asked to sign a listing agreement or contract. Make sure all the terms are in writing, including any oral promises. 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. You may want to ask about or negotiate a termination clause if you become dissatisfied with the broker’s services before the end of the contract term.
There are two basic kinds of listing contracts:
• In an exclusive right-to-sell contract, you agree to pay the broker a commission no matter who finds the buyer – even you. This
is the kind of agreement usually used for a seller to obtain the full range of traditional brokerage services.

• In an exclusive agency contract, you agree to pay your broker a fee or commission. The commission paid when the property is
sold may be reduced or eliminated if, for example, you find the buyer, rather than the listing broker. This kind of listing agreement
can be used to provide a limited range of real estate brokerage services.
Selling real estate involves a lot of paperwork. To be legally enforceable, documents like listing contracts, sales agreements, offers,
and counteroffers must be in writing. Just as important is knowing what the writing means. Ask your broker or lawyer, if you have hired one, to explain any forms or documents that you do not understand. Checkftc.gov/bc/realestate/resources/glossary.htm for a glossary of current real estate terms.