{"id":7263,"date":"2023-10-02T07:23:04","date_gmt":"2023-10-02T05:23:04","guid":{"rendered":"https:\/\/albermoya.com\/?p=7263"},"modified":"2023-10-02T16:43:49","modified_gmt":"2023-10-02T14:43:49","slug":"listing-agreements","status":"publish","type":"post","link":"https:\/\/albermoya.com\/en\/listing-agreements\/","title":{"rendered":"Listing Agreements in Real Estate"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Partes_Involucradas\" >Parties involved<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Fiduciary_Duties\" >Fiduciary Duties<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Autoridad\" >Authority<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Ley_de_Contratos\" >Contract Law<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Tipos_de_Listing_Agreements\" >Types of Listing Agreements<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Exclusivo_de_Derecho_a_Vender_Exclusive_Right-to-Sell\" >Exclusive Right-to-Sell:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Exclusivo_de_Agencia_Exclusive_Agency\" >Agency Exclusive (Exclusive Agency):<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Listado_Abierto_Open_Listing\" >Open Listing:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Listado_Neto_Net_Listing\" >Net Listing:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Listado_Multiple_Multiple_Listing\" >Multiple Listing:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Acuerdos_de_Agencia_del_Comprador_Buyer_Agency_Agreements\" >Buyer Agency Agreements:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Compensacion_Terminacion\" >Compensation\/Termination<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Desempeno_del_Agente\" >Agent Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/albermoya.com\/en\/listing-agreements\/#Revocacion_de_un_Listing\" >Revocation of a Listing<\/a><\/li><\/ul><\/nav><\/div>\n<p>The <strong>listing agreements<\/strong> They are fundamental documents in the real estate industry in the United States. These contracts represent a legally binding agreement between a listing broker and a client, establishing a relationship of <em>special agency<\/em> and defining the roles and responsibilities of the parties involved. Through these agreements, fiduciary duties are created for the agent and the agent&#039;s authority in the transaction is outlined. Let&#039;s look at the key aspects of listing contracts in detail.<\/p>\n<ul>\n<li>broker&#039;s\u00a0<em><strong>enforceable contract<\/strong><\/em>\u00a0of employment<\/li>\n<li>establishes\u00a0<em><strong>special agency<\/strong><\/em>\u00a0relationship<\/li>\n<li>you define\u00a0<em><strong>roles<\/strong><\/em>\u00a0of parties<\/li>\n<li>creates\u00a0<em><strong>fiduciary duties<\/strong><\/em>\u00a0for the agent<\/li>\n<li>describe agent&#039;s\u00a0<em><strong>scope of authority<\/strong><\/em><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Partes_Involucradas\"><\/span>Parties involved<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Listing Broker:<\/strong> Acts as fiduciary of the client, whether a buyer or a seller. The listing broker represents the interests of the client and has fiduciary duties towards him.<\/li>\n<li><strong>Subagent (Subagent):<\/strong> The subagent is an agent who works on behalf of the listing broker and is therefore a fiduciary for the listing broker&#039;s client. In some states, subagency is not allowed.<\/li>\n<li><strong>Customer:<\/strong> In a transaction, the client is a non-fiduciary party, meaning that he or she is not represented by the listing broker as an agent. However, the broker must still act fairly and honestly towards the client.<\/li>\n<\/ol>\n<ul>\n<li><em>listing broker \u2013 fiduciary of buyer client or seller client<\/em><\/li>\n<li><em>subagent \u2013 fiduciary of listing broker&#039;s client<\/em><\/li>\n<li><em>customer \u2013 non-fiduciary principal in transaction<\/em><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Fiduciary_Duties\"><\/span><strong>Fiduciary Duties<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Fiduciary duties are legal obligations that the <em>listing broker<\/em> has towards his client. These duties vary depending on whether the broker represents the buyer or the seller.<\/p>\n<p><strong>For the Client:<\/strong><\/p>\n<ul>\n<li><strong>loyalty:<\/strong> The broker must place the client&#039;s interests above his own interests or those of third parties.<\/li>\n<li><strong>Obedience:<\/strong> The broker must follow the client&#039;s legal instructions.<\/li>\n<li><strong>Disclosure:<\/strong> The broker must disclose all relevant information to the client.<\/li>\n<li><strong>Care and Diligence:<\/strong> The broker must act competently and diligently.<\/li>\n<li><strong>accounting:<\/strong> The broker must properly handle the funds and documents related to the transaction.<\/li>\n<\/ul>\n<p><strong>For the Non-Fiduciary Client (Customer):<\/strong><\/p>\n<ul>\n<li><strong>Honesty and Fair Treatment:<\/strong> The broker must treat the non-fiduciary client with honesty and fairness.<\/li>\n<li><strong>Reasonable Care and Ability:<\/strong> The broker must exercise reasonable care and skill in dealing with the non-fiduciary client.<\/li>\n<li><strong>Adequate Disclosure:<\/strong> The broker must provide adequate disclosure to the non-fiduciary client.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Autoridad\"><\/span>Authority<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The authority of the listing broker is limited to what is established in the listing contract. The broker cannot enter into contracts on behalf of the client unless specifically authorized to do so. Clients are only responsible for the actions of the broker within the scope of its authority.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ley_de_Contratos\"><\/span>Contract Law<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The listing agreements are <strong>unilateral contracts<\/strong>, which means that only one of the parties (the broker) commits to carrying out a specific action, which is to find a buyer or seller. These contracts can be oral and, in some states, an exclusive listing agreement must be in writing to be legally enforceable. Additionally, these contracts are considered personal service contracts and are not transferable or assignable.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tipos_de_Listing_Agreements\"><\/span>Types of Listing Agreements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There are several types of listing contracts used in real estate in the United States:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Exclusivo_de_Derecho_a_Vender_Exclusive_Right-to-Sell\"><\/span><strong>Exclusive Right-to-Sell:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>It is granted to a single broker.<\/li>\n<li>Generally, it must be in writing.<\/li>\n<li>It has an expiration date.<\/li>\n<li>The broker receives a commission if the property sells during the contract period.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Exclusivo_de_Agencia_Exclusive_Agency\"><\/span><strong>Agency Exclusive (Exclusive Agency):<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Exclusive except for the owner.<\/li>\n<li>It can be written or oral.<\/li>\n<li>It has an expiration date.<\/li>\n<li>The broker receives a commission unless the owner sells the property.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Listado_Abierto_Open_Listing\"><\/span><strong>Open Listing:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>It is non-exclusive, meaning the owner can work with multiple brokers.<\/li>\n<li>It can be written or oral.<\/li>\n<li>It does not have an expiration date.<\/li>\n<li>The commission is awarded to the broker who was the &quot;efficient cause&quot; of the sale.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Listado_Neto_Net_Listing\"><\/span><strong>Net Listing:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>All proceeds from the sale above a minimum price set by the seller go to the broker.<\/li>\n<li>This type of listing is discouraged and, in some cases, illegal due to potential conflicts of interest.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Listado_Multiple_Multiple_Listing\"><\/span><strong>Multiple Listing:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>The listing is placed on the Multiple Listing System (MLS).<\/li>\n<li>The owners agree to the rules and regulations of the MLS.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Acuerdos_de_Agencia_del_Comprador_Buyer_Agency_Agreements\"><\/span><strong>Buyer Agency Agreements:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>These agreements create a fiduciary relationship with the buyer.<\/li>\n<li>If exclusive, the buyer agrees to work only with the buyer&#039;s representative to purchase a property.<\/li>\n<li>They must have an expiration date and meet other requirements to be valid.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Compensacion_Terminacion\"><\/span>Compensation\/Termination<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Compensation:<\/strong> Compensation is negotiated between the agent and the principal and is based on results. Commission is awarded to the agent who was the &quot;efficient cause&quot; of finding a ready, willing and able buyer or seller.<\/p>\n<p><strong>Causes of Termination:<\/strong> Listing agreements may terminate for a variety of reasons, including performance, impossibility, mutual agreement, revocation, abandonment, default, expiration, invalidity, incapacity or death, involuntary transfer or destruction of property.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Desempeno_del_Agente\"><\/span>Agent Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The agent can only perform tasks authorized by the listing agreements and must verify the owner and property details. The agent may also delegate duties to sales agents and other brokers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Revocacion_de_un_Listing\"><\/span>Revocation of a Listing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Clients always have the power to revoke a listing contract during the period stated in the contract. However, they could incur liability for commissions or damages as agreed in the contract.<\/p>","protected":false},"excerpt":{"rendered":"<p>Los listing agreements son documentos fundamentales en la industria de bienes ra\u00edces en los Estados Unidos. Estos contratos representan un acuerdo legalmente vinculante entre un corredor (listing broker) y un cliente (client), estableciendo una relaci\u00f3n de special agency y definiendo los roles y responsabilidades de las partes involucradas. A trav\u00e9s de estos acuerdos, se crean [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[95],"tags":[204,205,200,202,201,203],"class_list":["post-7263","post","type-post","status-publish","format-standard","hentry","category-general","tag-exclusive-agency","tag-exclusive-right-to-sell","tag-listing-agreements","tag-multiple-listing","tag-net-listing","tag-open-listing"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Listing Agreements en Real Estate | Alber Moya<\/title>\n<meta name=\"description\" content=\"Los listing agreements son documentos fundamentales en la industria de bienes ra\u00edces en los Estados Unidos. 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