As a professional, I`m here to provide you with an article on “de listing agreement.” If you`re unfamiliar with this term, it refers to the process of removing a property from a multiple listing service (MLS). There are a variety of reasons why a homeowner may choose to request a de listing agreement, from a change in circumstances to a desire to work with a different real estate agent. Here, we`ll explore the basics of de listing agreements and what they entail.
What is a De Listing Agreement?
When you list your home for sale, it goes into the MLS. This is a database of properties that are available for sale in a given area, and it`s used by real estate agents and brokers. If you decide that you no longer want your property listed on the MLS, you`ll need to sign a de listing agreement. This is a contract between you and your real estate agent that outlines the terms under which your property will be removed from the MLS.
What Are the Reasons for a De Listing Agreement?
There are many reasons why a homeowner may request a de listing agreement. Some common situations include:
– The homeowner decides not to sell their property after all.
– The homeowner has a change in circumstances that makes it unfeasible to continue with the sale.
– The homeowner is unhappy with their real estate agent and wants to work with someone else.
– The homeowner wants to take a break from the selling process and re-list their property at a later time.
What Does a De Listing Agreement Entail?
A de listing agreement is a legally binding contract that outlines the terms of your property`s removal from the MLS. It typically includes the following information:
– The date on which the property will be removed from the MLS.
– The reason for the de listing.
– Any fees or costs that will be incurred as a result of the de listing, such as cancellation fees or marketing costs.
– The homeowner`s obligations, such as returning any keys or materials provided by the real estate agent.
– The real estate agent`s obligations, such as removing the listing from the MLS and returning any paperwork or materials to the homeowner.
It`s important to note that a de listing agreement does not necessarily terminate your contract with your real estate agent. If you want to work with a different agent, you`ll need to negotiate that separately.
In Conclusion
De listing agreements are a common part of the selling process, and they`re designed to protect both the homeowner and the real estate agent. If you`re considering requesting a de listing agreement, make sure you understand the terms and conditions before you sign. As always, it`s a good idea to consult with a real estate professional to make sure you`re making the best decision for your specific situation.