Listing
Definition and meaning of Listing in real estate.
A listing is a written agreement that authorizes a real estate broker to act as the agent for a property owner to market and sell their real estate. The term also refers to the property itself once it is advertised for sale on a database like the Multiple Listing Service.
In more detail
The listing agreement outlines key details, including the asking price, the broker's commission rate, the duration of the agreement, and the marketing strategies to be used. Once signed, the property is uploaded to a database to gain maximum exposure among buyer agents. There are different types of agreements, such as exclusive right-to-sell listings and open listings. Home buyers browse active listings online to find potential properties to view.
Key facts
| Category | Buying & Selling |
|---|---|
| Primary location | Multiple Listing Service (MLS) databases |
| Key component | Written listing agreement signed by the seller |
| Typical duration | Three to six months depending on market conditions |
A homeowner signs an exclusive right-to-sell contract with a local broker, officially making their house a new active listing on the market.
Frequently asked questions
What is the difference between an active and pending listing?
An active listing is currently available for purchase, whereas a pending listing has an accepted offer and is moving toward closing.
Can a seller cancel a listing agreement early?
Cancellation terms vary by contract. Some agreements allow cancellation with a fee, while others require the contract to expire naturally.