Once you have decided to go with a agent and broker they will ask you to sign a listing agreement with them. The listing agreement is a binding legal contract so understand it before you sign it – consultant an attorney if necessary. This contract authorizes the broker to act as your agent by finding someone to buy your house. The contract contains two promises, first the broker will do their best to find a buyer for your property; second you promise to pay the broker a commission.
Your broker will generally ask you to sign an exclusive right to sell listing (PDF). This listing agreement gives exclusive listing to one broker to find a buyer for your condominium. If your property sells within the allotted timeframe you owe the broker a commission regardless of who sells it.
Keep in mind that listing contracts vary from place to place. However, most agents use established listing agreement forms that are the de facto industry standard in their area or are dictated by their brokerage company. Everything on these preprinted forms is negotiable.
Here are some terms to understand before signing the contact:
Royal LePage Mission
3595 114 Ave SE #110
Calgary AB T2Z 3X2