Agent and owner define price and conditions, under which agent gets a commission {listing}.
types
Owners can offer a commission to any agent that sells house {open listing}. Only one agent can have right to sell a house {exclusive listing}. Owners can keep right to sell house, and then agent gets nothing {exclusive agency}. Agents can have guaranteed commission if house sells {exclusive right to sell}. Agents can ask other agents to find buyers {multiple listing}. Then both agents split commission.
period
Listing period is typically 60 or 90 days. Listing contracts automatically extend, unless you notify agent in writing.
Practical Affairs>Legal Affairs>Property>Housing>Buying
7-Legal Affairs-Property-Housing-Buying
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Date Modified: 2022.0224