Texas Listing Agreements
One of the main ways that real estate licensees profit from real estate transactions is through listing agreements, or written contractual agreements between property owners and real estate licensees in which the licensee markets a property on behalf of an owner. Consequently, understanding the different types of listing agreements, what makes a listing agreement valid and who may enter into listing agreements with consumers is of specific importance to all licensees.
In accordance with TREC rules Sections 535.71 and 535.72D, this module will help the student become familiar with the basic legal concepts and forms used in listing real property and the different types of listing agreements available. In addition, it presents an overview of the listing process through a step-by-step review of the basic listing form and contents.
Although listing agreements vary from broker-to-broker and state-to-state, the underlying core content, form and most of the legal implications associated with them, remain the same. It is these core concepts that this course will address; and, consequently, upon completion of this course, the student will know how to successfully obtain listings (through prospecting and other means), how to maintain listings through quality representation and how to retain loyal clientele and gain referrals for future business.
The conclusion of this module presents real world dilemmas and applications of the information presented. As you complete this module, try to keep in mind how it will impact your role in the field as a real estate licensee, and how you assist consumers.
The course approval number for this course will be available upon request
Upon completion of this course, the student will be able to:
- Describe the broker/owner relationship.
- Outline the legal aspects of the broker/owner relationship and other responsibilities created by listing agreements.
- Identify various types of listing agreements and explain the differences they make in a business relationship.
- Explain the listing process and the basic marketing strategies needed to obtain listings.
- Describe the basic concept of Comparative Market Analysis (CMA) and the process involved in preparing one.
- State the basic content and form of a listing agreement.
- Name other forms typically executed along with a listing agreement, including forms required by federal law and others required by most states.
- Describe marketing strategies needed to obtain a buyer while maintaining customer loyalty.