Profile picture for nmchugh6

how long is a typical listing agreement for these days

agent said 6 or 9 months but then wrote agreemnt for 9 months and i unfortunatley signed
  • June 06 2014 - Tinton Falls
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Answers (22)

In my area, in general, short listings are 3 months, average listings are 6 months and custom estate or unusual properties are a year.

However, this isn't the same in all situations and areas. The listing period depends on your market; do homes sell in a week or is the average marketing period 3 months? The agent is taking a gamble by paying for advertising, flyers, etc out of their pocket in anticipation of getting reimbursed by the commission check when it sells. If it doesn't sell, the agent takes a loss.

Getting it sold is dependent on how it is priced, what condition it is in, how accessible it is to buyers, how it shows and the market conditions. The quality of the agent determines how many people are aware of the property, the number of photos and their quality, the quality of the descriptions.

You can lead buyers to the house, (like your can lead a horse to water...) but if they can't get in when they are available to look, get there and it doesn't look, sound and/or smell good or not as good as the other homes in the asking price range they are looking at, then the agent will need longer to get everything into alignment to sell it.
  • June 23 2014
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A listing agreement term is something that is entirely negotiable. Some realtors and their agencies will not take a short term, but that is something you would need to negotiate with them. I personally as would not take less than 3 months, and usually take 6 months. There is a lot of money and time that goes into advertising and servicing a seller and their property, and that should be rewarded on some level with faith from the client(s). I also use other factors when making the determination of how short I'll go on a term; most important of these is price. If a potential client has an unreasonable price demand, I want a longer term. The other big piece of info is, market inventory/avg days listed; if the market is flooded and things are taking longer to move I want a reasonable amount of time to do my job. 

Keep in mind two things: if your realtor is truly working hard you can always renew, and if he/she is not you can always fire them!
  • June 23 2014
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It just depends upon the location and the property in question. A good property in great condition in a fabulous neighborhood that is well priced will sell fast (in my area) so a shorter listing period is fine.
  • June 09 2014
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If you suspect the agent may not give you her/his 100% effort, ask about days on the market. 
I will only list for that long. If you wish to continue the relationship you can extend it. 

On the other hand, if you feel you are not getting her attention you can terminate the agreement anytime.


Sam Shueh
  • June 09 2014
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Profile picture for NeryGainor
Dear Seller:

In this market we usually like to at least have a listing agreement for 6 months.  If you have an issue with the agent I recommend you discuss your options.
  • June 09 2014
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Profile picture for Vibha Mehra
Dear Seller,
   In this market most signed listing contracts are for 6 months.  I would have to worry about the duration only if I have priced my home above the market.  If the house is priced at a fair market price, the duration of the listing does not matter because you will be sold and moved on prior to that.  At this point in time I would concentrate on the marketing efforts your agent is putting in to sell your home.  You and your agent are a team going forward. Please concentrate on presenting your home for showings rather than the duration of the listing.  Most agents would release the seller's from the contract if the seller is not satisfied with their work.  Good Luck!
  • June 09 2014
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Profile picture for JaneSo
I think you can cancel it anytime when you feel it is not producing the results. 
  • June 08 2014
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The duration of listing agreements may vary from state to state or region. It is standard practice to assess the needs and preferences of the seller clients and then to come to a mutually agreement listing term. Given that the average days of market of a listing is about 90-110, depending on the local market trends, location, condition of the home, and asking price, it would be appropriate for a four- to six-month listing agreement to be put into place. A nine-month listing agreement for residential properties is rare except in extenuating circumstances.

Before signing Exclusive Right to Sell (ERS) contracts, sellers would be well advised to ask the listing agent beforehand what he/she recommends in terms of the listing duration and rationale therein. Everything needs to be "spelled out" for  consumers before asking them to sign any legally binding contract.  The National Association of REALTORS (NAR) addresses the duties of REALTORS to consumers and clients, the public, and other REALTORS in the Code of Ethics which includes 17 Articles with specific standard practice procedures to support each. Disclosure is an integral part of the Code of Ethics.
  • June 07 2014
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"agent said 6 or 9 months"..........but then "WROTE" 9 months.............

OK, so I have to ask.................didn't you read what you were signing before you signed it?

He/She said 6 or 9 - then wrote 9 .....that was in keeping with what he or she said.
What's the issue?
You weren't mislead - you were told 6 or 9 - then signed (agreed to by signing) for 9.......are you accusing the agent of tricking you?
If so....in what way?
Did he cover your eyes and not let you see what you were signing?

If you are that upset (actually, you didn't say why or if you were upset) you can always sit down with the agent and Broker and try to work out a shorter period of time.

ps
as an FYI -  listing agreement time frames are negotiated........I have seen 3,4,6,9 month, and even 1 year listing agreements.
  • June 07 2014
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Profile picture for Ron Shaffery
Roberta Gast is "spot on" with her answer. This is not the way professional Realtors work in our area. I would call the Broker of Record and report this agent's actions. BTW- any NJ contract can be terminated, you just need to call the Real estate Commission in Trenton, this will get the Broker's cooperation. I can email you a standard NJ withdrawl  form if you wish.
  • June 07 2014
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You can always go back to your agent/firm and ask for whatever term you want.  Most places, it is 6 months. You hold the power as agents/firms need/want your listing as whoever holds most listings know they will generate leads off of and/or potentially dual end the sell.  They are going to want to resolve it and reducing the term is better than losing you as a client.  
  • June 07 2014
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Profile picture for Dan Tabit
An agreement can go for any length of time that you both agree to.  Since you signed it for 9 months, you are bound for that long unless they elect to let you out.  If you are unhappy with the representation or the process, the listing doesn't belong to the agent, but their designated broker.  You can go to them and ask for assistance with whatever the issue is and hopefully either get it resolved or you may be released. 
  • June 06 2014
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If you want out of a listing agreement, you should consider discussing your reasons with the managing broker of the firm your agent is affiliated with. Most likely your contract may be cancelled by mutual agreement. If this is the case, and your reasons are compelling, then you should be able to get out or have the terms modified to your liking.
  • June 06 2014
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I am a Realtor in Tinton Falls and I am ashamed that you have been treated this way.  Listing agreements in the Monmouth/Ocean MLS are generally for a 6 mo period but it is not set in stone and the start and end dates should have been filled out on the listing agreement that you signed.  Whomever told you that it cant be cancelled after it has been submitted to the Monmouth/Ocean MLS Board is not correct.  You can always ask that your listing be withdrawn at any time. Please contact the Monmouth Ocean Board and make a complaint. Their info is below 
 
 Monmouth County Association of REALTORS® 
One Hovchild Plaza
4000 Route 66
Tinton Falls, NJ 07753
Phone: (732) 918-1340

Again I apologize for all of the ethical and honest Realtors in our area 
  • June 06 2014
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Profile picture for nmchugh6
i'm in  New Jersey . there is no cancel clause in the agreement. I was told the agreement is binding. i already asked agent who said it can't be cancelled "because it already went to board of realtors". agent was told to not market or advertise home in any way and it has not been shown to anyone 
 
  • June 06 2014
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I generally do a six-month listing agreement, but it is part of the listing conversation between me and my seller.  If there's an issue with your agent, talk to him or her early so you can avoid misunderstandings and hurt feelings.  Good luck.  In this area, homes priced correctly and in good condition aren't taking nine months to sell, so it may not be an issue.
  • June 06 2014
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It all depends. Some agents will try to sign you up for an entire year.  We allow our clients to cancel at any time, so the term of the contract really is not important. look at freedomlisting.com and try to negotiate what we offer with your agent.
  • June 06 2014
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Profile picture for Scott Smolen
Depends on your location.  3-4 months is usually the normal in my area.  It is important to have an honest conversation with your agent about your goals when you list.  If you are motivated to sell, house shows well, and reasonable on pricing your home should move in a reasonable amount of time.  If you have other circumstances, it could change the entire situation as well.  
  • June 06 2014
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Listing agreement should be for the term that you are comfortable with. If your agent does not put the property into contract within 60-90 days, that is a red flag that he/she are not concentrating on getting your property sold but are simply holding it on the market and waiting for something to happen. 
  • June 06 2014
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Profile picture for robertncook
Average list times in NJ run 3-4 months, so a 6-month term is the norm. State law does require that any contracts of agency allow an escape clause for the customer. If you're in a bad arrangement, you can to write a letter (or e-mail) terminating the arrangement with your agent and their brokerage, and deliver it to the office's broker/manager. Typically, the agency contract calls for three days' notice.
  • June 06 2014
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Depends which part of Country we are talking about? In San Diego, CA it is usually 6 months.  Properties in good to excellent condition(priced right)should take 3 months or less to sell.  Fixer uppers can sell 3 months or less if priced right.  Typically, properties that spend more time on the market are in the Multi-Million Dollar range only because there aren't many buyers in that price bracket.
  • June 06 2014
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In my world 3-6 months is about average. Nine months seems like a very long time to me.
  • June 06 2014
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