Finding Real Estate Listings In Houston, Texas
Real Estate: A piece of land, including the air above it and the ground below it, and any buildings or structures on it. Real estate can include business and/or residential properties, and are generally sold either by a realtor or directly by the individual who owns the property (for sale by owner).
Research a home and its neighborhood before you buy
Buying or selling real estate can be an expensive, and risky, business. If you are considering buying a new home, or selling the one you have, a bit of preparation can save you time, money and heartache down the road. Take your time before making decisions, and don’t be afraid to rely on the advice of professionals, such as housing counselors and home inspectors.
Check Out the AreaWhen researching your new dream home, it is important look beyond the physical appearance of the home, but it is important to check out the local community as well. Many areas sponsor interactive crime maps that can be accessed online. These maps show crime reports from the area, which can help you see what kind of criminal activity, if any, commonly occurs around the home. Information about local schools is also important. Even if you don’t have children, good schools can make the area more attractive to buyers, increasing the value of your home. Types of Real Estate Listing ContractsA real estate listing contract is a formal written agreement between a real estate property owner and a real estate agent or broker. The property owner is the principal and he authorizes the agent to act on his behalf to perform services related to marketing and selling the property for a stated period. A contract also notes the commission or fee to be paid to the agent if a sale is completed. |
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Open Listing
An open listing is one of three common types of real estate listing agreements. An open listing does not grant exclusive rights to any broker. Instead, a property owner asks brokers to compete to make the sale, with the selling agent getting the commission. A benefit of an open listing is that it is easier for the owner to justify completing a sale himself, if that is the case, since no agency was granted exclusive rights to market and sell the property. No commission is owed if the owner makes the sale. No termination date is listed on an open contract and all other agreements terminate when a property is sold.
Exclusive Agency ListingExclusive agency listings are not overly popular among real estate agents. An exclusive agency listing gives rights to one listing broker to list and market your house. The agency receives a commission on the sale if an agent from any broker sells the property. Agents sometimes do not like these listings because the owner may complete the sale and the agent earns nothing. This leads to attempts by owners to undermine agents or to work around agents with buyers obtained from the agent’s marketing efforts. |
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Exclusive Right to Sell Listing
Exclusive right to sell listings are the most advantageous to real estate brokers and agents. Under this exclusive contract, the agent earns a commission regardless of who sells the property if it is during the contract term of the listing agreement. Of the major listing types, this is the only one in which the property owner cannot make the sale and avoid paying any commission. While this is a detriment to some, a benefit is that the exclusive agent usually feels more pressure to actively market and sell the property during the contracted time frame on the listing. Otherwise, sellers are likely to go elsewhere.