You're ready to sell your Atlanta home, but then you see the term "listing agreement" and start wondering what it is and if you actually need one.
If this sounds familiar, you're not alone. Many homeowners aren't sure whether a listing agreement is required when selling a property, especially with so many options out there. Let’s break down what a listing agreement is, the different types, and whether you really need one to sell your house in Georgia.
What is a listing agreement?
A listing agreement is a contract between the homeowner and a real estate agent. It allows an agent to market and sell on your behalf.
This agreement helps set expectations for both you and the agent so that everyone is clear about pricing, responsibilities, and the terms of the sale for your Atlanta property. It also makes sure that both parties are protected in case something goes wrong.
Key parts of a listing agreement include:
- Duration: Usually lasts 3 to 6 months, giving the agent time to sell your house.
- Commission: In Georgia, agents historically earn a commission of 5%–6% of the sale price, which is split between the seller’s agent and the buyer’s agent.
- Listing price and terms of sale: The price you want to sell your property for, and any conditions attached to the sale.
- Agent’s responsibilities: These include marketing, scheduling showings, and negotiating offers.
Types of listing agreements
There are a few types of listing agreements, each offering different levels of flexibility:
- Exclusive right-to-sell listing: This is the most common type. With this agreement, the agent earns a commission even if you find the buyer yourself.
- Exclusive agency listing: The agent only gets paid if they bring in a buyer. If you find a buyer on your own, you don’t owe the agent a commission.
- Open listing: This is less common, where multiple agents can market your property, but only the agent who finds the buyer gets paid.
Do you need a listing agreement in Georgia?
No—you do not need a listing agreement to sell your Atlanta house. While you don’t need a listing agreement, there are benefits to using one. You get:
- Access to the MLS: Listing your property on the MLS (multiple listing service) gives you the best exposure to Atlanta home buyers.
- Professional marketing: Real estate agents can help with staging, taking photos, and crafting a listing that highlights the best features of your property.
- Pricing help: An experienced agent can help you set the right price based on current market trends.
- Legal support: Selling a house comes with legal requirements, like providing seller disclosures. An agent can help you navigate these obligations and avoid mistakes.
Pros and cons of signing a listing agreement
Before you sign a listing agreement, it’s good to weigh the pros and cons.
Pros:
- Expert pricing and marketing: An agent can price your Atlanta house competitively and create an effective marketing plan to get it sold.
- More exposure: Listing on the MLS gives your Atlanta property wide visibility and can increase the chances of a sale.
- Less stress: You won’t have to deal with showings, negotiations, or paperwork. A real estate agent can handle all of that for you.
Cons:
- Commission fees: Typically, agents take a percentage of the sale price, which can be a significant amount. However, with the recent National Association of Realtors® (NAR) ruling, commissions may be more flexible, and some agents may accept a flat fee instead.
- Contract terms: You’ll typically sign a contract for several months, and there may be cancellation clauses to watch out for.
- Less control: If you’re someone who prefers to be hands-on, you might feel like you’re giving up some control over the process.
Alternatives to a listing agreement
If a listing agreement doesn’t sound like the right fit for you, there are other options:
- Sell FSBO (for sale by owner): Sell your house yourself to save on commission. However, you’ll need to take care of everything, from marketing to negotiations.
- Use a flat-fee MLS service: Pay a one-time fee to list your property on the MLS without a full-service agent. This gives you some exposure without the full agent commission.
- Hire a real estate attorney: If you need help with the legal side of things but don’t want to work with an agent, a real estate attorney can help.
Sell your Atlanta house with HomeVestors®.
If you’re looking for a selling option that doesn’t involve a listing agreement, HomeVestors® is here to make short work of your home sale. We buy houses in Atlanta and can make you a quick, convenient offer. This means no listing agreement, no repairs, and no waiting months to sell. If you're trying to sell a house that needs repairs in Georgia or want to sell your house "as is" in Atlanta, we can help you get a faster sale. We never charge commissions or hidden fees, and we pay all typical closing costs.†
Ready for a quick house sale in Atlanta? Contact HomeVestors in Atlanta today for a free consultation on your property.
