Congratulations on being a part of HomeLight’s Buy Before You Sell program!
You will write the Listing Agreement as you normally would, following the Listing Plan and terms that were initially discussed with your Listing Specialist.
Here are some general guidelines to keep in mind:
Seller
Please refer to the purchase agreement copy, or Settlement Statement to identify which entity is to be listed as “Seller” on the Listing Agreement and disclosure forms.
It will be one of the following:
- HomeLight Homes Real Estate, LLC
- LLC / HomeLight Real Estate II
- LLC / HomeLight Homes, Inc
Listing Agreement Period
If your brokerage has a standard listing period, use that on our listing agreement. Otherwise, use 180 days.
Commission
Please refer to the amount that’s listed in the Buy Before You Sell Agreement.
Cooperating Buyer Broker Commission
The Cooperating Broker Commission (buyer’s agent commission) should be according to what’s customary to the local market and according to the Listing Plan. If you intend to advertise an amount that’s less than what’s in a Listing Plan or customary to the local real estate market, then please contact your Listing Specialist for further guidance.
"Coming Soon" Pre-Listing Marketing
If your local MLS has a pre-listing marketing feature such as “coming soon” or “private listing,” the property should be entered no earlier than 2 weeks prior to listing date, preferably 4-7 days prior to listing date.
Transaction/Administrative Fees
HomeLight will not pay any extra fees that brokerages charge such as Transaction Coordinator fee, Administrative fee, or MLS fee.
Dual Agency
HomeLight strongly recommends against dual agency, where one agent represents both parties. Any instance of dual agency must have prior written approval from your HomeLight Listing Specialist. HomeLight will consent to a designated agency, where two different agents from the same team or brokerage represent the buyer and seller.
Termination of Agreement
Either party may terminate the Listing Agreement within 24 hours of delivering a written notice to the other party.
Protection Period
If your brokerage has a standard protection period, use that on our agreement, with a maximum period of 45 days.
Dispute Resolution
If a local Listing Agreement has a clause addressing the method of dispute resolution, please mark the mediation and arbitration sections.
Signing
Please refer to the Listing Agreement and disclosure request email for instructions on who will act as the authorized signer on behalf of HomeLight.