A California real estate listing agreement is a type of contract used to grant authority to a real estate broker to sell residential property for a seller. The broker, and the agency they work for, may be given exclusive rights to sell, which means they are the only agency representing the seller and will receive a commission (a fixed rate or percentage of the sale price) for their services regardless of how a buyer is found. Otherwise, the agreement may be set up so that the seller doesn’t pay a commission if they find a buyer without the agency’s help (“exclusive agency”) or can even hire multiple agencies (“open listing”).
Other important factors that must be determined in a listing agreement are the commission rate, the length of the agreement, marketing and advertising, and the duties and obligations of both parties.
California Association of Realtors Residential Listing Agreement – This is an exclusive authorization and right to sell listing agreement for residential real estate in the state of California that can be used by real estate brokers to obtain the exclusive right to sell an owner’s real property.
Confirmation of Real Estate Agency Relationships (§ 2079.17) – The buyer’s agent must disclose to the buyer and seller whether they are representing the buyer or representing both parties as a dual agent in the real estate transaction; the seller’s agent must execute the same disclosure form and provide it to the parties. This disclosure is in addition to the Disclosure Regarding Real Estate Agency Relationship form.
Consumer Privacy Act Advisory – This advisory statement is typically provided to real estate agents’ clients at the same time as the Agency Disclosure (linked below under disclosure #2), which states that individuals’ information may be collected and shared with third parties and that they may choose to opt-out of this information transfer and request certain businesses to delete collected information.
Disclosure Regarding Real Estate Agency Relationship (Buyer) (CIV § 2079.14 & § 2079.16) – The buyer’s brokerage firm must provide this disclosure document to the buyer to educate them on their agent’s responsibilities and obligations to them as a client, and to outline the types of agency relationships.
Disclosure Regarding Real Estate Agency Relationship (Seller) (CIV § 2079.14 & § 2079.16) – This disclosure form shall be delivered to the seller by the seller’s brokerage firm before entering into a discussion regarding a real estate transaction to inform them of the types of agency relationships and the duties and responsibilities of real estate agents.
Possible Representation of More Than One Buyer or Seller – Real estate brokers can use this form to notify their clients that they may represent other buyers and sellers who are interested in buying/selling real estate that may be similar to the properties their clients are purchasing or selling.
Property Disclosure Statement (CIV § 1102 et. seq. ) – California law requires that all owners selling residential property complete a Transfer Disclosure Statement and deliver it to the buyer. This disclosure form will inform the buyer as to the major defects and issues with the property being sold.
Seller’s Advisory – This disclosure form lets the seller know what to expect when going through the process of selling their home, including required disclosures, reports, inspections, taxes, market conditions, and fair housing policies.
Statewide Buyer and Seller Advisory – This advisory form helps educate the parties to a real estate transaction on what disclosures are required by law as well as the rights of duties of each individual.
Wire Fraud and Electronic Funds Transfer Advisory – This disclosure statement informs buyers and sellers of the risks of fraudulent hacker activity, and how to avoid being scammed into sending money to the wrong account.
