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Seller, Be Suspicious of Long Contracts

OpenDoorAuctions.com
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Frankly, we’ve always been a little suspicious of anyone who seeks to tie up another through the use of long contracts. Things change and what might have been a good idea at the beginning can morph into a completely different environment six months later. There’s no polite way to say this. The one-sided, long contract your traditional real estate agent is going to ask you to sign is a bad idea. As a matter of practice, you’ll find it skewed decidedly in his favor but, until now, unless you wanted to go the ‘for sale by owner’ route, you had no choice but to sign it and hope for the best.

In case you aren’t aware, most agents solicit you to sign what is called a listing agreement, which gives him complete right to control the listing, marketing, and promotion of your house for a set period of time that usually runs anywhere from six months to one...