What kind of list agreement is a buyer representation agreement? Second, what is the exclusive right to sell the list? Exclusive right to sale: a contractual agreement, under which the listing broker acts as an agent or as a legally recognized non-agency representative of the seller (s) and the seller (s) agrees to pay a commission to the listing broker, whether the property is sold by the efforts of the above reasons, some brokers avoid entering into single party list agreements , instead of entering into a „compensation contract“ with FSBO sellers for payment of a commission when the buyer buys the house. No list contract is signed with the seller and the written compensation agreement makes it clear that the broker represents the buyer exclusively. Broker A`s primary legal responsibilities are therefore attributable to the buyer and not to the seller. Nevertheless, Broker A still has two important positive obligations for the FSBO seller: (a) to act honestly and in good faith; and (b) to disclose essential facts known to the buyer`s broker that are not obvious or easily identifiable by the seller. [See ORS 696.810 (2.) Second, does a list agreement have to be written? Under the provisions of the Real Estate Licensing Act, only a broker can act as a broker to list, sell or lease another person`s real estate, and in most states, list agreements must be written. „Read the list contract you signed with your agent. Look for the word, z.B „cancellation“ or „end.“ Many contracts allow you to cancel the offer without penalty as long as the agent agrees to cancel it. Under the Oregon Disclosure Act, the parties must decide whether Broker A represents both the FSBO and the purchaser, or only the buyer alone, when a list of a party is concluded with Mr. and Mrs.
Seller. This is an important consideration for most brokers, as it is much more difficult and risky to represent sellers and buyers in the same transaction. TIP – The commission rate for a list of a party is generally lower than the full interest rate that would be due if sir.