A price, which must be expressly agreed upon, below which the owner will not sell the property and at which the broker will not receive a commission; the broker receives the excess over and above the net listing price as commission. The broker in this type of listing will have a very hard time maintaining his fiduciary responsibilities to his seller since his interests are potentially at odds with the interests of the seller.
A net listing is used when the seller of real property wishes to net a certain dollar amount when selling real property. To create a strong motivation on the listor's part, the seller agrees that the listor will receive the difference between the agreed upon price and what the listor actually sells the property for. Although legal in Texas, net listings are not encouraged. One school of thought prevails stating simply that instances will arise where the seller may not know the market value of the property. Legally, the listor has the fiduciary responsibility to put the interest of the seller above his own, and, as a result, net listings have the potential of creating a breach of the fiduciary responsibilities to a seller.
a listing agreement in which the broker's commission is the difference ("net") between the sales proceeds and an amount desired by the owner of the real property
a listing agreement where the agent receives a commission on whatever amount he can obtain above a predetermined minimum sale price set by the seller
A situation where the seller of a home receives a set amount of money from the sale and the real estate broker takes the rest as commission.
A price under which an owner will not sell the property. The broker is entitled to the excess over the net listing as his commission.
Listing agreement where the broker's commission is an amount above a net price set by the owner. If that price is not met, a commission is not earned.
A listing agreement in which the broker's commission consists of the amount above a net price set by the owner. If the net price is not met, a commission is not earned.
A type of listing agreement in which the seller has indicated the amount he or she is seeking; the broker's commission will be the difference between the sales price and that seller-indicated target. This is an illegal format in many states, because of the potential for fraud. For more information, see the "Selling Your Real Estate" article in the "Real Estate In-Depth" section.
An employment contract in which the broker receives as commission all excess monies over and above the minimum sales price agreed on by broker and seller. Because of the danger of unethical practices in such a listing, its use is discouraged in most states. ( See listing agreement )
The listing, with a broker, of real estate for sale for a specified price, net to the seller, exclusive of commission and closing costs.
The marketing for sale of a property under an agreement between the agent and the owner in which the parties agree to a sale price (the net price). The vendor is guaranteed to receive the net price while the agent's commission is equal to the amount in excess of the net price for which the property actually sells. May not be legal in some jurisdictions.
A listing agreement which provide that the seller receive a specified amount of money regardless how much is paid for the property. In a net listing, it is anticipated the sale price will be higher than the net and the broker will receive the difference. This type of listing is illegal in some states.
A listing in which the broker's commission is the excess of the sale price over an agreed-upon (net) price to the seller; illegal in so -me states.
An arrangement whereby the Broker receives as commission all monies received above a minimum sales price agreed to by the owners and the Broker.
A listing which provides that the agent may retain as compensation for his services all sums received over and above a net price to the owner.
The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states
A listing in which the agent receives all money over and above a set sales price as commission.
A listing whereby the broker receives as commission that portion of the sales price that exceeds the listing price.