One Time Listing Agreement Louisiana

As a real estate agent in Louisiana, you may come across clients who are hesitant to commit to a long-term listing agreement. In such cases, a one-time listing agreement may be the perfect solution.

What is a One-Time Listing Agreement?

A one-time listing agreement is a contract between a real estate agent and a seller that gives the agent the right to market and sell the property for a fixed period. Unlike traditional listing agreements that may last for several months, a one-time listing agreement is typically valid for a shorter period, usually 30–60 days. At the end of the term, the seller can choose to renew the agreement or list with another agent.

Benefits of a One-Time Listing Agreement

Flexibility: One of the primary benefits of a one-time listing agreement is flexibility. Sellers who are unsure about their plans may find it more comfortable to commit to a short-term agreement, rather than a long-term one. Moreover, if the seller is not satisfied with the agent`s performance, they can easily switch to another agent at the end of the term.

Cost-Effective: A one-time listing agreement can be cost-effective for sellers who want to test the market without committing to a long-term agreement. Since the agreement is valid for a shorter period, the commission fees charged by the agent can also be lower.

Faster Sales: A one-time listing agreement can be particularly useful if the seller is in a hurry to sell the property. The shorter term means that the agent is likely to focus more intently on selling the property, which can lead to a faster sale.

How to Draft a One-Time Listing Agreement?

Like any contract, a one-time listing agreement must be drafted carefully to avoid any legal disputes. Here are some essential components of a one-time listing agreement:

Listing Price: The agreement should specify the listing price, which is the price at which the property will be marketed for sale.

Commission: The commission fee charged by the agent should also be specified in the agreement. The commission fee is typically a percentage of the final sale price and ranges from 5% to 7%.

Listing Term: The listing term is the period for which the agreement is valid. It is typically 30–60 days.

Listing Details: The agreement should specify the details of the property, including its location, size, and other essential features.

Conclusion

A one-time listing agreement can be an effective tool for real estate agents and sellers in Louisiana. The flexibility, cost-effectiveness, and faster sales that it offers make it an attractive option for sellers who are unsure about their plans or are in a hurry to sell. However, it is essential to draft the agreement carefully to avoid any legal disputes.