NYC flat fee listing agreement is exclusive?

[vicki]

I think you might have sent me the wrong contract.

I am not granting your brokers the right to sell it and get commission.

I am granting your brokers the right to list it online and conduct an open house.

Please resend.

[HauseitAdmin]

Hi Vicki, it’s the correct agreement! Even though it’s a flat fee listing agreement, it’s still technically an Exclusive Right to Sell Listing Agreement. Those are the only types that are allowed to be posted in the RLS, though you can see that the commission language has been modified in your favor.

Thanks!

[alyson]

Hi there,

Hope you had a nice weekend.

I received the paperwork and have a question prior to signing.

While the verbiage quotes that the owner gives the broker exclusive rights to sell, I do want to ensure that there will be no issues if I sell the apartment on my own as I have listed it in my building.

Additionally, I put in a request for an open house on Sunday from 12-2. Can you please confirm we are able to accommodate for a free open house?

Thank you,

Aly

[HauseitAdmin]

Hi Alyson, that’s correct, you are free to sell to a direct buyer and owe no commission. You will only owe commission if you sell to a represented buyer, i.e. a buyer represented by a “Cooperating Broker" as defined in the agreement.

One of our partner broker’s agents should be able to cover the open house for you (which is based on availability), we are confirming!

[mary]

I have a revised listing agreement coming but have a question. This seems to indicate that I am giving your partner broker an exclusive listing. What if I sell the house myself?

I am holding open houses and working on this. No intention of paying a seller's fee.

Thanks, Mary

[clintonhillfsbo]

Hello,

I am reading over the contract that was sent to me yesterday. The contract states that I am giving the affiliate broker the rights to sell my apartment. I do not want them to sell it. I am selling it myself. This is not an exclusive right to sell listing. Please explain and change.

[HauseitAdmin]

Hello,

I am reading over the contract that was sent to me yesterday. The contract states that I am giving the affiliate broker the rights to sell my apartment. I do not want them to sell it. I am selling it myself. This is not an exclusive right to sell listing. Please explain and change.

Thanks for your message, clintonhillfsbo! RLS only permits exclusive listings to be submitted into their database which is why our customers are required to sign a Flat Fee RLS Listing Agreement which authorizes our affiliate to post your listing in RLS.

Before moving forward, we also encourage you to review this support thread which confirms how inquiries are handled under the Agent-Assisted FSBO model: https://www.hauseit.com/forum/forum/...istings-in-nyc

Once your listing is live, it would be counterproductive for you to tell buyer agents that you are selling ‘FSBO’ as this isn’t true since you would have an exclusive listing agreement in place. Furthermore, the use of this acronym may actually confuse buyer agents and scare them and their clients away from your listing!

[cary_r]

Hello,

The listing agreement that was provided to me for review is incorrect. Section 2.a states that I am granting the Broker the Exclusive Right to Sell the property. I am not doing so. Rather, I am entering into an "exclusive agency" agreement, as defined in Section 9, Kindly arrange for the agreement to be modified accordingly.

Thank you,
Cary

[HauseitAdmin]

Hi Cary! Unfortunately we cannot make any edits to these pre-approved agreements.

Just for context, New York State requires every listing agreement to include this boiler plate "explanation" language:

An “exclusive right to sell" listing means that if you, the owner of the property, find a buyer for your house or if another broker finds a buyer, you must nonetheless pay the agreed commission to the present broker.

An “exclusive agency” listing means that if you, the owner of the property finds a buyer, you will not have to pay a commission to the broker. However, if another broker finds a buyer, you will owe a commission to both the selling broker and your present broker.

Please note that we've also included this at the bottom of this explanations section:

However, despite the above language which Broker is required to include, it is understood by Owner that the commission language previously mentioned in this agreement shall apply.

Just for context, many property websites and databases such as the REBNY RLS and StreetEasy only accept Exclusive Listing Agreements or Exclusive Right to Sell Listing Agreements. As a result, this flat fee listing agreement is named such even though both boiler plate definitions may not perfectly apply to this situation.

Please feel free to check out our customer support forum for similar questions from other customers. We’re happy to provide you with a full refund if you’d like. Thank you!

[Anne]

So the exclusive contract is only a requirement for our property to be listed in RLS but we can still sell the property by ourselves and only pay commission for buyers represented by an agent? Correct me if I am wrong, it is still a FSBO property, but will be listed as an exclusive listing in RLS just for exposure?

[showtime]

Happy to jump in on this one as it took me a while to figure out as well. The REBNY RLS and many sites like SE etc. only allow exclusive sale listings. No open listings in sales generally. So yes you need an exclusive to be able to list on those places.

And from a glance at their Agent Assisted FSBO product page, no you don't owe commission if you find a direct buyer. Per their marketing, it's called an Agent Assisted FSBO, so it's not a traditional FSBO. It's listed by a partner agent. That's the only way to get on the MLS or RLS.