Real Estate Listing Agreements Essay

Satisfactory Essays
When someone decides to take the major choice in life to purchase a home they need to feel secure in the process and decision. The purchase of a home is an investment in their future they need to feel secure in the choice made. This step-in life at times are due to future family planning and ensure a they are a part of an environment is one they can thrive in. One of the major draws of homeownership is the investment made when choosing to have a mortgage versus the continuous cycle of renting. Which is why real estate transactions are important and ensuring that they are handled legally and protect all parties is important.
There are various forms of real estate contracts that can be used in the purchase of property one of them being listing agreements. Listing agreements are the contracts between a real estate broker and the seller (Bevans,2006 p.171). These agreements outline the duties of the broker to perform his obligation of listing the home for sale to attract a buyer who is ready to purchase a home. They also include all the steps and
…show more content…
Due to the costly financial obligations one undertakes when purchasing a home the statute of frauds requires an effort to avoid the possibility of fraud. Thus, requiring all real estate transactions be in writing that will be collected into the public record (Bevans,2006 p.160). Needs for transactions to be a part of the public record is to allow everyone who seeks information on the transaction the ability to access and review. Use of public records is a way for the government show transparency and hold people accountable to their transactions. Examples of public record are birth certificates, Marriage licenses, voting records, and homeowner deeds. The record in association with real estate are deeds which contain the proof of transfer of ownership from the prior owners to the
Get Access