A listing agreement is a contract in which you hire a real estate firm to find a ready, willing and able buyer for your home in exchange for a set fee.

Three types of listing agreements:

• With an exclusive right-to-sell agreement, you pay fee regardless of who produces the buyer. This fee covers many important services that the sales professional performs above and beyond finding a qualified buyer.
  
  
• In an exclusive-agency listing, if you find a buyer, he or she is not obligated to pay the fee. If the sales professional finds a buyer, then the fee is paid to the real estate company.
  
  
• An open listing is one in which you sign with several real estate firms and give each authority to sell your home. It is typically less effective than exclusive listing because the sales professional lacks the incentive to make an all-out effort to sell your home.

Note: Your home could also be included in a multiple listing service (MLS) as part of an exclusive listing. MLS gives your home greater exposure in the marketplace. Buyers want to know details; having the answers is a powerful sales tool. 

Help your sales professional by collecting or providing the following information:

• The legal description of the property
  
  
• The number of rooms and their sizes
  
  
• A list of things not attached to the house that you're offering for sale, such as window treatments, carpet, fixtures, swing sets, etc.
  
  
• Past utility bills, property taxes and insurance
  
  
• Information about your mortgage, including the type, terms and assumability
  
  
• Financing assistance, potentially through your own lender
  
  
• Any liens against the property
  
  
• If you live in a condominium or a townhouse, include a copy of the association's declaration, bylaws, and financial statement, monthly fee's and special assessments
  
  
• Special items or improvements about the house (Point out things that may not be apparent on a walk-through)
  
  
• The positive points about your neighborhood, such as demographic information and proximity to services, shopping, schools and other areas
  
  
• Any defects that aren't apparent (You should inform your sales associate about defects so a buyer can be informed)