RISMEDIA, Oct. 24, 2007-The listing contract is essential to any agent, outlining the myriad of details associated with the listing, and legally guarantees the agent will be paid for work performed. In the complex world of real estate transactions and what can often be a mountain of accompanying paperwork, the listing contract becomes a standard fixture that is rarely updated with any new information other than commission rates or length of listing dates.
But what if the contract could be something more? What if, by changing a few clauses here and there, you could actually raise your commission, get paid when deals go bad, and add an extra $80,000 to your bottom line every year?
David Eiglarsh of Weston, Florida has done just that, refining and tweaking his contract over the years to prevent the kinds of deal-breakers and commission-threatening situations that often crop up during the course of a transaction.
He explains, “These clauses were created out of my experiences over the past few years. They evolved though experiences that could have had a different outcome-had I incorporated these clauses sooner. My goal was to keep a situation that was unfavorable to me from happening again.”
Today Eiglarsh includes these clauses in every single listing agreement and, with 11 total, they range from innocuous one-liners that help reduce the amount of forms the client has to sign, to the important sections addressing commission, length of listing, and price reductions. There’s even a clause to protect him from a client changing their mind about listing.
“I’ve had clients ask me to take the property off the market before; most often it’s because they’re going to refinance their home. Other times it’s because they’re frustrated and someone told them to give it a break and then find another Realtor. Sometimes it’s because they haven’t found a house that they want to buy. I got tired of spending time, effort and money to list a home, only to have it sit off the market and then come back on after my listing expires. So, I added a clause that states should the seller request the property be ‘temporarily’ removed from the market, the listing period is extended by the length of time the property is off the market, plus an additional 45 days.” A simple clause, but powerful protection for the listing agent.
iSucceed Mentor David Eiglarsh discusses some of his powerful listing clauses on this week’s RIS Media/iSucceed Business Development and Training Call, “Must-Have Clauses for Your Listing Agreement.” The interview, hosted by iSucceed’s own Kelly Kelley, will be available for one week at www.isucceed.com/rismedia.
David Eiglarsh entered the real estate industry 13 years ago and joined forces with his mother, Dorothy. Together they make up the South Florida-based “The Eiglarsh Team.” Ranked among the top quarter of 1% of real estate agents internationally, David is an active participant in a variety of professional training and career enhancement programs, attending conferences every year. Known for his outstanding listing techniques, David continues to excel in his craft.
Every Wednesday the RIS Media/iSucceed Business Development and Training Call presents profitable real estate strategies and introduces agents across the country to the full 30-minute iSucceed Weekly Counseling Call, available at www.iSucceed.com – an online provider of real estate tips, tools, secrets and success strategies, directly from North America’s 200 most successful real estate professionals.