Selling your home is a big step, and we want to make the paperwork as clear and straightforward as possible. Below is a simplified explanation of our Exclusive Listing Agreement so you understand what each section means before you sign.
1. Agreement – This gives Bay Realty Michigan the exclusive right to market and sell your home. We agree to make our best effort to get your home sold and expose it to other agents via the MLS. You will work directly with the agents and brokers listed on the agreement.
2. Property Details – This section includes your home’s legal and physical description, address, tax ID, and a list of what is included and excluded in the sale.
What’s Included:
All buildings and any gas, oil, or mineral rights you own
Fixtures and permanent improvements, unless you rent them
Built-in appliances like ovens, dishwashers, and cooktops
Lighting fixtures, both interior and exterior
Plumbing fixtures such as sinks, faucets, and showerheads
Water softeners and water treatment systems (if owned)
Heating and cooling components, including permanently attached AC units and furnaces
Electrical fixtures including wired lighting, fans, and smart home systems
Attached generators and fuel tanks
Antennas, satellite dishes, and their accessories
Smart home devices that are wired or built in
Remote controls for built-in or smart systems
TV wall mounting brackets (but not the TV itself unless agreed to)
Attached mirrors and shelving
Window coverings such as shades, blinds, shutters, curtain rods, and draperies
Awnings and any outdoor shading systems
Ceiling fans
Attached or installed flooring (like hardwood, tile, carpet)
Fireplace doors and screens
Garage door openers and remotes
Storm windows, storm doors, and screens
Landscaping, including plants and shrubs in the ground
Fences and installed yard features
Inground pool equipment and accessories
Invisible pet fencing systems and collars
Mailboxes
This section also includes space to write in anything else that stays or any specific items you want excluded.
3. Year Built – You must confirm if the home was built before or after 1978. If it was before, you’ll need to provide a lead-based paint disclosure.
4. Price & Terms – This section allows you to set the initial listing price of your home—the amount you hope to receive from a buyer. It also covers any specific terms you'd like to include, such as if you are willing to consider land contracts, delayed closings, or other buyer accommodations. It's important to understand that the listing price is not locked in and can be adjusted at any time with your written consent. In addition, this contract clearly states that you, as the seller, may cancel the agreement at any time for any reason—giving you full control and peace of mind throughout the process.
5. Commission – This section explains the fee you agree to pay Bay Realty Michigan once your home sells. The amount and how it’s structured are fully negotiable and will be clearly written in the listing agreement. You only owe this fee if we bring you a ready, willing, and able buyer, or if the home sells to someone we introduced while the listing was active.
The contract may also include a "protection period"—a defined number of days after the listing agreement ends—where commission would still be owed if a buyer we introduced during the listing later completes the purchase. This protects the agent from doing the work and a sale happening just after the contract expires.
6. Buyer Agent Compensation – This section allows you to decide whether to offer a portion of your listing commission to the agent representing the buyer. At Bay Realty Michigan, we generally recommend selecting Option D—meaning no commission is offered upfront to the buyer’s agent through the MLS. This strategy gives you greater flexibility and leverage during negotiations.
That said, it’s common for buyer agents to request commission payment as part of the offer their client submits. In most cases, this request will appear in the purchase agreement. Choosing not to offer commission upfront doesn’t prevent you from agreeing to it later as part of a negotiated deal.
This approach can help minimize upfront obligations while preserving the option to compensate the buyer’s agent if a deal is reached.
7. Seller Concessions – This section asks whether you, as the seller, are willing to offer concessions—such as covering part of the buyer’s closing costs—to help facilitate the sale. At Bay Realty Michigan, we generally recommend not offering concessions upfront, as doing so can reduce your net proceeds. However, it’s important to understand that buyer concessions are frequently requested during the negotiation process and may be presented as part of a purchase agreement. While you are not obligated to accept any concession request, being prepared to respond to them can help you navigate negotiations more effectively.
8. MLS Submission – Authorizes us to list your home on the MLS and provide the listing info to other platforms.
9. Title – Confirms that you promise to deliver clear ownership (title) to the buyer and that you’ll provide title insurance.
10. Default – Outlines what happens if either party doesn’t follow through. If the buyer backs out, you may owe us a portion of the forfeited deposit to cover costs.
11. Marketing – Lets us photograph and advertise your home in multiple ways, including placing a sign and marketing online.
12. Lockbox – Approves placing a lockbox on your door so licensed agents can show your home easily.
13. Liability – States that Bay Realty Michigan isn’t responsible for damages or losses during showings.
14. Inquiries – You agree to refer any potential buyers to us while your listing is active.
15. Additional Offers – After accepting an offer, we won’t present any others unless you specifically request us to.
16. Professional Advice – Reminds you that we are not lawyers, inspectors, or tax professionals. We recommend hiring experts as needed.
17. FIRPTA – States that you’ll confirm you're not a foreign seller (required for tax purposes).
18. Possession – Specifies how many days after closing you’ll move out, or if it’s subject to existing tenants.
19. Binding Agreement – This contract is binding to your heirs and successors.
20. Fair Housing – We both agree to comply with all anti-discrimination laws.
21. Buyer Letters – This section explains that we will not present buyer “love letters”—personal letters written by buyers to appeal emotionally to the seller. While these letters may seem harmless or even thoughtful, they can unintentionally reveal personal information such as race, religion, family status, or national origin. Considering this information when evaluating offers can violate federal or state Fair Housing laws. To protect both you and the brokerage from potential legal issues, Bay Realty Michigan has a policy not to forward or accept these types of letters as part of the offer process.
22. Showings & Conflicts – This section outlines how we may show your home to any potential buyers, including those we may also represent through another agent at Bay Realty Michigan. This is called dual agency or designated agency. If a buyer is represented by another agent within our brokerage, both you and the buyer are represented fairly and separately. If one agent represents both parties, we’ll notify everyone involved and proceed either as a dual agent (with limited duties to both parties) or as a transaction coordinator (facilitating the deal without representing either side). You will be informed of this structure before accepting any offer. Confidentiality and fairness remain a top priority in all situations.
23. Indemnification – Protects Bay Realty Michigan from liability related to showings or injuries on your property.
24. Seller Representations – You confirm all information you provide about the property is accurate.
25. Unplatted Lands – If your land hasn’t been split into lots before, this section covers how many divisions the buyer is allowed.
26. Seller Disclosure – You agree to provide a seller disclosure form unless the sale is exempt.
27. Surveillance – Warns that using audio surveillance during showings could violate wiretapping laws.
28. Time Limit – Any legal claim related to this contract must be made within 6 months of its end.
29. Electronic Signatures – You can sign and send this contract electronically—it’s just as valid as pen and paper.
30. Entire Agreement – This document includes all terms. Any previous verbal or written promises are replaced by this contract.
31. Signatures – Everyone listed on the title must sign. Copies and digital versions are acceptable.
32. Contract Flexibility – We add that sellers may terminate the agreement at any time.
33. Cancellation – The agreement can be revoked only if both sides agree in writing.
34. Receipt – Confirms you’ve read the agreement and received a complete copy.
If you have any questions about this agreement, we’re happy to walk through it with you. Our goal is to be transparent, helpful, and supportive throughout the selling process.