TYPES OF LISTINGS
There Are Four Basic Listings in Saskatchewan
Seller's MLS Brokerage Contract
This is the most common type of listing where a contract between a seller and a brokerage is signed and the brokerage lists and advertises the property on the behalf of the seller. It has the potential to reach the most number of interested buyers using MLS but also has the potential to cost the most as the commission is split between the seller's brokerage and the buyer's brokerage.
A seller grants exclusive authority to one brokerage to list, sell and find a buyer without MLS. The brokerage uses its own contacts and advertising to find a buyer for the property. Since only one brokerage is used and the commission is not split with another agent, the seller may be given a deal on the real estate listing fees.
The least common listing, the open listing allows a brokerage to list a property for a seller, but if the listing brokerage is not the brokerage to find a buyer then they do not receive any commission. Since there is no guarantee the listing brokerage will receive any commission for their work, this type of listing is rarely used.
A mere posting is basically a service agreement between a seller and a brokerage where the seller provides pictures and data to an agent who then posts the property on MLS. A flat fee is charged upfront and the agent is not responsible for showing the property or finding a buyer. This type of listing is good for people on a budget who want to reach a lot of potential buyers and who have the time to show the property themselves.