The Texas Real Estate Listing Agreement Protection Period
If you`re planning on selling your home in Texas, you`ll likely need a listing agreement with a real estate agent. This agreement outlines the terms of the agent`s services, as well as the terms of your relationship with them. One important aspect of a Texas real estate listing agreement is the protection period, which can impact your ability to sell your home on your own.
What is a protection period?
In Texas, a protection period is a period of time after your listing agreement with a real estate agent has expired. During this time, if you sell your home to someone who was introduced to it by your agent during the listing period, you may still owe the agent a commission.
This protection period is intended to protect the real estate agent`s interests. After all, if they spend time and money marketing your home, they want to be sure they`ll be compensated if it eventually sells.
How long is the protection period in Texas?
The protection period in Texas is typically 180 days following the expiration of your listing agreement. However, the length of the protection period can be negotiated between you and your agent.
It`s important to note that the protection period only applies to potential buyers who were introduced to your home during the listing period. If you find a buyer on your own, you won`t owe your agent a commission.
To avoid any misunderstandings or disputes, it`s important to have a clear understanding of the protection period and other terms of your listing agreement with your real estate agent.
What if you want to sell your home on your own?
If you decide to sell your home on your own after your listing agreement with a real estate agent has expired, make sure to keep detailed records of any potential buyers you interact with. If someone contacts you about your home after seeing it during the listing period, you may need to prove that they weren`t introduced to it by your agent in order to avoid owing a commission.
Additionally, if you plan to sell your home on your own, consider negotiating a shorter protection period with your agent. This can give you more flexibility and make it easier to sell your home on your own if you choose to do so.
The protection period is an important aspect of any Texas real estate listing agreement. If you`re planning to sell your home with the help of a real estate agent, make sure you understand the protection period and other terms of your agreement. And if you`re considering selling your home on your own, be aware of the potential impact of the protection period on your ability to do so.