Instructions for Term Paper Part 5 – Listing Agreement
Term paper prep activity #5. Today, you will do something new and different from the previous assignments. You will be writing a listing agreement (RLA) on behalf of your seller clients! Read and follow the instructions below. You will need this completed RLA for your term paper, “My Plan to Pass the Real Estate Exam”. Scroll down to the end for video examples!
At the end of Page 5, remember to insert your name Master Muhammad as the listing agent (this is how you get paid your commission!). Always capitalize the first letter of ALL names, first and last, even your own name.
Step 1. Download Mock Data
The mock data contains all the information you need to complete the Residential Listing Agreement form.
- Download the mock data and print it out or save to your computer: Download BRE 100 Seller Listing Profile Data.docx
Step 2. Access the Online RLA form
We will be using the RLA form (Residential Listing Agreement) from the California Association of Realtors (C.A.R.). The form is accessible online, and you should be able to enter your data from any type of computer or tablet. The link takes you to my PDFfiller site.
- Click this link to access my form in PDFFiller:
Step 3. Complete the RLA Form by Typing Text in the Blank Fields
I recommend opening both the mock data and the RLA form on your computer, side by side. Then, you can copy and paste the data into the form.
Reference the textbook from Huber, chapter 4, to complete this form. NOTE: If you have the Huber textbook for BRE-101, please reference chapter 4 in that textbook for step-by-step instructions. Use the mock data to complete the RLA form. Ensure you complete all blank fields, adding “n/a” (not applicable) to any fields that do not require a response. FOLLOW THE DIRECTIONS IN YOUR TEXTBOOK, CHAPTER 4. Note there is a listing agreement package (several forms) as we learned in class; however, for this assignment, you will only be completing the primary form (RLA). Refer to the examples in the multimedia presentations shown below (scroll down).
FURTHER DIRECTIONS TO COMPLETE FORM:
- Pages 1-5: use the mock data provided in the “BRE 100 Seller Listing Profile Data.docx” document above.
- Any data not provided — you can create your own mock data.
IN ADDITION TO THE MOCK DATA, FOLLOW THE DIRECTIONS BELOW:
- Use an “X” mark to select boxes when needed.
- Insert “N/A” (for “Not Applicable” into any blank fields).
- Page 1: insert BOTH sellers’ complete names in the top line
- Pages 1-4: insert sellers’ initials at the bottom of each page.
- Page 2: insert sellers’ initials at the bottom of the MLS disclaimer section.
- Pages 2-5: include full property address at the top of each page.
- Pages 2-5: include date at the top right of each page.
- Page 5: insert the sellers’ names underneath, or on the right side of, each signature line with the “X”. Insert their addresses underneath their names.
- Page 5: insert your name as the listing agent at the bottom, in the “By” line.
DATA. Please download and save to your computer. This is where you will find the data to copy and paste into the form.
NAMES. At the top of Page 1, insert both sellers’ names on item #1. Always capitalize the seller’s names.
APN. On page 1 near the top right, be sure to insert the property’s Assessor Parcel Number (APN). You will find this on the Seller Data Sheet.
LIST PRICE. On the first page, the list price should be in line with an actual house being listed for sale. The current average housing list price in the high desert is approximately $330,000. Of course, your listing can be higher or lower, but it cannot be $1,000 (for example) as that is unrealistic.
COMMISSION. Also on the first page, the compensation is on Page 1, in item # 3A. This is how much the seller will pay you, which is typically between 5% and 7% of the purchase price. This is the total commission (see below).
COOP COMMISSION. On page 1, Item # 3D(1) is how much of your commission you will pay to the buyer’s agent. It is typically half of your commission amount. You would subtract the coop commission from the total commission, and that is what you will earn as the listing agent. Make sense? You cannot share the same amount of compensation with the broker’s agent as you are receiving in Item # 3A. That will leave you with ZERO commission! A typical commission on link # 3A is between 5% to 7%. The amount you would share with the buyer’s agent would usually be half of that amount. For example, you would not want to collect 6% commission and then simultaneously pay 6% to the coop agent as that would leave you with 0%. Your total commission would need to be higher than the coop commission.
PROPERTY ADDRESS. Pages 2, 3, and 4 need the property address at the top of each page.
SELLER SIGNATURE. On Page 5, please insert the seller’s names underneath their signature lines and addresses following under.
LISTING AGENT. At the end of Page 5, remember to insert your name Master Muhammad as the listing agent (this is how you get paid your commission!). Always capitalize the first letter of ALL names, first and last, even your own name.
Step 4. Save Your Completed RLA Form to Your Computer as a PDF Document
Once you complete entering your mock data in the RLA form, save it to your computer as a PDF file. Re-name it to include your name in the document title. The completed document will be saved and submitted here as a PDF document attachment. Remember to SAVE a copy to your computer as the first part of your final paper.
Step 5. Submit Your Assignment
Click the “Submit” button in the top right corner of this assignment. Upload your PDF document file, and then click the “Submit Assignment” button again at the bottom.
P.S. Your completed RLA will be inserted in your final paper, “My Plan to Pass the Real Estate Exam”, as the appendix.
NOTE: IF YOU CANNOT ACCESS THE ONLINE SITE, YOU CAN DOWNLOAD AND COMPLETE YOUR OWN PDF FORM. DOWNLOAD SAMPLE RLA FORM AND SAVE TO YOUR COMPUTER AS A PDF FILE
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