Types of

agency and
listing
contracts
Learning outcomes

Explain the types Explain gazumping

of agency and and problems
listing contracts. with agency.
Buyers’/Sellers’ Needs

Sellers have two competing objectives:

• Quick sale of the property

• Obtain the highest price possible

Buyers have two objectives:

• Obtain a property that meets specific criteria

• Location, physical size, quality of physical improvement etc.
• Conclude a purchase in a timely manner
• Obtain the lowest price possible.
Types of Agency
• The various types of agency include
• Owner/Seller Agency
• Sub-agency
• Buyer Agency
• Single Agency
• Dual Agency
Types of Agency

Owner/Seller Agency

• An agent represents an owner/seller of property

• Also known as listing

Sub-agency

• When seller’s agent contracts with another broker to represent the interest of the principal.
• Commission is split between the listing agent and the agent who sells the property

Buyer Agency

• An agent represents a buyer’s interest

Types of Agency

Single Agency

• Represents only one client

Dual Agency

• Represents both buyer and seller.

• Broker owes equal loyalty to both buyer and seller.
• Dual agency must be disclosed to all parties in the transaction.
• The biggest problem with dual agency is undivided loyalty.
 Listing
Contracts
Types of
Listing
Contracts
Types of
Listing
Contracts
Types of
Listing
Contracts
Types of
Listing
Contracts
 There can be a
Breach of breach in a listing
a Listing agreement.

Contract
Breach
of a
Listing
Contract
Gazumping
Time on
Market
Problems
with
Agency