How long can you list your property?
MLS system requires only minimum 60 days listing period. Depending on your property type, this listing agreement can be more than 60 days. The listing period are specified by the realtor on the MLS agreement. It is important that you keep the listing period shorter. With longer listing period and time comes that you are not satisfied with the agent's performance and services, the listing agreement cannot be cancelled unless the listing agent and the listing broker agree to cancel it.
Read the contract carefully and ask what you are signing for when listing under MLS.
There is an expiration date on MLS agreement. You could be signing for 6 months or one year. IUnfortunately, if you are not happy with your real estate sales representatives' services, the broker or the agent may not permit you to cancel the agreement. You can always request to change the expiration date to 60 days. If you know the agent very well and you are willing to give the agent longer time, then this is all to your own decision.
Remember, this is a legal document.
Q: What is the difference between the Multiple Listing Service (MLS) and the consumer website MLS.ca?
A: The Multiple Listing Service is a cooperative system used only by REALTOR Members of Canada's real estate boards. It is accessible to any REALTOR Member who has agreed to represent your interests and share remuneration from the transaction with a cooperating REALTOR Member. The MLS contains detailed information and numerous search tools, all designed to match people with the properties that fit their exact requirements. MLS.ca is a website operated by the Canadian Real Estate Association (CREA) that displays an abbreviated version of most listings uploaded to the MLS system.
Q: What is a "Lockbox"?
A: A lockbox is a universal metal container for your house key that is hung on the front door and can only be opened by a special key or combination by licensed Sales Representatives. It provides access when the owner is away, thus assuring full exposure to prospective buyers.
Source: OREA (Ontario Real Estate Association) www.howrealtorshelp.ca