How Long Should a Real Estate Listing Contract Be in Oregon?

When deciding to sell your home in Oregon, one of the primary considerations is the durations of the listing agreement with your real estate agent. This decision is crucial as it determines how long your property will be on the market under the guidance of a particular agent.

Common Listing Durations: In Oregon, the most prevalent listing durations are 90 days and six months. While the choice ultimately rests with the homeowner, real estate agents usually won't accept listings for less than 90 days. The most common choices among sellers are the 90-day or six-month listings. It's essential to understand that once you sign a listing agreement, it becomes a legally binding contract. This means you are obligated to pay your agent a commission if they sell your home within the agreed-upon timeframe.

Why Six Months is Common: six-month listing is often recommended, especially if the average Days on Market (DOM) in your area exceeds 60 days. This suggests that you're in a buyer's market, and selling your home might take a bit longer. One advantage of a six-month listing is that it's less likely to expire while your home is in escrow. However, a potential downside is that if you're dissatisfied with your agent's performance after the first three months, you're still committed to them for another three. To mitigate this always ask for a cancellation clause that allows you to terminate the contract if you're unhappy with the agent's services.

The Importance of a Cancel Anytime Policy: While a six-month listing is common, it's crucial to ensure that you're not locked in for the entire duration without any flexibility. A cancel anytime policy or a cancellation clause is beneficial for homeowners. This clause protects you from being stuck with an agent whose performance is subpar. If an agent is hesitant to include such a clause, it might indicate a lack of confidence in their ability to sell your home.

Final Thoughts: While six months is a popular duration for a real estate listing contract in Oregon, homeowners should always prioritize flexibility and not getting locked in. By ensuring a cancel anytime policy is included in the agreement, sellers can maintain control over the selling process and make changes if necessary. Work with a top agent in the Portland Metro Jeremy Wilkerson 1.25% listing commission. Cancel anytime policy, direct service providers list, increased marketing exposure on over 10,000+ websites, professional photography and more!