A listing agreement is the contract between a property owner and a broker authorizing the broker to market and negotiate the sale of the property. Typical LA multifamily listing terms: 6–12 months exclusive.
Listing agreements establish commission, term length, marketing rights, seller obligations, and termination provisions. Exclusive listings are standard in LA multifamily — the broker has exclusive rights to market and collect commission regardless of who brings the ultimate buyer.
LA multifamily listing agreements typically run 6–9 months exclusive. Commission ranges 3–6% depending on deal size and complexity. Termination provisions matter — ensure the listing allows termination for cause with reasonable notice.
From the Sterman LA Multifamily Glossary — defined the way a broker with $1.41 billion across 254 closed transactions actually uses these terms.
Michael Sterman, Senior Managing Director Investments, Marcus & Millichap.
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