Buying a Home in Hawaii February 15, 2023

What is a Hawaii Listing Agreement?

A Hawaii listing agreement is a contract between a real estate broker and a property owner, authorizing the broker to market and sell the property on the owner’s behalf. The agreement sets out the terms and conditions of the listing, including the listing price, commission rate, and marketing plan.

The Hawaii Association of Realtors has approved a standardized Hawaii Exclusive Right-To-Sell Listing Agreement, which is commonly used by real estate brokers in Hawaii. This agreement includes the following key elements:

  1. Listing Price: This section sets out the listing price for the property, which may be determined by the broker or agreed upon by the broker and the property owner.
  2. Commission Rate: This section outlines the commission rate that the broker will receive for selling the property. The commission is typically a percentage of the final sale price and is split between the listing broker and the buyer’s broker.
  3. Listing Term: This section establishes the length of time that the property will be listed for sale. This term is usually three to six months, although it can be longer or shorter depending on the agreement between the broker and the property owner.
  4. Marketing Plan: This section outlines the marketing activities that the broker will undertake to sell the property, such as advertising, open houses, and online listings.
  5. Property Description: This section describes the property being listed, including the address, legal description, and any notable features.
  6. Owner Representations: This section requires the property owner to represent that they have the authority to sell the property, and that there are no liens or other encumbrances on the property.
  7. Signatures: The listing agreement is signed by the property owner and the broker, and may also include signatures from any co-owners or spouses.

It’s important to carefully review the terms and conditions of a Hawaii listing agreement before signing, and to seek the advice of a real estate attorney or agent if you have any questions or concerns. The listing agreement is a legally binding document, and it’s important to ensure that all parties understand and agree to the terms.