The first step toward putting your home up for sale is to meet with your REALTOR at your home. This meeting is referred to as the "listing appointment". Beforehand, it's also important to understand “who's who" and how brokers may co-operate to sell your home.
Listing Broker
An individual real estate broker whom the seller hires to represent themselves through a contract called a "listing agreement". The listing Sales Representative is associated with the listing broker. The listing broker is directly paid the listing commission and then splits the commission with the listing Sales Representative.
Selling Broker
An individual who produces a buyer for the property and divides the commission with a listing broker. Such a transaction is considered a "co-operative" sale because the house is listed by one broker and a buyer is provided by a second broker. If the listing broker also produces the buyer, then the listing broker receives both listing and selling sides of the commission.