The standard listing agreement is a basic standardized form that is used by real estate agents for residential purchases.
One problem with the standard listing agreement is that it cannot be used for commercial real estate transactions. Commercial transactions are more complex than residential transactions, and banks require significantly more documents for commercial transactions.
There are many pitfalls with the standard listing agreement because it is a basic document that provides no customization for the client. If more information or contingencies are necessary in the paperwork, such as seller financing or a land contract, a custom agreement may be a better option.
Fortunately, The Law Firm of Amy R. Turos is able to draft agreements at our offices that are better suited for your situation and customized to fit your specific real estate needs.