RLA Basics
This California Association of REALTORS® form gives a broker the exclusive authorization and right to sell a property.
What is the Residential Listing Agreement?
This form, often attached to the RLA, provides sellers with guidance on legal duties and potential risks in the sales process.
What is the Seller’s Advisory?
This section allows the seller to list items that are not included in the sale of the property.
What is the Exclusions section?
This annual day of service sees KW associates volunteer in their communities, often wearing red shirts.
What is RED Day (Renew, Energize, Donate)?
In California, escrow is handled by this neutral third party who ensures all conditions of the sale are met before closing.
What is the Escrow Officer (or Escrow Holder)?
This is the maximum number of months a listing period can last for a one-to-four-unit residential property owned by individuals or families.
What is 24 months?
This paragraph describes how much the broker will be paid and under what circumstances
What is the Compensation section?
This section allows the seller to list items that are included in the sale of the property.
What is the Inclusions section?
This phrase represents KW’s mission to build careers worth having, businesses worth owning, and lives worth living.
What is the Mission Statement?
This is the first deposit of money the buyer places into escrow to show good faith.
What is the Earnest Money Deposit?
This section of the RLA sets the start and end dates for the listing period.
What is the Term of the Agreement section?
This section details how the property will be marketed, including use of the MLS and online advertising.
What is the Marketing section?
This form, sometimes paired with the RLA, limits broker advertising of the property’s address or details online.
What is the Seller Instruction to Withhold Listing from Internet form?
This leadership model encourages agents to take ownership roles and guide the culture of their Market Center.
What is the Associate Leadership Council (ALC)?
In California, the escrow process typically begins after these two parties have signed a purchase agreement.
Who are the buyer and seller?
This clause allows a broker to collect a commission if a buyer who saw the property during the listing buys it after the listing ends.
What is the Safety Clause (or Protection Period)?
This addendum allows the broker to market the property without entering it in the MLS for a set period.
What is the “Seller Instruction to Exclude Listing from the MLS” form?
This paragraph outlines how disputes between the seller and broker will be resolved, often including mediation and arbitration.
What is the Dispute Resolution section?
This system of support and accountability is built on mentoring new agents until they close their first few transactions.
What is the Productivity Coaching Program?
These are the detailed written instructions given to the escrow company by both buyer and seller.
What are Escrow Instructions?
This section explains the seller’s obligation to disclose all material facts that might affect the value or desirability of the property.
What is the Seller’s Disclosure obligation?
This type of RLA ensures the broker gets paid whether or not they personally find the buyer.
What is an Exclusive Authorization and Right to Sell?
This section explains the seller’s obligation to provide the broker with access to the property for showings, inspections, and appraisals.
What is the Seller’s Access to Property provision?
This founder of KW is known for co-authoring The Millionaire Real Estate Agent and building the company’s models and systems.
Who is Gary Keller?
This is the final step in escrow when funds are disbursed, documents are recorded, and ownership officially transfers.
What is Closing (or Settlement)?