Co Listing Agreement: Fill & Download for Free

Limited Review is the review of Financial Statements on Quarterly basis. Listed companies are required to conduct limited review through Statutory Auditors before submitting it to SEBI and before publishing unaudited financial statements in newspaper.Every listed co. under clause 41 of the listing agreement is required to furnish the unaudited quarterly result in quarterly manner in the prescribed format to the concerned stock exchange where the co. is listed within 45 days of the end of respective quarter. The co. shall intimate to the Stock Exchange within 15 minutes of the closure of board meeting in which unaudited/ audited financial statements are placed. Further co. has to publish its financial statements in one english newspaper and one regional language newspaper within 48 hours of board meeting.In simple language Limited Review(LR) is just like audit only but in Audit we perform Vouching, Verification, and we do in depth analysis of Financial Statements whereas in LR we go with Overall Analytical Procedures. The scope of LR is less in comparison to Audit.In other words, an audit is more in depth than a review, which only spans a lesser area.Please do upvote if you find this answer useful!

Based on the NYC median sale price of $1.7 million, home sellers in NYC pay an extra $73,100 in real estate commissions compared to home sellers in London. For such comparable cities to have vastly different real estate commission structures is simply astounding!Furthermore, it’s common in London for real estate agents to actually charge a lower commission for more expensive properties. This is clearly not the case in NYC, where more expensive units may even have higher commission amounts!We've compared NYC vs. London real estate commission rates in detail here: Why are New York City real estate commissions so high?The truth is that NYC home sellers don't need to pay 6% commission.NYC FSBO Sellers can save the full 6% by using a NYC flat-fee MLS service like Hauseit's NYC FSBO - Sell By Owner Broker Free in New York NY.Busy sellers who don't have time to sell FSBO can still save 3-5% in commission by using an Agent Managed Listing - Full Service for 1% - Save TimeNYC vs. London - Real Estate CommissionsAre you looking to sell your NYC condo, coop or townhouse and find yourself asking why New York City real estate commissions are so high?You’ll likely be both surprised and disappointed to learn that New York City is home to the highest residential real estate commission rates in the world – both compared to commissions charged in other comparable countries and compared to commissions charged in the rest of the USA.Since you may be in the process of considering your options as a home seller in New York City, it is helpful to know exactly why NYC real estate commissions are so high compared to cities like London, and what you can do about it to save your home equity and avoid paying 6% in NYC real estate commissions.Types of Full-Service Real Estate Representation in London vs. New York CityThe United Kingdom does not have the traditional ‘listing agent’ and ‘buyers agent’ like we have in the United States. Instead, UK sellers who are considering working with a full-service real estate agent must choose between the following options:Sole AgentHaving a Sole Agent represent you in the UK means that you will have just one agent acting on your behalf who will earn 100% of the commission being offered alongside your property. Because the likelihood of the agent earning your commission is higher (since there are no other agents in play), the real estate commissions charged are generally lower and in the range of 1% to 1.5%. Having a sole agent also means that you are not able to transact through a buyer represented by another agent. The concept of “co-broking” which is so strong in New York City (splitting the 6% commission between listing agent and buyers’ agent) does not exist in the UK under the sole agent listing agreement.Joint Sole AgentThe Joint Sole Agent structure in the UK is the closest thing to the traditional NYC listing agent under an Exclusive Right to Sell Listing Agreement with co-broking. Under the Joint Sole Agent arrangement, the seller hires two listing agents and agrees to split the commission equally between them. The idea behind this structure is to hire two agents who traffic in different buyers’ circles and have differing marketing strategies. With this setup, unlike the NYC Exclusive Right to Sell listing arrangement, if a buyer is found by either agent the commissions are split equally between both agents no matter what. NYC Listing Agents under an Exclusive Right to Sell agreement do not split the commission with buyers’ agent if the buyer was procured by the listing agent.Multiple AgentsA Multiple Agency Arrangement in the UK is just like a NYC Exclusive Right to Sell listing agreement with one minor difference: instead of there being a listing agent and a TBD buyer’s agent (if buyer is not found directly by the listing agent), there are 3 predetermined agents. Only the agent who finds the buyers gets paid any commission. Under this arrangement, all three agents are fiercely competitive with one another since it’s an all-or-none situation with regards to earning the real estate listing agent commission. The typical real estate commission under a multiple agency arrangement setup is 2.5%-3% of the sale price.Full-Service Listing Agreements in London vs. NYC Listing Agreements:Sole Selling RightsThis type of UK listing agreement binds the seller to pay the listing agent a commission even if the seller finds the buyer on his or her own. In that sense, it’s very similar to the commonplace NYC Exclusive Right to Sell listing agreement. A key difference between this agreement and the NYC Exclusive Right to Sell is that no other agents are allowed to sell your home. UK listing agents who have “Sole Selling Rights” keep the entire commission and have no obligation to share it with a buyers agent.Multi AgencyThis type of agreement is used for ‘multiple agency arrangements’, whereby a UK home seller offers to pay one commission to whichever of the agents finds the buyer. This is comparable to a New York City ‘open listing’.Ready, Willing & Able vs. Sole AgencyFor either a “Sole Selling Rights” or “Multi Agency” listing agreement, the document can be either a “ready, willing and able purchaser” or “sole agency” subtype. In the case of the former, this obligates the seller to pay a commission to the real estate agent who finds a buyer even if the seller decides not to go through with the sale. In the case of “sole agency”, the seller is permitted to procure a buyer on his/her own without being obligated to pay a commission to the agent.Quirks of London Real Estate Agents vs. NYC Real Estate AgentsSliding ScalesIt’s not uncommon in the UK and London for the real estate agent percentage commission rates to be on a sliding scale based on the sale price. If the property sells for a higher amount, then the commission rate steps up in bands. Conversely, if the property sells for a price on the lower end, then the real estate commission rate would bracket down. This is not common in NYC, however we think it’s actually a great idea because it incentivizes listing agents to maximize proceeds for the seller.The real problem with NYC full-service listing agents is that they have no real incentive to sell your home at the best possible price. NYC agents with 6% Exclusive Right to Sell listing agreements would prefer a quicker sale at $1.5 million to a sale at $1.55 million which takes 3 months longer.Why? Simply put, the agent prefers to get paid 6% ASAP on $1.5 million (earning $90,000) than spending an extra 3 months and risking the expiration of the listing agreement just to earn an extra $3,000 in commission for himself or herself.Commission based on Asking PriceBelieve it or not, in the UK some real estate agents attempt to charge a commission based on the asking price instead of the listing price. This nifty little trick is definitely not something we’ve heard of in NYC or ever want to see!Sales TaxCommission rates in the UK may be quoted either inclusive or exclusive of VAT (value added tax, or the rough equivalent of sales tax in the UK). Since the current rate of VAT in the UK is 20%, it’s critical for UK home sellers to know how their commission rate is being quoted. Otherwise, 1% could turn into 1.2% and 2% could turn into 2.4%, etc.!Why are Real Estate Commissions lower in London than in New York City?No MLS / Commission SplittingSince the custom in the UK is to have one agent represent both buyer and seller, there is no commission splitting. If only one agent needs to be paid for each transaction, then it somewhat makes sense why commission rates in the UK are roughly half of those which are charged in the US, where both listing agent and buyers’ agent split the commission. However, the quirk here is that under a NYC ‘Exclusive Right to Sell’ listing agreement, the listing agent has the potential to earn the entire 6% commission if he/she finds a buyer or if the owner finds the property by himself or herself. The opportunity to earn such a huge real estate commission on a residential property deal does not exist in London or the United Kingdom.

A co-listing is an agreement between real estate firms (AKA brokerages) to work together on the listing of a property. Co-listings can arise for a variety of reasons but are most common on high-end properties or commercial real estate. Co-listings can benefit the property owner by getting “two firms for the price of one.”Firms may work together on a high-end sale to attract the most clients. For example, Firm A may work with buyers in a particular area, while Firm B may attract buyers from a separate area. Co-listings may also be common in commercial real estate where each firm may work with a particular type of buyer. In a multi-use development, Firm A may work with retail clients while Firm B works with clients looking for office space.