Docstoc Legal Agreements
This Exclusive Right to Sell Real Property is a commonly utilized instrument which is
intended to give the broker the exclusive right to earn a commission by procuring a buyer
for the real property listed by the owner. The purpose of this agreement is to prevent
homeowners from changing brokers while the current broker is working to sell the property.
Violation of this agreement entitles the original broker to his or her original commission.
This document should be used by real estate brokers located in Minnesota to ensure that
they will be paid commission on the sale of a real property.
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EXCLUSIVE RIGHT TO SELL REAL PROPERTY
This Exclusive Right to Sell Agreement Real Property (“Agreement”), is entered into this ____
[Month] ____ [Date], 20____ by and between __________________________ [Instruction:
Insert the name of owner], (hereinafter referred to as the “Owner”) and
__________________________ [Instruction: Insert the name of agent],( hereinafter referred
to as the “Broker”). Owner and Broker may collectively be referred to as the “Parties”. For and
in consideration of Broker's services to be rendered in listing for sale and in undertaking to sell
or find a purchaser for the property (hereinafter described as the “Property”), the Parties
understand and agree that this is an exclusive listing to sell the Property located at:
[Instruction: Insert the location of the Property]
The minimum selling price of the Property shall be ________ ($___) [Instruction: Insert
minimum selling price of the property E.g., Five thousand dollars only ($ 5,000)], payable
on the following terms:
Broker is authorized to accept and hold a deposit in the amount of ________ ($___)
[Instruction: Insert security deposit amount E.g., Fifty dollars only ($ 1,000)] as a deposit
and to apply such deposit on the purchase price.
If said Property is sold, traded or in any other way disposed of by Broker or by anyone else
within the time specified in this listing, it is agreed to and understood that Broker shall receive
from the sale or trade of said Property as Broker's commission ________ (___ %) [◊ Two
percent (2%)] [Instruction: Insert percentage of commission of the broker] of the purchase
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Should said Property be sold or traded within ___________ (___) [◊ Thirty (30)] days, after
expiration of this listing Agreement to a purchaser with whom Broker has been negotiating for
the sale or trade of the Property, then said commission shall be due and payable on demand.
Owner agrees to furnish a certificate of title showing a good and merchantable title of record,
and further agrees to convey by good and sufficient warranty deed or guaranteed title on
payment in full.
The listing contract shall continue until midnight of ____ [Month] ____ [Date], 20____.
[Instruction: Insert the signature of Owner]
I accept this listing and agree to act promptly and diligently to procure a buyer for said Property.
____ [Month] ____ [Date], 20____.
[Instruction: Insert the signature of Broker]
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