Docstoc

Seller Agency Agreement

Document Sample
Seller Agency Agreement Powered By Docstoc
					Seller Agency Agreement
This Seller Agency Agreement is between a real-estate broker and a seller that wants to
use the broker’s services. It is vital to get these agreements in writing to ensure that the
understandings of both parties are properly set forth. Customize the information of the
parties, the property’s address, the listing price, the commission percentage, and more.
This agreement can be used by individuals or small businesses that want to sell
property using a licensed broker.
                                 SELLER AGENCY AGREEMENT

THIS SELLER AGENCY AGREEMENT (hereinafter referred to as the “Agreement”) is
made and entered into as of __________________, [Instructions: Insert the date of this
agreement] by and between ________________________ [Instructions: Insert the Seller’s
name] (hereinafter referred to as the “Seller”), of _________________________________
[Instructions: Insert the Seller’s address] and ________________________ [Instructions:
Insert the Broker’s name] (hereinafter referred to as the “Broker”), of
_________________________________. [Instructions: Insert the Broker’s address]

WHEREAS, Seller desires to engage a real estate broker to sell Seller’s real property located at
____________________________ [Instructions: Insert address of the property subject to
this agreement] (hereinafter referred to as the “Property”);

WHEREAS, Broker is a real estate broker, licensed to practice real estate in the State of
_______________________ [Instructions: Insert the state that Broker is licensed] with
experience selling real property in Seller’s area;

WHEREAS, Seller desires to engage Broker to sell the Property; and subject to the terms and
conditions contained herein, Broker desires to accept such engagement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth
below, it is hereby covenanted and agreed by the parties as follows:

1.       BROKER’S ENGAGEMENT

       a.      Seller hereby employs Broker and grants to Broker the exclusive and irrevocable
agency right to sell or exchange the Property, for a period of __________ (___) [Instructions:
Insert the number of months this agreement will last] months commencing as of the date
hereof (the “Listing Period”). The parties may elect to extend the Listing Period, provided that
they execute a signed writing indicating the duration of the extension.

       b.      During the Listing Period (and/or any agreed extension), Broker agrees to
exercise reasonable effort and due diligence to achieve the purposes of this Agreement. Unless
otherwise instructed in writing by Seller, Broker may:

                 i.         Order reports and disclosures as are reasonably necessary.

              ii.       Advertise and market the Property by any method and in any medium
selected by Broker, including multiple listing service (“MLS”) and the Internet. In order to
effectively market the Property, Seller agrees that Broker may photograph or otherwise
electronically capture images of the exterior and interior of the Property (“Images”) for static
and/or virtual tours of the Property by buyers and other on Broker’s website, the MLS, and other
marketing sites. Seller acknowledges that once Images are placed on the Internet neither Broker
nor Seller has control over who can view such Images and what use viewers may make of the
Images, or how long such Images may remain available on the Internet. Seller further


© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                  2
acknowledges that prospective buyers and/or other persons coming onto the property may take
photographs, videos or other images of the property. Seller understands that Broker does not
have the ability to control or block the taking and use of Images by any such persons.

             iii.      Disclose to any real estate licensee making an inquiry the receipt of any
offers on the Property and the offering price of such offers.

               iv.          Install a “For Sale” sign and later a “Sold” sign on the Property.

              v.       Install a key-safe or lockbox that permits access to the Property by Broker,
other cooperating brokers, appraisers, inspectors, and accompanied prospective buyers, provided
that Broker shall not be responsible for loss of or damage to personal or real property, or person,
whether attributable to use of a key-safe or lockbox, a showing of the Property, or otherwise.
Seller agrees to take reasonable precautions to safeguard and protect valuables on the Property
and to obtain insurance to protect against these risks. Broker does not maintain insurance to
protect Seller.

       c.      Broker shall offer the Property in compliance with all federal, state and local anti-
discrimination laws.

        d.     Seller agrees to consider offers presented by Broker, and to act in good faith to
accomplish the sale of the Property by, among other things, making the Property available for
showing at reasonable times and referring to Broker all inquiries of any party interested in the
Property. Seller is responsible for determining at what price to list and sell the Property. As of
the date hereof, Seller desires for the Property to be listed at: __________ Dollars ($________)
[Instructions: Insert the property’s listing price] (the “Listing Price”). Seller may change the
Listing Price at any point during the Listing Period, by providing Broker with written notice of
such change.

2.       BROKER’S COMMISSION

       a.     Seller agrees to pay to Broker, as compensation for services rendered hereunder, a
commission of __________ percent (___%) [Instructions: Insert the Broker’s commission
percentage] of the purchase price of the Property (the “Broker’s Commission”). The parties
understand that compensation and fees payable to brokers are not fixed by law and instead are
negotiable between sellers and brokers. The parties hereto have negotiated the Broker’s
Commission and agree that the Broker’s Commission represents a fair and bargained for
compensation for Broker’s services.

         b.          Broker shall be entitled to Broker’s Commission if:

               i.       A buyer offers to purchase the Property at or above the Listing Price, or at
any price and terms acceptable to Seller during the duration of the Listing Period (and/or during
any agreed extension), regardless of whether escrow resulting from such offer closes during or
after the expiration of the Listing Period.




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                      3
             ii.       Seller enters into a contract to sell, convey, lease or otherwise transfer the
Property to any person who physically entered and was shown the Property during the Listing
Period (and/or any agreed extension), provided that such contract is entered into within
__________ (___) [Instructions: Insert the number of days after termination of this
agreement that Broker will receive commission if the property is sold] days following: (1)
the termination of the Listing Period (and/or during any agreed extension), or (2) the cancellation
of this Agreement.

            iii.        Without Broker’s prior written consent, the Property is withdrawn from
sale, conveyed, leased, rented, otherwise transferred, or made unmarketable by a voluntary act of
Seller during the Listing Period.

        c.     Seller hereby irrevocably assigns to Broker the Broker’s Commission from
Seller’s funds and proceeds in escrow. Broker may submit this Agreement, as instructions to
compensate Broker, to any escrow regarding the Property involving Seller and a buyer.

       d.     Seller authorizes Broker to cooperate with other brokers, provided that such
cooperation will not increase the aggregate broker’s commission payable by Seller.

        e.       If completion of the sale is prevented by a party other than Seller, then the
Broker’s Commission shall be payable only if and when Seller collects damages by suit,
arbitration, settlement, or otherwise, and then in an amount equal to the lesser of (i) __________
percent (___%) [Instructions: Insert the percentage of Seller’s damages or settlement the
Broker will receive] of the damages recovered (after first deducting title and escrow expenses
and the expenses of collection, if any); or (ii) the Broker’s Commission amount.

3.       AGENCY RELATIONSHIPS

        a.      Depending upon the circumstances, it may be necessary or appropriate for Broker
to act as an agent for both Seller and the buyer. Broker shall, as soon as practicable, disclose to
Seller any election to act as a dual agent representing both Seller and buyer. Seller consents to
Broker collecting compensation from both Seller and buyer for services rendered, provided there
is disclosure to all parties of such agency and compensation. Seller understands and agrees that:
(i) Broker, will not disclose to buyer that Seller is willing to sell the Property at a price less than
the Listing Price without Seller’s prior written consent; (ii) Broker will not disclose to Seller that
Buyer is willing to pay a price greater than the offered price, without Buyer’s prior written
consent; and (iii) except as otherwise provided herein, a dual agent is obligated to disclose
known facts materially affecting the value or desirability of the Property to both parties.

        b.      Seller understands that Broker may have or obtain listings on other properties, and
that potential buyers may consider, make offers on, or purchase through Broker, property similar
to Seller’s Property. Seller consents to Broker’s representation of sellers and buyers of other
properties before, during and after this Agreement.

4.       REPRESENTATIONS, WARRANTIES, INDEMNIFICATION




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                    4
         a.           Seller represents and warrants that:

                 i.          Seller is the owner of the Property;

                ii.          no other persons or entities have title to the Property;

            iii.      Seller has not previously entered into a seller agency agreement with
another broker regarding the Property;

            iv.              Seller has no obligation to pay compensation to any other broker regarding
the Property;

            v.         Seller is unaware of any of the following, and shall promptly notify
Broker in writing if Seller becomes aware of any of the following during the Listing Period or
any extension thereof:

                             1.      Notice of Default recorded against the Property;

                        2.     Delinquent amounts due under any: loan secured by, or other
obligation affecting, the Property

                             3.      Bankruptcy, insolvency or similar proceeding affecting the
Property;

                         4.       Litigation, arbitration, administrative action, government
investigation or other pending or threatened action that affects or may affect the Property or
Seller’s ability to transfer it; and/or

                             5.      Current, pending or proposed special assessments affecting the
Property.

               vi.           Seller has the authority to both execute this Agreement and sell the
Property

        b.      Seller agrees to indemnify, defend and hold Broker harmless from all claims,
disputes, litigation, judgments and attorney fees arising from (i) Seller’s breach, in whole or in
part of the representations or warranties made by Seller in this Agreement; (ii) any incorrect
information supplied by Seller; and/or (iii) from any material facts that Seller knows but fails to
disclose.

5.       MISCELLANEOUS

       a.     This Agreement constitutes the entire agreement between the parties hereto with
respect to the specific subject matter hereof and supersedes all prior agreements or
understandings of any kind with respect to the specific subject matter hereof.




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                    5
       b.       In the event that any provision or part of this Agreement shall be deemed void or
invalid by a court of competent jurisdiction, the remaining provisions or parts shall be and
remain in full force and effect.

       c.      Any and all additions, deletions, or modification to this Agreement must be in
writing and signed by the parties or it shall have no effect and shall be void.

        d.      This Agreement is binding upon and shall inure to the benefit of the respective
successors, licensees and/or assigns of the parties hereto. Notwithstanding the foregoing, neither
party may assign or transfer its rights or delegate its obligations under this Agreement without
the other party's prior written consent, which consent will not be unreasonably withheld.

         e.    This Agreement shall be governed in accordance with the laws of the State of
______________________ [Instructions: Insert the state’s laws that will govern this terms of
this agreement] applicable to agreements to be wholly performed therein, without giving effect
to its laws governing conflict of laws.

IN WITNESS WHEREOF the parties have duly executed this Agreement as of the date first
written above.

SELLER                                                           BROKER
__________ [Instructions: Insert name]                           __________ [Instructions: Insert name]



__________________________                                       __________________________
By: Authorized Signatory                                         By: Authorized Signatory




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                        6
INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND
INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS
FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL DOCSTOC, INC., OR ITS AGENTS, OFFICERS, ATTORNEYS,
ETC., BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF
PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE
THE MATERIALS, EVEN IF DOCSTOC HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. They are for
guidance and should be modified by you or your attorney to meet your specific needs and the laws of your state or jurisdiction. Use at
your own risk. Docstoc® is NOT providing legal or any other kind of advice and is not creating or entering into an Attorney-Client
relationship. The information, reports, and forms are not a substitute for the advice of your own attorney. The law is a personal matter
and no general information or forms or like the kind Docstoc provides can always correctly fit every circumstance.

Note: Carefully read and follow the Instructions and Comments contained in this document for your customization to suit your specific
circumstances and requirements. You will want to delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”)
after reading and following them. You (or your attorney) may want to make additional modifications to meet your specific needs and the
laws of your state. The Instructions and Comments are not a substitute for the advice of your own attorney.

◊ Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,” or something similar, or
there is a blank for the user to complete, please note that although Docstoc believes the information or number may be any that the user
chooses, and that there is no law governing what the information or number should be, you might want to verify this, including by
consulting with your own attorney practicing in your state. Because the law is different from jurisdiction to jurisdiction and the laws are
subject to change, Docstoc cannot guarantee—and disclaims all guarantees—that it is correct for the information or number to be
anything that the user chooses.

The information, forms, instructions, tips, comments, decision tree alternatives and choices, reports, and services in and through Docstoc
are not legal advice, but are general information / forms on general issues often encountered designed to help Docstoc users, members,
purchasers, and subscribers address their own needs. But information, including tips, general forms, instructions, comments, decision
tree alternatives and choices, and reports, no matter how seemingly customized to conform to the laws and regulations applicable to you,
is not the same as legal advice, which may be the specific application of laws and regulations by lawyers licensed to practice law in your
state to the specific circumstances and needs of individuals and entities. Some states, counties, municipalities, and other governmental
divisions, have highly specific laws and regulations, and our information / forms / reports may not take all those specific laws and
regulations into consideration, although we tried to do so.

Docstoc is not a law firm and the employees and contractors (including attorneys, if any) of Docstoc are not acting as your attorneys, and
none of them are a substitute for the advice of your own attorney licensed to practice law in your state. The employees or contractors of
Docstoc, who wrote or modified any form, instructions, tips, comments, decision tree alternatives and choices, and reports, are NOT
providing legal or any other kind of advice and are not creating or entering into an Attorney-Client relationship. Any such form,
instruction, tips, comments, decision tree alternatives and choices, and reports were most likely NOT prepared or reviewed by an
attorney licensed to practice law in your state, and, therefore, the employees or contractors could not provide you with legal advice even
if they or Docstoc wanted to. Even though we take every reasonable effort to attempt to make sure our information / forms / reports are
accurate, up to-date, and useful, we recommend that you consult a lawyer licensed to practice law in your state if you want professional
assurance that our information, forms, instructions, tips, comments, decision tree alternatives and choices, and reports; your
interpretation of it or them; and the information and input that you provide are appropriate to your particular situation. Application of
these general principles and wording to particular circumstances should be done by a lawyer who has consulted with you in confidence,
learned all relevant information, and explored various options. Before acting on these general principles and general wording, you might
want to hire a lawyer licensed to practice law in the jurisdiction to which your question pertains. The information, forms, instructions,
tips, comments, decision tree alternatives and choices, and reports, available on and through Docstoc are not legal advice and are not
guaranteed to be correct, complete, accurate, or up-to-date. Because the law is different from jurisdiction to jurisdiction, they are subject
to changes, and there are varying interpretations and applications by different courts and governmental and administrative bodies, and
Docstoc cannot guarantee—and disclaims all guarantees—that the information, forms, and reports on or through the site and services are
completely current or accurate. Please further note that laws change and are regularly amended; therefore, the provisions, names, and
section numbers of statutes, codes, or regulations, and the types of permits or licenses within any forms or reports, may not be 100%
correct, as they may be partially or wholly out of date and some relevant ones may have been omitted or misinterpreted.
Docstoc is not permitted to engage in the practice of law. Docstoc is prohibited from providing any kind of advice, explanation,
opinion, or recommendation to a consumer about possible legal rights, remedies, defenses, options, selection, or completion of
forms or strategies.
Communications between you and Docstoc may be protected by our Privacy Policy (http://premium.docstoc.com/privacypolicy), but are
NOT protected by the attorney-client privilege or work product doctrine since Docstoc is not a law firm and is not providing legal
advice. No Docstoc employee, contractor, or attorney is authorized to provide you with any advice about what information
(again, which includes forms) to use or how to use or complete it or them.

Entire document copyright © Docstoc®, Inc., 2010 - 2013 All Right Reserved




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                                                     7

				
DOCUMENT INFO
Shared By:
Stats:
views:8
posted:2/14/2014
language:simple
pages:7
Description: This Seller Agency Agreement is between a real-estate broker and a seller that wants to use the broker’s services. It is vital to get these agreements in writing to ensure that the understandings of both parties are properly set forth. Customize the information of the parties, the property’s address, the listing price, the commission percentage, and more. This agreement can be used by individuals or small businesses that want to sell property using a licensed broker.