Exclusive Right to Sell Agreement

Document Sample
Exclusive Right to Sell Agreement Powered By Docstoc
					This is an agreement between a real estate broker and a seller of real property to give
the broker the right to sell the property. The agreement has terms for the list price, the
term of the agreement, the commission to be received by the broker, and a mandatory
arbitration provision. This document should be used by owners of real property, by real
estate brokers, or their legal representatives and can be modified to fit the needs of the
drafting parties.
       EXCLUSIVE RIGHT TO SELL AGREEMENT

THIS AGREEMENT is made and entered into this ___________day of ________________,
201_____, by and between __________________ [NAME OF SELLER] of
________________________ [ADDRESS OF SELLER], (hereinafter referred to as the
“Seller”), and__________________ [NAME OF AGENT] of _____________ ___________
[ADDRESS OF AGENT], (hereinafter referred to as the “Agent”).

In consideration of the covenants and agreements contained herein, the Seller and Agent agree as
follows:


1. Exclusive Right to Sell

Pursuant to this Agreement, Seller appoints Agent to act as its exclusive agent and grants to the
Agent the irrevocable exclusive right to sell the real property described below..


2. Property

Address: _____________________________________________________,
City: ______________, County: __________________, State: __________________,
Zip Code: _________________.

Legal Description of the property (“Property”):
_________________________________________________________
together with all fixtures and improvements thereon and appurtenances incidental thereto.


3. Price

The Property will be offered for sale at a list price of $_____________________ and shall be
sold at such price and upon such terms to which Seller may agree.


4. Term

This Agreement shall be effective from ________________, 201___ and shall expire at
midnight on ______________________, 201___ (the “Exclusive Period”). After the expiry of
the Exclusive Period, Seller may, at its option, extend this Agreement with a prior written notice
of ___________ days to the Agent. Seller may at any time cancel this Agreement by giving
__________ days notice to the Agent.


5. Commissions

© Copyright 2011 Docstoc Inc.                                                         2
In the event of sale or exchange of the Property at the price and terms of this Agreement, or such
other price and terms as may be acceptable to Seller, Seller agrees to pay Agent a commission of
$ _______________ or _________% on the full purchase or exchange price. {Instruction:
Provide EITHER a percentage, OR, a flat commission amount. Put "none" or "N/A" or
"Not Applicable" in the other blank space, above.} Agent agrees that, if he or she is required to
share this commission (e.g., with another listing agent, with a Buyer's Agent, etc., any money
paid out to other parties will come from the Agent's commission, unless otherwise agreed-to in a
separate writing, signed and dated by both parties.


6. Protection Period

Seller shall pay the commission set forth above to Agent for any contract that was executed for
the sale of the Property during the Exclusive Period. Further, in the event if an agreement for sale
or exchange is entered into or consummated by Seller within ___________ days after the
expiration of Exclusive Period, with any purchaser whom the Agent had referred or negotiated
with, Seller shall pay the commission set forth above to Agent.


7. Authorizations

Seller hereby authorizes the Agent to:

(a) place a “for sale” sign on the Property, and to remove all other such signs,

(b) place a lock box on the Property, {Instruction: If parties do NOT agree to this lock-box
provision, either delete or cross out this paragraph.}

(c) have access to the Property at all reasonable times for the purpose of showing the Property to
prospective purchasers. Agent agrees to give at least _____ hours' advance notice of a showing,
whenever such advance notice is feasible or practical,

(d) advertise to general public in various media, including but not limited to Internet and
electronic media, brochures, newspapers, etc. and to include the use of any exterior/interior
photos if applicable.

(e) The Property shall be entered into the multiple listing service subject to the rules and
regulations of that service.


8. Fair Housing

The Property shall be marketed and sold in compliance with federal, state, and local fair housing
laws and regulations. Agent and Seller agree to abide by all local, state, and federal laws
prohibiting discrimination against any individual or group of individuals


© Copyright 2011 Docstoc Inc.                                                           3
9. Seller’s Representations

Seller warrants to Agent that there are no known material facts, defects or violations of law nor
any adverse environmental conditions, other than those Seller has or shall provide to Agent
elsewhere in the listing's Disclosure Section(s). Seller warrants that the information provided to
the Agent as listing information is true and accurate to the best of its knowledge. The Seller
acknowledges that it is listing the Property in its present physical condition (“as is” condition),
and further agrees that the Seller may be held responsible by a purchaser for any latent or hidden
undisclosed defects in the Property which are known to Seller but are not disclosed to the
purchaser at time of sale. The Seller agrees to complete all necessary disclosure forms.

Seller hereby represents that Seller is the sole title holder to the Property and that Seller
possesses good marketable title to the Property. Seller agrees to convey title to the Property at
closing by deed or such other conveyance as may be required. Seller pledges that the Property is
free from all encumbrances, liens and easements except as shall be assumed by purchaser.



10. Lead Based Paint Disclosure:

Seller represents and warrants that the listed Property was (_______) was not (________)
{Instruction; Put a checkmark, or initials, or "X" in the correct section} built in 1978 or later
and that therefore, all federally mandated lead-based paint disclosure regulations do (_________)
do not (_________) {Instruction: Put a checkmark, or initials, or "X" in the correct section.}
apply to this Property.



11.    Warranty and Indemnification

Seller acknowledges that Agent is relying upon the representations, both oral and written, made
by the Seller with respect to the Property. Seller warrants to Agent that any representations made
by the Seller are true and Agent is authorized to communicate such representations to
prospective purchasers.

Seller agrees to hold Agent and its sub-agents harmless of any losses, damages, costs, liability or
injury, including reasonable attorney fees arising from: (a) Seller's representations or failure to
disclose violations, facts or defects; (b) the condition or maintenance of the Property; and (c) any
claims asserted against Agent by virtue of Agent’s performance of its obligations under this
Agreement.


12.    Entire Agreement



© Copyright 2011 Docstoc Inc.                                                           4
This Agreement shall constitute the entire agreement between the Parties, and shall supersede
any other written or oral agreement between the Parties. This Agreement can be modified only
by a writing signed by Agent and Seller.


13.    Governing Law

This Agreement shall be governed by the laws of the State of _______________.


14.    Arbitration

All claims, disputes or other matters in question between Agent and Seller, arising out of or
relating to this Agreement shall be determined by arbitration before the American Arbitration
Association in _____________________ pursuant to its Commercial Arbitration Rules. The
award rendered by the arbitrator shall be final, and judgment may be entered upon it in
accordance with applicable law in any court of competent jurisdiction.

15.    Severability

If any provision contained in this Agreement shall be held to be invalid, illegal, unenforceable or
in conflict with the law of any jurisdiction, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.




ACCEPTED:

Date:______________________________________________

Agent:_____________________________________________

Address:____________________________________________

___________________________________________________




Date:_______________________________________________

Seller:_____________________________________________

Address: ____________________________________________

___________________________________________________

© Copyright 2011 Docstoc Inc.                                                          5

				
DOCUMENT INFO
Description: This is an agreement between a real estate broker and a seller of real property to give the broker the right to sell the property. The agreement has terms for the list price, the term of the agreement, the commission to be received by the broker, and a mandatory arbitration provision. This document should be used by owners of real property, by real estate brokers, or their legal representatives and can be modified to fit the needs of the drafting parties.
This document is also part of a package 0 Documents Included