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Exclusive Listing Agreement

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Exclusive Listing Agreement Powered By Docstoc
					This document sets forth an agreement between an owner of real property and an agent
whereby the owner desires to use an agent’s services to sell the real property. The
seller grants the agent the exclusive right to sell the real property for a set term of time.
If the property is sold, regardless if sold by the seller or the agent, the agent will receive
a commission. This document can be used by a seller of real property or a real estate
agent and can be customized to fit the needs of the drafting parties.
                    EXCLUSIVE LISTING AGREEMENT
        THIS EXCLUSIVE LISTING AGREEMENT (the “Agreement”) is entered into
effective the _______ day of __________________, 20__, by and between ________________
(“Agent”) and_____________ (“Seller”).

                                           RECITALS

        WHEREAS, Seller is the owner of the real property located at [PROPERTY ADDRESS]
(the “Property”);

       WHEREAS, Seller desires to use Agent’s services to sell the Property;

       WHEREAS, Agent wishes to become the exclusive sales agent of Seller;

       NOW THEREFORE, in consideration of the mutual promises, covenants, warranties,
and other good and valuable consideration as set forth herein, the parties hereby agree as follows:

                                             TERMS

1      TERM OF LISTING

        Seller hereby grants to Agent, for the period of ___ (__) months starting on the date set
forth above, and ending at __:00 AM/PM (_ST/_MT) on _________ ______________, 20____
(the “Listing Period”), the exclusive right to sell the real property owned by Seller, described as:
____________________________________ (the “Property”), at a minimum sales price of
_____________ dollars ($____) or any other amount to which Seller agrees in writing.

2      COMMISSION

       If the Property is sold, traded, or in any other way disposed of by Seller, Agent, or
anyone else within the Listing Period, it is agreed to and understood that Agent shall receive
from the sale or trade of said Property ___ percent (%__) of the purchase price as a commission.

3      PROTECTION PERIOD

       If within ___ days after the termination or expiration of this Agreement the Property is
acquired by any party to whom the Property was offered or shown by Agent or another real
estate agent during the Listing Period, Seller agrees to pay to the Agent the commission
referenced above.

4      SELLER WARRANTIES AND DISCLOSURES

        Seller warrants to Agent that the individual or entity identified above as “Seller”
represents all record owners of the Property. Seller warrants that it has marketable title and an
established right to sell, lease, or exchange the Property. Seller agrees to execute the necessary


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documents of conveyance. Seller agrees to furnish buyer with good and marketable title, and to
pay for a standard coverage title insurance owner’s policy for buyer in the amount of the
purchase price.

5      PROFESSIONAL ADVICE

        Agent is trained in the marketing of real estate and is not trained or licensed to provide
Seller or any prospective buyer with legal or tax advice or with technical advice regarding the
physical condition of the Property.

     SELLER IS ADVISED NOT TO RELY ON AGENT FOR A DETERMINATION
REGARDING THE PHYSICAL DESCRIPTION OR LEGAL CONDITION OF THE
PROPERTY.

     IF SELLER DESIRES ADVICE REGARDING: (A) PAST OR PRESENT
COMPLIANCE WITH ZONING AND BUILDING CODE REQUIREMENTS; (B) LEGAL OR
TAX MATTERS; (C) THE PHYSICAL CONDITION OF THE PROPERTY; (D) THIS
AGREEMENT; (E) ANY TRANSACTION FOR ACQUISITION OF THE PROPERTY; OR
(F) GUARANTEED VALUE OF ANY REAL ESTATE, AGENT STRONGLY
RECOMMENDS THAT SELLER SEEK SUCH ADVICE FROM AN INDEPENDENT
PROFESSIONAL OR EXPERT SPECIALIZING IN THOSE FIELDS. IF SELLER FAILS TO
DO SO, SELLER IS ACTING CONTRARY TO THE ADVICE OF AGENT.

6      PURCHASE OFFERS

       Agent agrees to receive and present all offers on the Property to Seller upon receipt of
same in accordance with the laws of the State of _____________.

7      TERMINATION OF AGREEMENT

       Seller may terminate this Agreement at any time by providing written notice to Agent.

8      MEDIATION

        In the event that a claim or dispute shall arise between the parties to this Agreement
relating to this Agreement or breach thereof, the Parties agree to participate in at least ___ (__)
hours of mediation prior to filing a formal complaint in a court of law. The Parties agree to share
equally in the costs of such mediation.

9      GOVERNING LAW AND CONSENT TO JURISDICTION

        This Agreement shall be governed by and construed in accordance with the laws of the
State of _________________ and the laws of United States applicable thereto.

10     ENTIRE AGREEMENT




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DOCUMENT INFO
Description: This document sets forth an agreement between an owner of real property and an agent whereby the owner desires to use an agent’s services to sell the real property. The seller grants the agent the exclusive right to sell the real property for a set term of time. If the property is sold, regardless if sold by the seller or the agent, the agent will receive a commission. This document can be used by a seller of real property or a real estate agent and can be customized to fit the needs of the drafting parties.
This document is also part of a package Purchase of Real Estate Starter Kit 15 Documents Included