The Exclusive Agency Agreement (Real Estate) is essential when property owners want to establish a professional relationship with a real estate agent while maintaining the right to find their own buyer. This document is commonly used throughout the United States, subject to state-specific real estate laws and regulations. It provides clear guidelines on commission structures, marketing responsibilities, and the scope of the agent's authority. The agreement protects both parties' interests by clearly defining the terms of their relationship, including the exclusive period, commission arrangements, and circumstances under which the agreement can be terminated. It differs from an Exclusive Right to Sell agreement as it allows the owner to sell the property independently without owing a commission.
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1. Parties: Identifies the real estate agent/broker and property owner, including full legal names and addresses
2. Background: Brief context about the property and the owner's intention to sell/lease through the agent
3. Definitions: Key terms used throughout the agreement including 'Property', 'Listing Period', 'Commission', 'Exclusive Agency'
4. Appointment and Scope: Details of the exclusive agency appointment and services to be provided
5. Term: Duration of the agreement, including start and end dates
6. Commission Structure: Details of fees, commission rates, and payment terms
7. Agent's Obligations: Specific duties and responsibilities of the agent
8. Owner's Obligations: Responsibilities and commitments of the property owner
9. Termination: Conditions and process for ending the agreement
1. Marketing Plan: Detailed marketing strategy and budget - include when specific marketing commitments are required
2. Protection Period: Post-termination period where commission may still be due - include when protecting agent's interests after agreement termination
3. Virtual Tours/Digital Marketing: Specific provisions for online marketing - include when digital marketing is a significant component
4. International Marketing: Provisions for marketing to international buyers - include for luxury properties or those targeting international markets
1. Property Description Schedule: Detailed description of the property including legal description and features
2. Commission Schedule: Detailed breakdown of commission structures and scenarios
3. Marketing Services Schedule: Detailed list of marketing services to be provided
4. Agency Disclosure Form: State-mandated agency relationship disclosure document
5. Property Condition Disclosure: Owner's disclosure of property condition and known issues
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