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The Lease Listing Agreement is a crucial document in Nigerian real estate practice that formalizes the relationship between property owners and real estate agents. This agreement is essential when property owners wish to engage professional services for leasing their property, whether commercial or residential. The document complies with Nigerian property laws, including the Land Use Act of 1978 and state-specific real estate regulations. It typically includes comprehensive details about the property, listing terms, commission structures, marketing strategies, and the respective obligations of both parties. The agreement provides legal protection for both the property owner and the agent, ensuring clarity in their professional relationship and helping prevent potential disputes. Property owners should use this agreement whenever they want to formally authorize an agent to market their property for lease, as it establishes clear parameters for the agency relationship and sets expectations for all parties involved.

1. Parties: Identification of the property owner (Principal) and the real estate agent (Agent), including full legal names, addresses, and contact information

2. Background: Brief context explaining the purpose of the agreement and the intent to list the property for lease

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Listing Period', 'Lease Terms', 'Commission', etc.

4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the property owner

5. Property Details: Complete description of the property being listed for lease

6. Listing Terms: Specific details about the listing, including desired rental price, minimum lease term, and target tenant profile

7. Agent's Obligations: Detailed responsibilities of the agent including marketing, showing property, tenant screening, and reporting

8. Owner's Obligations: Property owner's responsibilities, including maintaining the property and providing necessary documentation

9. Commission Structure: Detailed breakdown of agent's commission, when it becomes payable, and payment terms

10. Duration and Termination: Length of the listing agreement and conditions for termination

11. Representations and Warranties: Statements of fact and guarantees by both parties

12. Governing Law: Specification that Nigerian law governs the agreement

13. Dispute Resolution: Process for handling disagreements between parties

14. Execution: Signature blocks and execution requirements