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Real Estate Listing Agreement
"I need a Real Estate Listing Agreement for a luxury residential property in Lagos, Nigeria, with exclusive listing rights for 6 months starting March 1, 2025, including provisions for international marketing and virtual showings."
1. Parties: Identifies the property owner (seller) and the real estate agent/agency, including their full legal names, addresses, and registration details
2. Background: Brief context about the property owner's intention to sell and the agent's qualifications to list and market the property
3. Definitions: Defines key terms used throughout the agreement, including 'Property', 'Listing Period', 'Commission', 'Exclusive Right to Sell', etc.
4. Appointment and Authority: Formally establishes the agent's appointment and specifies whether it's an exclusive or non-exclusive listing
5. Property Details: Specific description of the property being listed, including its legal description and current condition
6. Listing Price: States the agreed listing price and any conditions for price adjustments
7. Commission Structure: Details the commission rate, when it becomes payable, and any additional fees
8. Agent's Obligations: Specifies the services the agent will provide, including marketing efforts and showing requirements
9. Owner's Obligations: Outlines the property owner's responsibilities, including providing accurate information and maintaining the property
10. Term and Termination: Specifies the duration of the agreement and conditions for termination
11. Governing Law: Confirms that the agreement is governed by Nigerian law and specifies jurisdiction
12. Dispute Resolution: Outlines the process for resolving any disputes between parties
13. Execution: Signature block and execution requirements
1. Protected Period: Defines a period after the listing expires during which the agent is still entitled to commission for certain buyers - include when requested by the agent
2. Virtual Tours and Digital Marketing: Specific provisions for digital marketing and virtual showings - include for properties requiring extensive online presence
3. Multiple Listing Service: Terms for MLS listing if applicable in the region - include when MLS services are available
4. International Marketing: Special provisions for marketing to international buyers - include for high-end properties or those likely to attract foreign buyers
5. Property Management: Additional terms if the agent will manage the property while it's listed - include when property management services are required
6. Dual Agency: Provisions for situations where the agent may represent both buyer and seller - include when dual agency is permitted and possible
7. Force Majeure: Provisions for unforeseen circumstances preventing performance - include in regions with political or economic instability
1. Schedule A - Property Description: Detailed description of the property, including lot size, boundaries, and improvements
2. Schedule B - Marketing Plan: Detailed marketing strategy and activities to be undertaken by the agent
3. Schedule C - Commission Schedule: Detailed breakdown of commission structures, including any sliding scales or special circumstances
4. Schedule D - Property Documents: List of all property documents provided by the owner to the agent
5. Appendix 1 - Property Photographs: Current photographs of the property and any relevant features
6. Appendix 2 - Property Title Documents: Copies of relevant title documents and land use certificates
7. Appendix 3 - Agent's License and Credentials: Copies of the agent's professional licenses and certifications
Authors
Real Estate
Property Development
Legal Services
Financial Services
Construction
Property Management
Professional Services
Legal
Real Estate
Sales
Business Development
Compliance
Property Management
Contracts Administration
Operations
Real Estate Agent
Property Manager
Estate Surveyor
Real Estate Broker
Legal Counsel
Property Developer
Sales Manager
Business Development Manager
Compliance Officer
Contract Administrator
Property Valuer
Real Estate Partner
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