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Real Estate Listing Agreement Template for Nigeria

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Key Requirements PROMPT example:

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."

Document background
The Real Estate Listing Agreement is a crucial document in Nigerian property transactions that formalizes the relationship between property owners and real estate professionals. This agreement is used when a property owner wishes to engage a licensed real estate agent or agency to market and sell their property in accordance with Nigerian law. It comprehensively outlines the agent's authority, responsibilities, commission structure, and the terms under which the property will be marketed. The document must comply with Nigerian regulations, particularly the Estate Surveyors and Valuers Registration Act and the Land Use Act, which govern real estate transactions in Nigeria. This agreement is essential for protecting both parties' interests and ensuring clear communication of expectations throughout the listing period.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Property Development

Legal Services

Financial Services

Construction

Property Management

Professional Services

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Property Management

Contracts Administration

Operations

Relevant Roles

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

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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