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The Standard Listing Agreement is a fundamental document in Nigerian real estate transactions, used when a property owner wishes to engage a professional real estate agent or agency to market and sell their property. This agreement is essential for establishing clear terms of engagement and protecting both parties' interests in the Nigerian real estate market. The document complies with Nigerian property law and real estate regulations, including the Estate Surveyors and Valuers Registration Act. The Standard Listing Agreement typically includes detailed provisions for commission structures, marketing authorizations, property details, and agent obligations. It's particularly important in Nigeria's dynamic real estate market where proper documentation and clear agency relationships are crucial for successful property transactions. The agreement can be adapted for various property types, from residential to commercial, and can accommodate both exclusive and non-exclusive listing arrangements.

1. Parties: Identifies the property owner/seller and the real estate agent/agency, including full legal names and addresses

2. Background: Brief context explaining the owner's intention to sell/lease the property and appointment of the agent

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Listing Period', 'Commission', 'Asking Price'

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

5. Property Details: Full description and details of the property being listed

6. Listing Terms: Specific terms including listing price, listing period, and type of listing (exclusive/non-exclusive)

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

8. Owner's Obligations: Property owner's responsibilities including providing access, maintaining property, disclosure requirements

9. Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions for commission becoming due

10. Marketing Authorization: Specific permissions for advertising, use of photos, signage, and marketing activities

11. Term and Termination: Duration of agreement, renewal terms, and conditions for termination

12. Governing Law: Specifies Nigerian law as governing law and jurisdiction for disputes

13. Execution: Signature blocks and execution requirements