The Exclusive Agency Listing Agreement is a crucial document in New Zealand real estate transactions, used when a property owner wishes to engage a single real estate agency to market and sell their property. This agreement type is governed by the Real Estate Agents Act 2008 and the Professional Conduct and Client Care Rules 2012, requiring specific disclosures and terms to protect all parties involved. The document is typically used at the commencement of a property sale process and includes essential details such as property information, commission structures, marketing plans, and the exclusive agency period. It provides the agency with the security of being the sole appointed agent while ensuring the vendor receives committed professional service. The agreement is particularly important in New Zealand's real estate market, where exclusive agency arrangements are common practice and require careful documentation to comply with local regulations.
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1. Parties: Identification of the vendor/client and the real estate agency, including full legal names and contact details
2. Background: Brief context explaining the vendor's intention to sell the property and appointment of the agency
3. Definitions: Key terms used throughout the agreement including 'Exclusive Agency', 'Property', 'Commission', 'Agency Period'
4. Appointment and Authority: Formal appointment of the agency as exclusive agent and scope of authority granted
5. Property Details: Complete description and identification of the property being listed for sale
6. Agency Period: Specific start and end dates of the exclusive agency period
7. Commission Structure: Detailed breakdown of commission rates, when payable, and calculation method
8. Marketing and Advertising: Agreement on marketing strategy, costs, and responsibilities
9. Agent's Obligations: Detailed listing of the agent's duties, responsibilities, and service commitments
10. Vendor's Obligations: Vendor's responsibilities including property access, information provision, and cooperation requirements
11. Termination: Conditions and process for ending the agreement
12. Acknowledgments: Vendor's confirmation of understanding key terms and receiving required disclosures
13. Execution: Signing section with date and witness requirements
1. Multiple Ownership: Required when property has multiple owners, detailing their respective rights and obligations
2. Auction Terms: Include when property may be sold by auction, specifying auction-specific terms and conditions
3. Property Manager Handover: Required when property is currently under property management and needs transition arrangements
4. Special Conditions: For any unique requirements or circumstances specific to the property or vendor
5. Conflict of Interest: Required when there are potential conflicts to disclose
6. GST Provisions: Required when the property sale may have GST implications
1. Schedule 1: Property Details: Detailed property information including title details, chattels, and property features
2. Schedule 2: Commission Schedule: Detailed breakdown of commission rates, including tiered structures if applicable
3. Schedule 3: Marketing Schedule: Comprehensive marketing plan and associated costs
4. Appendix A: Property Information Form: Vendor's disclosure of property information and known issues
5. Appendix B: Photography and Marketing Consent: Specific permissions for property photography and marketing materials
6. Appendix C: Agency Disclosure Statement: Required disclosures under the Real Estate Agents Act 2008
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Management
Legal Services
Professional Services
Relevant Teams
Legal
Real Estate Sales
Compliance
Property Management
Business Development
Contract Administration
Marketing
Operations
Relevant Roles
Real Estate Agent
Property Broker
Real Estate Branch Manager
Legal Counsel
Property Manager
Compliance Officer
Sales Director
Business Development Manager
Contract Administrator
Real Estate Sales Consultant
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