The Exclusive Real Estate Agent Contract is essential when property owners want to establish a dedicated professional relationship with a single real estate agent or brokerage. This document is commonly used throughout the United States and must align with both federal and state-specific real estate regulations. It outlines the agent's exclusive rights to market and sell the property, commission structures, duration of the agreement, and both parties' obligations. The contract provides protection for both the agent's efforts and the owner's interests, while ensuring compliance with local real estate laws and professional standards.
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1. Parties: Identifies the real estate agent/broker and property owner with full legal names and addresses
2. Background: Brief context about the property and the owner's intention to sell/lease
3. Definitions: Key terms used throughout the agreement including 'Property', 'Listing Period', 'Exclusive Right', etc.
4. Appointment and Authority: Establishes the exclusive relationship and scope of agent's authority
5. Term: Duration of the exclusive agreement, including start and end dates
6. Commission: Details of compensation, including rate and payment terms
7. Agent's Obligations: Comprehensive list of services and duties the agent will perform
8. Owner's Obligations: Property owner's responsibilities and commitments
9. Termination: Conditions and process for ending the agreement
1. Protection Period: Post-termination period where agent may still be entitled to commission
2. Marketing Budget: Specific allocation and terms for marketing expenses
3. Digital Marketing Rights: Terms for online listing and social media marketing
4. Multiple Listing Service: Terms related to MLS listing
1. Property Description Schedule: Detailed description of the property including legal description
2. Commission Schedule: Detailed breakdown of commission structures for different scenarios
3. Marketing Plan: Detailed marketing strategy and timeline
4. Required Disclosures: State-specific required disclosures and forms
5. Property Condition Report: Current condition of the property if relevant to marketing
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