The Listing Agreement Cancellation Form is utilized when both parties mutually agree to terminate their existing listing relationship before its natural expiration. This document is essential in the United States real estate market when circumstances change, such as the seller deciding not to sell, dissatisfaction with services, or other valid reasons for termination. The form includes critical information such as property details, original listing agreement reference, effective termination date, and any provisions regarding outstanding commissions or protection periods. It must comply with state-specific real estate regulations and professional standards, providing clear documentation of the termination for all parties' records.
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1. Identification of Parties: Names and details of seller, broker, and any other relevant parties
2. Property Information: Address and legal description of the listed property
3. Original Listing Agreement Reference: Details of the original listing agreement being cancelled
4. Cancellation Statement: Clear statement of mutual agreement to cancel the listing
5. Effective Date: Date when the cancellation becomes effective
6. Signature Block: Space for all parties to sign and date
1. Commission Provisions: Details about any commission obligations or waivers if there are outstanding commission issues to address
2. Marketing Materials Clause: Agreement regarding removal of listings and marketing materials when marketing has already begun
3. Protection Period: Terms regarding any continuing protection period when broker wants to protect rights to commission for specific prospects
1. List of Marketing Materials: Inventory of materials to be removed or destroyed
2. Protected Buyers List: List of prospects subject to commission if sale occurs within protection period
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