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Selling Agent Contract for the United States

Selling Agent Contract Template for United States

A Selling Agent Contract is a legally binding agreement used in the United States that establishes the terms and conditions between a property owner and a real estate agent or brokerage for the sale of property. The document outlines the agent's authority, responsibilities, commission structure, and the duration of the relationship. It complies with federal real estate laws, state-specific regulations, and includes necessary disclosures required by various state real estate commissions.

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What is a Selling Agent Contract?

The Selling Agent Contract serves as the foundational document for establishing a professional relationship between property owners and real estate professionals in the United States. This contract type is essential when a property owner wishes to engage a licensed agent to market and sell their property. The agreement specifies crucial elements such as the listing price, commission rates, marketing strategies, and the duration of the agency relationship. It ensures compliance with state-specific real estate regulations and federal laws while protecting both parties' interests throughout the sales process.

What sections should be included in a Selling Agent Contract?

1. Parties: Identifies the principal (seller) and the selling agent, including full legal names and addresses

2. Background: Establishes context of the agreement, including the intent to appoint a selling agent

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

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

5. Agent's Duties and Responsibilities: Detailed listing of all obligations and responsibilities of the agent

6. Principal's Obligations: Obligations of the seller including providing information and access

7. Commission Structure: Details of compensation, including rates, payment terms, and conditions

8. Term and Termination: Duration of agreement and conditions for termination

9. Governing Law: Specifies applicable jurisdiction and law

What sections are optional to include in a Selling Agent Contract?

1. Protection Period: Post-termination period where commission may still be due if property is sold to a buyer introduced by the agent

2. Multiple Listing Service: Terms related to MLS listing and associated requirements

3. Marketing Budget: Specified marketing expenses and responsibilities for property promotion

4. Non-Compete Clause: Restrictions on agent's activities with respect to competing properties or services

What schedules should be included in a Selling Agent Contract?

1. Property Details Schedule: Detailed description of property being sold including address, features, and specifications

2. Commission Schedule: Detailed breakdown of commission structure and calculations

3. Marketing Plan: Detailed marketing strategy and timeline for property promotion

4. Required Disclosures: State-mandated property disclosures and forms

5. Agency Disclosure: State-required agency relationship disclosure forms

Authors

Alex Denne

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

Jurisdiction

United States

Publisher

Ƶ

Document Type

Contract to Sell

Cost

Free to use
Clauses




























Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and settlement processes

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on protected characteristics

Truth in Lending Act: Federal law requiring disclosure of credit terms and standardizing how costs associated with borrowing are calculated

Sherman Antitrust Act: Federal law prohibiting anticompetitive business practices and monopolistic conduct

Federal Trade Commission Act: Federal law governing unfair or deceptive practices in commerce

State Real Estate Commission Regulations: State-specific rules governing real estate practice, licensing, and professional conduct

State Licensing Requirements: Specific requirements for maintaining real estate license in the operating state

NAR Code of Ethics: Professional conduct guidelines established by the National Association of REALTORS��

Independent Contractor Classification: IRS guidelines and state laws determining worker classification and tax implications

State Data Privacy Laws: State-specific requirements for handling and protecting client data

Gramm-Leach-Bliley Act: Federal law requiring financial institutions to explain information-sharing practices and protect sensitive data

State Disclosure Requirements: Mandatory disclosures required by state law in real estate transactions

Commission Structure Documentation: Requirements for documenting and disclosing commission arrangements

Agency Relationship Laws: State laws governing the formation and conduct of real estate agency relationships

Dispute Resolution Requirements: State and federal requirements for handling disputes in real estate transactions

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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