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Standard Listing Agreement for the United States

Standard Listing Agreement Template for United States

A Standard Listing Agreement is a legally binding contract in the United States between a property owner and a real estate broker/agent. It authorizes the broker to act as the seller's agent in marketing and selling their property. The agreement outlines the terms of service, commission structure, duration of the listing, and respective obligations of both parties, while complying with federal and state-specific real estate regulations.

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What is a Standard Listing Agreement?

The Standard Listing Agreement serves as the foundational document for real estate sales relationships in the United States. This contract type establishes the legal framework for the broker-seller relationship, detailing the scope of services, compensation terms, and duration of the listing. It's essential for protecting both parties' interests and ensuring compliance with state and federal real estate laws. The agreement typically includes property details, pricing strategy, marketing plans, and commission structures, while incorporating necessary state-specific requirements and disclosures.

What sections should be included in a Standard Listing Agreement?

1. Parties: Identifies the real estate broker/agent and the property owner/seller

2. Background: Brief context about the property listing arrangement

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property being listed

5. Listing Price: Agreed listing price and pricing strategy

6. Term of Agreement: Duration of the listing agreement

7. Broker's Compensation: Commission structure and payment terms

8. Broker's Obligations: Services to be provided by the broker

9. Seller's Obligations: Responsibilities and commitments of the seller

What sections are optional to include in a Standard Listing Agreement?

1. Dual Agency Provisions: Required when broker may represent both seller and buyer in jurisdictions allowing dual agency

2. Virtual Tour/Photography Rights: Terms regarding digital marketing materials when digital marketing is part of the service

3. Post-Termination Commission Rights: Protection period for broker's commission when protection period is desired

4. Additional Marketing Services: Special marketing arrangements when premium marketing services are included

What schedules should be included in a Standard Listing Agreement?

1. Property Details Schedule: Comprehensive property information and specifications

2. Marketing Plan: Detailed marketing strategy and timeline

3. State-Required Disclosures: Mandatory state-specific disclosure forms

4. Commission Schedule: Detailed breakdown of commission structures

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

Cost

Free to use
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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 race, color, religion, sex, national origin, familial status, or disability

ADA: Americans with Disabilities Act - Federal law ensuring accessibility and preventing discrimination against individuals with disabilities

TILA: Truth in Lending Act - Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

ECOA: Equal Credit Opportunity Act - Federal law prohibiting discrimination in credit transactions, including real estate financing

State Licensing Laws: State-specific requirements for real estate professionals' licensing, continuing education, and practice standards

Agency Disclosure Requirements: State-mandated rules regarding disclosure of agency relationships between brokers, sellers, and buyers

State Contract Laws: State-specific requirements governing the formation and enforcement of real estate contracts

State Consumer Protection: State laws designed to protect consumers in real estate transactions from unfair or deceptive practices

NAR Code of Ethics: Professional standards and ethical requirements established by the National Association of REALTORS��

Real Estate Commission Rules: State-specific regulations established by real estate commissions governing professional conduct and transactions

MLS Rules: Multiple Listing Service requirements for property listings, including accuracy, timing, and presentation of information

Commission Terms: Requirements for clearly stating broker compensation, including rates, terms, and conditions

Duration Clauses: Specifications for the time period of the listing agreement, including start and end dates

Property Description Standards: Requirements for accurate and complete property descriptions and pricing information

Broker Duties: Legal and contractual obligations of the broker, including marketing, showing, and negotiating responsibilities

Seller Obligations: Legal and contractual duties of the seller, including property access, disclosure, and cooperation requirements

Dual Agency Provisions: Requirements for disclosure and handling of situations where a broker represents both buyer and seller

Termination Provisions: Conditions and procedures for early termination of the listing agreement by either party

Dispute Resolution: Procedures and requirements for handling disputes between parties, including mediation and arbitration provisions

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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