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Exclusive Contract With A Real Estate Agent
1. Parties: Identifies the property owner(s) and the licensed real estate agent/broker, including full legal names, addresses, and licensing information
2. Background: Brief context explaining the owner's intention to sell/lease the property and engage the agent's services
3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Right', 'Property', 'Listing Period', and 'Commission'
4. Appointment and Grant of Rights: Establishes the exclusive right of the agent to represent the owner in the sale/lease of the property
5. Term of Agreement: Specifies the duration of the exclusive agreement, including start and end dates
6. Agent's Obligations: Details the services the agent will provide, including marketing, showing the property, and negotiating with potential buyers
7. Owner's Obligations: Outlines the owner's responsibilities, including providing access to the property and necessary documentation
8. Commission Structure: Specifies the commission rate, when it becomes payable, and any conditions for payment
9. Property Information: Details of the property being listed, including address and legal description
10. Marketing Authorization: Permits the agent to advertise the property and use various marketing methods
11. Termination Rights: Conditions under which either party may terminate the agreement
12. Governing Law: Specifies the state law governing the agreement
13. Signatures: Space for dated signatures of all parties
1. Protection Period: Defines a period after agreement termination during which the agent may still be entitled to commission for specific buyers
2. Multiple Listing Service Authorization: Specific authorization for MLS listing and terms, used when MLS listing is desired
3. Virtual Tour and Photography: Terms regarding special marketing services including virtual tours and professional photography
4. Property Management Services: Additional terms for property management services if the agent will also manage the property
5. Dual Agency Provisions: Terms addressing potential dual agency situations, required in states where dual agency is permitted
6. International Marketing: Additional terms for international marketing efforts, used when targeting foreign buyers
7. Dispute Resolution: Optional arbitration or mediation clauses for conflict resolution
1. Schedule A - Property Details: Detailed description of the property, including lot size, features, and improvements
2. Schedule B - Marketing Plan: Detailed marketing strategy and activities to be undertaken by the agent
3. Schedule C - Commission Schedule: Detailed breakdown of commission structures for different scenarios
4. Schedule D - Property Disclosure Statement: Owner's disclosure of property condition and known issues
5. Appendix 1 - Required State Disclosures: State-mandated real estate disclosures and forms
6. Appendix 2 - Agent's Credentials: Agent's license information, certifications, and track record
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Property Investment
Property Management
Legal Services
Construction
Hospitality
Retail
Legal
Real Estate
Compliance
Property Management
Business Development
Contract Administration
Risk Management
Sales
Operations
Real Estate Agent
Real Estate Broker
Property Manager
Real Estate Attorney
Legal Counsel
Contract Manager
Property Owner
Real Estate Developer
Investment Manager
Compliance Officer
Real Estate Transaction Coordinator
Business Development Manager
Property Services Director
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