Real Estate Brokerage Agreement Exclusive
Real Estate Brokerage Agreement-Exclusive
____________________, referred to as OWNER, in consideration for the services performed to date and to be performed, herewith appoints __________________, referred to as BROKER, as the exclusive agent for the sale of the following described real estate, on the terms and conditions set forth below, the following real property:
_______________________________________________________________
BROKER agrees to diligently and in accordance with all applicable regulations and laws to seek to find a buyer for the property. This exclusive listing shall expire _ months after commencement.The minimum selling price of the property shall be:
$____ (________________________&___/100 Dollars)Upon the following terms:
_____________________________BROKER may place a sign during the term of this listing on the property stating that it is the broker herein, and OWNER agrees to allow the sign to be kept during the term of the listing and to allow BROKER access to the same for maintenance. During a period when a closing is pending, the BROKER may continue to place a sign indicating the same.
OWNER agrees to pay a commission of ___ percent (%) of the sales price, if (1) you procure a buyer who is ready, willing and able to purchase the premises upon the terms stated above; (2) you procure a buyer to whom OWNER in fact sells or trades the property; (3) during the terms of the listing, the property is sold through a buyer procured by others. A commission as provided shall be due if BROKER procures a buyer that purchases the property on other terms acceptable to the OWNER.
If the property is sold or otherwise conveyed to a prospect first submitted by BROKER within __ months of the expiration of the listing period, the commission provided for herein shall be due and payable.
Should a purchaser procured by BROKER default, and if any deposit, escrow or earnest money is forfeited or received by OWNER shall pay 5 percent (%) of the same to the BROKER as compensation, but in no event, an amount in excess of the commission earned on the transaction had it closed.
OWNER makes no representations or warranties regarding any problems with the property or its surroundings. BROKER acknowledges an opportunity to fully inspect the premises and acknowledges and accepts the lack of representations or warranties regarding the property and its surroundings.
Dated: _________________________
___________________________________
Owner___________________________________
Broker
Real Estate Brokerage Agreement-Exclusive
Review ListThis review list is provided to inform you about this document in question and assist in its preparation. This agreement limits the owner’s liability to the broker while still providing for brokerage payment upon successful sale of the property.
1. Make multiple copies. Keep one with the property paperwork. Make sure each signatory gets a copy.
Frequently Asked Questions
What is a real estate brokerage agreement exclusive?
A real estate brokerage agreement exclusive is a contract in which the property owner appoints a broker as the exclusive agent for the sale of the property. The broker agrees to diligently seek a buyer in accordance with applicable regulations and laws. The agreement sets out the terms, including the listing period and the minimum selling price.
How long does an exclusive real estate brokerage agreement last?
The agreement states that the exclusive listing shall expire a specified number of months after commencement. The exact duration is filled in on the contract. The listing period is agreed upon by the owner and the broker.
What is the minimum selling price in an exclusive brokerage agreement?
The agreement includes a minimum selling price for the property, expressed in dollars and cents. This price is stated in the contract. The property may not be sold below this amount without the owner's consent.
Can the broker place a sign on the property during the listing?
Yes, the broker may place a sign on the property during the term of the listing stating that it is the broker herein. The owner agrees to allow the sign to be kept during the listing term and to allow the broker access to the sign for maintenance. During a period when a closing is pending, the broker may continue to place a sign indicating the same.
What commission does the owner pay in an exclusive brokerage agreement?
The owner agrees to pay a commission of a specified percent of the sales price. The exact percentage is filled in on the contract. The commission is based on the sales price of the property.
What are the broker's obligations under an exclusive brokerage agreement?
The broker agrees to diligently seek to find a buyer for the property. This must be done in accordance with all applicable regulations and laws. The broker's services are performed in exchange for the commission.
What does exclusive agency mean in a real estate listing?
In an exclusive agency listing, the owner appoints the broker as the exclusive agent for the sale of the property. This means the broker is the only agent authorized to sell the property during the listing term. The agreement outlines the terms and conditions of this exclusive arrangement.
Is the owner allowed to sell the property themselves under an exclusive brokerage agreement?
The agreement appoints the broker as the exclusive agent for the sale of the property. The terms and conditions set forth in the contract govern the sale. The agreement does not specify whether the owner may sell the property themselves.
What happens if the property is sold during the exclusive listing period?
The owner agrees to pay a commission of a specified percent of the sales price. The commission is due upon the sale of the property. The exact terms are detailed in the agreement.
Can the exclusive brokerage agreement be terminated early?
The agreement states that the exclusive listing shall expire a specified number of months after commencement. The contract does not mention early termination. The parties should refer to the agreement for the full terms.
