A New Jersey Exclusive Listing Agreement — Residential is a legally binding contract between a homeowner or seller and a real estate agent or brokerage that outlines the terms and conditions for marketing and selling a residential property exclusively through that particular agent or agency. This agreement grants the chosen agent the sole right to represent the seller in the sale of their property for a specified period of time. Keywords: New Jersey, Exclusive Listing Agreement, Residential, real estate agent, seller, marketing, selling, property, legally binding, contract, terms and conditions, sole right, represent, sale, specified period of time. Types of New Jersey Exclusive Listing Agreement — Residential: 1. Traditional Exclusive Listing Agreement: Under this type of agreement, the seller appoints one real estate agent or brokerage to represent them exclusively in the sale of their residential property. This agreement typically has a specified time frame during which the agent has the sole right to market and sell the property. 2. Multiple Exclusive Listing Agreement: In this type of agreement, the seller can appoint multiple real estate agents or brokerages to represent them exclusively in the sale of their residential property. Each agent or brokerage will have the sole right to market and sell the property, but the seller is allowed to work with multiple agents simultaneously. This type of agreement can help broaden the property's exposure to potential buyers. 3. Pocket Listing Agreement: A pocket listing is a type of exclusive listing agreement where the seller decides not to put their property on the Multiple Listing Service (MLS) or any public platform. Instead, the seller and the chosen agent agree to keep the property exclusively marketed within their personal network or to a select group of potential buyers. This type of agreement is often used for luxury or high-profile properties. 4. Limited Exclusive Listing Agreement: This type of agreement allows the seller to list their property exclusively with one agent or brokerage for a limited period of time, after which the property can be listed with additional agents or brokers if not sold. This agreement provides flexibility for the seller to engage multiple agents if the initial marketing efforts do not produce the desired results within the specified time frame. Overall, a New Jersey Exclusive Listing Agreement — Residential is a crucial document that establishes the relationship between a seller and their chosen real estate agent or brokerage, outlining the exclusive rights in marketing and selling a residential property.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.