Fairfax Virginia Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a document that outlines the terms and conditions between a property owner (landlord) and a real estate broker for the leasing of a property in Fairfax, Virginia. It serves as a legally binding contract that details the rights and obligations of both parties involved. The purpose of the Fairfax Virginia Listing Agreement with Broker for Leasing of Premises with Commission Agreement is to establish a professional relationship between the landlord and the broker, setting forth the broker's authority to market and lease the property on behalf of the landlord. The agreement also establishes the commission structure that the broker will receive upon successfully leasing the premises to a tenant. This type of agreement generally includes several key components: 1. Property Description: The agreement provides a detailed description of the premises, including its address, size, layout, and any additional amenities or features. 2. Term of Agreement: This section specifies the duration of the agreement, typically stating the start and end dates of the agreement. 3. Exclusive Rights: In some cases, the landlord may grant exclusive rights to the broker, meaning that the broker is the only party authorized to lease the property during the agreement's term. 4. Broker's Duties and Obligations: The agreement outlines the broker's responsibilities, such as marketing the property, conducting property showings, reviewing tenant applications, and negotiating lease terms. 5. Landlord's Duties and Obligations: The agreement also outlines the landlord's obligations, including maintaining the premises, providing necessary permits and licenses, and promptly responding to tenant inquiries. 6. Commission and Compensation: This section specifies the commission structure that the broker will receive upon successful leasing of the premises. It typically includes the percentage of the lease value, whether it is a one-time payment or recurring, and any additional fees the broker may be entitled to. 7. Termination Clause: The agreement may include provisions outlining the circumstances under which either party can terminate the agreement before its expiration date. This ensures both parties have an exit strategy if circumstances change. It is worth mentioning that there might be different variations or types of Fairfax Virginia Listing Agreement with Broker for Leasing of Premises with Commission Agreement based on factors like property type (residential, commercial, industrial), lease duration (short-term, long-term), or specific clauses tailored for unique circumstances. In summary, the Fairfax Virginia Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a vital legal document that establishes the relationship and responsibilities between a landlord and a broker regarding the leasing of a property. By formally outlining the terms, rights, and obligations of both parties, it ensures a fair and transparent agreement process.
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.