The term domain name means any alphanumeric designation which is registered with or assigned by any domain name registrar, domain name registry, or other domain name registration authority as part of an electronic address on the Internet. (15 USCS § 1127)
In Georgia, a Listing Agreement with a Broker to Sell an Internet Domain Site is a legally binding contract that outlines the terms and conditions of the exclusive arrangement between a domain site owner and a licensed real estate broker. This agreement allows the broker to act on behalf of the owner to market, negotiate, and ultimately sell the domain site. One type of Georgia Listing Agreement for selling an Internet Domain Site is the Exclusive Right to Sell listing. This agreement gives the broker exclusive rights to represent the owner in the sale of the domain site, meaning that only the broker can market and negotiate the sale. The owner agrees to pay a commission to the broker upon the successful sale of the domain site, regardless of who brings the buyer. Another type of Georgia Listing Agreement is the Exclusive Agency listing. Here, the owner still grants exclusivity to the broker, but retains the right to market and sell the domain site themselves. If the owner manages to bring a buyer without the broker's involvement, no commission is owed. However, if the broker brings the buyer, a commission is still payable. The Georgia Listing Agreement with a Broker to Sell an Internet Domain Site — Exclusive Listing typically includes various key elements: 1. Parties: Clearly identifies the domain site owner as the "Seller" and the broker as the "Broker." 2. Exclusive Agency: Specifies that the agreement is an exclusive listing, outlining the broker's exclusive rights and the parties' obligations under the agreement. 3. Domain Site Information: Provides a detailed description of the internet domain site, including its unique features, domain name, previous sale history, and any other relevant information. 4. Listing Price and Terms: Establishes the listing price for the domain site and other terms, such as the desired closing date, financing options, and any contingencies. 5. Brokerage Fee: Specifies the commission structure, including the percentage or flat fee the broker will receive upon the successful sale and closing of the domain site. 6. Marketing Strategy: Outlines the broker's marketing plan for showcasing and promoting the domain site to potential buyers. 7. Listing Duration: Specifies the duration of the exclusive listing period, during which the broker has the sole right to market and negotiate the sale. It may also include provisions for contract renewal or termination. 8. Seller Representation: Establishes the seller's obligations in providing accurate information, cooperating with the broker's efforts, and ensuring that the domain site is in marketable condition. 9. Dispute Resolution: Includes provisions for resolving disputes, such as mediation or arbitration, if any conflicts arise between the parties during the course of the agreement. It is essential for both the domain site owner and the broker to thoroughly review and understand the terms and conditions of the Georgia Listing Agreement before signing. Consulting with legal professionals experienced in real estate transactions in Georgia is advisable to ensure compliance and protect the interests of both parties.
