Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement

• Category: Real Estate - Listing Agreements
• State: Multi-State
• Control #: US-0584BG
• Format: Word; Rich Text

Description

This form is a listing agreement with a broker for the leasing of real property and contains a commission agreement. The Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document that establishes the relationship between a property owner or landlord (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as the exclusive agent for leasing the premises owned by the Principal, and the commission structure for the Broker's services. In Hawaii, there may be different types of Listing Agreements, depending on the specific circumstances and needs of the Principal. Some common types of Listing Agreements include: 1. Exclusive Right to Lease Agreement: This type of agreement grants the Broker exclusive rights to represent the Principal in leasing the premises. It means that only the Broker is authorized to market and negotiate the lease for the property during the specified term. If a tenant is found during this period, the Broker is entitled to the agreed-upon commission, regardless of whether the Principal or another party successfully completes the transaction. 2. Open Listing Agreement: This type of agreement allows the Principal to work with multiple Brokers simultaneously. The Principal reserves the right to lease the premises themselves or hire any Broker who secures a tenant for the property. The commission will be paid to the Broker who brings the accepted tenant. 3. Exclusive Agency Agreement: In this type of agreement, the Broker is the exclusive agent for the Principal, but the Principal retains the right to lease the premises themselves without any obligation to compensate the Broker. If another Broker successfully procures a tenant, the commission will be split between the participating Brokers as per the agreed terms. The Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following key details: 1. Identification of the Principal and Broker: Clearly stating the names and contact information of the parties involved. 2. Property Description: Providing a detailed description of the premises, including the address, legal description, and any relevant information about the property. 3. Exclusive Authorization and Terms: Specifying the duration of the agreement, whether it is an exclusive right to lease, open listing, or exclusive agency agreement. 4. Commission Structure: Outlining the agreed-upon commission rate or fee, as well as any additional expenses or costs that will be incurred by the Principal. 5. Duties and Responsibilities: Defining the obligations and duties of the Principal and Broker, such as advertising, marketing, and showing the premises to potential tenants. 6. Termination Clause: Stating the conditions under which the agreement can be terminated by either party, including notice periods and any applicable penalties or liabilities. 7. Governing Law: Specifying that the agreement will be governed by the laws of the State of Hawaii. It is crucial for both the Principal and Broker to carefully review and understand the terms and conditions of the Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement before signing. It is recommended to consult with legal professionals or real estate experts to ensure compliance with Hawaii's real estate laws and to protect the interests of all parties involved.

The Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document that establishes the relationship between a property owner or landlord (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as the exclusive agent for leasing the premises owned by the Principal, and the commission structure for the Broker's services. In Hawaii, there may be different types of Listing Agreements, depending on the specific circumstances and needs of the Principal. Some common types of Listing Agreements include: 1. Exclusive Right to Lease Agreement: This type of agreement grants the Broker exclusive rights to represent the Principal in leasing the premises. It means that only the Broker is authorized to market and negotiate the lease for the property during the specified term. If a tenant is found during this period, the Broker is entitled to the agreed-upon commission, regardless of whether the Principal or another party successfully completes the transaction. 2. Open Listing Agreement: This type of agreement allows the Principal to work with multiple Brokers simultaneously. The Principal reserves the right to lease the premises themselves or hire any Broker who secures a tenant for the property. The commission will be paid to the Broker who brings the accepted tenant. 3. Exclusive Agency Agreement: In this type of agreement, the Broker is the exclusive agent for the Principal, but the Principal retains the right to lease the premises themselves without any obligation to compensate the Broker. If another Broker successfully procures a tenant, the commission will be split between the participating Brokers as per the agreed terms. The Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement typically includes the following key details: 1. Identification of the Principal and Broker: Clearly stating the names and contact information of the parties involved. 2. Property Description: Providing a detailed description of the premises, including the address, legal description, and any relevant information about the property. 3. Exclusive Authorization and Terms: Specifying the duration of the agreement, whether it is an exclusive right to lease, open listing, or exclusive agency agreement. 4. Commission Structure: Outlining the agreed-upon commission rate or fee, as well as any additional expenses or costs that will be incurred by the Principal. 5. Duties and Responsibilities: Defining the obligations and duties of the Principal and Broker, such as advertising, marketing, and showing the premises to potential tenants. 6. Termination Clause: Stating the conditions under which the agreement can be terminated by either party, including notice periods and any applicable penalties or liabilities. 7. Governing Law: Specifying that the agreement will be governed by the laws of the State of Hawaii. It is crucial for both the Principal and Broker to carefully review and understand the terms and conditions of the Hawaii Listing Agreement with Broker for Leasing of Premises with Commission Agreement before signing. It is recommended to consult with legal professionals or real estate experts to ensure compliance with Hawaii's real estate laws and to protect the interests of all parties involved.