Indiana 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 Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document that establishes a relationship between a property owner (the client or the landlord) and a real estate broker. This agreement outlines the terms and conditions under which the broker will market, lease, and manage the property on behalf of the client. Keywords: Indiana, Listing Agreement, Broker, Leasing of Premises, Commission Agreement There are two main types of listing agreements commonly used in Indiana: 1. Exclusive Right to Lease Listing Agreement: This type of agreement grants the broker exclusive rights to market and lease the property for a specified period. The broker is entitled to receive a commission if he/she successfully leases the premises during this exclusive timeframe, regardless of who finds the tenant (the broker, the client, or another real estate agent). 2. Open Listing Agreement: This type of agreement allows the client to list the property with multiple brokers simultaneously. The broker who secures a tenant for the premises is entitled to receive the commission. However, if the client finds a tenant themselves or uses another real estate agent, no commission is owed to the brokers. The Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement covers several key areas: 1. Property Details: This includes detailed information about the property being listed, such as the address, type of premises, size, and any specific amenities or restrictions. 2. Broker's Duties: The agreement outlines the responsibilities of the broker, including marketing the property, conducting showings, screening potential tenants, negotiating lease terms, and preparing necessary lease documents. 3. Term and Termination: The duration of the agreement is specified, typically ranging from a few months to a year. It also includes provisions for termination and how notice should be given. 4. Commission Structure: This section explains how the broker's commission will be calculated and when it is payable. The typical commission is a percentage of the gross rent collected during the lease term. 5. Indemnification: The agreement may include clauses that protect the broker from liability for actions taken on behalf of the client, provided they acted in good faith. 6. Brokerage Relationship: The agreement clarifies the relationship between the broker and the client, whether it is an agency relationship (where the broker represents the client's interests) or a transaction brokerage relationship (where the broker facilitates the transaction but doesn't advocate for either party). It's important to note that this content provides a general overview of the Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement. However, it is always recommended consulting with a real estate attorney or professional to understand the specifics and any recent updates to the agreement in the state of Indiana.

The Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document that establishes a relationship between a property owner (the client or the landlord) and a real estate broker. This agreement outlines the terms and conditions under which the broker will market, lease, and manage the property on behalf of the client. Keywords: Indiana, Listing Agreement, Broker, Leasing of Premises, Commission Agreement There are two main types of listing agreements commonly used in Indiana: 1. Exclusive Right to Lease Listing Agreement: This type of agreement grants the broker exclusive rights to market and lease the property for a specified period. The broker is entitled to receive a commission if he/she successfully leases the premises during this exclusive timeframe, regardless of who finds the tenant (the broker, the client, or another real estate agent). 2. Open Listing Agreement: This type of agreement allows the client to list the property with multiple brokers simultaneously. The broker who secures a tenant for the premises is entitled to receive the commission. However, if the client finds a tenant themselves or uses another real estate agent, no commission is owed to the brokers. The Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement covers several key areas: 1. Property Details: This includes detailed information about the property being listed, such as the address, type of premises, size, and any specific amenities or restrictions. 2. Broker's Duties: The agreement outlines the responsibilities of the broker, including marketing the property, conducting showings, screening potential tenants, negotiating lease terms, and preparing necessary lease documents. 3. Term and Termination: The duration of the agreement is specified, typically ranging from a few months to a year. It also includes provisions for termination and how notice should be given. 4. Commission Structure: This section explains how the broker's commission will be calculated and when it is payable. The typical commission is a percentage of the gross rent collected during the lease term. 5. Indemnification: The agreement may include clauses that protect the broker from liability for actions taken on behalf of the client, provided they acted in good faith. 6. Brokerage Relationship: The agreement clarifies the relationship between the broker and the client, whether it is an agency relationship (where the broker represents the client's interests) or a transaction brokerage relationship (where the broker facilitates the transaction but doesn't advocate for either party). It's important to note that this content provides a general overview of the Indiana Listing Agreement with Broker for Leasing of Premises with Commission Agreement. However, it is always recommended consulting with a real estate attorney or professional to understand the specifics and any recent updates to the agreement in the state of Indiana.