Kentucky Exclusive Listing Agreement - Residential

• Category: Real Estate - Home Sale
• State: Multi-State
• Control #: US-01727-AZ
• Format: Word; Rich Text

Description

This form is an exclusive listing agreement between broker/agent and seller. Broker/agent will exclusively represent seller in the attempt to sell. Commission or other compensation is agreed upon. Adapt to fit your specific circumstances. The Kentucky Exclusive Listing Agreement is a legally binding contract established between a homeowner and a real estate agent, which grants the agent exclusive rights to market and sell the residential property. This agreement is specifically designed for residential properties located in Kentucky. The purpose of this agreement is to outline the terms, conditions, and obligations of both the homeowner (also known as the seller) and the real estate agent throughout the listing period. Keywords: Kentucky, Exclusive Listing Agreement, Residential, homeowner, real estate agent, marketing, selling, terms, conditions, obligations, listing period There are different types of Kentucky Exclusive Listing Agreements — Residential, namely: 1. Exclusive Right to Sell Agreement: This is the most common type of exclusive listing agreement. In this arrangement, the homeowner grants exclusive rights to the real estate agent to market and sell the property. Regardless of who ultimately finds the buyer (the agent, the homeowner, or another agent), the listing agent is entitled to the agreed-upon commission. 2. Exclusive Agency Agreement: Under this type of agreement, the homeowner agrees to work exclusively with one real estate agent. However, the homeowner reserves the right to sell the property independently without having to pay a commission to the agent. The agent is only entitled to a commission if they find the buyer for the property. 3. Net Listing Agreement: This type of agreement is less common and requires careful consideration before entering into it. In a net listing agreement, the homeowner and agent agree on a target sale price, and any amount exceeding that price becomes the agent's commission. However, net listing agreements have been deemed illegal in several states due to potential conflicts of interest. Regardless of the type of Kentucky Exclusive Listing Agreement — Residential, it is essential for both the homeowner and the real estate agent to carefully assess the terms, duration, and provisions of the agreement. It is recommended for homeowners to consult with legal professionals or experienced real estate agents to ensure a comprehensive understanding and protection of their interests.

The Kentucky Exclusive Listing Agreement is a legally binding contract established between a homeowner and a real estate agent, which grants the agent exclusive rights to market and sell the residential property. This agreement is specifically designed for residential properties located in Kentucky. The purpose of this agreement is to outline the terms, conditions, and obligations of both the homeowner (also known as the seller) and the real estate agent throughout the listing period. Keywords: Kentucky, Exclusive Listing Agreement, Residential, homeowner, real estate agent, marketing, selling, terms, conditions, obligations, listing period There are different types of Kentucky Exclusive Listing Agreements — Residential, namely: 1. Exclusive Right to Sell Agreement: This is the most common type of exclusive listing agreement. In this arrangement, the homeowner grants exclusive rights to the real estate agent to market and sell the property. Regardless of who ultimately finds the buyer (the agent, the homeowner, or another agent), the listing agent is entitled to the agreed-upon commission. 2. Exclusive Agency Agreement: Under this type of agreement, the homeowner agrees to work exclusively with one real estate agent. However, the homeowner reserves the right to sell the property independently without having to pay a commission to the agent. The agent is only entitled to a commission if they find the buyer for the property. 3. Net Listing Agreement: This type of agreement is less common and requires careful consideration before entering into it. In a net listing agreement, the homeowner and agent agree on a target sale price, and any amount exceeding that price becomes the agent's commission. However, net listing agreements have been deemed illegal in several states due to potential conflicts of interest. Regardless of the type of Kentucky Exclusive Listing Agreement — Residential, it is essential for both the homeowner and the real estate agent to carefully assess the terms, duration, and provisions of the agreement. It is recommended for homeowners to consult with legal professionals or experienced real estate agents to ensure a comprehensive understanding and protection of their interests.