Maine 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. Maine Exclusive Listing Agreement — Residential is a legally binding contract between a homeowner/seller and a real estate agent/broker, granting the agent exclusive rights to market and sell the residential property in the state of Maine. This agreement ensures that only the chosen agent can represent and promote the property during the listing period, preventing other agents or brokers from pursuing potential buyers. Key terms and conditions of the Maine Exclusive Listing Agreement — Residential may include: 1. Listing Duration: The agreement specifies the start and end dates of the exclusive listing period. Typically, this period lasts for a predetermined number of months, allowing the agent sufficient time to market the property effectively. 2. Commission Rate: The agreement outlines the commission percentage or flat fee that the homeowner agrees to pay the agent upon the successful sale of the property. It usually ranges from 4-6% of the final sale price and may have provisions for adjusting the rate based on certain circumstances. 3. Marketing Plan: The agent is expected to provide a detailed marketing plan that outlines the strategies and platforms they will employ to advertise the property. This may include online listings, professional photography, staging, open houses, and other promotional activities. 4. Multiple Listing Service (MLS) Participation: The agreement determines whether the property will be listed in the Maine MLS, a database that allows other licensed real estate agents to access and potentially bring buyers. If the property is not listed in the MLS, it becomes an "Exclusive Agency Listing Agreement." 5. Seller's Obligations: The agreement may specify certain responsibilities of the seller, such as maintaining the property in good condition, making necessary repairs, and disclosing any known defects or issues that could affect the property's value. Different types of Maine Exclusive Listing Agreement — Residential: 1. Exclusive Right to Sell Listing Agreement: This type of agreement grants exclusive rights to the selected agent to market and sell the property within the agreed-upon listing period. If the property is sold by another agent or by the owner themselves, the listing agent is still entitled to the agreed-upon commission. 2. Exclusive Agency Listing Agreement: This agreement allows the homeowner to retain the right to sell the property without owing a commission to the listing agent. However, if the property is sold by any other agent, the listing agent is entitled to a commission. 3. Pocket Listing: These agreements are uncommon in Maine but may exist. They allow the agent to keep the property off-market and confidentially offer it to a select group of potential buyers. This approach aims to create a sense of exclusivity and potentially secure a sale without public marketing. In conclusion, the Maine Exclusive Listing Agreement — Residential is a comprehensive and legally binding contract granting an agent exclusive rights to market and sell a residential property in Maine. It ensures that only the chosen agent can represent and promote the property during the listing period. Different types of this agreement include Exclusive Right to Sell Listing Agreement, Exclusive Agency Listing Agreement, and potentially Pocket Listings.

Maine Exclusive Listing Agreement — Residential is a legally binding contract between a homeowner/seller and a real estate agent/broker, granting the agent exclusive rights to market and sell the residential property in the state of Maine. This agreement ensures that only the chosen agent can represent and promote the property during the listing period, preventing other agents or brokers from pursuing potential buyers. Key terms and conditions of the Maine Exclusive Listing Agreement — Residential may include: 1. Listing Duration: The agreement specifies the start and end dates of the exclusive listing period. Typically, this period lasts for a predetermined number of months, allowing the agent sufficient time to market the property effectively. 2. Commission Rate: The agreement outlines the commission percentage or flat fee that the homeowner agrees to pay the agent upon the successful sale of the property. It usually ranges from 4-6% of the final sale price and may have provisions for adjusting the rate based on certain circumstances. 3. Marketing Plan: The agent is expected to provide a detailed marketing plan that outlines the strategies and platforms they will employ to advertise the property. This may include online listings, professional photography, staging, open houses, and other promotional activities. 4. Multiple Listing Service (MLS) Participation: The agreement determines whether the property will be listed in the Maine MLS, a database that allows other licensed real estate agents to access and potentially bring buyers. If the property is not listed in the MLS, it becomes an "Exclusive Agency Listing Agreement." 5. Seller's Obligations: The agreement may specify certain responsibilities of the seller, such as maintaining the property in good condition, making necessary repairs, and disclosing any known defects or issues that could affect the property's value. Different types of Maine Exclusive Listing Agreement — Residential: 1. Exclusive Right to Sell Listing Agreement: This type of agreement grants exclusive rights to the selected agent to market and sell the property within the agreed-upon listing period. If the property is sold by another agent or by the owner themselves, the listing agent is still entitled to the agreed-upon commission. 2. Exclusive Agency Listing Agreement: This agreement allows the homeowner to retain the right to sell the property without owing a commission to the listing agent. However, if the property is sold by any other agent, the listing agent is entitled to a commission. 3. Pocket Listing: These agreements are uncommon in Maine but may exist. They allow the agent to keep the property off-market and confidentially offer it to a select group of potential buyers. This approach aims to create a sense of exclusivity and potentially secure a sale without public marketing. In conclusion, the Maine Exclusive Listing Agreement — Residential is a comprehensive and legally binding contract granting an agent exclusive rights to market and sell a residential property in Maine. It ensures that only the chosen agent can represent and promote the property during the listing period. Different types of this agreement include Exclusive Right to Sell Listing Agreement, Exclusive Agency Listing Agreement, and potentially Pocket Listings.