This form grants to a realtor or broker the sole and exclusive right to list and show the property on one ocassionsell the commercial property described in the agreement. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Mississippi Listing Agreement with a Broker or Realtor to sell commercial property or real estate is a legally binding document that outlines the terms and conditions between a property owner (the client) and a licensed real estate broker or agent. This agreement is designed to establish an exclusive relationship between the client and the broker or realtor for a specified period of time. The exclusive listing agreement grants the broker or realtor the exclusive right to represent the client in the sale of their commercial property or real estate. This means that during the agreement's duration, the client is prohibited from working with any other broker or realtor to sell the property. However, the client still has the right to sell the property themselves, known as a "For Sale By Owner" (FBO), without being obligated to pay a commission to the broker or realtor. The agreement will typically include several important details, such as the property's address, legal description, and the agreed-upon listing price. It will also specify the duration of the exclusive listing period, which is typically a negotiated timeframe ranging from several months to a year. The agreed-upon commission rate or fee that the broker or realtor will receive upon the successful sale of the property is also stated in the agreement. There are two main types of exclusive listing agreements commonly used in Mississippi: 1. Exclusive Right to Sell Listing Agreement: This type of agreement grants the broker or realtor the exclusive right to market, advertise, and sell the property. Regardless of who sells the property, including the owner, the broker or realtor is entitled to receive the agreed-upon commission or fee. 2. Exclusive Agency Listing Agreement: This type of agreement grants the broker or realtor the exclusive right to market and advertise the property, but the owner reserves the right to sell the property themselves without paying a commission. If the owner sells the property, the broker or realtor will not receive any compensation. Both types of agreements provide the broker or realtor with exclusive authorization to act as the client's representative in all matters related to the sale, including negotiating offers, preparing contracts, and coordinating inspections and appraisals. The client benefits from the expertise and marketing strategies of a licensed real estate professional, while the broker or realtor gains the opportunity to earn a commission upon the successful sale of the property. It is crucial for both parties to thoroughly review and understand the terms and conditions outlined in the Mississippi Listing Agreement with a Broker or Realtor to Sell Commercial Property or Real Estate — Exclusive Listing before signing. Seeking legal guidance or advice is recommended to ensure compliance with state laws and protection of the client's best interests.
