North Dakota 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. North Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document used in real estate transactions to establish a contractual relationship between a property owner (the "Principal") and a licensed real estate broker (the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as the exclusive listing agent for the leasing of the premises belonging to the Principal. The agreement typically contains several key clauses that define the rights and responsibilities of both parties involved. It includes provisions such as: 1. Parties: This section identifies the Principal and the Broker, including their legal names and contact information. It also includes any additional parties involved in the agreement, such as co-brokers or sub-agents. 2. Exclusive Listing: This clause states that the Principal grants the Broker the exclusive right to market, advertise, and negotiate the leasing of the premises on their behalf. The exclusivity period is typically specified, during which the Principal cannot engage another broker for the same purpose. 3. Property Description: This section provides a detailed description of the premises being listed for lease. It includes the property address, legal description, size, zoning, and any relevant features or amenities. 4. Listing Price and Terms: The agreement outlines the listing price or lease rate for the premises, along with any specific terms, such as the duration of the lease, security deposit requirements, or any special conditions. 5. Broker's Commission: This clause outlines the commission structure and the Broker's entitlement to a commission upon successful lease of the premises. The commission rate is usually expressed as a percentage of the lease amount and may be subject to negotiation. 6. Termination: The agreement specifies the circumstances under which either party can terminate the listing agreement before its expiration date. It may include provisions for notice periods and any applicable penalties or conditions for early termination. There are no specific types of North Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement mentioned per se. However, variations may exist depending on specific requirements, circumstances, or amendments made by the parties involved. It is crucial for both the Principal and the Broker to carefully review the agreement and seek legal advice if necessary before signing it. By entering into this agreement, the Principal empowers the Broker to facilitate the leasing process, negotiate on their behalf, and help secure a lease agreement with a qualified tenant.

North Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal document used in real estate transactions to establish a contractual relationship between a property owner (the "Principal") and a licensed real estate broker (the "Broker"). This agreement outlines the terms and conditions under which the Broker will act as the exclusive listing agent for the leasing of the premises belonging to the Principal. The agreement typically contains several key clauses that define the rights and responsibilities of both parties involved. It includes provisions such as: 1. Parties: This section identifies the Principal and the Broker, including their legal names and contact information. It also includes any additional parties involved in the agreement, such as co-brokers or sub-agents. 2. Exclusive Listing: This clause states that the Principal grants the Broker the exclusive right to market, advertise, and negotiate the leasing of the premises on their behalf. The exclusivity period is typically specified, during which the Principal cannot engage another broker for the same purpose. 3. Property Description: This section provides a detailed description of the premises being listed for lease. It includes the property address, legal description, size, zoning, and any relevant features or amenities. 4. Listing Price and Terms: The agreement outlines the listing price or lease rate for the premises, along with any specific terms, such as the duration of the lease, security deposit requirements, or any special conditions. 5. Broker's Commission: This clause outlines the commission structure and the Broker's entitlement to a commission upon successful lease of the premises. The commission rate is usually expressed as a percentage of the lease amount and may be subject to negotiation. 6. Termination: The agreement specifies the circumstances under which either party can terminate the listing agreement before its expiration date. It may include provisions for notice periods and any applicable penalties or conditions for early termination. There are no specific types of North Dakota Listing Agreement with Broker for Leasing of Premises with Commission Agreement mentioned per se. However, variations may exist depending on specific requirements, circumstances, or amendments made by the parties involved. It is crucial for both the Principal and the Broker to carefully review the agreement and seek legal advice if necessary before signing it. By entering into this agreement, the Principal empowers the Broker to facilitate the leasing process, negotiate on their behalf, and help secure a lease agreement with a qualified tenant.