Nebraska 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. Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding document that outlines the terms and conditions between a property owner (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker") for the purpose of leasing a property. This agreement is designed to protect the rights and interests of both parties involved in the leasing transaction. The Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement includes various key provisions: 1. Parties: This section identifies the name and address of the Principal (property owner) and the Broker who will be responsible for marketing and leasing the premises. 2. Terms and Conditions: The agreement stipulates the duration of the listing period and the terms under which the property will be listed. This includes the listing price or rental rate, any desired lease terms or conditions, and any specific requirements or restrictions. 3. Exclusive Agency: The agreement may specify whether the Broker has exclusive rights to represent the Principal in leasing the premises or whether the Principal has the right to lease the property themselves or engage other brokers simultaneously. 4. Commission: The commission agreement outlines the compensation terms for the Broker's services. It specifies the commission rate or fee, which is typically a percentage of the lease amount or a fixed fee, and the conditions that must be met for the Broker to earn the commission. 5. Property Description: The agreement provides a detailed description of the premises being listed for lease, including the address, size, condition, and any other relevant features or characteristics. 6. Marketing and Showing: This section describes the marketing efforts the Broker will undertake to promote the property, such as advertising, photography, and conducting showings. It may also specify any expenses the Principal agrees to cover for marketing purposes. 7. Owner Responsibilities: The agreement may outline the Principal's responsibilities, such as maintaining the property, obtaining required permits or licenses, and providing accurate and detailed information about the premises. 8. Termination: This section explains the conditions under which the agreement can be terminated by either party, such as non-performance, breach of agreement, or completion of the leasing transaction. Variations of Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement may include: 1. Non-Exclusive Listing Agreement: In this type of agreement, the Principal retains the right to engage multiple brokers simultaneously to lease the premises, expanding the marketing options. 2. Open Listing Agreement: This agreement allows the Principal to market and lease the premises themselves, without any exclusivity to the Broker. The commission is only payable if the Broker brings a suitable tenant, entitling the Broker to a commission. 3. Exclusive Right to Sell Listing Agreement: While this agreement is primarily used for the sale of real estate, it grants the Broker exclusive rights to lease the premises for a specific period. The Broker is entitled to a commission regardless of who procures the tenant during the listing period. In conclusion, the Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a crucial legal instrument that outlines the terms and conditions for the leasing of a property. It establishes the relationship between the Principal and the Broker, ensuring transparency, accountability, and fair compensation in the leasing process.

Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding document that outlines the terms and conditions between a property owner (referred to as the "Principal") and a licensed real estate broker (referred to as the "Broker") for the purpose of leasing a property. This agreement is designed to protect the rights and interests of both parties involved in the leasing transaction. The Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement includes various key provisions: 1. Parties: This section identifies the name and address of the Principal (property owner) and the Broker who will be responsible for marketing and leasing the premises. 2. Terms and Conditions: The agreement stipulates the duration of the listing period and the terms under which the property will be listed. This includes the listing price or rental rate, any desired lease terms or conditions, and any specific requirements or restrictions. 3. Exclusive Agency: The agreement may specify whether the Broker has exclusive rights to represent the Principal in leasing the premises or whether the Principal has the right to lease the property themselves or engage other brokers simultaneously. 4. Commission: The commission agreement outlines the compensation terms for the Broker's services. It specifies the commission rate or fee, which is typically a percentage of the lease amount or a fixed fee, and the conditions that must be met for the Broker to earn the commission. 5. Property Description: The agreement provides a detailed description of the premises being listed for lease, including the address, size, condition, and any other relevant features or characteristics. 6. Marketing and Showing: This section describes the marketing efforts the Broker will undertake to promote the property, such as advertising, photography, and conducting showings. It may also specify any expenses the Principal agrees to cover for marketing purposes. 7. Owner Responsibilities: The agreement may outline the Principal's responsibilities, such as maintaining the property, obtaining required permits or licenses, and providing accurate and detailed information about the premises. 8. Termination: This section explains the conditions under which the agreement can be terminated by either party, such as non-performance, breach of agreement, or completion of the leasing transaction. Variations of Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement may include: 1. Non-Exclusive Listing Agreement: In this type of agreement, the Principal retains the right to engage multiple brokers simultaneously to lease the premises, expanding the marketing options. 2. Open Listing Agreement: This agreement allows the Principal to market and lease the premises themselves, without any exclusivity to the Broker. The commission is only payable if the Broker brings a suitable tenant, entitling the Broker to a commission. 3. Exclusive Right to Sell Listing Agreement: While this agreement is primarily used for the sale of real estate, it grants the Broker exclusive rights to lease the premises for a specific period. The Broker is entitled to a commission regardless of who procures the tenant during the listing period. In conclusion, the Nebraska Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a crucial legal instrument that outlines the terms and conditions for the leasing of a property. It establishes the relationship between the Principal and the Broker, ensuring transparency, accountability, and fair compensation in the leasing process.