New Mexico 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. Description: The New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract that outlines the terms and conditions between a property owner (referred to as the "Principal") and a licensed real estate broker. This agreement pertains specifically to the leasing of premises and the commission structure associated with it. This agreement is crucial for property owners in New Mexico who wish to lease out their premises while utilizing the services of a licensed real estate broker. By signing this agreement, the principal grants the broker the exclusive right to act as their agent in leasing the premises. Key features of the New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement include: 1. Parties Involved: The agreement clearly identifies the principal, the licensed real estate broker, and any additional parties involved such as co-brokers or subagents. 2. Property Information: It requires detailed information about the premises being leased, including the legal description, address, and any specific terms or conditions related to the property. 3. Exclusive Agency: The agreement states that the broker has the exclusive right to lease the premises for a specific duration mentioned in the agreement, typically ranging from 90 days to a year. 4. Broker's Responsibilities: The agreement outlines the broker's duties, including marketing the premises, conducting property showings, screening potential tenants, and negotiating lease terms on behalf of the principal. 5. Commission Structure: The agreement specifies the commission rate or fee that the broker will receive for successfully leasing the premises. This can be a fixed amount or a percentage of the lease value. Any additional fees or expenses related to the leasing process are also mentioned. 6. Termination Clause: The agreement includes provisions for termination, outlining the circumstances under which the agreement can be ended by either party, as well as any applicable notice periods. It is important to note that there may be variations or different types of New Mexico Listing Agreements with a Broker for Leasing of Premises with Commission Agreement. These variations could include agreements with different commission rates, non-exclusive agreements allowing the principal to work with multiple brokers simultaneously, or agreements specifically for commercial or residential properties. To ensure legal compliance and protection of both parties' interests, it is advisable to consult with a licensed attorney or real estate professional when drafting or entering into a New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement.

Description: The New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legally binding contract that outlines the terms and conditions between a property owner (referred to as the "Principal") and a licensed real estate broker. This agreement pertains specifically to the leasing of premises and the commission structure associated with it. This agreement is crucial for property owners in New Mexico who wish to lease out their premises while utilizing the services of a licensed real estate broker. By signing this agreement, the principal grants the broker the exclusive right to act as their agent in leasing the premises. Key features of the New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement include: 1. Parties Involved: The agreement clearly identifies the principal, the licensed real estate broker, and any additional parties involved such as co-brokers or subagents. 2. Property Information: It requires detailed information about the premises being leased, including the legal description, address, and any specific terms or conditions related to the property. 3. Exclusive Agency: The agreement states that the broker has the exclusive right to lease the premises for a specific duration mentioned in the agreement, typically ranging from 90 days to a year. 4. Broker's Responsibilities: The agreement outlines the broker's duties, including marketing the premises, conducting property showings, screening potential tenants, and negotiating lease terms on behalf of the principal. 5. Commission Structure: The agreement specifies the commission rate or fee that the broker will receive for successfully leasing the premises. This can be a fixed amount or a percentage of the lease value. Any additional fees or expenses related to the leasing process are also mentioned. 6. Termination Clause: The agreement includes provisions for termination, outlining the circumstances under which the agreement can be ended by either party, as well as any applicable notice periods. It is important to note that there may be variations or different types of New Mexico Listing Agreements with a Broker for Leasing of Premises with Commission Agreement. These variations could include agreements with different commission rates, non-exclusive agreements allowing the principal to work with multiple brokers simultaneously, or agreements specifically for commercial or residential properties. To ensure legal compliance and protection of both parties' interests, it is advisable to consult with a licensed attorney or real estate professional when drafting or entering into a New Mexico Listing Agreement with Broker for Leasing of Premises with Commission Agreement.